Looking for a simple way to save while staying true to your faith? With the Alfa Islamic Saving Account, you can enjoy Riba-free profit on your daily balance, credited monthly, all while having the flexibility of digital access through the Alfa App.
Why Choose Alfa Islamic Saving Account?
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Halal Profit – Earn Riba-free profit, calculated daily and paid monthly.
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Instant Account Opening – Open your account digitally in just minutes.
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Swift & Secure – Safe and reliable transactions anytime, anywhere.
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Tier-Based Profit Structure – Earn more as your savings grow.
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No Minimum Balance – Save and transact freely without restrictions.
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Debit Card Access – Enjoy 24/7 access to your funds.
How to Open an Alfa Islamic Saving Account?
Go to “Open New Account” > Select “Open Wallet Account” > Choose “Islamic Wallet” > Choose “Saving Account.”
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Enter Required Details
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CNIC
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Mobile Number
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CNIC Issuance Date
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Place of Birth
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City of Stay
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Father’s Name
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Mother’s Maiden Name
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Deposit Funds
Add money into your Alfa Islamic Saving Account via:-
Online Funds Transfer (IBFT)
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Bank Alfalah Branch
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Cash Deposit Machine (CDM)
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Alfa Agent Shop
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Terms & Conditions Apply
Product Features
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Instant digital account opening
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Riba-free profit on daily end-of-day balance
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Monthly profit payouts
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Tier-based profit rates for higher savings
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Multiple transactions such as utility bills, top-ups, and transfers
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No minimum balance requirement
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Debit card for 24/7 fund access
Save & Transact
Your savings don’t have to sit idle. With Alfa Islamic Saving Account, you can use your balance for everyday transactions:
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Utility Bill Payments
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Mobile Top-ups
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Online Shopping
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Funds Transfers
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Donations
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QR Payments
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School Fee Payments
Daily, Monthly & Yearly Transaction Limits
Transact within the following daily, monthly and yearly limits.
Visit any Bank Alfalah Branch for Biometric verification to enjoy higher transaction limits.
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Mobile Account level |
Transaction limits (Debit & Credit each) |
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|---|---|---|---|---|
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Daily |
Monthly |
Yearly |
Max Balance |
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Level 0 |
PKR 25,000 |
PKR 50,000 |
PKR 200,000 |
PKR 200,000 |
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Level 1 |
PKR 50,000 |
PKR 200,000 |
PKR 2,400,000 |
PKR 2,400,000 |
Profit Rates & Charges
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Profit is calculated daily and credited monthly.
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Tier-based profit structure ensures you earn more as you save more.
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Charges apply as per prevailing Schedule of Charges (SOC).
👉 View Profit Rates | Schedule of Charges | Key Fact Statement
Start Saving the Halal Way
Open your Alfa Islamic Saving Account today and enjoy Riba-free profits along with the convenience of digital banking.
Download the Alfa App now and start your savings journey.
Need Help?
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Visit our FAQs
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Email: contactus@bankalfalah.com
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Call 24/7 helpline: +92 21 111 225 111
Or visit your nearest Bank Alfalah branch
Yes, you can still open an Alfa Saving Islamic Account.
Yes, profit is calculated on the daily balance in the account and paid monthly.
Alfa Saving Islamic Account is a Shariah Compliant digital saving account whereby customers can place their deposits and earn a daily Riba-Free profit, which is disbursed on a monthly basis. It is a completely digital account and provides easy access to your funds to save & transact them any way you like.
Profit is calculated based on day end balance by month end.
Profit is disbursed monthly within 7 working days from the start of the month.
No. You can open your Alfa Saving Islamic Account on your smartphone from the comfort of your home via an easy 4-step account opening process.
Enjoy the convenience of opening your Alfa saving Islamic account directly from your phone via an easy 4-step account opening process:
For New to Bank Customers:
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Step 1: Select Alfa Islamic
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Step 2: Enter your CNIC, CNIC issuance date and Mobile Number
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Step 3: Create your 4-digit login pin.
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Step 4: Enter your Mother’s Maiden name, Father’s Name, Place of Birth, City of Stay
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Step 5: Take a picture of the front and back of your CNIC
Your Account is now ready!
For Existing to Bank Customers:
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Step 1: Select Alfa Islamic
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Step 2: Enter your CNIC, CNIC issuance date and Mobile Number
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Step 3: Enter OTP sent to your Email address and Mobile number
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Step 4: Enter your Mother’s Maiden name, Father’s Name, Place of Birth, City of Stay
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Step 5: Take a picture of the front and back of your CNIC
Your Account is now ready!
There is no minimum balance requirement for opening an Alfa Saving Islamic Account.
You can deposit funds via IBFT (Interbank Funds Transfer), Cash Deposit Machines Bank Alfalah branches, Funds Transfer.
You can use your funds by performing IBFT (Interbank Funds Transfer), Utility Bill Payment, Mobile Top up transactions, order food, Donation payments, School Fee payments and much more.
The following are the limits assigned for deposit and withdrawal transactions:
|
Mobile Account level |
Transaction limits (Debit & Credit each) |
|||
|---|---|---|---|---|
|
Daily |
Monthly |
Yearly |
Max Balance |
|
|
Level 0 |
PKR 25,000 |
PKR 50,000 |
PKR 200,000 |
PKR 200,000 |
|
Level 1 |
PKR 50,000 |
PKR 200,000 |
PKR 2,400,000 |
PKR 2,400,000 |
In order to enjoy higher limits, you can upgrade by visiting any Bank Alfalah Branch for Biometric verification.