Overview
The Bank Alfalah Islamic Recurring Value Deposit is a long-term, low-risk, high-return savings option designed to help you set aside affordable installments starting from PKR 2,000. With profit calculated daily and added to your principal, your savings grow faster, and you receive the full profit along with your deposit at maturity.
What you get
- Flexible installment plans: monthly, quarterly, semi-annual, or annual.
- Tenures from 3 years up to 10 years.
- Profit calculated daily and compounded with principal.
- Profit paid in full at maturity.
- Zero premature encashment fee.
- Free takaful coverage up to PKR 2 million.
- Reinvestment options at maturity.
- Shariah-compliant savings based on Mudarabah.
Features & Benefits
Flexible Installments
- Monthly: PKR 2,000
- Quarterly: PKR 6,000
- Semi-Annually: PKR 12,000
- Annually: PKR 24,000
- Installments in multiples of PKR 2,000 only.
Missed Installments
- If installment is not paid by the 10th working day of the due month, the deposit is liquidated.
- Accumulated balance and profit (as per declared rates) returned.
Takaful Coverage
Free accidental death and permanent disability takaful up to PKR 2 million (on maintaining PKR 10,000 monthly balance in checking account).
Profit Calculation
- Daily profit calculation.
- Accumulated monthly into the principal for multiplied returns.
Premature Encashment
- No encashment fee.
- Profit paid as per declared rates for completed period.
Tenure Options
- Minimum of 3 years
- Maximum of 10 years
Profit Payout
Profit disbursed at maturity.
Preferred Banking Privileges
Premium services on maintaining PKR 1 million or equivalent FCY deposit across accounts.
Eligibility
- Available for all individual Bank Alfalah Islamic Current and Saving Accountholders.
Required Documents
- Valid CNIC/NICOP/SNIC.
- Proof of income/funds (if required).
- Recent passport-size photograph.
- Existing Bank Alfalah Islamic account details.
Apply Now
Get started with your term deposit application in just a few simple steps. Click below to begin
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