UBL Kommittee Account
“Kommittee” is a widely known and understood concept amongst Pakistanis and people in the developing world. It is widely practiced as a wealth accumulation scheme, however has historically operated totally outside the regulated financial and banking environment. We are delighted to announce that in line with our legacy of being a leader and innovator, 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 channel
All UBL current and / or saving 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.
Minimum Denomination to start a Kommittee with UBL
This account can be opened with minimum PKR 5,000/-. (monthly instalment can only be in multiples of PKR 5,000/- up to a maximum of PKR 1,000,000/-.
Following are the main features
Choice of Kommittee Cycles (12 Months, 18 Months, 24 Months)
No penalty withdrawal prior to 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
Contribution by the Bank is to encourage customer to complete their Kommittee cycle and should not be construed in any form as profit.
On making payment of all the 24 Months Instalments, a Bank Contribution of 100% of the monthly Kommittee instalment amount will be given to the customer.
On making payments of the all 18 Months Instalment Cycle, a Bank Contribution of 50% of the monthly Kommittee instalment 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 instalment amount to the customer.