Bank Alfalah was created in 1997 by the Abu Dhabi group, it is a private bank with more than 600+ branches in Pakistan.
Its internet banking services provide its customers with a range of facilities and online services which are:
As we’re discussing on how to open an account in Bank Alfalah, we’ll talk about 3 types of bank accounts here easily:
To open a current account in Bank Alfalah, you need to accumulate some important and mandatory files/documentation for the successful run of the Procedure as well as having to fill a banking form.
Now to apply for a current account, there are 2 possible types of account owners/customers:
Salaried Person
The age limit for this application method is between 21 to 60 inclusive. If you are an employed person working for a firm or any other business facility, make sure to have your:
Self-employed /Business Person
The age limit for this application method is between 21 to 65 inclusive. If you are a business owner and want to open a current account, make sure to have your:
In addition to providing your documents and identification, Bank Alfalah also requires a minimum amount of 1000 PKR for the account opening as well as 5000 PKR minimum monthly balance required in your account.
To open a savings account in Bank Alfalah, the rules of application are quite similar to that of the current account.
To apply for a savings account, there are 2 types of individuals:
Salaried employee
Business owner
Both accounts have an annual fee of 1000 PKR and the only 2 differences between the application methods of a current and savings account are that a savings account only requires 100 PKR instead of 1000 PKR for its opening with no minimum balance amount required that could be levied and that it also has a 9.05% of interest rate.
Zakat and Government tax deductions are applicable to Savings accounts.
Bank Alfalah also provides its minor customers between the age of 6 to 17 with a special account to hone their saving habits.
So if you want to open your own savings account as a junior, visit the nearest Bank Alfalah branch with your parents to apply.
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