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Terms &
Conditions
1. All
individual and joint account holders and sole proprietorships
are eligible for the UBL UniFlex Account (scheme); Corporations
and partnerships are ineligible for the scheme.
2. Only
one UBL UniFlex account per Computerized National Identity Card
(CNIC) shall be allowed to be opened in UBL, regardless of the
branch; no doubling shall be allowed even as joint account or
sole proprietor.
3. The
Bank shall determine from time to time the rate of
interest/return/profit payable on the account/deposit in
accordance with the prevailing profit and loss sharing rules and
regulations of the State Bank of Pakistan and the policies of
the Bank which are subject to change from time to time and the
account holder/depositor agrees to accept such rate of
interests/return/profit at the time such change was made.
4. If
the minimum balance touched during any calendar month exceeds
Rs.200,000/-, interest/return/profit shall only be paid on
Rs.200,000/- and no interest/return/profit will be paid on the
amount exceeding this limit.
5.
Interest/return/profit shall be accrued monthly, based on
minimum balance touched during the month, and disbursed six
monthly directly into the UniFlex account.
6.
The UBL UniFlex account cannot be overdrawn.
7. Accounts
that are closed in the middle of a month will not be eligible
for any interest/return/profit for the broken period of that
month.
8.
Wallet VISA card is optional; charges as per Schedule of Bank
Charges (SOC). (Please apply on the regular Account Opening
Form)
9.
Regular checkbooks shall be provided as per Schedule of Bank
Charges (SOC).
10. Customer
can only conduct a maximum of two withdrawal transactions in a
calendar month (inclusive of all instruments). These withdrawals
include but not limited to Net banking, cash withdrawal by ATM,
cash withdrawal over the counter, Inter Bank Funds Transfer (IBFT),
clearing, collection, Online banking, Tez Raftaar, Tez Ibex,
MT/DD/TT/PO/Online (UniRemote), RTC, etc. Any withdrawals more
than prescribed limit of two transactions shall attract 0%
interest/return/profit on the entire balance amount in the said
month.
11.
All single debit incidents to an account will be considered as
separate transactions except deductions by the bank for charging
service fee, Withholding Tax and Zakat deductions.
12.
All transactions, including the two withdrawals allowed will be
charged as per the Schedule of Bank Charges (SOC).
13.
The UniFlex Account Holder shall be required to maintain the
minimum balance requirement of Rs. 10,000/- during each calendar
month. Service charges where the average balance during the
month is less than Rs.10,000/- shall be applied as per the
Schedule of Bank Charges (SOC). |
