With Alfalah Quick Finance you can meet your immediate business expansion needs while keeping your savings secure. A business loan against National Saving Certificates, Prize Bonds, Alfalah GHP Principal Protected Fund & PKR/FCY deposit can help you meet your immediate working capital needs with absolute convenience and ease.
Features and Benefits
- Up to 90% financing against security deposit
- Alfalah Quick Finance is a personal/business loan against National Saving Certificates, Prize Bonds, Alfalah GHP Principal Protected Fund & PKR/FCY deposit
- The amount of financing under Alfalah Quick Finance ranges from Rs. 50,000 to Rs. 75,000,000 and up to Rs. 100,000,000 for corporates
- Quick and convenient processing
- Easily fulfill your business needs while keeping your savings secure
- Debit/ATM Card facility
- You are a Pakistani National Identity Card Holder
- You should be between 18 and 65 years of age at time of financing.
- You must be running a business for at least 3 years with a satisfactory track record.
Frequently Asked Questions
A running finance facility for proprietorship concerns, partnership firms, Ltd Co etc, in order to meet your business needs.
What is the amount of financing offered under AQF?
The amount of financing under AQF ranges from Rs. 50,000 to Rs. 75,000,000 and up to Rs. 100,000,000 for Corporates/ institutions.
What is the frequency of mark up repayment?
Quarterly mark-up is payable within 15 days of its due date.
What is the security that I will have to offer to avail AQF?
Defence Saving Certificates, Special Saving Certificates (Registered) & Regular Income Certificates issued by the Government of Pakistan under the National Saving Schemes and purchased through Banks, State Bank of Pakistan Offices and National Saving Centres shall be acceptable as security. Deposits of Bank Alfalah or other reputed banks (rated ‘A’ by the credit rating agency), Prize Bonds and Alfalah GHP Principal Protected Fund shall also be acceptable as security.
What are the Processing Charges?
Rs. 1000/- per application shall be charged irrespective of the amount of finance.
A processing fee of Rs 500/- shall be charged on the enhancement or renewal of facility.
How is the loan entitlement calculated?
AQF shall not exceed 90% of the encashment value of the security offered. In case of financing against a foreign currency deposit, the maximum financing should not exceed 85% of the deposit encashment value.
What is the mark up ratio?
Mark up ratio depends on 6 months KIBOR or on the profit earned against deposits made in Bank Alfalah.
What documentation is required to avail Alfalah Quick Finance?
A copy of government securities, TDRs (released by A-grade banks) or prize bonds can be submitted as security.- Copy of CNIC.- Basic fact sheet- A copy of last paid telephone bill (PTCL or mobile).- In case of a business loan, the documentation will be as per the legal structure of the firm/business.