Falah Islamic Senior Citizens Term Deposit
With Falah Islamic Senior Citizen Term Deposit you can now have a high return yielding savings avenue with increased profit on higher deposit levels. The product provides senior citizens with financial safety and independence so that they can spend their retirement in peace.
| Eligibility Criteria | All Bank Alfalah Islamic Current and Saving Accountholders. |
| Minimum Deposit | PKR 100,000/- |
| Maximum Deposit | Greater than PKR 100,000 in the multiples of PKR 50,000 |
| Tenures Available |
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| Product Features |
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| 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 Mudarabah |
Note:
- Profit calculation & distribution will as per prevailing pool management guidelines
- In case of premature encashment, profit shall be calculated and paid on the basis of actual declared monthly profit rates of TDR for the corresponding completed period as per related tier for the relevant period of stay of deposit with the Bank.
- All the free services are subject to the terms and conditions as per prevailing Schedule of Charges
- Withholding Tax and Zakat is applicable as per existing policy of Government
