Bank of Punjab is a Pakistani commercial bank with its Headquarters in Lahore and it was built in 1980, nearly 30 years ago. It is the seventh biggest Pakistan business Bank with over 550 branches across the country.
Among other things, the bank affords Mobile banking offerings via its BOP mobile banking app available in each Android and iOS.
Some of the facets of the Mobile Banking app are cited below:
- Check your account balances
- View Transaction Details
- Beneficiary Management
- Transfer funds across Pakistan to any account
- Utility Bill payment
- Internet Service Providers’ bill payment
- Mobile bill payment
- Mobile Top-ups
- Manage your debit card status
Let’s look at 3 different types of account you can open at BOP:
- Current account
- Assan Savings account
- Young Lion account
Current Account:
There are 2 types of people who can apply for a current account at BOP:
- Salaried individual (Age limit: 18 to 70 years old)
- Business owner (Age limit: 18 to 70 years old)
Salaried individual:
To apply for a current account at BOP, you need to collect the following documents:
- CNIC
- Proof of employment (through an employment verification letter)
- Copy of your utility bills
Business owner:
Collect and submit the following documents to the bank if you want to open a current account at BOP:
- CNIC
- Proof of business
After you’ve submitted these documents, you’d also need to pay a minimum fee of 1000 PKR for the account while no minimum fee is required for account maintenance.
Features of Current Account:
- Free bank statements
- Free net banking facility
- Unlimited fund transfer and withdrawals through ATM.
- Free pay orders and cheque books
- No worries on maintaining a minimum monthly balance.
- Unlimited withdrawals and deposits every month.
Asaan Savings Account:
There are 2 types of people who can apply for asaan savings account at BOP:
- Salaried individual (Age limit: 18 to 70 years old)
- Business owner (Age limit: 18 to 70 years old)
In both cases, all you require is your CNIC and a minimum bank opening fee of 100 PKR.
The profit rates for the month of July were 6.28% while those of August will be available later.
Features of Savings Account:
- The account can be opened as individual, joint or minor type.
- There is no minimum balance requirement.
- There are no Service Charges.
- The account will preferably be ATM/Debit Card based.
- Cheque book can be issued as per the choice of the customer.
- A silver debit card is subsidized at PKR 300 per annum for both issuance & renewal.
- Per month total debit limit of 500,000 PKR
- Total Credit Balance limit of 500,000 PKR
Young Lion Saving Account:
Bank of Punjab provides young children under the age of 18 with their very own savings account, this helps children to learn the importance of saving from a young age.
Features of Young Lion account:
- This is a chequing account product.
- Calculation of profit is on monthly average balance basis.
- Profit payment is on a monthly basis.
- Free first Cheque Book of 25 leaves.
- Free silver Debit card.
- Free e-banking facility to view account balance and statement of account is available.
- SMS alert facility available.
- Payment of utility bills.
In all these are the 3 types of accounts you can open at BOP, so if you feel interested, visit your nearest BOP branch to apply.