Overview
Bank Alfalah Islamic Teenager Account is designed to empower teenagers aged 13–18 with early financial independence in a secure and Shariah-compliant environment. Based on Mudarabah for savings accounts and Qardh for current accounts, it enables young users to develop healthy saving habits, manage their finances digitally, and build financial responsibility. At the same time, parents retain oversight and control, ensuring a safe and guided banking experience.
What you get
- Halal profit on savings under Mudarabah principles (monthly profit on average balance).
- Dedicated current account option for everyday transactions (non-profit bearing).
- Physical UPI PayPak Co-badged Classic debit card for secure payments and online usage.
- Digital banking access for easy money management anytime, anywhere.
- No minimum balance or initial deposit requirement
- Parental supervision and control for safe and guided financial usage.
- Access to nationwide branch and ATM network for seamless banking.
Features & Benefits
Halal Profit (Savings Account)
Earn Shariah-compliant profit under Mudarabah principles, calculated on the monthly average balance and credited every month.
Dual Account Option
Choose between a Savings Account (profit-bearing) and a Current Account (non-profit bearing, based on Qardh) to suit your financial needs.
No Minimum Balance Requirement
Maintain your account with complete flexibility and no minimum balance requirement.
No Initial Deposit
Open your account without any initial deposit required
Debit Card Access
Receive a physical for secure ATM withdrawals, POS purchases, and online transactions.
Digital Banking Convenience
Manage your finances seamlessly through digital banking channels and access funds via a nationwide ATM network.
Parental Supervision
Benefit from guardian oversight to encourage safe, responsible, and guided financial management.
Nationwide Accessibility
Enjoy convenient banking through Bank Alfalah’s extensive network of branches and ATMs across Pakistan.
How To Open
Required Documents
For Teenager (Age 13–18)
- Valid identification (B-Form / Smart Card or equivalent verification via NADRA).
- Recent photograph.
- Completed account opening form.
For Parent / Guardian
- Valid CNIC for consent and verification.
- Declaration of source of funds.
Important Documents
Compare Account
| Features | Islamic Teenager Savings Account |
|
|---|---|---|
|
Currency
|
PKR
|
— |
|
Initial Deposit to Open
|
Nil
|
— |
|
Minimum Balance to Keep
|
None
|
— |
|
Account Maintenance Fee
|
Nil
|
— |
|
Profit Payment Frequency
|
Monthly (Savings Account
only)
|
— |
|
Debit Card
|
Yes –
Physical Debit Card available
|
— |
|
Cheque Book
|
No cheque book
|
Not Available |
|
SMS Alerts
|
As per Schedule of Charges
(SOC)
|
— |
|
E-Statement
|
Yes
|
— |
|
Bankers Cheque
|
No banker's cheque
|
— |
|
Clearing
|
As per Schedule of Charges (SOC)
|
— |
|
Account Limits
|
No maximum balance limit
|
— |
|
Transaction Limits
|
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.
|
— |
|
IBFT
|
As per Schedule of Charges
(SOC)
|
— |
| Open An Account | — |