consumer finance at bank alfalah.ppt
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Consumer Finance at Bank
Alfalah
Prepared By:MB06108 sana khan
MB06138 mehwish shan
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Brief History and Background of Bank
Alfalah
Incorporated on June 21st, 1997 as a public
limited company under the Companies
Ordinance 1984
Its banking operations commenced fromNovember 1997
Belongs to Abu Dhabi Group
One of the Leading Banks in Pakistan
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Consumer Finance at Bank Alfalah
Consumer Finance at Bank Alfalah comprises
of the following four segments:
Credit Cards
Home Loans
Auto/Vehicle Loans
Debit Cards
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Bank Alfalah Credit Cards
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Bank Alfalah Credit Cards - Types
PLATINUM
GOLD & SILVER
YOUNG PROFESSIONAL
WOMEN EXCLUSIVE
STUDENT CARD
SUPPLEMENTARY CARD
VISA MINI
AWAMI CARD
*brief descriptions to follow in oral presentation
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Bank Alfalah Credit Cards
Schedule of Charges
(Double Click on the object on right side
to Open MS Word File)
Service Fees: 3.00% per month (36% APR) on
cash advance
3.00% per month (36% APR) on
retail transactions
1.50% per month (18% APR) on BTF
transactions
Schedule of Charges For Platinum, Gold and Silver CardsService Fee 3.00% per month (36% APR) on cash advance
3.00% per month (36% APR) on retail transactions1.50% per month (18% APR) on BTF transactions
1.75% per month (21% P.A. flat rate) on SBS transactions (APR 31.23% to
36.74%)Step-By-Step (SBS) - Factors & APR details: Installment Plan Factor APR3 months 0.350833 31.23%6 months 0.184167 35.15%9 months 0.128611 36.36%12 months 0.100833 36.74%18 months 0.073056 36.68%24 months 0.059167 36.22%30 months 0.050833 35.66%36 months 0.045278 35.07%0.99% per month (11.88% P.A. flat rate) on BTF to SBS transactions (APR17.73% to 21.44%)BTF to SBS - Factors & APR details: Installment Plan Factor APR3 months 0.343233 17.73%6 months 0.176567 20.09%9 months 0.121011 20.90%12 months 0.093233 21.25%18 months 0.065456 21.44%24 months 0.051567 21.37%30 months 0.043233 21.21%36 months 0.037678 21.01%24% APR on Credit on Phone to SBS Transactions
Credit on Phone to SBS - Factors & APR details: Installment Plan Factor APR3 months 0.34675 24.00%6 months 0.17853 24.00%9 months 0.12252 24.00%12 months 0.09456 24.00%18 months 0.0667 24.00%24 months 0.05287 24.00%30 months 0.04465 24.00%36 months 0.03923 24.00%
Late Fee Rs. 600/- or 10% of minimum amount, whichever is higher. Cash Payment Processing fee Rs. 100/- per transaction.Merchant Discount Charges Upto 5% of transaction amount.VISA Mini Card Supplementary
Fee Rs. 500/-Cash Withdrawal Fee:
- Cash Advance Fee/Call & PayFee Rs. 500/- or 3% of cash advance amount, whichever is higher
1% of cash advance amount
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Bank Alfalah Home Loans
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Bank Alfalah Home Loans
Home Loan Programs at Bank Alfalah
Home Start
Home Construct
Home Buyer
Home Improver
Home BTF
*brief descriptions to follow in oral presentation
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Bank Alfalah Home Loans (Contd.)
Eligibility Criteria
Pakistani Nationality.
Age Range 23 and 60 years at the time of application. (Subject to
maximum age of 65 at the time of maturity). Continuous employment in a permanent position for the last 2
years or more OR 3 years (or more) of business or professionalexperience
Gross annual income is Rs: 240,000/ or more [Spouses
income (upto 50%) can also be combined]. If you have been a Bank Alfalah borrower for past one year with
clean payment record.
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Bank Alfalah Home Loans (Contd.)
Documents Required
Basic Documents:
2 recent passport size photographs
Copy of Computerized National Identity Card (Original to beshown at branch)
Bank Statement for the last 6-12 months (Original or attested)
Copies of complete chain of title documents of the property beingoffered (If identified)
Processing Fee Cheque favoring Bank Alfalah Limited Life Insurance (MPP) & Property Insurance (PI) form
Letter of Understanding
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Bank Alfalah Home Loans (Contd.)
Additional documents for Businessmen / Self-Employedindividuals.
Copy of current association membership / trade bodymembership certificate (if applicable)
Deed of Partnership + (Undertaking & NOC) as per Bank format.
Sole Proprietorship Letter / Certificate from customers bank.
Copy of latest Form 29 duly attested by the company secretary.
Letter from company secretary confirming either the status andshare holding or remuneration (Where applicant is a Director /
Paid Director of company) Copies of last three Year Income Tax Returns.
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Bank Alfalah Home Loans (Contd.)
Miscellaneous as per requirements
Construction: Bill of Quantity prepared by an Architect
Renovation / Improvement: Estimate of Renovation
BTF: Certificate of balance from current lender bank including the
list of title documents held. BTF: Customers declaration
Proof of other Income (if any such as Rent Agreement, Agri PassBook, etc.)
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Bank Alfalah Home Loans (Contd.)
Processing Fee (Non Refundable)
For financing upto Rs.1.00M 5000
For financing upto Rs.2.50M 10,000
For financing upto Rs.5.00M 12,500
For financing over Rs.5.00M 15,000
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Bank Alfalah Home Loans (Contd.)
Mark-up Rates:
1 Year KIBOR + 2%for Salaried person
1 Year KIBOR + 3%for Business People / Self-employed andOverseas Pakistani (both salaried and self-employed)
Fixed Rate Options: 1 Year
Salaried 12.50%per Annum
Self-employed Professionals & Businessmen andOverseas Pakistani (both salaried and self-employed)13.50%Per Annum
* These are indicative rates reviewed monthly
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Bank Alfalah Home Loans (Contd.)
Late Payment Charges: Rs. 500/- per late payment
Prepayment Charges:
Nill if repaid through own sources. Otherwise 5% penalty of theoutstanding amount.
No charges are applied on balloon/bullet payments for reducing yourloan amount
Documentation Charges:At actual, including stamp duty charges forlegal documentation, on-site inspection during construction, lawyersfee and charge registration fee, as advised by the relevant persons/agencies.
*All quoted rates are subject to change in response to SBP / Marketfactors. However, we will notify our customers of each rate change
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Bank Alfalah Home Loans (Contd.)
10 steps of Home Financing at Bank Alfalah
1. Bank Alfalah provides all necessary information about HomeFinance. Through:a) A face-to-face meeting
b) The post
c) And over the telephone2. Client gives the Bank some basic information about income and
the amount needed.
3. Client completes an application form and submits it together withthe required documents.
4.
Bank makes some inquiries about clients financialcircumstances.
5. Bank carries out a valuation of the property and verification ofclients income.
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Bank Alfalah Home Loans (Contd.)
6. Once initial processing is complete, Bank sends the Client, itsoffer through a Facility Advice Letter.
7. Client signs the Facility Advice Letter and return it to the Bank.
8. Banks Documentation Control Centre gets in touch with theClient to complete Finance & Security documentation includinglegal opinion on the title documents of the property and also theinsurances.
9. The Client signs the Finance Agreement and Chargedocuments.
10. Banks legal advisor accompanies the client to the Registrars
office on the appointed date with the Clients cheque against thefinancing for conveyance of the property and Clients homefinance begins.
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Bank Alfalah Vehicle Lease
Presented By:MB06108 Umair Sajid Dar
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Bank Alfalah Car Financing
Benefits and Features:
Quickest processing.
No hidden charges.
Minimum down payment.
Complete repayment at any point of time.
Balance transfer facility {BTF} for existing as
well as new clients from other Banks.
Tenure period ranging from 1 to 5 years.
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Bank Alfalah Car Financing
Financing of all brand new locally assembled
vehicles and used cars.
Financing limit ranging between Rs. 200,000/- to Rs.
2000,000/- for brand new cars. Corporate & Individual Car Leasing
Insurance
Repayments
Security
You Can Act As A Co-Borrower
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Bank Alfalah Car Financing (Contd.)
Eligibility Criteria:
Pakistani National Identity Card holder.
Over 20 years of age (Maximum 60 years in case of
salaried and 62 in case of a business person at thetime of maturity of the loan).
Salaried , businessman or self employed.
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Bank Alfalah Debit Cards
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Bank Alfalah Debit Cards
Bank Alfalah Debit Card is named as Alfalah Hilal
Card. Visa Debit Card
Unlimited access to your current / savings account with a simple
swipe
No Interest
No Minimum Income Requirement -just open an account in any
branch of Bank Alfalah Limited and apply for the Hilal Card
No PIN required for Retail Transactions Accepted at more than 1 Million ATMs and 27 Million retail outlets
around the world
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Bank Alfalah Debit Cards (Contd.)
Uses of Hilal Card:
As a Debit Card
As an ATM Card
Difference between Hilal
Card and Credit Card:
Hilal Card Credit Card
Buy Now, Pay Now Buy Now, Pay Later
No Monthly
Repayment
Monthly Repayment
No Interest Charged Interest is Charged
Limit is the Balance
in the Account
Limit is the
approved Credit
Limit