Overview
A simple, low-friction current account for residents who want basic, reliable banking. Open with just PKR 100 and enjoy everyday banking features without minimum balance requirements.
What you get
- PKR 100 initial deposit to open the account.
- No minimum / maximum balance requirement.
- VISA Debit/ATM Card (global acceptance).
- Free first chequebook.
- Free online & mobile banking + e-statements.
- SMS alerts on every transaction.
- Complimentary account statement (semi-annual).
- Monthly cash deposit/withdrawal limit up to PKR 1,000,000.
- Underlying principle: Qard.
Features & Benefits
No Minimum Balance
Banking with zero balance constraints — ideal for everyday use.
Debit Card & Chequebook
Get a VISA Debit/ATM card and a free first chequebook for withdrawals and payments.
Digital Banking
Full access to Alfa app / Internet Banking and e-statements for easy account management.
Transaction Limits
Monthly cash deposit/withdrawal limit up to PKR 1,000,000 (suitable for regular personal banking needs).
Alerts & Statements
Real-time SMS alerts on transactions and complimentary semi-annual account statements.
Safety Net (Takaful)
Maintain an average monthly balance of PKR 10,000 to qualify for accidental death & permanent disability takaful cover up to PKR 2 million.
Preferred Services
Maintain PKR 1,000,000 monthly average (or equivalent FCY) to access preferred banking benefits and free services.
How To Open
Required Documents
For Deposit Account:
- Valid CNIC / NICOP / SNIC (original + copy).
- Recent passport-size photo (if requested).
- Initial deposit: PKR 100 (cash or transfer) — for branch opening.
- Completed account opening form (digital submission via RAPID or at branch).
- Proof of address (utility bill) — may be requested depending on onboarding channel.
For Payroll Account:
- Valid CNICs of employees.
- Company documents (Incorporation/Registration, NTN, etc.).
- Payroll account request letter from employer.
Important Documents
Compare Account
| Features | Islamic Business Way And Payroll Account |
|
|---|---|---|
|
Currency
|
PKR
|
PKR |
|
Initial Deposit to Open
|
-
|
- |
|
Minimum Balance to Keep
|
-
|
- |
|
Account Maintenance Fee
|
-
|
- |
|
Indicative Profit
|
0.0004
|
0.0004 |
|
Profit Payment Frequency
|
Monthly
|
Monthly |
|
Debit Card
|
Yes -
Free
|
Yes - Free |
|
Cheque Book
|
Free
|
Free |
|
SMS Alerts
|
Free
|
Free |
|
E-Statement
|
Free
|
Free |
|
Bankers Cheque
|
Free
|
Free |
|
Clearing
|
Intercity - 350
Per Cheque, Same Day - PKR 600/- Per instrument
|
Intercity - 350 Per Cheque, Same Day - PKR 600/- Per instrument |
|
Account Limits
|
No
Limits
|
No Limits |
|
IBFT
|
Free up to minimum aggregate
sending limit of PKR 25,000/- per month per account, After
exhaustion of monthly limit or for amount exceeding
aggregate of monthly PKR 25,000/-; 0.1 % of the transaction
amount or PKR 200/- (whichever is lower) will be
charged.
|
Free up to minimum aggregate sending limit of PKR 25,000/- per month per account, After exhaustion of monthly limit or for amount exceeding aggregate of monthly PKR 25,000/-; 0.1 % of the transaction amount or PKR 200/- (whichever is lower) will be charged. |