Overview
The Bank Alfalah Islamic Freelancer Digital Current Account is tailored for freelancers and digital service providers in Pakistan who receive payments from abroad. Open your account instantly through the RAPID portal with zero initial deposit and minimal documentation.
What you get
- Dual accounts: PKR Current Account + USD Exporters’ Special Foreign Currency Account (ESFCA).
- Retention of up to USD 5,000/month or 50% of export proceeds in USD.
- Flexibility to convert USD to PKR anytime or use directly for digital payments (subscriptions, certifications, marketing, etc.).
- Free SMS alerts, e-statements, and cheque book (PKR only).
- Free takaful coverage up to PKR 2 million on maintaining a monthly balance of PKR 10,000.
- No minimum balance requirement, fully Shariah-compliant under Qard.
Features & Benefits
Account Opening
Instantly via RAPID portal with valid CNIC/NICOP & income declaration.
Currency Options
PKR Current Account + Exporters’ Special Foreign Currency Account (USD).
Initial Deposit
No Initial Deposit & No Minimum Balance.
Foreign Currency Retention
Keep up to USD 5,000/month or 50% of export proceeds (whichever is higher) in ESFCA.
Flexible Usage
Retained USD can be converted to PKR anytime or used for personal/work-related digital payments (subscriptions, certifications, marketing, etc.).
Free Digital Services
SMS alerts, e-statements, cheque book (PKR only).
Takaful Protection
Free accidental death & disability coverage up to PKR 2 million (with avg. balance of PKR 10,000).
Preferred Banking Privileges
On maintaining PKR 1M+ or equivalent FCY deposits.
Shariah-compliant
Based on the principle of Qard.
How To Open
Required Documents
For Deposit Account:
- Valid CNIC / NICOP / SNIC.
- Declaration of source of income (related to provision of digital/online services, IT, or IT-enabled services).
Important Documents
Compare Account
| Features | Islamic Freelancer Digital Current Account |
|
|---|---|---|
|
Currency
|
PKR
|
PKR |
|
Initial Deposit to Open
|
-
|
- |
|
Minimum Balance to Keep
|
-
|
- |
|
Account Maintenance Fee
|
-
|
- |
|
Indicative Profit
|
-
|
- |
|
Profit Payment Frequency
|
-
|
- |
|
Debit Card
|
Yes -
Charged
|
Yes - Charged |
|
Cheque Book
|
First Cheque book free, subsequent
cheque books PKR 22.5/- Per leaf or equivalent for FCY
accounts
|
First Cheque book free, subsequent cheque books PKR 22.5/- Per leaf or equivalent for FCY accounts |
|
SMS Alerts
|
PKR 250/- Per
Month
|
PKR 250/- Per Month |
|
E-Statement
|
Yes
|
Yes |
|
Bankers Cheque
|
PKR 450/-
|
PKR 450/- |
|
Clearing
|
Intercity - 350
Per Cheque, Same Day - PKR 600/- Per instrument
|
Intercity - 350 Per Cheque, Same Day - PKR 600/- Per instrument |
|
Account Limits
|
Monthly Limit: No Limit
Monthly Retention Limit: Can Retain USD 5,000/- Per month or 50% of the export proceeds, whichever is higher, in their ESFCAs |
Monthly Limit: No Limit Monthly Retention Limit: Can Retain USD 5,000/- Per month or 50% of the export proceeds, whichever is higher, in their ESFCAs |
|
IBFT
|
Free up to minimum aggregate
sending limit of PKR 25,000/- per month per account, After
exhaustion of monthly limit or for amount exceeding
aggregate of monthly PKR 25,000/-; 0.1 % of the transaction
amount or PKR 200/- (whichever is lower) will be
charged.
|
Free up to minimum aggregate sending limit of PKR 25,000/- per month per account, After exhaustion of monthly limit or for amount exceeding aggregate of monthly PKR 25,000/-; 0.1 % of the transaction amount or PKR 200/- (whichever is lower) will be charged. |