SBS Installment Plans

SBS Installment Terms & Conditions



  • “BAFL” means Bank Alfalah limited.
  • “Basic Card member” Card member to whom BAFL has issued the original basic credit card
  •  “BAFL step by step (SBS)” means the purchase of goods and services by the Basic Cardmember for the Card member to utilize the available credit limit and repay the transaction amount in equal monthly installment according to the credit card terms and conditions and SBS terms & conditions.
  • The purpose of the SBS is to enable the Card members to purchase goods and services using Credit Limit available on the Card and repay the Transaction amount in equal monthly installments in accordance with the Terms & Conditions.
  • “SBS Period” is the number of monthly installment as selected at the time of availing SBS. BAFL, at its own direction, can change the SBS period without assigning any reason.
  • “SBS fee/charges” means all applicable fee/charges as the Bank may specify time to time through the Schedule of Charges (SOC) or through written notice to the Cardmember and payable by the Cardmember in relation to the Card transaction made and or converted into SBS.
  • “Total SBS Prices” includes the purchase price (inclusive off all eligible taxes) and applicable SBS charges as per the Schedule of charges (SOC)
  • “Terms & Conditions” means the Terms & Conditions applicable on BAFL Limited Credit Card. All terms & Conditions are in addition to the referred conditions.
  • SBS processing fee of 2.5% or Rs.500/- (whichever is higher) shall be applicable per transaction. The Bank reserves the right to change all the SBS related fees and charges at its own discretion.
  • “Pre-closure penalty” If customer cancel his SBS plan before the completions of period which he was selected at the time of booking, then BAFL shall levied pre-closure penalty i.e. 5% of the remaining loan amount or Rs. 1,000 (whichever is higher) Apart from 0% SBS plan, all fees/charges shall be applicable as mentioned in the SOC.




2.1   If the Card member meets the Terms and Conditions of Bank’s Credit Card and also the Terms and Conditions specified herein,   he/she may be eligible for enrolling in SBS. SBS is available for and shall only be offered to those Card members, who abide by the Credit Card Conditions, meet the minimum transaction floor limit and have the required Credit Limit on his/her Credit Card Account.

2.2   All retail transactions made within Pakistan or outside Pakistan (greater than or equal to PKR 3,000), can be converted into SBS, however, the Bank may at any time, upon giving prior information to the Card member, change the above mentioned floor limit.

2.3   The transactions shall only be transferred to SBS for full amounts. The Bank shall not allow partial transaction amounts to be transferred on to SBS.

2.4   SBS shall be available to the Card member for Goods and Services purchased and the transactions performed through Credit Card issued by the Bank from time to time.

Conducting SBS Transaction


3.1   In case the Cardmember is unable to effect payment of the SBS installment on or before the payment due date, the Cardmember becomes liable to pay the service fees as per the terms and conditions

3.2   The Cardmember shall pay the total SBS price inclusive of all applicable SBS charges in equal monthly installments (SBS monthly installment) based on SBS terms chosen by the Cardmember.

3.3   The Bank shall process and authorize an SBS transaction provided that the amount of SBS transaction is within the available credit limit and regulation adopted by the Bank and the terms and conditions. The approved SBS transaction shall appear on the next statement of account.

3.4   In case the Card member decides to cancel his/her SBS then the Card member shall be liable to pay the pre-closure penalty amount as per the Bank’s Schedule of Charges (SOC). Products offered on 0% are as per tenures defined in the brochures under respective product codes/product model.

3.5   The Card member having made a BAFL Credit Card transaction can ask for the transference of his/her specified transaction to the SBS. The Card member shall be able to utilize SBS from time to time by giving oral instructions, via telephonic communication to the Bank’s 24-hour Authorization Centre. The personnel at Authorization Centre, having established the identity of the Card member and obtaining other necessary details, shall fill the application form on the basis of the information provided by the Card member.

3.6   Installment billed to card member on cycle date shall be included in Minimum Payment of the said card member

3.7   The SBS Terms & Conditions may vary from one offer to another and different Installment Charge Rates can be levied based on the nature of the offer and duration of the Installment Plan opted by the Card member.


Billing & Payments of SBS Installments


4.1   Based on acceptance of the SBS instructions, SBS monthly installment shall be billed to the Cardmember following the next month statement of account after the date of purchase and every month thereafter, until the total SBS price is settled and paid in full.

4.2   In case of availing SBS facility, the minimum payment amount on the statement of account shall include, but is not limited to all outstanding liabilities and other amounts, the SBS installment(s) and any excess amount(s) over the credit limit and all past due amounts, if any.

4.3    If the Cardmember pays less then the monthly minimum amount on the payment due date specified in the statement of account, the Cardmember becomes liable to pay service fee/charges according to the terms & conditions.

4.4   The Cardmember may be allowed to repay the outstanding SBS amount in lump sum, subject to the payment of Pre-closure Penalty to the Bank. The Bank may, from time to time, as it deems fit in its absolute discretion, revise the prepayment charges.

4.5   In case the card is cancelled or not renewed by the bank or the SBS facility is terminated by the Bank, or the Cardmember terminates the card, the SBS transaction is terminated automatically and the Cardmember is liable to pay the remaining installment immediately along with the Pre-Closure Penalty / Charges upon receipt of the statement of account / notice of termination.

4.6   In case of failure of the Cardmember to deposit any installment, the Bank reserves the right to confiscate/take in its possession the said goods. The Bank also reserves the right to sell the goods and recover all unpaid installments, costs, charges, expenses, etc., incurred at its end, balance amount if any may be refunded to the Cardmember.


 Product Liability

The Bank shall not be liable for any damage or loss incurred by the Cardmember arising out of the purchase, installation, use or otherwise of the Good(s) and/or Service(s) under SBS for any negligence, breach of statutory or other duty on the part of the merchant nor shall the Bank be responsible in any way for the quality of the Good(s) and/or Service(s) purchased under SBS. Any complaint as to the quality of Goods purchased or Services rendered through SBS shall be referred to the Supplier or Merchant and shall not affect Card member’s obligation to continue paying the SBS monthly installments to the Bank.


Modifications, amendments and cancellation

7.1   The Bank is entitled at any time and without any prior notice or liability to the Card member in any manner whatsoever to terminate SBS or cancel or vary its benefits or features, or vary, or add or delete any of these Terms and Conditions. The Bank is also entitled to determine a floor limit for the minimum amount of purchases allowed under the SBS for each particular offer.

7.2   The Bank reserves the right to disqualify any Card member from further participation, if in its judgment, the Card member has in any way violated these Terms and Conditions, or has violated the Credit Card Terms and Conditions.

7.3   The Bank shall be entitled to disallow/refuse any application form submitted by the Card member to it under SBS without assigning any reason whatsoever.

7.4   The Bank would reserve the absolute right to accept/reject the request for conversion of the transaction or balance to SBS.




8.1   The Bank shall not be liable if it is unable to perform its obligations under these Terms and Conditions, for any reason whatsoever.

8.2   These Terms and Conditions shall be without prejudice to the existing Credit Card Conditions governing the issue of and use of the Bank’s Credit Card and shall apply to SBS.

8.3   If at any time, dispute arises in connection with the SBS or these Terms and Conditions, the Bank’s decision in connection with the same shall be final and binding. The Bank reserves the right to terminate the SBS without prior notice.

8.4   Each of these Terms and Conditions shall be severable and distinct from one another, if at any time anyone or more of such Terms and Conditions becomes invalid, illegal, or unenforceable, the validity, legality or enforceability of the remaining provisions shall not be in any way impaired or affected thereby.

8.5   The Terms shall be governed and construed according to the laws of Pakistan and the Courts of Lahore shall have non-exclusive jurisdiction to settle any dispute from the term.

8.6   Force Majeure: In the event of the occurrence of a Force Majeure event that directly affects the ability of the Bank hereto to perform its obligation hereunder, the Bank shall be entitled to suspend performance of such an obligation for the duration of the Force Majeure event. Force Majeure includes acts of God, war, riots, hostilities, revolution, civil commotion, strike, epidemic, accident, fire, flood, earthquake, explosion, blockade, and or any other cause similar to the kind herein enumerated or of equivalent force not within the control of the Bank.


9.1   Delivery of the product would be subject to the availability of stock.

9.2   BAFL shall not be liable if merchant is unable to arrange the product with in time period including but not limited to stock issues.

9.3   All SBS products are subject to the availability and market price, any increase in price shall be notified at Phone Banking/Web site and Card members shall be communicated at the time of booking.

9.4   All SBS promotions are valid for a limited time.

9.5   Certain Terms & Conditions pertaining to a specific SBS product shall be indicated on it.

9.6   By signing the “SBS Application From”, it is assuming that you have read, understood and agreed with the “Terms & Conditions” mentioned on the SBS flyer and BAFL website link i.e. ________________.

9.7   BAFL shall not in any way be held responsible for the quality and fitness of or the purpose, merchantability of the SBS product delivered by the Merchant.

9.8   BAFL shall not be liable for any loss or damaged incurred or suffered by the Cardmember by reason of a Business Partner refusing to allow a transaction or accepting Credit Card.


Cancellation of SBS


If a Cardmember discontinue/cancel SBS installment plan, he/she shall be liable to pay Pre-Closure penalty applicable to the outstanding installment amount.


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