Allied Bharosa Account

Karobar Chota Ho Ya Bara, Cash Back Hasil Karain Pura

Allied Bank announces the launch of Allied Bharosa Account, an account that primarily aims to encourage SME segment to route commercial business funds through a formal banking channel by providing them a cash back solution. Allied Bharosa Account will be a powerful product for attracting Small and Medium sized businesses, which are otherwise compelled to operate outside the formal economy, due to the value erosion of their transactions through banking channel. While providing transaction-based benefits, Allied Bharosa Account attempts to re-shape SMEs’ perception about banking channel to a more rewarding one.

  • Eligibility Criteria

    • Individuals having valid proof of Business
    • Existing Customers (Having saving Accounts)

  • Key Benefits

    • Cash back on transactions where Withholding Tax is deducted, as per law
    • Transactions Eligible for Cash Back
      • Cash Withdrawal through counter (within city)
      • Cash Withdrawal through own ATM
      • Cash Withdrawal through another bank ATM
      • Biometric OTC Cash Withdrawal Intercity
      • Clearing Transactions
      • Online Withdrawal – within ABL through branch counter
      • Online Transfer – within ABL through branch counter
      • Online Transfer – within ABL through ATM
      • Online Transfer – within ABL through myABL
      • Pay Anyone through branch counter
      • Pay Anyone through myABL
      • PO / DD Issuance from account
      • All types of Cash Withdrawals, Debit Account Transfers (counter or digital) and Instrument issuance.
    • Cash Back Basis is Equivalent to Withholding Tax deducted or profit (net-off tax) as per minimum prevailing PLS Rate for the period; whichever is lower would be the basis of Cashback.
    • (Monthly) Cash back shall be reimbursed to customer’s account during next month, via an automated process.
    • No cash back for preceding month, if account is closed before 07 working days of next month.
    • Cash Back Reimbursement is credit directly in account on monthly basis.

  • Additional Features

    • FREE First cheque book of 10 leaves
    • 50% discount on first year’s annual fee for NFC COBADGE CLASSIC Other card options shall be available at actual price as per SOC
    • e-Statements as per SOC
    • Internet / Mobile Banking as per SOC
    • Other Bank Services as per SOC

  • FAQs

    Q.1 What is Bharosa Account?

    Allied Bharosa is a current Account. Can be opened by non-tax filer individuals.  With a cash back feature for deducted WHT on eligible transactions.

    Q.2 Cash Back on what scenario will be given?

    Cash back will be extended on transactions in the account where Withholding Tax is deducted, as per law

    Q.3 Who can Open Allied Bharosa Account?

    Any individual of below type:

    • Businessmen
    • Sole-proprietors
    • Self-employed

    Q.4  Can I open an Allied Bharosa account if I do not have any account with any Bank?

    Yes, new to Bank Customers can Open Allied Bharosa Account

    Q.5 Can I open Allied Bharosa Account if I already have an account in ABL?

    Yes, one can open Allied Bharosa Account if already a Saving account holder of ABL.

    Q.6 What additional documents are required for account opening?

    For opening of Allied Bharosa account proof of business is a must required documents other than valid CNIC.

    Q.7 In what currency Allied Bharosa account can be opened?

    Allied Bharosa account can only be opened in PKR.

    Q.8 Is there anu initial deposit required for opening of Allied Bharosa Account?

    Yes. Allied Bharosa account can be open with an initial deposit of PKR: 1000/-

    Q.9 If Allied Bharosa Account can be open digitally?

    No. Currently Allied Bharosa can only be open by visiting nearest branch of your choice.

    Q.10 Is there any restriction on maintaining the minimum monthly balance to operate the account?

    No for operating the account there is no restriction of maintenance of any minimum balance

    But to avail Cash Back on WHT facility Monthly average balance should maintain as >= Rs.25,000/- and <= Rs.500,000/-

    Q.11 What are eligible transactions for Cash Back?

      1. Cash Withdrawal through counter (within city)
      2. Cash Withdrawal through ATM ABL’s /Other Banks
      3. Clearing Transactions
      4. Online Withdrawal – within ABL through branch counter
      5. Online Transfer – within ABL through branch counter/ATM/myABL
      6. Pay Anyone through branch counter /myABL
      7. PO / DD Issuance from account
      8. All types of Cash Withdrawals, Debit Account Transfers (counter or digital) and Instrument issuance.

    Q.12 On what basis cash back can be availed?

    Cash Back equivalent to Withholding Tax deducted or profit (net-off tax) as per minimum prevailing PLS Rate for the period; whichever is lower would be the basis of Cashback

    Q.13 On what frequency Cash Back will be given?

    On monthly basis Cash back shall be reimbursed to customer’s account during next month, via an automated process

    Q.14 If cash back will be extended on pro-rata basis if the account is closed?

    No cash back will be reimbursed for preceding month, if account is closed before 07 working days of next month.

    Q.15 Are there any additional benefits offered with Allied Bharosa Account?

    Yes, there are multiple exciting features offered with opening of Allied Bharosa Account such as:

    • FREE First cheque book of 10 leaves
    • 50% discount on first year’s annual fee for 0080-NFC COBADGE CLASSIC
    • Other card options shall be available at actual price as per SOC
    • Free Internet Banking
    • Free e-Statements

    Q.16 Can I open multiple Bharosa Accounts with ABL?

    No only one Bharosa Account is allowed per CNIC.

    Q.17 Can I open a Joint Account under Allied Bharosa Account?

    Yes, Partnership / joint accounts are allowed to be opened as Allied Bharosa Account.

    Q.18 Are there any Account opening charges?

    No there is no penalty or Charges are applied for closure of Allied Bharosa Account.

    Q.19 Are there any specific charges for maintenance of Allied Bharosa Account?

    There are no special Charges for Allied Bharosa Account. all the charges will be applied as per prevailing Schedule of charges.