Overview
The Bank Alfalah Islamic Business Way & Payroll Account offers flexibility for both businesses and employees. It can be opened as a deposit account (for companies and individuals) or as a payroll account (for employers to pay salaries). With no minimum balance, free banking services, and value-added takaful protection, it’s a Shariah-compliant account that provides complete control and convenience.
What you get
- Option to open as deposit or payroll account
- No balance requirement (for both types)
- Free cheque book & banker’s cheque issuance
- Free debit card (Classic, Gold, or PayPak) with no annual charges
- Free ATM cash withdrawals (for payroll accounts)
- Free e-statements & SMS alerts
- Nationwide free online transactions
- Takaful coverage up to PKR 2,000,000 with PKR 10,000 average balance
- Preferred Banking benefits on PKR 1,000,000 average balance
- Shariah-compliant under Mudarabah
Features & Benefits
Account Options
Flexible choice between Deposit or Payroll account with no balance limits.
Free Banking Services
Enjoy complimentary cheque books, banker’s cheques, cancellations, and e-statements.
Digital & Card Benefits
Access a free debit card, online transactions, SMS alerts, and ATM withdrawals (payroll).
Protection & Privileges
Benefit from Takaful coverage up to PKR 2,000,000 and preferred banking services.
Shariah Structure
Account operates under Mudarabah with profit shared as per pool management.
How To Open
Visit a branch:Use the Branch & ATM Locator on Bank Alfalah’s website
Support:+92 21 111 225 111 | contactus@bankalfalah.com
Important Documents
For Deposit Account:
- Valid CNIC / NICOP / SNIC
- Filled Account Opening Form & Specimen Signature
- Source of income declaration
- Proof of address (if required)
For Payroll Account:
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. |