Most Pakistanis hold less than Rs50,000 in their Bank accounts

New central bank figures reveal that over 70% of bank accounts in Pakistan hold deposits of less than Rs50,000, showing that most account holders maintain relatively modest balances.

The State Bank of Pakistan (SBP), in its latest Quarterly Payment Systems Review for the third quarter of FY25, reported that a substantial majority of bank accounts in Pakistan hold low deposit levels. The data shows that over 70% of these accounts contain balances below Rs50,000, highlighting a strong concentration of smaller savings across the country’s banking sector.

Meanwhile, 26% of bank accounts in Pakistan hold balances between Rs50,000 and Rs1 million. Only 3% of accounts carry more than Rs1 million, highlighting the limited distribution of substantial deposits and revealing a clear gap in account sizes across the banking sector.

The SBP report highlights the rapid shift toward digital transactions, with digital payment channels processing 89% of all retail transactions by volume. Mobile app-based banking led this transformation. During the quarter, retail payment volumes rose by 12%, reaching 2,408 million transactions worth Rs164 trillion.

Pakistan’s instant payment system Raast continued to expand rapidly, processing 371 million transactions worth Rs8.5 trillion during the period. Since its launch, Raast has facilitated a total of 1.5 billion transactions amounting to over Rs34 trillion, reflecting the country’s growing reliance on secure and fast digital payments.

Large-value payments remained strong as the SBP reported that the Real-Time Gross Settlement (RTGS) system processed 1.5 million transactions totaling Rs347 trillion during the same quarter. This system played a vital role in maintaining the stability and efficiency of Pakistan’s financial infrastructure.

The latest SBP data on bank accounts in Pakistan highlights the widespread presence of low-balance accounts and the growing adoption of digital payment channels. This data paints a complex picture of financial inclusion and reflects the country’s evolving consumer behavior.