What does AQF stand for? Alfalah Quick Finance is a personal loan against National
Saving Certificates, Prize Bonds, Alfalah GHP Principal
Protected Fund & PKR/FCY deposit.
What kind of financing facility does the Bank provide
under AQF? Running Finance Facility for individuals for meeting their
personal, family or Household needs.
What is the amount of financing offered under AQF? The amount ranges from Rs. 50,000 to Rs. 2-1/2 Crore.
What is the mark-up rate? In case of PKR Deposit with BAL taken as a security, minimum
1.75 % spread over deposit rate.
In case of DSCs/ SSCs/ RICs/Alfalah GHP Principal
Protected Fund/ FCY Deposits and PKR Deposit with other banks
taken as a security, minimum 1.75% spread over 6-month KIBOR
(Ask).
In case of prize bond minimum 2% spread over 6 months KIBOR
(Ask).
What is the frequency of mark up repayment? Quarterly mark-up is payable within 15 days of its becoming
due.
What is the security that I will have to offer to avail
AQF? Defence Saving Certificates, Special Saving Certificates
(Registered) & Regular Income Certificate 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 BAL or other reputed banks (rated ‘A’ by 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.
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 Foreign Currency
Deposit the maximum financing should not exceed 85% of the
deposit encashment value.
In case of Alfalah GHP Principal Protected Fund taken as a
security the financing approved under AQF shall not exceed 70%
of the face value of units held by the borrower.
What is the clean-up requirement under AQF? At least 15% adjustment of the maximum utilization of the
limit during the year for a minimum period of one week.
What is the criterion for renewal? Renewal or enhancement of AQF shall be subject to at least
25% average utilization of the existing limit.
Are there any late payment charges? Failure to pay quarterly mark-up within 15 days of becoming
due shall attract a penalty of Rs 200/- per day.
