Allied Islamic Asaan Saving Account

The product is designed on the guidelines provided by SBP.

Allied Islamic Asaan Saving Account provides simplified account opening requirement/procedure aimed for the financial inclusion of low risk customer especially unbanked/under banked segment of population.

Salient Features

The salient features of the product are:

  1. Simplified account opening.
  2. Initial deposit requirement for account opening is Rupees 100.
  3. Account can only be opened in Pak Rupees only.
  4. Transaction turnover (Debit & Credit each) Rs. 500,000/- per month.
  5. The Accounts will be operated based on the mode of Mudaraba with no Minimum balance requirement for profit calculation.
  6. Profit calculation on average balance of the month and payment on half yearly basis.
  7. No account maintenance/conversion/closing charges
  8. Complimentary statement of account on half yearly basis.
  9. Free first cheque of 10 leaves.
  10. Free SMS banking
  11. Free Issuance of ATM/Debit Card (annual charges apply as per SOC from second year)