bank of Punjab saving account opening requirements

To ensure monitoring of local government accounts and provide them with necessary banking facilities, BOP has introduced BOP PLS LG account only for local governments under the Punjab government. According to the Punjab Local Government Act, 2019, all local bodies including the Metropolitan Corporation, Municipal Corporation, Municipal Committees, Town Committees, Tehsil Councils and Village Panchayats and Neighboring Councils will be eligible to open this account.

Bank of Punjab PLS LG Account Benefits

1.      Bank of Punjab PLS LG Account provides the facility of free Universal Cheque

2.      Bank of Punjab PLS LG Account provides the facility of free CDRs

3.      Bank of Punjab PLS LG Account provides the facility of free Duplicate Account Statements

4.      Bank of Punjab PLS LG Account provides the facility of free online banking

5.      Bank of Punjab PLS LG Account provides the facility of profit calculation on monthly average deposit at minimum saving rate

6.      Bank of Punjab PLS LG Account provides the facility of profit payment on half yearly basis

7.      All the facilities and free features available in the government accounts will be applicable as per the schedule of charges.

8.      Ban on Cash Payment / Per Transaction from Accounts as per Punjab Local Government Accounts Rules 2019. The limit will be informed in the light of the instructions received.

9.      However, no cash payment / refund will be made from LG accounts during this period until the limit amount is received.

Bank of Punjab PLS LG Account Eligibility and Required Documents

1.      The account holder must be of Pakistani nationality.

2.      The age limit of the account holder must be in the range of 18 years and above.

3.      The account holder must provide the valid copy of CNIC.

4.      In case of non-Pakistani residence the account holder must provide the valid copy of Passport.

5.      The account holder must provide the recent size photographs.

6.      The account holder must provide the documentation proof of residence either electricity bill, water bill, tenancy agreement addressed in their name.

7.      The account holder must provide documentation proof of income resources.

Bank of Punjab PLS LG Account Profit Rate

·         The profit rate of Bank of Punjab PLS LG Account is 5.50%

·         For example, if an individual deposits PKR. 100,000 in an account then it will be rewarded PKR. 5,500 after a month.

How to Apply for Bank of Punjab PLS LG Account

In order to apply for Bank of Punjab PLS LG Account, the interested customers should visit the nearest BOP branch and fulfill the application form along with the required documents and submit it with the branch manager.

Bank of Punjab Helpline Numbers

UAN: 111-200-100

Tel: (042) 35783700-10

Fax: (042) 35783713-35783975