National Bank

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ACCOUNT CLOSING
There are no. of reasons of closing an account can be one of the following if customer desire to close his account, in case of death of one account holder, bankruptcy of the account holder and If an account contain nil balance or not up to the requirement of rules.

Before closing any account, bank send letter to the account hold for informing him that his account is going to be closed.  There is need an approval form higher authority to close any account.
 

CURRENT ACCOUNTS
Current deposits are those which are payable to bank whenever demanded by the customer.  Bank does not pay any profit on current deposits.  There are of different scheme of saving deposits, which are classified under different duration purpose and rate of interest.  Fixed deposits are those deposits which are by the bank under the conditions that they will not be payable on demand but will be payable under fixed or determinable future time date.
 

FEATURES
A sum of Rs. 500/= in cash as initial deposit is required for opening a current account and the same may be maintained as minimum average running credit balance.  No profit will be paid on credit balances held in current accounts. The bank reserves the right to allow opening of current a/c at its description. All deposits and withdrawal from a current a/c will take place only at the branch where the account is being maintained. Current a/c cannot be overdrawn, except by prior agreed agreements with the bank. The correspondence relating to current A/Cs should be addressed to manager of the branch where the account is being maintained. A distinctive number will be allotted to each current account and shall be quoted on all correspondence relating to the respective account and at the time of making deposits and withdraws.

The account holder can draw sums from his account by means of cheque supplied to him by the bank for that particular account.  Account holder should take well care of the chequebooks issued to them.  The account holder will pay excise duty of Rs.4 per leaf to the government.
 

PAY–IN SLIP
This slip is used for depositing the additional amount.  The bank will accept the Pakistanis notes.  All cheques and other instruments should be crossed before they are deposited for credit into the account.  There shall be no restriction on number of withdrawals in current account. The account holder is expected to maintain a minimum running credit balance of Rs.500/.  An account holder wishing to close his account must surrender the unused cheques to the bank.  The current account is computerized, thus it generate the statement of account for all account holders periodically. Incidental charges are beard by the account holder if its credit balance is less than Rs.500/. Service charges of RS. 20/= will be taken by the bank, if an account is closed within 6 months from the date of its opening.  
 

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