open an account in MCB Islamic Bank
MCB stands for Muslim Commercial Bank. MCB Islamic Bank (MIB) is a Pakistani Islamic bank that is an alternative to MCB and it is a bank of Nishat Group. MIB was established in 2015 and its headquarter is in Lahore. It has currently 166 branches all around Pakistan.
MCB Islamic banking also provides internet banking services that are following.
- You can view your account balance.
- Check the details of the account.
- Check accounts mini statement. (of last 10 transactions).
- Check full transaction details.
- Utility Bills Payments.
- IBFT facility up to 250,000 PKR
You can open 3 different types of accounts in MCB Islamic bank.
Current account
Saving account
Asaan account
✅ Current account
At MCB Islamic bank LTD only types of people can apply for a current accounts.
- Salaried individual
Age limit: 21 to 60 years old
- Business owner
Age limit: 21 to 65 years old
Salaried individual
If you want to apply for a current salaried individual then you need the following documents.
CNIC original and photocopy
Employment verification letter as employment proof
Copy of your utility bills
Business owner
You need to submit the following documents to open a current account for the business owner.
CNIC
Proof of business
When you submitted the following documents then after that you have to pay 1000 PKR for the opening of the account and you don’t need any specific amount for the maintenance of the account.
👉 Features of Current Account
These are the features you will receive if you open a current account.
✔ Cheque Books
✔ Banker’s Cheque
✔ ATM/Debit Card
✔ SMS Alerts on transactions performed.
✔ Internet Banking
✔ Mobile App for Android and IOS.
✔ Phone Banking
✅ Savings account
There are also two types of persons who can open account of saving accounts a current account the difference is of age.
- Salaried individual
Age limit: 18 to 70 years old
- Business owner
Age limit: 18 to 70 years old
Salaried individual
To open an account of saving account for a salaried individual, you need the documents same as the current account.
CNIC original and photocopy
Employment verification letter as employment proof
Copy of your utility bills
Business owners
Its documents are also the same as the current account that is following.
CNIC
Proof of business
After submitting the documents, just pay 1000 PKR for the account opening fee and you are done.
The interest rate of the MCB Islamic bank saving account is 6.48%.
Features of Savings Account:
- Profit is calculated on the Monthly average balance.
- Free e-statements and internet banking.
- Unlimited withdrawals and deposits.
- According to the deposit amount, the interest rate is 4.8% to 6.48%
- Profit on a monthly basis.
✅ Assan account
If you don’t want to stand in lines and don’t want to include in a lot of formalities like providing documents for applying for an account then Assan account is best for you.
You don’t need to follow many formalities, you just need your CNIC and have to pay a 100 PKR fee for account opening, and you are done.
👉 Features of Asaan Account:
- Current and saving accounts both can be opened
- Banker’s Cheque
- ATM/Debit Card
- SMS Alerts
- Internet Banking
- MobileApp
- Phone Banking
- Cheque Book
- Total Debit: 500,000 PKR per month
- Total Credit balance limit: 500,000 PKR per month
These are the accounts that you can open in MCB Islamic bank. If you are interested to open any of the accounts then just go to the nearest branch of MCB and follow the steps that we tell you.
Read more: How to Activate MCB ATM Card Online?