Falah Term Deposits
Falah term deposit offers an attractive rate of return on your savings. This Shari’ah complaint account not only helps you grow your savings quickly, but also provides the flexibility of accessing your funds when you need them.
| Eligibility Criteria | All Bank Alfalah Islamic Current and Saving Accountholders. |
| Minimum Deposit | PKR 100,000/- |
| Tenures Available | 1 month, 3 months, 6 months, 1 year, 2 years, 3 years and 5 years term |
| Product Features |
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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 |
Note:
- Profit calculation & distribution will as per prevailing pool management guidelines
- In case of premature encashment, profit shall be calculated and paid on the basis of actual declared monthly profit rates of TDR for the corresponding completed period as per related tier for the relevant period of stay of deposit with the Bank.
- 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
