alfalah

About Bank Alfalah

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alfalah
Alfalah Islamic Freelancer Digital Current AccountAlfalah Islamic Freelancer Digital Current Account

Alfalah Islamic Freelancer Digital Current Account

Alfalah Islamic Freelancer Digital Account offers easy and convenient banking solution for customers who wish to open an account instantly with minimal documentation. The account is offered in PKR and FCY as both, current and savings variant. Any resident Pakistani National can open this account through bank’s RAPID portal, upon providing their valid ID proof and declaration of source of income.

Eligibility Criteria All individuals, resident in Pakistan, engaged in provision of any digital/online services, including IT and IT related services against which payments are received from outside Pakistan
Initial Deposit
  • For PKR Account – NIL
  • For USD Account – NIL
Benefits
  • Primary FDA account will be open in PKR, however concurrently Exporters’ Special Foreign Currency Accounts (ESFCA) will also open in USD to retain some amount of their export proceeds in USD
  • Freelancers shall be allowed to retain upto USD 5,000/- per month or 50% of the export proceeds, whichever is higher, in their ESFCA
  • The funds available in the ESFCAs can be converted into PKR at any time upon the request of the customer
  • The balances held in ESFCAs may be utilized for making all personal and own work related payments of current account nature (for example, digital services, digital marketing, membership/ subscription fees, acquiring certification, study etc.) without any approval from SBP
  • No Minimum Balance Requirement
  • Issuance of Bank Alfalah Debit Card against PKR and FCY account*
  • Issuance of Cheque Book (only for PKR Accounts)*
  • Free SMS Alerts on all ADC Transactions
  • Free E-statements
Additional Benefits On maintaining, an average monthly balance of PKR 10,000/- in your checking account, get free accidental death and permanent disability takaful coverage of up to PKR 2 Million.

On maintaining a minimum monthly average balance of PKR 1m or equivalent FCY deposit in current/savings/term deposit accounts, avail numerous free services as per our preferred banking services.
Underlying Principle This product is based on the concept of Qard

 

*All the free services are subject to the terms and conditions as per prevailing Schedule of Charges

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