# MCB accounts compared: which account to open

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

## Summary

From 1 August to 31 December 2026, MCB's provisional rate on all its rupee savings accounts is 10% a year for individuals up to Rs 10 million, and 9% above. Profit is paid twice a year on PLS Savings, quarterly on Smart Savings and Nayab Savings, and monthly on Saving 365 Gold, Saving Xtra and Senior Citizen. Under the July to December 2026 schedule, MCB's current accounts have no minimum balance, but cheque leaves cost Rs 20 on current and Rs 32 on savings accounts.

## Key facts

- Savings rate (Aug–Dec 2026): 10% up to Rs 1 crore
- Minimum balance (Jul–Dec 2026): None on most accounts
- Cheque leaf (Jul–Dec 2026): Rs 20 current, Rs 32 savings
- Asaan account cap: Rs 3 million balance

The right MCB account depends on whether you want profit. For individuals, all 24 savings products in MCB's rate circular pay **10% a year** on balances up to Rs 1 crore (provisional rate, 1 August to 31 December 2026); they differ in how often profit is paid. MCB's current accounts pay no profit, and most of them have **no minimum balance**. If you have little paperwork, the **Asaan account** opens with Rs 100.

**MCB savings rate, individuals, up to Rs 1 crore:** 10.00% a year (Provisional rate on all 24 MCB rupee savings products, 1 August to 31 December 2026. Above Rs 10 million it is 9.00%.)

## Which MCB account should I open?

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

| You want | MCB account | Why |
|---|---|---|
| Profit, paid twice a year | PLS Savings | 10% up to Rs 1 crore, unlimited withdrawals, no maintenance fee |
| Monthly profit | Saving 365 Gold or Saving Xtra | 10% up to Rs 1 crore, paid monthly; opens with Rs 100 |
| An everyday account with no balance rules | Current Account or MCB One | No minimum balance; MCB One adds free services at Rs 10,000 |
| An account with little paperwork | Asaan | Opens with Rs 100; up to Rs 3 million balance |
| To get paid from abroad as a freelancer | Freelancer Pak Rupee Current or Savings | Comes with a foreign currency ESFCA (Exporter's Special Foreign Currency Account) |
| An account for a woman, senior or child | Nayab, Senior Citizen, Fun Club | Free cheque books or fee discounts |

MCB Bank is a conventional bank. Its Islamic banking is a separate bank, **MCB Islamic Bank**, which MCB wholly owns; we haven't covered its accounts here. For a fully Islamic bank, see [Meezan Bank accounts](/money/guides/meezan-bank-accounts/).

## What are the MCB account types?

MCB lists these rupee accounts for individuals. Rates are from MCB's provisional rate circular for 1 August to 31 December 2026, and the balance rules from its July to December 2026 Schedule of Bank Charges and product pages.

| Account | Type | Profit (up to Rs 1 crore) | Profit paid | Balance rule |
|---|---|---|---|---|
| PLS Savings | Savings | 10.00% | Twice a year | No account maintenance fee |
| Saving 365 Gold | Savings | 10.00% | Monthly | Opens with Rs 100 |
| Saving Xtra | Savings | 10.00% | Monthly | Opens with Rs 100 |
| Smart Savings | Savings (no cheque book) | 10.00% | Quarterly | Opens with Rs 100 |
| Senior Citizen Savings (55+) | Savings | 10.00% | Monthly | Opens with Rs 100 |
| Nayab Savings (women) | Savings | 10.00% | Quarterly | No minimum balance |
| Freelancer Pak Rupee Savings | Savings | 10.00% | Quarterly | No minimum balance |
| Asaan Savings | Savings | 10.00% | Not stated | No minimum balance |
| Current Account | Current | None | n/a | No minimum balance |
| MCB One | Current | None | n/a | Free services at Rs 10,000+ average |
| Basic Banking | Current | None | n/a | No minimum balance |
| Nayab Current (women) | Current | None | n/a | No minimum balance |
| Freelancer Pak Rupee Current | Current | None | n/a | No minimum balance |

Saving 365 Gold and Saving Xtra are tiered accounts meant for larger balances, but from August to December 2026 individuals get the same 10% up to Rs 10 million across MCB's savings range. Several accounts marked in MCB's July to December 2026 schedule (MCB One, Nayab, Freelancer, Young and others) carry a monthly bundle service charge of **Rs 1**.

## What is the MCB PLS saving account profit rate in 2026?

MCB's circular of 17 August 2026 sets one provisional rate for all 24 of its rupee savings products, from PLS Savings to Nayab and Freelancer savings.

| Who | 1 Aug to 31 Dec 2026 | July 2026 |
|---|---|---|
| Individuals, monthly average up to Rs 10 million | 10.00% | 10.00% |
| Individuals above Rs 10 million | 9.00% | 10.00% |
| Companies, sole proprietors, partnerships, trusts | 9.00% | 10.00% |

The rates are **provisional**: MCB declares the final rates after the half year ends. Profit is worked out on your average monthly balance on the accounts whose pages say so (Saving 365 Gold, Saving Xtra, Smart Savings, Senior Citizen).

MCB's 10% matches the legal minimum. According to an Allied Bank explainer (we couldn't open SBP's site), banks must pay individuals at least 10% a year on savings, 50 basis points below the State Bank's 10.50% floor rate (as of the 15 September 2026 policy decision). MCB's circular cites SBP's letter of 6 July 2026 limiting that minimum to individuals with up to Rs 10 million, from 1 August 2026, which is why MCB pays 9% above it.

Term deposits pay much less at MCB. For Rs 1 lakh to Rs 4,99,999, a 12-month deposit paid **7.07%** at maturity and a 1-month deposit 6.634% (provisional, July to December 2026). A savings account at 10% beats them. 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/).

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

A current account pays nothing but suits frequent payments. MCB has a plain **Current Account** and the tiered **MCB One**. Figures are from the July to December 2026 schedule and exclude tax unless marked.

| | Current Account | MCB One (Rs 10,000+ average) | PLS Savings |
|---|---|---|---|
| Profit | None | None | 10% up to Rs 1 crore |
| Minimum balance | None | None (below Rs 10,000 the free services stop) | No maintenance fee |
| Cheque book | Rs 20 a leaf | Free, unlimited | Rs 32 a leaf |
| Banker's cheque | As per schedule | Free, unlimited | As per schedule |
| SMS alerts for branch transactions | Rs 250 a month | Free | Rs 250 a month |
| Debit card | Normal fee | Free issuance of PayPak Classic, PayPak Gold, Visa Silver and Visa Gold | Normal fee |

So if you'll keep Rs 10,000 or more on average and write cheques, MCB One gives the most free services. If you only want profit, **PLS Savings** is simple: no maintenance fee, unlimited withdrawals and 10% up to Rs 1 crore.

**MCB One's page and its schedule don't match:** The MCB One page says a Rs 10,000 monthly average balance unlocks free services, but the same page also lists a required monthly average balance of Rs 50,000. MCB's July to December 2026 schedule sets the free tier at Rs 10,000 or more, so we follow the schedule. Ask the branch before you open it.

## What are MCB account charges?

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

| Service | Charge |
|---|---|
| Withdrawal at another bank's (1Link) ATM | Rs 35 |
| Balance inquiry at another bank's ATM | Rs 4.67 |
| IBFT (to another bank) | Free up to Rs 25,000 a month, then Rs 200 or 0.1%, whichever is lower |
| IBFT through Raast | Free |
| Debit card, issuance and annual fee each | PayPak Classic Rs 2,200; PayPak Gold Rs 2,500; Visa Silver Rs 3,300; Visa Gold Rs 4,500; Visa Platinum Rs 14,000 |
| Cheque book | Rs 20 a leaf (current), Rs 32 a leaf (savings) |
| SMS alerts for branch transactions | Rs 250 a month (Asaan Rs 135); digital ones free |
| Stop payment | Rs 700 per instruction |
| Cheque returned for low balance | Up to Rs 800 |
| Duplicate statement | Rs 35 (incl. tax) |
| Balance or account maintenance certificate | Rs 300 |
| Closing the account | Free |

MCB's key fact statement for PLS Savings (July to December 2026) lists internet and mobile banking as free, and says an account becomes dormant after a year with no transaction you start or MCB Live login. For how MCB compares with other banks, see [bank charges in Pakistan](/money/guides/bank-charges-pakistan/).

## What is the MCB Asaan account limit?

The MCB Asaan account can hold up to **Rs 3 million**, and you can move out (debit) up to **Rs 1 million a month**, according to MCB's Asaan page (checked 17 Oct 2026). It is meant for people with little banking history and has a simplified opening process.

- **Opening:** initial deposit as low as Rs 100, and no charge for opening or closing.
- **Balance:** no minimum balance.
- **Free:** intercity deposits, withdrawals and transfers, e-statements and internet banking.
- **SMS alerts:** Rs 135 a month for branch transactions (July to December 2026 schedule), less than the Rs 250 on other accounts.

It comes as a current or savings account; the savings version is on MCB's 10% list. Under the same schedule, the digital versions (Asaan Digital Current and Savings, plus remittance variants) also have no minimum balance, and the first Visa Silver debit card is free to issue, with the annual fee after that. For how Asaan accounts work at other banks, see [Asaan account](/money/guides/asaan-account/).

## How does the MCB freelancer account work?

MCB offers a **Freelancer Pak Rupee Current Account** and a **Freelancer Pak Rupee Savings Account**. Either one is opened together with a **Freelancer ESFCA** in US dollars, pounds or euros. Fees below are from the July to December 2026 schedule.

- **Keeping foreign currency:** you can keep USD 5,000 a month or 50% of your export proceeds, whichever is higher, in the ESFCA, and convert it to rupees any time.
- **No balance rules:** no opening deposit, no maintenance fee and no minimum balance.
- **Current version:** 1 free cheque book and 2 free banker's cheques a month, free PayPak Classic and Gold cards (issuance and annual fee) and free Visa Gold Plus issuance.
- **Savings version:** 10% up to Rs 1 crore (Aug to Dec 2026), paid quarterly, with 1 free cheque book and 1 free banker's cheque a month.

The Freelancer Pak Rupee Current Account can also be opened in the MCB Live app. For other ways to receive money from clients, see [freelancer payment methods](/business/guides/freelancer-payment-methods-pakistan/).

## How do I open an MCB account online?

MCB's digital onboarding runs through the MCB Live app (checked 17 Oct 2026). MCB says you need only your CNIC and no branch visit.

1. **Download MCB Live.** Get the app on your phone.
2. **Enter your registered mobile number.**
3. **Verify with your CNIC.**
4. **Complete biometric verification.**
5. **Choose the account.** The app offers Asaan Digital Current, Asaan Digital Remittance Current and Freelancer rupee current accounts.

The Nayab Savings account for women can also be opened through MCB Direct. For other banks' apps, see [open a bank account online](/money/guides/open-bank-account-online/).

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

- **Nayab Savings (women):** 10% paid quarterly, opens with Rs 100, no minimum balance, 1 free cheque book and 1 free banker's cheque a month, free PayPak card issuance.
- **Nayab Current (women):** no minimum balance, free cheque books and debit cards, optional free health and life insurance, and a small locker free for the first year if one is available.
- **Senior Citizen (55 and above):** the savings version pays 10% monthly. Banker's cheques, cheque books, a small locker and Visa Silver or Gold cards are half price (July to December 2026 schedule).
- **Fun Club (children):** for minors under 18 with a parent, or under 21 with a court-appointed guardian. The Fun Club debit card costs Rs 1,000, free if the current account averages Rs 50,000 (July to December 2026 schedule).

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

## Questions people ask

### What is the MCB PLS saving account profit rate in 2026?

From 1 August to 31 December 2026, MCB's provisional rate on the PLS Savings Account is 10.00% a year for individuals with a monthly average balance up to Rs 10 million. Above Rs 10 million it is 9.00%. Profit on PLS Savings is paid twice a year.

### What is the MCB account opening fee?

The MCB Asaan account has no charge for opening or closing and opens with as little as Rs 100. Saving 365 Gold, Saving Xtra, Smart Savings, Nayab and Senior Citizen accounts also open with Rs 100. The Freelancer accounts need no opening deposit at all.

### Is there a minimum balance in an MCB current account?

No. MCB's Current Account, Basic Banking, Asaan, Nayab and Freelancer accounts have no minimum balance requirement. On the MCB One account, keeping Rs 10,000 or more on average unlocks free cheque books, banker's cheques and SMS alerts (July to December 2026 schedule), though MCB One's own page also mentions Rs 50,000.

### What is the MCB Asaan account limit?

An MCB Asaan account can hold up to Rs 3 million, and you can take out up to Rs 1 million a month. It opens with Rs 100 and has no minimum balance.

### Is MCB an Islamic bank?

No, MCB Bank is a conventional bank. Its Islamic banking is a separate bank, MCB Islamic Bank, which MCB wholly owns.

## Sources

- [Circular FCG-BS-2026-38: Revision in Provisional Profit Rates LCY Deposits, 1 Aug to 31 Dec 2026](https://www.mcb.com.pk/assets/documents/Circular-No-FCG-BS-2026-38-Dated-August-17-2026-Revision-in-Provisional-Profit-Rates-LCY-Deposits-From-Aug-01-2026-to-Dec-31-2026.pdf), MCB Bank (accessed 17 Oct 2026)
- [Schedule of Bank Charges, July to December 2026](https://www.mcb.com.pk/assets/documents/SOBC-July-December-2026-English.pdf), MCB Bank (accessed 17 Oct 2026)
- [Key Fact Statement, PLS Savings Account, July to December 2026](https://www.mcb.com.pk/assets/documents/K28-PLS-ENG-30-06-26.pdf), MCB Bank (accessed 17 Oct 2026)
- [Pricing / PLS rates](https://www.mcb.com.pk/quick-links/pricing-pls-rates), MCB Bank (accessed 17 Oct 2026)
- [MCB Current Account](https://www.mcb.com.pk/personal/deposit-accounts/current-deposit/current-account), MCB Bank (accessed 17 Oct 2026)
- [MCB One Current Account](https://www.mcb.com.pk/personal/deposit-accounts/current-deposit/mcb-one-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Basic Banking Account](https://www.mcb.com.pk/personal/deposit-accounts/current-deposit/basic-banking-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Asaan Account](https://www.mcb.com.pk/personal/deposit-accounts/current-deposit/mcb-asaan-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Saving 365 Gold Account](https://www.mcb.com.pk/personal/deposit-accounts/savings-deposit/365-saving-gold-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Saving Xtra Account](https://www.mcb.com.pk/personal/deposit-accounts/savings-deposit/saving-xtra-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Smart Savings Account](https://www.mcb.com.pk/personal/deposit-accounts/savings-deposit/smart-saving-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Senior Citizen Savings Account](https://www.mcb.com.pk/personal/deposit-accounts/savings-deposit/mcb-senior-citizen-savings-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Nayab Savings Account](https://www.mcb.com.pk/personal/deposit-accounts/savings-deposit/mcb-nayab-savings-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Nayab Current Account](https://www.mcb.com.pk/personal/deposit-accounts/current-deposit/mcb-nayab-current-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Freelancer PKR Current Account](https://www.mcb.com.pk/personal/deposit-accounts/current-deposit/mcb-freelancer-pkr-current-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Freelancer PKR Savings Account](https://www.mcb.com.pk/personal/deposit-accounts/savings-deposit/mcb-freelancer-pkr-savings-account), MCB Bank (accessed 17 Oct 2026)
- [MCB Fun Club](https://www.mcb.com.pk/personal/deposit-accounts/current-deposit/fun-club-banking-for-kids), MCB Bank (accessed 17 Oct 2026)
- [MCB Digital Onboarding](https://www.mcb.com.pk/personal/digital-banking/digital-onboarding), MCB Bank (accessed 17 Oct 2026)
- [SBP Policy Rate Explained for Savers](https://www.abl.com/sbp-policy-rate-explained/), Allied Bank (accessed 17 Oct 2026)
- [PACRA Maintain the Entity Ratings of MCB Islamic Bank Limited, 23 June 2026](https://www.mcbislamicbank.com/assets/documents/PACRA-Ratings-June-2026.pdf), PACRA (accessed 10 Oct 2026)