Fee Waivers and BenefitsFee Waivers and Benefits

Fee Waivers and Benefits

Eligibility:

In order to qualify as an Islamic Premier Banking Customer, you need to maintain a minimum quarterly average balance/minimum three months’ average balance as per the below mentioned criteria:

Type Minimum Threshold (Quarterly Average Balance)
CASA (Current Account / Saving Account) PKR 3 Million (or Equivalent FCY)
Combination 1: Current and Saving Account (CASA) & Banca Takaful PKR 2 Million Current and Saving Account (CASA) & PKR 1 million Banca Takaful, or
Combination 2: Assets Under Management (AUM) PKR 10 Million AUM* including at least PKR 2 million in Current and Saving Account (CASA)

Free Services:

Islamic Premier customers will be able to avail following list of waivers

S.No. Free Waivers
1 Issuance of Banker’s Cheque
2 Cancellation of Banker’s Cheque
3 Certificate Issuance (Account Maintenance + Balance Confirmation + WHT + Profit Payment, Proceed Realization, Zakat Certificate etc.)
4 Statement of Account
5 Duplicate Statement Request
6 Intercity Clearing
7 Intercity Online Transactions
8 Stop Payment of Cheques
9 Account Closure Charges
10 Online Banking (Internet Banking and Alfa Mobile App)
11 SMS Alerts
12 Issuance of Cheque Book
13 Interbank Online Transactions
14 E-statements
15 Locker Annual Fee**
16 Interbank Funds Transfer/ Internal Funds Transfer
17 Cheque Return Charges
18 Same Day Clearing
19 Standing Instructions
20 Outward TT
21 FCY Demand Draft
22 Duplicate Banker’s Cheque
23 Collection of Cheques (LCY/FCY)
24 Inward Remittance

*Eligible Assets Under Management (AUM) – Bancatakaful, Mutual Funds, Current and Savings Account & Term Deposits
**Upon availability of Locker & having a link PKR account is a mandatory requirement to avail locker facility.

Islamic Premier Visa Signature Debit Card

  1. Fee waiver on annual, issuance and replacement fee for all Islamic Premier customers. Other charges shall apply as per Signature Card section of Islamic SOC.
  2. Complimentary access to 1,000 + global airport lounges via Lounge Key facility. Guests accompanying the cardholder will be charged at USD 32. Other Terms and Conditions will be applicable as per respective lounge rules.
  3. Priority Pass: a) Annual Fee: USD 10 b) Airport Lounge Visit Fee: USD 32 per visit
  4. Shapes Fee: PKR 1,800/- + FED/Sales Tax per visit (Charges will be levied post consumption of free visits.

Islamic Premier VISA In­nite Metal Debit Card

  1. Free of cost card including fee waiver on annual, issuance and replacement fee for those who meet the eligibility criteria
  2. Complimentary access to 1,000 + global airport lounges via LoungeKey facility. 1 complimentary guest is also allowed along with the cardholder. Other Terms and Conditions will be applicable as per respective lounge rules and LoungeKey rules.
  3. Priority Pass: a) Annual Fee: USD 10 b) Airport Lounge Visit Fee: USD 32 per visit
  4. Shapes Fee: PKR 1,800/- + FED/Sales Tax per visit (Charges will be levied post consumption of free visits)

Alfalah Islamic Auto Finance
100% waiver on Regular Processing Fee
0.5% rate break in profit rate

Alfalah Islamic Home Finance
100% waiver on Regular Processing Fee
1% rate break in profit rate

PayPak Debit Card (For NRP & Photo Account Customers)
Waiver of Issuance, Annual and Replacement fee

SME
50% Waiver on Regular Processing Fee

Note:

  1. These charges are subject to change on half yearly basis.
  2. Apart from this, all bank service charges and waivers will be applicable as per Bank Alfalah Islamic’s current SOC.
  3. All applicable preferred banking services waiver will also be provided to Islamic Premier customers.
  4. In addition to above, all applicable Government levies will also be recovered.
  5. Eligibility criteria, deposit slabs and list of charges/waivers are applicable in PKR or equivalent in foreign currency.
  6. Islamic Premier Customers not maintaining the required quarterly balance as per the eligibility criteria mentioned above will be downgraded.
  7. Upon downgrade, all Islamic Premier benefi­ts and privileges will be discontinued.
  8. Islamic Premier Services/Facilities are available across our network.

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