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Alfa Transaction Takaful

Bank with confidence. Stay protected.

At Bank Alfalah Islamic, your security comes first. That’s why we offer Alfa Transaction Takaful by EFU — a plan designed to protect you against fraudulent or unauthorized transactions. It also includes a built-in life takaful benefit, ensuring your family’s financial security in case of an unfortunate event.

 

What is Alfa Transaction Takaful?

Alfa Transaction Takaful provides coverage against fraudulent transactions from your account or card. If money is lost due to unauthorized activity, you are protected.

Additionally, it includes term takaful cover, which pays a defined benefit to your family in case of your death due to any cause, providing complete financial security.

 

How to Apply

Getting covered is simple:

  1. Login to Alfa

  2. Tap on Takaful

  3. Select Alfa Transaction Takaful

  4. Choose your contribution & agree to the Basic Fact Sheet

  5. Confirm via recorded/IVR call (press 1)

  6. View your policy in the Policy Briefcase

 

Product Summary

  • Plan: Alfa Transaction Takaful by EFU

  • Coverage: Fraudulent transactions + term life takaful

  • Contribution Term: Annual

  • Coverage Term: One year

  • Policy Currency: PKR

  • Issuance: Guaranteed

  • Eligibility Age:

    • Enrollment: 18–64 years*

    • Coverage: 18–65 years*
      *Applicable on term takaful

  • Free Look Period: 15 days

 

Benefits & Contribution

Option

Fraudulent Transactions Benefit (PKR)

Term Life Benefit (PKR)

Annual Contribution (PKR)

Option 1

Up to 50,000

50,000

530

Option 2

Up to 100,000

100,000

850

Option 3

Up to 150,000

150,000

1,250

Contributions are inclusive of all applicable taxes, bank commission, and duties. Any changes in tax structure or commission will affect contributions.

 

Exclusions

Coverage does not apply to:

  • Errors in transaction recording systems

  • Debits beyond allocated card limits or account balances

  • Cyber fraud, cybercrime, or related liabilities

  • Losses known before policy issuance

  • Spoofing (sharing bank details knowingly or unknowingly)

  • Unexplained/mysterious transactions

  • Losses not reported during the policy period

  • Fraud committed by the participant

  • Losses caused by sharing personal details (OTP, account, or card information)

  • Losses under threat or duress

  • War, terrorism, nuclear risks, sanctions, money laundering, and infectious disease-related risks

 

Why Choose Alfa Transaction Takaful?

  • Fraud protection – Security against unauthorized transactions.

  • Life cover – Financial protection for your family.

  • Easy signup – Apply directly through the Alfa app.

  • Affordable – Flexible contribution options starting at just PKR 530.

 

Important Information

  • Underwriter: EFU-WTO

  • Distributor: Bank Alfalah Limited

 

Need Help?

  • Check the Basic Fact Sheet (English/Urdu)

  • Browse our FAQs

  • Contact us at contactus@bankalfalah.com

  • Call our 24/7 helpline: +92 21 111 225 111

  • Or visit your nearest branch

 

Disclaimer

Alfa Transaction Takaful by EFU is subject to terms, conditions, and exclusions. Bank Alfalah is the distributor and EFU-WTO is the underwriter of the product. Please read the Policy Documents and Basic Fact Sheet carefully before applying.