Habib Bank Limited (HBL) these days is frequently advertising HBL Value Account on television channels. This Saving Account product variant is targeted at small money savers.

In the television advertisement, a female nurse is seen telling about her finances and banking needs. She tells that she was guided about this product by her seniors. Depicting a real life person from the target market social economic strata, instead of a model, will be helping in creating a bond and trust with them.

Expected rate of profit being communicated is 7.19% per annum – which is subject to Zakat and government taxes and duties. Profit, calculated on monthly basis, is to be paid after every three months. The minimum deposit amount required for HBL Value Account is Rs 10,000 and the maximum amount allowed is Rs 1,000,000.

No free services are communicated for this saving account. We therefore assume that normal charges for any other services, as mentioned in the HBL’s Schedule of Charges (SOC) [252KB, PDF] for January-June 2009, will apply.

Charges for issuance of cheque book are Rs 5 per leaf (per cheque), which will be charged at the time of issuance of cheque book. An ATM / Debit card – either a Classic Card, Gold Card or Basic Green Card – will cost Rs 300. Federal Excise Duty (FED) at the rate of 10% will be charged for issuance of ATM card.

On the downside, a maximum of only two withdrawal transactions are allowed. If more than two withdrawal transactions are conducted in a given month, rupees 11 will be charged per transaction.

For further details, you may visit your nearest HBL branch, call HBL Phone Banking at 111-111-425 or reach out HBL website for the account.