Bank Alfalah

Overview

A fully digital term deposit designed for individuals seeking a quick, hassle-free way to secure their savings and earn competitive returns—without visiting a branch.

What you get

Book instantly via Alfa app within seconds.
Minimum booking amount is PKR 500 for LCY and 100 Units for FCY. Maximum booking amount is PKR 500,000,000 for LCY and 2,000,000 Units for FCY.
Flexible tenures: 7 days, 1 month, 3 months, 6 months, or 1 year.
Monthly or maturity profit payouts as per prevailing rate sheet.
Customizable and changeable maturity instructions.
Real-time early encashment option with applicable revised rates.

Enjoy complete convenience with instant digital booking, flexible profit payouts, and the safety of managing your term deposit anytime, anywhere. Terms and conditions apply.

Features & Offerings

Alfa App & Web

Book a Term Deposit anytime, anywhere through Alfa App within seconds.

In-App Notifications

Instant in-app notifications and a downloadable Digital Term Deposit Receipt with share options (WhatsApp, Email, Bluetooth).

Minimum Initial Requirement

Open digitally with amounts from PKR 500 to PKR 500 million for LCY and 100 Units to 2 Million for FCY, choose from multiple tenure options (7 days to 1 year for LCY & 1 month to 1 year for FCY), and set or change maturity instructions anytime.

Flexible Profit Payment Options

Select monthly or maturity-based profit payouts, with real-time early encashment and instant credit of principal plus due profit (penalty applies).

Access to Documents

Online access to prevailing rate sheets, submit zakat exemption forms (CZ-50), and get your Withholding Tax Certificate.

Salient Features

Minimum Booking Amount: Start with as low as PKR 500 for LCY and 100 units for FCY; maximum booking limit PKR 500 million for LCY and 2 Million units for FCY.
Flexible Tenure Options: Choose from 7 days, 1 month, 3 months, 6 months, or 12 months.
Profit Payment Frequency: Opt for monthly payouts or receive profit at maturity.
Instant Digital Booking: Book within seconds via Alfa app without visiting a branch.
Customizable Maturity Instructions: Select and change maturity instructions anytime (Encash, Rollover Principal, or Rollover Principal + Profit).
Early Encashment Facility: Withdraw funds anytime with real-time credit (penalty applies as per Schedule of Charges).
Multiple Bookings: Enjoy complete flexibility with multiple term deposit bookings.
Digital Receipts & Certificates: Get instant digital booking receipts, WHT certificates, and submit zakat exemption forms online.
Secure Transactions: Funds booked through your Bank Alfalah account with complete protection and safety.
Islamic & Conventional Variants: Available for both Islamic and conventional account holders.