How to open an account in Standard Chartered Bank Pakistan

By Abdul Raffay ⏐ 6 years ago ⏐

4 min read

Standard Chartered Pakistan is a subsidiary of Standard Chartered UK, its history in Pakistan dates back to 1863, the bank presently has its headquarters in Karachi with over 90 branches across the country.

Standard Chartered Bank also provides online banking facilities to its customers for a seamless banking experience so they can manage their finances from the comfort of their home.

Some of the services are mentioned below:

View balance of your account.
Keep track of your transactions and track purchases made.
View all your accounts and credit cards in one window.
Pay credit card, utility and mobile bills.
Transfer funds online to anyone within Standard Chartered or any other bank (IBFT).
24/7 Bank access.
Register for SMS and email alerts.

Let’s look at 3 different types of account you can open at Standard Chartered Bank:

Current account
Savings account
Assan Savings account
Young Lion account

Current account:

There are 2 types of people who can apply for a current account at Standard Chartered Bank:

Salaried individual (Age limit: 21 to 60 years old)
Business owner (Age limit: 21 to 65 years old)

Salaried individual:

To apply for a current account at Standard Chartered Bank, 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 Standard Chartered Bank:

CNIC
Proof of business

After you’ve submitted these documents, you’d also need to pay a minimum fee of 1000 PKR for account opening and would also need to maintain a minimum balance of 1000 PKR.

Features of Current Account:

Phone Banking services
Free internet banking facility
1 cheque books and 2 VISA Debit Cards for local currency.
Unlimited withdrawals and deposits every month.

Savings Account:

There are 2 types of people who can apply for a savings account at Standard Chartered Bank:

Salaried individual (Age limit: 21 to 60 years old)
Business owner (Age limit: 21 to 65 years old)

Salaried individual:

To apply for a current account at Standard Chartered Bank, 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 Standard Chartered Bank:

CNIC
Proof of business

After you’ve submitted these documents, you’d also need to pay a minimum fee of 100 PKR for account opening while no minimum balance is required for account maintenance.

This fee is for the Basic Saver Account, for other types of savings and current accounts visit this page. Standard Chartered Basic Saver Account has an interest rate of up to 11.25%.

Features of Savings account:

No requirement on maintaining a minimum monthly balance.
Free SMS alerts
Interest rates depend on deposited amount and term length.
Unlimited withdrawals and deposits every month.

Asaan Savings Account:

Standard Chartered Bank provides its customers with an Asaan Savings Account, Now you can open an account with the only required document being your CNIC and a minimum account opening fee of 100 PKR.

Features of Asaan account:

The current account, mandatory introduced by State Bank of Pakistan
No minimum balance required
Total Credit Limit is 500,000 PKR and the monthly debit limit is 500,000 PKR.
Account shall be closed if a new account were to be opened.

In all these are the 3 types of accounts you can open at Standard Chartered Bank, so if you feel interested, visit your nearest Standard Chartered branch to apply.

Not convinced? Here is a complete list of all Pakistani banks where you can open your accounts: