UBL Kommittee Account Key features

UBL is the first Bank in Pakistan to launch the “UBL Kommittee” which is a first-of-its-kind Kommittee product offered through regulated financial channels.

Eligibility

All UBL current and/or savings account (single, joint, partnership, or corporate) holders. All NTB customers will be asked to open up a checking account of their choice first before opening up a Kommittee account.

UBL Kommittee Account

Minimum denomination to start a Kommittee with UBL
This account can be opened with a minimum PKR 5,000/-. (monthly installment can only be in multiples of PKR 5,000/- up to a maximum of PKR 1,000,000/-

Online Apply for UBLKommitee

Key features:

The following are the main features
Choice of Committee Cycles (12 Months, 18 Months, 24 Months) No penalty withdrawal before completion of chosen Kommittee cycle Tax-Free Bank Contribution Facility of availing Instalment Holiday without any penalty Free e-statements for Kommittee account Free SMS Service for Kommittee account.

Bank Contribution:

The contribution by the Bank is to encourage the customer to complete their Kommittee cycle and should not be construed in any form as profit.

On making payment of all the 24-month installments, a Bank Contribution of 100% of the monthly Kommittee installment amount will be given to the customer On making payments of the 18 Months Instalment Cycle, a Bank Contribution of 50% of the monthly Committee installment amount will be given to the customer On making payment of all the 12 Months Instalment Cycle, a Bank Contribution of 25% of the monthly Kommittee installment amount to the customer.

Kommittee Cycles;

Customers can choose from any of the three Kommittee accounts, based on the length of the Committee which is 12 months, 18 months, and 24 months.

Instalment Holiday:

In case there is no balance in the base account on the day of the Kommittee deduction, the Kommittee is marked as an “Installment Holiday” and suspended free of charge. The Kommittee Cycle is moved forward by the number of months the Kommittee installment is not paid i.e. the Bank Contribution month is moved forward one month for each installment month missed.

Withdrawal:

Withdrawal or closing Kommitee is allowed without any penalty, however, Bank Contribution will not be given in such cases.