Alfalah Islamic Business Way and Payroll (Remunerative Current Account)
Looking for a business account that lets you decide how it operates. Open the Alfalah Islamic Business Way account. You can opt for either a deposit account or a payroll account. As a payroll account, there is no need of initial deposit and balance requirement and your employees will benefit from the free services.
| Eligibility Criteria |
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| Initial Deposit | For a deposit account – PKR 1,000/- For a payroll account – NIL |
| Product Features |
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| Benefits |
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| Additional Benefits | On maintaining, an average monthly balance of PKR 10,000/- in your checking account, get free accidental death and permanent disability takaful coverage of up to PKR 2 Million.
On maintaining a minimum monthly average balance of PKR 1m or equivalent FCY deposit in current/savings/term deposit accounts, avail numerous free services as per our preferred banking services. |
| Underlying Principle | This product is based on the concept of Mudarabah |
| Premier Eligibility | Moreover, Islamic Payroll customers having minimum monthly gross salary of PKR 500,000 or equivalent to FCY and also maintaining a quarterly average balance of PKR 1 Million & above or an equivalent to FCY amount in CASA will be eligible for additional waivers and privileges as separately mentioned below. |
| Premier Benefits | Islamic Payroll customers having minimum monthly salary of PKR 500,000 or equivalent and also maintaining a quarterly average balance of PKR 1 Million & above or an equivalent amount in CASA will be eligible for the following fee waivers:
*Upon availability of Locker In case the customer does not maintain the required quarterly average balance or if their monthly salary falls below the mentioned threshold, the subject tagging (i.e., as Islamic Premier Banking Customer), on this account will be removed, and fee waivers, as per hereinabove mentioned table, will be applicable according to the prevailing Schedule of Charges. |
Note:
- Profit calculation & distribution will as per prevailing pool management guidelines
- All the free services are subject to the terms and conditions as per prevailing Schedule of Charges.
- Withholding Tax and Zakat is applicable as per existing policy of Government
