# HBL accounts compared: which account to open

URL: https://which.pk/money/guides/hbl-accounts/
Author: Hassam
Updated: 17 Oct 2026

## Summary

From 1 October to 31 December 2026, HBL pays individuals 10% a year on all its rupee savings accounts up to Rs 10 million and 9.5% above. Profit is paid twice a year on PLS Savings and monthly on most of the others. Under HBL's July to December 2026 schedule, most HBL accounts charge Rs 50 a month below a Rs 40,000 average balance; PLS Savings, Conventional Current and Asaan don't. Asaan accounts hold up to Rs 3 million and pay no profit.

## Key facts

- Savings rate (Oct–Dec 2026): 10% up to Rs 1 crore
- Low-balance fee (Jul–Dec 2026): Rs 50 a month under Rs 40,000
- Asaan account cap: Rs 3 million balance
- Free IBFT a month (Jul–Dec 2026): Rs 25,000

The right HBL account depends on whether you want profit. For individuals, HBL's savings accounts all pay **10% a year** on balances up to Rs 1 crore (rate sheet valid 1 October to 31 December 2026); they differ in how often profit is paid and whether a **Rs 40,000** average balance applies. HBL's current accounts (Freedom, Conventional Current, Asaan, Freelancer) pay no profit. If you have little paperwork, the **Asaan account** needs only a CNIC.

**HBL savings rate, individuals, up to Rs 1 crore:** 10.00% a year (Simple rate on PLS, Mahana Amdan, Daily Munafa, Value, Nisa, Rutba and Money Club, valid 1 October to 31 December 2026. Above Rs 10 million it is 9.50%.)

## Which HBL account should I open?

Start from what you need. Each pick below is explained further down.

| You want | HBL account | Why |
|---|---|---|
| Profit with no balance rules | PLS Savings | No minimum balance and no transaction charges; profit paid twice a year |
| Monthly profit | Mahana Amdan or Daily Munafa | 10% a year, paid monthly on daily closing balance |
| An everyday account with a big balance | Freedom or Conventional Current | Free cheque books, SMS alerts and banker's cheques at Rs 40,000+ average balance |
| An account with only a CNIC | Asaan (branch or digital) | Opens with a CNIC or SNIC; up to Rs 3 million balance |
| To get paid from abroad as a freelancer | Freelancer Digital Account | Comes with a dollar ESFCA (Exporter's Special Foreign Currency Account) |
| An account for a woman, child or senior | Nisa Savings, Money Club, Rutba | Same 10% rate, monthly profit, extra perks |

If you want Islamic banking, HBL's digital account form lets you choose a conventional or Islamic variant. We haven't covered HBL Islamic's accounts here. For a fully Islamic bank, see [Meezan Bank accounts](/money/guides/meezan-bank-accounts/).

## What are the HBL account types?

HBL lists these rupee accounts for individuals. Rates are from HBL's rate sheet for 1 October to 31 December 2026, and the balance rules from its July to December 2026 Schedule of Bank Charges.

| Account | Type | Profit (up to Rs 1 crore) | Profit paid | Rs 50 fee below Rs 40,000? |
|---|---|---|---|---|
| PLS Savings | Savings | 10.00% | 30 June and 31 December | No |
| Mahana Amdan | Savings | 10.00% | Monthly | Yes |
| Daily Munafa | Savings | 10.00% | Monthly | Yes |
| Value Account | Savings | 10.00% | Quarterly | Yes |
| Nisa Savings (women) | Savings | 10.00% | Monthly | Yes |
| Rutba (55 and above) | Savings | 10.00% | Monthly | Yes |
| Money Club (under 18) | Savings | 10.00% | Monthly | Yes |
| Freedom | Current | None | n/a | Transaction charge instead |
| Conventional Current | Current | None | n/a | No |
| Asaan | Current | None | n/a | No |
| Freelancer Digital | Current | None | n/a | Page says no minimum balance |
| HBL iD (18 to 30) | Current | None | n/a | Not stated on its page |
| Basic Banking | Current | None | n/a | No |

The Rs 50 a month (including tax) applies when your monthly average balance is under Rs 40,000. HBL's schedule exempts regular PLS Savings, Conventional Current, Asaan and Basic Banking accounts, as well as students' accounts and government salary and pension accounts.

Value and Basic Banking accounts also charge Rs 58 (including tax) for each over-the-counter debit after the first 2 in a month. ATM and digital transactions don't count.

**HBL's pages and its schedule don't always match:** The Rutba and Money Club pages list a Rs 40,000 balance requirement, but their FAQs say there is no minimum balance. The Conventional Current page says service charges apply below Rs 40,000, while the schedule exempts that account from the Rs 50 fee. We follow the schedule (July to December 2026). Ask the branch which charges apply to your account before you open it.

## What is the HBL saving account profit rate in 2026?

For individuals, every HBL rupee savings account pays the same simple rate from 1 October to 31 December 2026. The effective rate is higher when profit is paid more often, because the profit itself earns profit.

| Account | Up to Rs 10 million | Above Rs 10 million | Effective rate (up to Rs 10 million) |
|---|---|---|---|
| PLS Savings | 10.00% | 9.50% | 10.25% |
| Value Account | 10.00% | 9.50% | 10.38% |
| Mahana Amdan, Daily Munafa, Nisa, Rutba, Money Club | 10.00% | 9.50% | 10.47% |

Profit on PLS Savings, Value, Nisa, Rutba and Money Club is worked out on your monthly average balance. Mahana Amdan and Daily Munafa use your daily closing balance, so money that comes in mid-month starts earning straight away.

HBL's 10% matches the legal minimum. According to an Allied Bank explainer (we couldn't open SBP's site), as of 15 September 2026 banks must pay individuals at least 10% a year on savings, 50 basis points below the State Bank's 10.50% floor rate. Since 1 August 2026 that minimum covers only individuals with an average balance of up to Rs 10 million, and HBL pays less above that amount.

If you can lock money away, HBL Advantage term deposits paid 10.20% (monthly profit) to 10.60% (at maturity) for one year in the same period. Shorter terms paid less: 9.28% for one month and 9.15% for three months. Banks deduct tax on profit; see [tax on bank profit](/money/guides/tax-on-bank-profit/). To compare with other banks, see [savings account profit rates](/money/guides/savings-account-profit-rates/).

## HBL current account vs saving account: which is cheaper to run?

A current account pays nothing but suits frequent payments. HBL has two main ones, and both depend on a **Rs 40,000 monthly average balance**. Figures are from the July to December 2026 schedule and exclude tax unless marked.

| | Freedom | Conventional Current |
|---|---|---|
| Below Rs 40,000 average | Rs 34.8 per debit transaction (incl. tax), charged at month end | No Rs 50 fee, but the free services below stop |
| Cheque book | Free at Rs 40,000+; otherwise Rs 40 a leaf | Free at Rs 40,000+; otherwise Rs 40 a leaf |
| SMS alerts for branch transactions | Free at Rs 40,000+; otherwise Rs 325 a month | Free at Rs 40,000+; otherwise Rs 325 a month |
| Banker's cheque | Free at Rs 40,000+; otherwise Rs 750 | Free at Rs 40,000+; otherwise Rs 750 |
| Other banks' ATMs (incl. tax) | Free at Rs 40,000+; otherwise Rs 35 | Rs 35 per withdrawal |
| IBFT above Rs 25,000 a month (incl. tax) | Free at Rs 40,000+ | Up to 0.1% or Rs 200, whichever is lower |
| Debit card annual fee | Classic card free at Rs 40,000+ | Card fee applies |

So if you'll keep Rs 40,000 or more on average, Freedom gives the most free services. If your balance swings below that, Freedom's per-transaction charge adds up. A Conventional Current account then costs you only the services you use.

If you keep a small balance and only want profit, **PLS Savings** is the simplest HBL account: no minimum balance and no transaction charges, and it earns 10% up to Rs 1 crore.

## What are HBL account charges?

These charges apply to most HBL accounts, as of the July to December 2026 schedule. ATM and digital charges include tax; the rest exclude it.

| Service | Charge |
|---|---|
| Withdrawal at an HBL ATM | Free |
| Withdrawal at another bank's ATM | Rs 35 |
| HBL to HBL transfer | Free |
| IBFT (to another bank) | Free up to Rs 25,000 a month, then up to 0.1% or Rs 200, whichever is lower |
| Debit card annual fee | PayPak Rs 2,000; Visa or Mastercard Standard Rs 3,000; Mastercard Gold Rs 3,800 |
| Cheque book | Rs 40 a leaf, unless your account waives it |
| SMS alerts for branch transactions | Rs 325 a month, unless waived |
| Stop payment | Rs 1,000 per instruction |
| Cheque returned for low balance | Rs 1,000 |
| Duplicate statement | Free |
| Closing the account | Free |

Several accounts waive part of the debit card fee. Asaan, Mahana Amdan and Freelancer Digital accounts get a free PayPak card in the first year, HBL iD and Rutba a free Classic card in the first year, and Money Club a free card in the first year. Nisa Savings customers get a Classic or Gold Mastercard with no issuance fee in year one. For how HBL compares with other banks, see [bank charges in Pakistan](/money/guides/bank-charges-pakistan/).

## What is the HBL Asaan account limit?

The HBL Asaan account can hold up to **Rs 3 million**, and you can take out up to **Rs 1 million a month**. Inward remittances have no limit. Outward and commercial remittances are restricted, and HBL's page says term deposits you book from the account count toward the Rs 3 million.

Who can open it:

- Resident Pakistani individuals aged 18 or over, with a CNIC or SNIC
- Only people who don't already have an HBL account
- One Asaan account per CNIC

HBL's Asaan account is a current account only, so it pays no profit. Transaction charges are free and it is exempt from the Rs 50 low-balance fee. The PayPak debit card is free for the first year only. You can also open it online as the **Asaan Digital Account**, with the same limits. For how Asaan accounts work at other banks, see [Asaan account](/money/guides/asaan-account/).

## How does the HBL freelancer account work?

The **Freelancer Digital Account** is for residents aged 18 or over who sell online services, including IT work, to clients abroad and are paid from abroad. It is a rupee current account, opened together with an **ESFCA** that holds foreign currency.

- **Keeping dollars:** you can keep USD 5,000 a month or 50% of your export proceeds, whichever is higher, in the ESFCA. A USD debit card is available on it.
- **Balance:** no minimum monthly balance.
- **Debit card:** a free PayPak card for the first year, then the normal annual fee.
- **Who:** only people new to HBL, and only as a single (not joint) account.

Already bank with HBL? Ask the branch to tag your existing account as a freelancer account to get the same benefits. For other ways to receive money from clients, see [freelancer payment methods](/business/guides/freelancer-payment-methods-pakistan/).

## How do I open an HBL account online?

HBL describes its digital onboarding on the Freelancer account page (checked 17 Oct 2026). It is for people new to HBL.

1. **Have your CNIC ready.** You upload images of the front and back.
2. **Verify yourself.** Enter your CNIC number and issue date, mobile number and email address.
3. **Choose the account.** Pick the conventional or Islamic variant, the account type and your preferred branch.
4. **Fill in your details.** HBL asks for basic KYC (father's name, mother's maiden name) and your profession and field of work.
5. **Pick services and take a live photo.** Choose e-statements, SMS alerts and a debit card, then take a live picture.
6. **Wait for a decision.** HBL says it opens or declines the application within 2 working days.

At a branch, HBL's Nisa Savings page asks for an original CNIC with a verified copy, proof of income and a recent utility bill. HBL iD asks for a CNIC plus a student card, salary slip or other proof of income. For other banks' apps, see [open a bank account online](/money/guides/open-bank-account-online/).

## Which HBL account suits women, seniors and children?

- **Nisa Savings (women 18+):** 10% monthly profit, first 10-leaf cheque book free, free insurance cover in year one, 50% off locker fees in year one and 50% off HBL Personal Loan processing. The insurance continues from year two only with a Rs 55,000 average balance.
- **Rutba (55 and above):** 10% monthly profit, first 10-leaf cheque book free and a Classic debit card free in the first year. You can open more than one Rutba account on one CNIC.
- **Money Club (under 18):** 10% monthly profit and a free debit card limited to Rs 20,000 a day at ATMs and shops. A parent or guardian can open up to 5.
- **HBL iD (18 to 30):** a current account with discounts at restaurants and shops. It pays no profit.

More guides: [HBL vs UBL](/money/guides/hbl-vs-ubl/), [MCB accounts](/money/guides/mcb-accounts/), [Meezan Bank accounts](/money/guides/meezan-bank-accounts/), [HBL credit cards](/money/guides/hbl-credit-cards/), [best bank in Pakistan](/money/guides/best-bank-in-pakistan/), [dollar account in Pakistan](/money/guides/dollar-account-pakistan/), [Zakat deduction from bank accounts](/money/guides/zakat-deduction-bank/), [Money](/money/).

## Questions people ask

### What is the HBL saving account profit rate in 2026?

From 1 October to 31 December 2026, HBL pays individuals 10.00% a year (simple) on its PLS, Mahana Amdan, Daily Munafa, Value, Nisa, Rutba and Money Club accounts, up to Rs 10 million. Above Rs 10 million it is 9.50%.

### What is the HBL Asaan account limit?

An HBL Asaan account can hold up to Rs 3 million, and you can take out up to Rs 1 million a month. Inward remittances have no limit, but outward and commercial remittances are restricted.

### What are HBL current account yearly charges?

On a Freedom or Conventional Current account with a monthly average balance of Rs 40,000 or more, cheque books, SMS alerts and banker's cheques are free. Below that, as of the July to December 2026 schedule, cheque leaves cost Rs 40 each, over-the-counter SMS alerts Rs 325 a month, and Freedom charges Rs 34.8 per debit transaction. The debit card's annual fee is extra unless your account waives it.

### Can a freelancer open an HBL account online?

Yes, if you don't already bank with HBL. The Freelancer Digital Account opens online with CNIC images and a live photo, together with a dollar ESFCA, and HBL decides within 2 working days. Existing customers can tag a branch account as a freelancer account instead.

### Does an HBL current account pay profit?

No. HBL Freedom, Conventional Current, Asaan, Freelancer and HBL iD are current accounts and pay no profit. To earn profit you need one of HBL's savings accounts.

## Sources

- [Indicative and Annualized Rates on Deposits, 1 October to 31 December 2026](https://www.hbl.com/assets/documents/Indicative_and_Annualized_Rates_on_Deposits_w.e_.f_._01_.10.2026_to_31_.12.2026.pdf), HBL (accessed 17 Oct 2026)
- [Schedule of Bank Charges, July to December 2026](https://www.hbl.com/assets/documents/Schedule_of_Bank_Charges_for_July_to_December_2026_%E2%80%93_English.pdf), HBL (accessed 17 Oct 2026)
- [HBL Freedom Account](https://www.hbl.com/personal/accounts/current/hbl-freedom-account), HBL (accessed 17 Oct 2026)
- [HBL Conventional Current Account](https://www.hbl.com/personal/accounts/current/hbl-conventional-currentaccount), HBL (accessed 17 Oct 2026)
- [HBL Asaan Account](https://www.hbl.com/personal/accounts/current/hbl-asaan-account), HBL (accessed 17 Oct 2026)
- [HBL Asaan Digital Account](https://www.hbl.com/personal/accounts/hbl-digital-accounts/hbl-asaan-digitalaccount), HBL (accessed 17 Oct 2026)
- [HBL Freelancer Digital Account](https://www.hbl.com/personal/accounts/current/hbl-freelancer-digital-account), HBL (accessed 17 Oct 2026)
- [HBL PLS Savings Account](https://www.hbl.com/personal/accounts/saving/hbl-pls-savingsaccount), HBL (accessed 17 Oct 2026)
- [HBL Mahana Amdan](https://www.hbl.com/personal/accounts/saving/hbl-mahana-amdan), HBL (accessed 17 Oct 2026)
- [HBL Value Account](https://www.hbl.com/personal/accounts/saving/hbl-value-account), HBL (accessed 17 Oct 2026)
- [HBL Daily Munafa Account](https://www.hbl.com/personal/accounts/saving/hbl-daily-munafaaccount), HBL (accessed 17 Oct 2026)
- [HBL Nisa Savings Account](https://www.hbl.com/personal/accounts/hbl-nisa/hbl-nisa-savings-account), HBL (accessed 17 Oct 2026)
- [HBL Rutba](https://www.hbl.com/personal/accounts/saving/hbl-rutba), HBL (accessed 17 Oct 2026)
- [HBL Money Club](https://www.hbl.com/personal/accounts/saving/hbl-money-club), HBL (accessed 17 Oct 2026)
- [HBL Basic Banking Account](https://www.hbl.com/personal/accounts/current/hbl-basic-bankingaccount), HBL (accessed 17 Oct 2026)
- [HBL iD](https://www.hbl.com/personal/accounts/current/hbl-id), HBL (accessed 17 Oct 2026)
- [SBP Policy Rate Explained for Savers](https://www.abl.com/sbp-policy-rate-explained/), Allied Bank (accessed 17 Oct 2026)
- [SBP limits minimum deposit profit rate to individual accounts up to Rs10 million](https://profit.pakistantoday.com.pk/2026/07/07/sbp-limits-minimum-deposit-profit-rate-to-individual-accounts-up-to-rs10-million), Profit (Pakistan Today) (accessed 17 Oct 2026)