Do you want to open an account, but know which is the right bank for you?
Worry no more, this article has mentioned the 4 Best Banks In Pakistan. If you want to open a bank account then you must choose one of them.
I have mentioned services about banks, their features, and why a bank is suitable for you.
Let’s dive right in.
Best Banks In Pakistan
- Alfalah Bank (Best Bank In Pakistan)
- Habib Bank (Best Investment Bank In Pakistan)
- National Bank Of Pakistan (Best Bank For Loans)
- UBL Bank (Bank Of The Year 2018)
- Conclusion:
Alfalah Bank (Best Bank In Pakistan)
Let’s start with the best bank in Pakistan. It is none other than Alfalah Bank. The bank was started in 1997, currently under Abu Dhabi Group. It is among one the biggest banks in Pakistan. In Pakistan, there are more than 700 branches of Alfalah Bank in more than 200 cities. The bank also has an international presence in Bangladesh, Afghanistan, Bahrain, and UAE.
Although Alfalah Bank is 23 years old, it only tasted success a few years back. In 20017 Alfalah Bank won its first award of “Best Islamic Bank of the Year 2017”. Form 2017 to date they have won multiple awards in different banking categories. You can view the entire list of Alfalah Bank awards here.
So Alfalah Bank has won many awards but are they any good for a common man. In short yes. With a click of a button, you can open a Roshan digital account. Alfalah Bank provides two modes of Roshan digital accounts for Non-Residents Pakistanis.
- Conventional Roshan Digital Account
- Islamic Roshan Digital Account.
If you don’t know the difference between the two, then make sure to read the difference here.
If you are a Pakistani citizen and want to open a new account in a bank, then Alfalah Bank might be a good option for you. The bank offers a variety of deposit accounts for Pakistanis. You can view the entire list of Alfalah Bank deposit accounts here. The one that fulfills your needs you must choose.
For a common man who does not want to get into hassles and just wants to deposit his money. One who often withdraws than Alfalah Bank Assan account is perfect for you.
Here are the reasons why you should open an Assan account.
- With only 100 rupees you can open an account.
- No service charges.
- No minimum balance requirements.
- You can deposit and withdraw a maximum of 500,000 rupees per month.
- You get a free Debit card. (View the list of debit cards offered by Alfalah Bank here)
- You get a free cheque.
- You receive an SMS alert on every transaction you make.
Alfalah Bank also provides auto loans at reasonable rates. They also have a finance agreement with Suzuki motors. This might be helpful if you are willing to buy a Suzuki vehicle. The bank provides low markup rates, priority delivery, and a free 3rd-year warranty on Suzuki Ciaz, Cultus, and Vitara. You can read more about Alfalah Bank auto loan here.
If you want to open a bank account then Alfalah Bank might be a good option. They offer a variety of accounts, they also have won from 2017 to 2020 consecutively. For auto loans, especially for Suzuki lovers, Alfalah Bank is a better option.
Habib Bank (Best Investment Bank In Pakistan)
Habib Bank is one of the oldest banks in Pakistan. It was founded before partition in 1941 at the request of Muhammad Ali Jinnah. It is also Pakistan’s first commercial bank. Habib Bank was established to support the All India Muslim League. This is why the Habib Bank has spatial importance in the independence of Pakistan.
For the past 80 years, the Habib Bank has faced a lot of issues but the bank stood firm and now it is among the best banks in Pakistan. In fact, in all Pakistan bank awards, Habib Bank was able to steal two spots. The bank is awarded Best Investment Bank, and the Best Bank For Small and Medium Business in Pakistan.
From 2009 to date Habib Bank has won dozens of banking awards. From bast bank award to Best Domestic Bank, Habib Bank has them all. You can view the Habib Bank awards here.
Habib Bank is not only the oldest bank in Pakistan but also among the most spread banks in the world. The bank has over1700 branches all over the world. From Australia to the USA, Habib Bank has branches all over the world.
Services:
Habib Bank provides basically three services to Habib Bank account holders.
- HBL Konnect (Basically same as Easypaisa and Jazz Cash but more convenient)
- HBL POS (POS machines enable buyers to make a transaction at shops or malls with credit cards)
- HBL Internet Payment Gateway (Makes international payment easy)
Loans:
Here are the loans Habib Bank provides.
- HBL Car loan (Bank provides 85% financing of the desired car)
- HBL Home loan (Bank provides financing limit between PKR 2,000,000 to PKR 40,000,000)
- HBL Personal loan (Bank provides financing limit between PKR 25,00 to PKR 3,000,000)
- HBL Salary plus (Bank assigns a salary limit to meet expenses which is maintained by the bank)
Accounts:
Habib Bank provides a variety of accounts including savings, current, and deposit accounts.
Like Alfalah Bank for a common man, I would recommend the Current Assan account.
Here are the features of Habib Bank Assan Current account
- Open an account with just PKR 100/-
- Free first year PayPak debit card
- No minimum balance requirement
- Avail of up to 4 free over-the-counter withdrawals every month
- Maximum account balance up to 500,000
- Simple 1-page account opening form
- Receive biannual account statements
- Access E-statements, 24 hours a day
- Cheque book, E-statement, SMS Alerts available
Habib Bank also has a youtube channel, where they share a lot of tips. Including how to get an account, apply for loans, promotions, and many more. If you are a current customer of Habib Bank then their youtube channel might be beneficial for you.
If you want to open a bank account then Habib Bank is also a good choice. They prove a lot of features, the best one is the HBL Konnect. It reduced the effort and the payment is fast and secure. For loans and investments, the Habib Bank is a perfect choice as the bank is awarded as the best investment bank in Pakistan.
National Bank Of Pakistan (Best Bank For Loans)
Next in the list of best banks in Pakistan is the National Bank of Pakistan. The bank is a subsidiary of the State Bank of Pakistan. Currently, the National Bank’s headquarter in Karachi and in Pakistan National Bank has over 1,500 branches.
Same as the Habib bank National Bank is also considered as one of the oldest banks in Pakistan. It was founded in 1949 and to date National Bank is providing facilities to Pakistani citizens.
The National Bank is a multinational bank with branches all over the world, including the USA, UK, Kazakhstan, Cairo, Bangladesh, and many more. For the past decade, National Bank has gone through a variety of changes and development. The bank focuses on the debt-equity market. It provides services to the commercial as well as to the public sector. The National Bank of Pakistan is also awarded the Best Agriculture Bank of Pakistan 2020. From 2001 to date the National Bank has won dozens of awards from Bank of the year to Cooperate and investment banking awards. You can view the list of National Bank awards here.
Services:
Although there are several services provides by National Bank but there are four main, and these make it stand out from other banks in Pakistan. The first one is the Kisan Loan, the second one is the home remittance, Mera Pakistan Mera Ghar, and the fourth is the cash and gold.
Kisan Taqat:
Kisan loan in other words of National Bank the Kisan Taqat is a step taken by National Bank to facilitate farmers to grow their business. The bank provides loans at low-interest rates and in easy installments. You just have to visit the dedicated branches for Kisan Takat and they will guide you through the rest of the process. Here is the list of designated branches for Kisan Taqat.
Home Remittance:
As for home remittance, the bank just made it simple. You have to open an account in National Bank. The sender has to visit a partner of the National Bank in his country. After he has sent the amount you can even track the remittance with an id. Once you have received the remittance then you can easily withdraw the amount from 1470 plus National Bank branches all over Pakistan.
Mera Pakistan Mera Ghar:
With this service, you can own a private house with the help of the National Bank. The bank will provide the apartment/house/flat, they will construct and purchase it for you. The installments are simple and can be extended to 20 years. There are four categories for Mera Pakistan Mera Ghar, Category 1, category 2, category 3. You can read more about this service here.
Cash n Gold:
If you need money urgently and the only thing you have is gold then with National Bank you can easily get it. The bank provides the maximum amount of 7 Million rupees (70 lacks). The markup rate will be 13%. You can read more about the Cash n Gold service of National Bank here.
NBP Asaan Account:
National Bank Of Pakistan might the right choice for you. Here are the features of the National Bank Asaan account
- Product Type Current, Savings Deposit
- Product Currency Pak Rupees
- Eligibility Individual – Single Individual, Joint (max. 1)
- Product Feature PLS Saving Accounts rate of profit applicable on Asaan Savings Account. Free Cheque Book on Customer Request
- (Initial / One time) EMV Debit Card Initial Deposit – Rs. 100/- only No Monthly Minimum Balance maintenance requirement. Bank Charges as per current tariff. No charges on the closure of the Account. Zakat and taxes, as per Law. SMS Alert Service (subject to subscription)
- Account Opening Simplified One Page Paper-based form Upon production of Valid Proof of Identity Document (Original) Identified source of fund (As per Declaration on AOF)
- Statement of Account As per current policy for PLS and Current accounts
- Account Activation Within 3 working days – After NADRA Verisys
- Transactions Limit * Total Debit per Month: Rs. 500,000 Total Credit Balance Limit: Rs. 500,000
- Restrictions * No cross border (outward) remittance transactions Personal Appearance for delivery of checkbook at Branch.
- Basic Banking Accounts Conversion into Asaan(Current) Account – upon the concurrence of Customer
The National Bank Of Pakistan might a good option if you want to get open a bank account. The basic account he Asann account in any bank in Pakistan is almost the same. They provide the same feature on this account.
But if you want to receive international payments the National Bank might be a good choice. They have over 1500 branches, and the remittance is fairly simple.
If you want to get a loan for your home or agriculture then there is no better option than National Bank. The bank is awarded the best agriculture bank of Pakistan 2020 because of its policies for farmers.
UBL Bank (Bank Of The Year 2018)
United Bank Limited is also among the prestigious banks in Pakistan. Started in 1959 the bank 6 0 year history is full of glorious moments. It is also among the biggest banks in Pakistan. With over 1400 branches all across Pakistan and 19 branches overseas.
From 1959 to date UBL Bank has won many awards including Best bank 2016, 2018, and the Top companies of the year for three consecutive awards 2016-2018.
Services:
Here are the services provided by UBL Bank:
- Insurance
- Car Loan ( UBL Drive )
- Home Loan (UBL Address)
- Salary (UBL Cash Plus )
- UBL Omni
Insurance
UBL Bank offers three types of insurance to its customers: UBL better life Bancassurance, which is general and simple insurance for the family. The second is the Accidental death and disability insurance, and the third one is retail products insurance. You can read more about UBL Bank insurance services here.
Car Loan ( UBL Drive )
With a 20% down payment, you can get your dream car. UBL provides maximum financing of 60 lacks on a single car. Anyone between 21-60 age, a salary of more than 50,000 per month can apply for a car loan. You can read more about the car loan procedure here.
Home Loan (UBL Address)
UBL provides loans for building, buying, and renovating a home. You can read more about the UBL bank home loan process here.
Salary (UBL Cash Plus )
You can read more about the UBL bank cash plus here.
UBL Omni
This one service particular form UBL Bank is the Omni. UBL Omni account is similar to the Easypaisa in fact all things are similar. Any person having a SIM and CNIC can open an Omni account. If you have a UBL account then you can easily transfer funds to the Omni account. You can read more about the UBL Omni account and its features here.
Accounts:
Here is the list of accounts UBL Bank offers.
- UBL Mukammal Current Account
- UBL Savings Account
- UBL Zindagi Account
- UBL UniZar Foreign Currency Savings Account
- UBL UniZar Foreign Currency Current Account
- UBL Mahana Aamdani Savings Account
- UBL Basic Banking Account
- UBL Asaan Account
- UBL First Minor Savings Account
- UBL Good Citizen Account
UBL Asaan Account:
Here are the features and requirements of the UBL Asaan Account
- The flexibility of Opening Current or Savings Account
- No minimum balance required
- No Fee for Debit Card Issuance.
- No Service Charges for account opening or closing
- Any of the following documents may be used as proof of Identity for the opening of Asaan Account: Computerized/ Smart National Identity Card (CNIC/ SNIC), Pakistan Origin Card (POC)
- Total Debit per Month: Rs. 500,000/-
- UBL Asaan Accounts are meant for resident individuals having Pakistani Nationality only
UBL Bank is one of the best banks in Pakistan. It is also awarded as the best bank in 2016 and 2018. There are a variety of services offered by UBL Bank, the mentioned above are the most I like. UBL Omni is one of the best. It is not as popular as Easypaisa but still, it adds value when you are a UBL account holder.
Conclusion:
Now I’d like to hear from you.
Which Bank you are using now?
Let me know by leaving a comment below, right now.
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