Bank Alfalah – How to Open An Account In Quetta

Quettawaly August 5, 2019 Business, Politics, World Leave a comment 746 Views

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The Bank Alfalah was created in 1997 by the Abu Dhabi group, Alfalah is a private bank with more than 600+ Branches in Pakistan.

Alfalah is internet banking services offered its customers with a range of facilities and online services which are below:

Viewing account information or accessing one year’s account statement
Paying your Credit Card bills or viewing your credit cards details.
You can book the cinema and airline tickets.
Request for SMS subscriptions.
Can easily transfer funds to any Bank Alfalah account or other Inter Bank Fund Transfer enabled accounts.
Top up or pay your own or anyone’s mobile bill instantly.
Can easily pay your utility bills.
Can clear your internet service charges.

How to open an account in Bank Alfalah, I will be sharing with You 3 types of bank accounts:

Current account.
Savings account.
Alfalah Rising star.

Current Account in Bank Alfalah

If you are going to open a current account in Bank Alfalah, You will need simply to accumulate some important and mandatory documents for the successful run of the procedure and having to fill a form of Bank.

You can apply for a current account, There are two kinds of account Customers/Owners:

Salaried Person

You will be able to apply for an account if you are 21 to 60 years old. If you are an employed individual working for a firm or any other kind of business facility, I will simply recommend you to make sure that you have:

Original CNIC and Two of its copies.
Proof of Employment (this could be provided by the company or employer you work for through an employment verification letter)
A detailed copy of your Utility bills (e.g. Electricity bills, Gas bills).

Business Person (Self-Employed)

You will be able to apply for an account if you are 21 to 60 years old. If you are the owner of a business and you wish to open a current account, I will simply recommend you to make sure that you have:

CNIC and 2 of its copies.
Proof of your own Business in a documented form.

“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.”

Features of Current Account (Bank Alfalah)

Access your account through online banking, checkbooks and ATM cards.
Immediate access to your funds.
Free cheque books on account opening.
No limit to withdrawals or deposits every month.
Don’t have to worry about maintaining a minimum account balance.

Savings Account

If you are going to open a saving account, The rules are quite similar to the current account.

To apply for a saving account in Bank Alfalah, There are two types of Individuals:

Salaried employee (Age limit from 21 to 60 years old)
Entrepreneur/Business Owner. (Age limit from 21 to 65 years old)

Salaried employee

CNIC and 2 of its copies.
Evidence of employment.
Documented copies of Utility bills.

Business owner

CNIC and 2 of its copies.
Proof of business.

Benefits of savings account:

Unlimited withdrawals and deposits.
Locker facilities are available.
The interest rate fluctuates from 8.25% to 9.05% on the deposited amount.
Return rates proportional to deposit rates.

“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.”

Bank Alfalah Rising Star

The bank also provides its minor customers between 6 to 17 years old with a special account to hone his/her saving habits.

Perks and features of Alfalah Rising Star:

1st cheque-book will be free.
No monthly minimum balance requirements to avoid tax imposition.
Separate counters for students.
Free credit cards for life.

If you are interested to open your own saving account, Simply you will need to visit the nearest Bank Alfalah branch with your parents to apply, Thank You.