07/10/2022
BANK ALFALAH ( SAVING. ACCOUNTS)
Alfalah PLS Savings Account is a basic savings account on which profit is calculated on the minimum rate of return and credited to the customer semi-annually.
Product Feature / Benefits / Unique Selling Points:
Open with an initial deposit of Rs 100 only
No monthly minimum balance requirement
Profit is calculated on the average balance
Profit is paid semi-annually
Online banking allowed for transactions within the Bank Alfalah network.
No restrictions on the number of withdrawals or deposits
Cheque book and debit cards available (charges applicable as per SOCs)
Easy access to funds through cheque book and VISA Debit/ATM Card that can be used globally at over 30 million outlets and at more than 2 million ATMs
Free account statement semi-annually.
Free E-Statements.
Unique Selling Points:
Saving account with no minimum monthly balance requirement.
Free locker facility for 1 year on maintaining a monthly average balance of Rs. 5 million. A small/medium locker can be provided subject to availability.
Free account statement semi-annually.
Free BAL online transactions within the same city.
No restrictions on the number of ATM withdrawals.
Do all BAL branches country-wide offer this product?
Yes.
Who can open this account?
Any Pakistani resident can open this account. NRP’s can open this account based on providing the relevant documentation. This account is for all categories including individuals/joint account holders, sole proprietors, private limited companies, public limited companies, partnerships.
What is the minimum balance requirement for PLS Saving Account?
There is no minimum balance requirement for this account. Account can be opened with Rs. 100/-.
Are any categories of customers exempt from the initial deposit/service charge requirement?
Yes. The following categories of customers are exempt from the initial deposit requirement: Students, Staff, Mustahiqeen of Zakat, Employees of Govt/Semi Govt institutions for salary and pensions, merchant accounts of Alfalah acquiring business. Widows/Children of deceased employees of govt/semi govt institutions eligible for family pension/benevolent funds or grants.
When will account statement be generated?
Account statement will be generated on a semi-annual basis.
Will customer be issued cheque book and VISA Debit/ATM card?
Yes, cheque book and VISA Debit/ATM card will be issued to customers.
Is there any profit rate applicable on this account?
Yes. The prevailing minimum rate of return is applicable with profit calculated on the average balance in the account and paid out semi-annually.
Is BAL online facility available for this account?
Yes it is. Within city transactions are free. Other charges are as per the bank’s SoC’s
What if the customer gives up the locker before the end of the free first year?
No charges will be recovered from the customer.
Are there any other charges for this account?
All charges are applicable as per the prevailing ‘Schedule of Charges’.
Thanks & Regrads
Kainat Abdul qadir
RELATIONSHIP EXECUTIVE
Bank Alfalah limited
Pakistan Stock Exchange Branch (0012)
E-mail: [email protected]
Contact : 021-32473650
0322-0201752
