Bank Alfalah has over 650 branches around the nation. It is one of the largest banks in Pakistan. Their banking services are exemplary and worth looking into. If you own a bank account in Alfalah, you should definitely consider their loan programs. Bank Alfalah has two loan programs that we’ll discuss in this article. They are the Bank Alfalah credit card and bank Alfalah Loan programs.
Bank Alfalah Credit card types
Bank Alfalah offers many types of credit cards. They include the Titanium, Gold, Platinum, Silver, and Ultra credit cards.
The silver card requires a minimum monthly income of 25,000 for salaried and 60,000 for self-employed. For gold, monthly income for salaried comes down to 20,000. To apply, you need to be over 21 and submit your bank statement and CNIC. Salaried individuals must submit 3 months of payment slips. Self-employed must submit valid proof of business.
The Alfalah visa platinum credit card, as well as titanium and ultra cards, require a minimum monthly income of 170,000 for salaried and 400,000 for self-employed. To apply, you need to be over 21 and submit your bank statement and CNIC. Salaried individuals must submit 3 months of payment slips. Self-employed must submit valid proof of business. A full list of bank Alfalah credit card products are available on their site.
All cards carry an interest rate of 40%. There is a 4000 fee for the ultra card.
i. Credit Card Eligibility
You can visit the bank Alfalah site to calculate your eligibility. Once you’ve found the right card to fit your needs, you can fill out the online form. After filling out the form, your application will be processed. You then have to fill out paperwork at a branch and sign. Upon approval, you can get yourself a Bank Alfalah credit card. It’s as simple as that!
ii. Credit Card Charges & Rewards
If you exceed your limit, outstanding balances incur charges of around 1250 Rs. Interest rates are also charged. That is why you should ensure that you are within your limit at all times. Credit periods vary by card, but are generally around 50 days. Service charges are low, and balance transfers are easy. Cash withdrawal is also a breeze. Bank Alfalah credit card offers reward points as well. Those can be earned when you make any purchases. By using those reward points, different discounts can also be redeemed. Cashback based rewards are also widely available. This makes bank Alfalah credit card one of the best ones. You should consider getting yourself one if you didn’t already.
iii. Safety Tips for Credit Card Holders
It is important to ensure that you use a credit card carefully though. Fraudulent charges aren’t uncommon. Banks usually don’t take loss liability. That means that you might lose money by giving your information out. Remember that you shouldn’t give your information out to anyone. Only pay using credit cards using secure portals. Never let a salesman take your bank Alfalah credit card out of your sight. In case of any issues, call the bank Alfalah credit card helpline.
Credit cards open the world of opportunities for you. Everything from overdrawing to international purchases is now at your fingertips. Just remember to follow safety tips, and you’re in for a thrill. Get your amazing bank Alfalah credit card and bring mobility to your life today!
Bank Alfalah loan
There are many times when you might want a loan but are unable to take one. Bank Alfalah loan program, fortunately, makes that easier for you. The loan terms of Bank Alfalah are one of the best that we have seen.
i. Loan Particulars
Bank Alfalah loan program offers you loans at a minimum of 50,000 rupees. The loan must be taken for a minimum of 1 year. The maximum limits are 2,000,000 and 5 years respectively. The loans require no security, which is rare to see.
ii. Loan Documentation
Not much documentation is required for bank Alfalah loans. Loans can be topped up. Repayments can be made using diverse channels. You can even lower installments by making partial payments. The markups are less heavy than other banks, making the Bank Alfalah loan program perfect. You even get orbit points for signing up for a loan!
iii. Loan Interest & Installments
Loan interest is typically at 22%. You can opt for varied programs as well. Incentives are offered for long-standing customers. An online program on bank Alfalah’s site can let you get quick estimates. Payments can be made in monthly installments. You can also opt for other installment plan
iv. Loan Eligibility
The application process is fairly simple. You first need to check if you qualify. The age ranges are 20 to 60 for salaried individuals. For others, it is 20 to 60 years of age. Income should be at least 25,000 for salaried and 50,000 for non-salaried individuals. A minimum 12-month bureau history is also required. All individuals with consistent rent income or foreign remittances are also eligible. All individuals with a company letter of comfort are similarly eligible.
v. Loan Application
If you meet the eligibility criteria, you need to fill out an application form. The application form has a number of requirements. An application form must be filled out, along with signatures. A copy of your CNIC must also be attached. Salary slips or certificates, and tax returns are also necessary for application. Auto loans and other similar loans have similar application procedures. An online application can be filled out for all loans. However, you must visit the branch to sign forms.
For auto loans, 2 passport size photos are also attached. Your minimum salary must be 30,000. For home loans, your current tenure at work must be at least 2-5 years. The chances of getting a better loan improve if your ability to repay is reasonably high.
With these credit-based offerings from bank Alfalah, fulfilling your desires are easy. Never turn your back to something because of empty pockets. Just go to your local bank Alfalah branch and get loans.
Both the offerings by bank Alfalah are admirable. The offerings are simple and the proceedings are transparent. The transparency of charges schedules was very admirable. Whether you need a small overdraw or a large loan, these options are perfect for you. With the low rates that are charged, there is no reason not to use these wonderful services!