alfalah

FAQ’s – Alfa Savings

Alfa Savings Account is a digital savings account whereby customers can place their deposits and earn a daily profit, which is disbursed on a monthly basis. It provides easy access to your funds to save & transact them any way you like.

Profit is calculated on daily basis

Profit is disbursed first of every month

No, you can open your Alfa Savings Account on your smartphone from the comfort of your home via an easy 4 step account opening process

Enjoy the convenience of opening your savings account directly from your phone via an easy 4 step account opening process:

For New to Bank Customers:

  • Step 1: Enter your CNIC, CNIC issuance date and Mobile Number
  • Step 2: Create your 4-digit login pin.
  • Step 3: Enter your Mother’s Maiden name, Father’s Name, Place of Birth, City of Stay
  • Step 4: Take a picture of the front and back of your CNIC

Your Account is now ready!

 

For Existing to Bank Customers:

  • Step 1: Enter your CNIC, CNIC issuance date and Mobile Number
  • Step 2: Enter OTP sent to your Email address and Mobile number
  • Step 3: Enter your Mother’s Maiden name, Father’s Name, Place of Birth, City of Stay
  • Step 4: 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 Savings Account

You can deposit funds via IBFT (Interbank Funds Transfer), Cash Deposit Machines (CDM), Bank Alfalah branches, Funds Transfer, Jazz Cash Agents and EasyPaisa Agents

You can use your funds by performing IBFT (Interbank Funds Transsfer), Utility Bill Payment, Mobile Top up transactions, order food, buy Netflix and Playstore vouchers 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

In order to enjoy higher limits, you can upgrade by visiting any Bank Alfalah Branch for Biometric verification.

The yearly profit rate is up to 6.40% (per annum)

For further understanding, you can use the below table for reference

Balance Band Rate
Rs 0-9,999 14.50%
Rs 10,000-49,999 14.55%
Rs 50,000-99,999 14.65%
Rs 100,000-249,999 14.75%
Rs 250,000+ 14.80%

Yes, you can still open Alfa Savings account with an easy 4 step account opening process.

Yes. You’ll receive profit for those 15 days at the end of the month