Basic Banking Account
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NIB-BBA account will be a non remunerative PKR current (checking) account:
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- The initial minimum deposit to open the account will be Rs. 1,000; however, there will be no
minimum balance charges, if the balance falls below the above threshold.
- If the balance in the account remains ‘Nil' for a continuous six month's period, the account
will be closed. However, exemption to this effect may be solicited from business head.
- The account should not be overdrawn. The Bank is not obliged to honor any cheques drawn by the
account holder if in doing so the account would become overdrawn and would debit the account
with the charge of each returned cheque, presented through clearing, as per its Schedule of Charges.
- The balance in the account can be offered as collateral for obtaining loan from the bank, if
such a facility is offered to the customer by the bank.
- Maximum two deposit transactions and two cheque
withdrawals are allowed, free of charge,
through cash/clearing per month.
- Unlimited, free of charge, ATM withdrawals from the banks' own ATMs will be allowed. In case
of withdrawal from BBA through the ATM machines of other banks, charges as applicable from
time to time will be levied.
- Statement of account will be sent once a year, irrespective of the balance in the account.
Service charges will be levied as per Schedule of Charges, if the customer requires the
statement at higher frequency or requires duplicate/additional copies.
- The account can be closed either on instructions of the account holder or on unsatisfactory
conduct of the account. All unused cheques are to be returned to the Bank when the account
is closed. Reasonable efforts should be made by the branch to obtain the unused cheques,
however, this should not be treated as a pre-requisite for closing the account.
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