Microfinance Bank Savings Account Rules in Pakistan: Rs 100 to Open, No Minimum Balance
SBP rules cap the opening deposit for a microfinance bank savings account at Rs 100, with no minimum balance or service charges. See statement and charge rules.
Short answer: a microfinance bank in Pakistan can ask for no more than Rs 100 to open a profit and loss savings account, cannot set a minimum balance on it, and cannot charge service fees on it. Profit must be paid whatever your balance. These are State Bank of Pakistan rules.
They come from Regulation O-3 of the SBP's Prudential Regulations for Microfinance Banks, updated on 16 May 2025, which we read on 20 October 2026. The regulation says microfinance banks should build deposit products for "small savings from low-income and underserved segments particularly women".
A microfinance bank, or MFB, is a bank licensed by the SBP to serve people and small businesses that ordinary banks often miss. Easypaisa's app is run by easypaisa Bank Ltd, and JazzCash by Mobilink Microfinance Bank. Many people hold money with an MFB without knowing these protections exist.
Profit and loss savings accounts carry no service charges
On profit and loss sharing (PLS) deposit accounts, a microfinance bank "shall not levy service charges for their deposit services". A PLS account is an ordinary savings account where profit is shared with you. The rule does not cover accounts sold with added services.
| SBP rule for microfinance bank PLS accounts | What it means for you |
|---|---|
| No service charges on deposit services | No monthly or yearly account fee |
| No minimum balance | No penalty for a low balance |
| Opening deposit not above Rs 100 | You can start with Rs 100 or less |
| Profit paid with no minimum balance condition | Small balances still earn profit |
| Statements at least half-yearly from Rs 5,000 average balance | A record of your money twice a year |
So if a microfinance bank deducts a maintenance fee from a plain PLS savings account, ask in writing which service it is for. A card, a cheque book or an insurance add-on is a different matter and can carry its own fee.
You need at most Rs 100 to open, and no minimum balance after that
The SBP says there "shall be no minimum balance requirements" on these accounts. A microfinance bank may ask for an initial deposit, but it cannot exceed Rs 100. Profit on PLS accounts must be paid without any minimum balance condition.
That last point protects small savers. A Rs 2,000 balance earns profit at the account's rate, just as Rs 200,000 does. Commercial banks follow a separate profit floor set by the SBP, explained in the minimum profit rate on bank savings.
Charges are fixed for six months and published 7 days ahead
Microfinance banks must fix their service charges in advance for each half year, January to June and July to December. The schedule must be available at least 7 days before the half year starts, on the bank's website, and not changed during that period.
Banks must also send the schedule to the SBP before the half year starts and tell customers about new charges through SMS, email or online banking. In practice, Mobilink Microfinance Bank publishes the JazzCash branchless schedule every quarter, and on 12 October 2026 it dropped the JazzCash inactivity fee mid-quarter. Easypaisa Bank's current branchless schedule also runs for one quarter, October to December 2026.
If you see a new charge that was not in the published schedule, take a screenshot of the deduction and of the schedule page. That is your evidence.
Statements come at least every six months above Rs 5,000
For accounts with an average daily balance of Rs 5,000 or more, a microfinance bank must send a statement at least every six months. It can be by registered post, courier, email or another means you choose. Below Rs 5,000, each bank sets its own policy.
If statements come back undelivered, the bank must make reasonable efforts to update your address. Most people now see their history in the app, which is fine, but a formal statement is what you need for a visa file or a dispute.
Terms must be in Urdu and read out to you
The account opening form must set out the terms, including charges and what happens on dormancy, closing and reactivation, in both English and Urdu. You sign it to show you understood. Terms must be read out, copied and handed to you after signing.
The terms must also be displayed at branch entrances, on the bank's website and in its app, and cannot discriminate by race, gender, ethnicity or religion. A dormant account at a microfinance bank follows the terms you signed, so keep your copy. Reactivating a dormant account at a commercial bank is covered in reactivating a dormant bank account.
Check your microfinance account in five steps
Find your account type, read the current schedule of charges, compare it with your deductions, ask for a statement if your balance qualifies, and complain in writing if something does not match. Each step uses a right the SBP sets.
- Confirm your account is a PLS savings account, and whether any added service is attached to it.
- Open the bank's current schedule of charges on its website and note the period it covers.
- Compare every deduction in your history with the schedule. A PLS account should show no service charge.
- If your average balance is Rs 5,000 or more, ask for your half-yearly statement by email.
- Complain to the bank with screenshots, then to the SBP if it is not fixed, as set out in complaining about a microfinance bank.
Common questions
What is the minimum deposit to open a microfinance bank account?
No more than Rs 100 for a PLS deposit account, under SBP rules for microfinance banks.
Can a microfinance bank charge a minimum balance fee?
No. The SBP says there shall be no minimum balance requirements on PLS deposit accounts.
Do small balances earn profit at a microfinance bank?
Yes. Profit on PLS accounts must be paid without any minimum balance condition.
How often must a microfinance bank send a statement?
At least every six months if your average daily balance is Rs 5,000 or more.
Can a microfinance bank change its charges at any time?
Its schedule is meant to be fixed for each half year, published 7 days ahead and not changed during that period.
How we verified this
What we checked, where we read it, and what we could not confirm.
We read Regulations O-3 and O-4 of the State Bank of Pakistan's Prudential Regulations for Microfinance Banks, updated on 16 May 2025, on 20 October 2026. We also read the October to December 2026 branchless schedules of Mobilink Microfinance Bank for JazzCash and of easypaisa Bank. We could not confirm how the SBP applies the half-yearly charges rule to branchless wallet schedules, and we did not open a microfinance account to test the Rs 100 opening deposit.
About the author
Public Services and Education Journalist
Fajr Riaz is a journalist and content writer at Pakistan Era, based in Lahore. She covers the questions people meet in everyday life in Pakistan: how a public service works, what a change in the rules means, and where to find a reliable answer.
