| # |
Feature |
Details |
|---|---|---|
| 1 | Product Name | Allied Express Plus 1 Term Deposit |
| 2 | Eligibility | Allied Express Account holders only (fresh and existing) |
| 3 | Type | Term Deposit |
| 4 | Offered Terms |
|
| 5 | Profit Payout | Monthly (excluding one-month term) or at maturity |
| 6 | Roll-over | Not allowed |
| 7 | Zakat Deduction | Zakat will be deducted as per the Zakat & Ushr Ordinance 1980, unless a Zakat exemption certificate is submitted. |
| 8 | Withholding Tax on Profit | Withholding tax shall be deducted from the profit amount as per income tax provisions. |
If you already hold an Allied Express Account and wish to book an Allied Express Plus 1 TDR, follow the steps below:
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Submit a request at your nearest Allied Bank branch for booking the Allied Express Plus 1 TDR.
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Fulfill the requirements to open a linked current account, which is necessary for profit disbursement and routine transactions.
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Only Allied Express Account holders (existing or new) are eligible for Allied Express Plus 1 TDR.
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Roll-over is not allowed after the selected term matures.
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In case of premature encashment, the applicable profit will be the lower of:
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PLS/Saving rate at the time of booking, or
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The prevailing PLS/Saving rate at the time of encashment.
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Q1. What is Allied Express Plus 1 TDR?
It is a term deposit product issued exclusively against an Allied Express Account to facilitate customers receiving foreign remittances.
Q2. What is the eligibility requirement?
Only an Allied Express Account is required. However, a linked current account must be opened for profit payments and principal disbursement.
Q3. What type of current account is required?
Any ABL current account can be linked, including Allied Easy Current Account, Asaan Current, or others.
Q4. Is roll-over allowed?
No, roll-over is not permitted for this term deposit.
Q5. Can a customer book more than one Allied Express Plus 1 TDR?
Yes, multiple TDRs can be booked.
Q6. What are the available tenures?
Tenures of 1, 3, 6, or 12 months are available.
Q7. What is the profit rate offered?
It is 1% higher than the rate offered on the Allied Term Plus Deposit.
Q8. What is the minimum investment amount?
The minimum amount is PKR 25,000.
Q9. How is the principal treated on maturity?
It is credited to the linked current account upon maturity.
Q10. What are the profit payout options?
Profit can be received monthly or at maturity.
Q11. What if the customer already has a current account?
If the customer holds a current account (not savings), it can be linked to the TDR — no need to open a new one.
Q12. What documentation is needed to open a linked current account?
All documents as per existing policy and KYC/AML requirements.
Q13. Will a cheque book be issued for the linked current account?
Yes, as per the Schedule of Charges (SOC).
Q14. Will an ATM card be issued?
If the customer already has a debit card, no new card is needed. The existing card can be linked to access the current account.