Features & Benefits:

• Maximum Limit:
  • PKR 10 million (As per SBP SME PRs and amended from time to time).
  • PKR 5 million (As per SBP Agri PRs and amended from time to time).
• Short / Medium Term Finance: Upto 03 Years
• Long Term Finance: Upto 05 Years
• Pricing for Short Term/ Medium Term: 3 Months Kibor + 5% p.a.
• Pricing for Long Term: 3 Months Kibor + 6% p.a.
• Loans are to be secured primarily against Personal Guarantee (PG) of the borrowers.
• In case of Partnership or Private Limited Company, PG’s of all partners/directors will be required as the case may be.
• Hypothecation of asset being financed with margin requirements in case of stocks. However, cost of asset in case of P&M.
• Personal Guarantee (PG) of the property holder.

Eligibility:

• Deposit holders of other Banks maintaining account statements for at least One Year with other bank and at least 06 months in parallel with BAFL as well.
• Existing deposit holders of Bank Alfalah maintaining Current/Saving Accounts for at least last 12 months.
• Age of the prospective customer (Proprietor/Main Sponsor) should range between 21-60 years at the time of grant of loan. In case of Long Term Finance (LTF) maximum age should be 60 years at the time of grant of loan.
• Relevant qualification/experience of the sponsors should be considered. Other business experience may be given weightage in case of new line of business started by the sponsors.
• Applicant / Main Sponsor should be Resident Pakistani National having Valid CNIC (reflecting age within benchmarks). NICOP holders residing in Pakistan are also eligible.
• Business vintage at least 2 years’.
• Major and legally capable to execute contract.

Rates & Charges:

• Processing fee per application Up to Rs. 10.0 M 0.25% of approved limit or min Rs. 10,000/- whichever is higher.
• Renewal 0.15% of approved limit or min Rs. 7,500/- whichever is higher.
• Late payment charges:
  • STF/Medium/Long Term Finance: Penal markup @ Rs. 0.82/- per 1,000/- daily products on the bill amount shall be charged as per the arrangement approved by the Credit & Business authorities excluding NPL/Classified account from the date of classification.

FAQ’s