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Islamic Account

Overview

The Bank Alfalah Islamic Khayaal Rakhna Account is designed for individuals seeking Riba-free returns based on Islamic principles. With flexible balance requirements, unlimited transactions, and profit disbursed monthly or semi-annually, this account ensures both growth and convenience for your savings.

What you get

  • Riba-free profit on your deposits.
  • No minimum or maximum balance requirement.
  • Monthly and semi-annual profit payout options.
  • Free digital and branch banking services.
  • Complimentary takaful coverage (on maintaining average balance).

Features & Benefits

Eligibility

All Pakistani nationals with CNIC/NICOP/SNIC.

Initial Deposit

Start your account with just PKR 100.

Profit Advantage

• Profit-bearing single-tier account.
• Profit calculated on average monthly balance.
• Flexible profit disbursement (monthly or semi-annual).

Preferred Banking Benefits

Maintain a minimum monthly average balance of PKR 1 million (or equivalent FCY deposit in current/savings/term deposit accounts) to avail numerous free services as part of Preferred Banking.

Balance Flexibility

No minimum or maximum balance limit.

Transaction Freedom

Unlimited deposits and withdrawals without restrictions.

Complimentary Takaful

Maintain an average monthly balance of PKR 10,000 in your checking account to receive free accidental death and permanent disability takaful coverage of up to PKR 2 million.

Underlying Principle

This product is based on the concept of Mudarabah.

Free Banking Essentials

• VISA Debit/ATM card accepted at over 30 million outlets and 2 million ATMs worldwide.
• Free first cheque book.
• Free online banking nationwide.
• Free e-statements.
• SMS alerts on every transaction.
• Complimentary semi-annual account statement.

How To Open

01
Initiate Application
Provide your details and select desired banking options available.
02
Provide Documents
Upload copies of your identity and other required documents.
03
Review Process
Allow the bank to verify and process your application.
Account Activation
Receive confirmation of account activation and start banking!
Open An Account

Required Documents

  • Valid CNIC/SNIC/NICOP of the applicant.
  • For minors: Form-B or Juvenile Card along with parent/guardian CNIC.
  • Proof of income or declaration (as per regulatory requirement).
  • Recent passport-size photograph.
  • Any additional documents required under prevailing laws and regulations.

Important Documents

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Features Bank Alfalah Islamic Khayaal Rakhna Account
Currency
PKR
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Initial Deposit to Open
PKR 100/-
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Minimum Balance to Keep
-
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Account Maintenance Fee
-
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Profit Payment Frequency
Six Monthly & Monthly
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Debit Card
Yes - Charged
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Cheque Book
First Cheque book free, subsequent cheque books PKR 22.5/- Per leaf or equivalent for FCY accounts
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SMS Alerts
PKR 250/- Per Month
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E-Statement
Have this feature
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Bankers Cheque
PKR 450/-
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Clearing
Intercity - 350 Per Cheque, Same Day - PKR 600/- Per instrument
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Account Limits
No Limits
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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.
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Open An Account