First Women Bank Limited
First Women Bank Limited (FWBL) provides a range of banking operations in Pakistan. It offers various financial products and services. These cater to individuals, businesses, and women entrepreneurs.
Deposit Products and Accounts
The FWBL Mahana Khazana Account offers monthly profit payments at the prevailing PLS rate. It requires a minimum deposit of PKR 100,000 for individuals. Sole proprietors need PKR 250,000. This is Pakistan's first checking-savings hybrid offering guaranteed monthly profit. The FWBL PEARL Account is exclusively for women customers. It is available in both savings and term deposit formats. It stands as the only women-exclusive deposit product in Pakistan's banking sector.
FWBL Zindagi Asaan Account allows instant account opening via CNIC only. It combines current and savings functionality. FWBL Smart Account provides unlimited free transactions across Pakistan. It is available for individuals and sole proprietors. The FWBL Current Account permits unlimited deposits and withdrawals. It is linked to FWBL ATM and debit cards. The Basic Banking Account complies with SBP BPD Circular 30 and has zero minimum balance.
The Hyper Profit Account calculates profit daily and pays semi-annually. It is applicable to individuals and business entities. FWBL Foreign Currency Savings Account accepts multi-currency deposits, including USD, EUR, and GBP. It has a minimum tenor of 1 year with an auto-renewal option. FWBL Term Deposit offers fixed tenors from 1 month to 5 years. Profit payment choices include monthly, quarterly, semi-annual, or at maturity. A Monthly Profit Payment Scheme for Senior Citizens/Pensioners offers a fixed return rate with monthly profit payments.
Expanding Digital Reach and Financial Inclusion
First Women Bank Limited (FWBL) is set to significantly enhance its digital banking infrastructure. This initiative aims to improve accessibility for its diverse client base, particularly focusing on women in underserved regions. The expansion includes upgraded mobile banking applications and increased ATM network coverage across Pakistan.
This strategic move is expected to attract a new generation of digital-native customers while providing existing clients with more convenient and efficient banking solutions, reinforcing FWBL's commitment to financial inclusion.
Financing for Entrepreneurs and Consumers
FWBL Nikhar offers Shariah-neutral participation financing up to PKR 5 million. The tenor is up to 5 years with equal monthly installments. The Business Loan for Women provides financing up to PKR 2 million. Its tenor is up to 5 years, with collateral as per SBP guidelines. The Refinance & Credit Guarantee Scheme for Women Entrepreneurs is an SBP-backed refinancing facility. It provides up to 75% SBP guarantee coverage. FWBL Khaas offers working capital financing for women-owned SMEs. It provides a revolving credit limit up to PKR 3 million. SBP Incentive Schemes offer subsidized markup under the SBP SME Credit Guarantee. Pre-approval processing completes within 5 working days.
A Salary Loan is available with varying KIBOR rates. Female & PWD customers receive 1-Yr KIBOR + 6% p.a. Male customers receive 1-Yr KIBOR + 7% p.a. The tenor is 14 years with equal monthly installments. Mera Cash utilizes 6-Month KIBOR + spread. It is secured against NSCs, TDRs, or prize bonds. The tenor is 15 years. This is the first cash-backed consumer loan leveraging NSCs and prize bonds as collateral. FWBL Housing Finance offers mortgage financing up to PKR 10 million. Its tenor is up to 20 years, with a floating markup linked to KIBOR. FWBL Low-Cost Housing Finance has KIBOR + 3% markup for middle-income customers. It offers a tenor up to 15 years and allows pre-payment without penalty. FWBL Solar Loan (Residential) covers up to 100% cost for rooftop solar panels. It has a tenor up to 10 years with fixed markup. FWBL Solar Energy Loan (Business) finances up to 85% project cost for solar PV systems. Tenor is up to 8 years with bespoke amortization.
Digital Banking and Card Services
The FWBL Digital Mobile Banking App enables real-time fund transfers. These include IBFT and FWBL-to-FWBL transactions. It supports biometric login and fingerprint authorisation. FWBL Internet Banking allows multi-currency remittances and utility bill payments. It uses two-factor authentication via OTP and transaction PIN. The FWBL PayPak Debit Card is a domestic scheme. It supports PIN-verified transactions. It provides access to 1LINK ATMs for withdrawals, mini-statements, and bill payments. The FWBL Mastercard Debit Card offers global acceptance at over 40 million POS and ATMs. It features EMV chip and contactless NFC technology. The FWBL ATM Card provides PIN-secured cash withdrawals nationwide. It also enables balance inquiry and mini-statement services via ATMs.
Digital Banking Growth
FWBL's digital banking initiatives are crucial for reaching women entrepreneurs in remote areas, enabling them to conduct transactions and access financial services with greater ease.