Overview
Bank Alfalah Islamic Target Savings Deposit helps you achieve your savings goals with flexible installment options starting from just PKR 2,000. You can choose the frequency, tenure, and savings plan that fits your lifestyle, while enjoying monthly halal profit credited directly to your checking account.
What you get
- Flexible installment plans: monthly, quarterly, semi-annual, or annual.
- Savings tenure ranging from 1 year to 10 years.
- Monthly profit disbursement with daily profit calculation.
- Zero premature encashment fee.
- Free takaful coverage up to PKR 2 million.
- Reinvestment options upon maturity.
- Shariah-compliant investment under 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.
Missed Installments
- Failure to pay by the 10th working day leads to automatic liquidation.
- Accumulated balance and profit (as per latest declared rates) returned.
Profit Payout
Monthly profit disbursement.
Profit Calculation
Profit calculated daily for maximum returns.
Premature Encashment
- No encashment fee.
- Profit paid as per declared rates for the completed period.
Tenure Options
From 1 year up to 10 years.
Takaful Coverage
- Free accidental death and permanent disability takaful up to PKR 2 million.
- Applies on maintaining PKR 10,000 monthly balance in checking account.
Preferred Banking Privileges
- Premium services.
- Maintain PKR 1 million or equivalent FCY deposit across accounts.
Eligibility
- Available for all individual and joint 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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