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.
FAQ’s – Alfa Saving Islamic Account
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:
- Step 1: Select Alfa Islamic
- Step 2: Enter your CNIC, CNIC issuance date and Mobile Number
- Step 3: Create your 4-digit login pin.
- Step 4: Enter your Mother’s Maiden name, Father’s Name, Place of Birth, City of Stay
- Step 5: Take a picture of the front and back of your CNIC
Your Account is now ready!
For Existing to Bank Customers:
- Step 1: Select Alfa Islamic
- Step 2: Enter your CNIC, CNIC issuance date and Mobile Number
- Step 3: Enter OTP sent to your Email address and Mobile number
- Step 4: Enter your Mother’s Maiden name, Father’s Name, Place of Birth, City of Stay
- 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.
Yes, you can still open an Alfa Saving Islamic Account.
Yes, profit is calculated on the daily balance in the account and paid monthly.
