Bank Alfalah, one of the leading banks in Pakistan, has recently introduced a new digital account called Roshan Digital Account. This account is specially designed for overseas Pakistanis who want to invest in their home country. In this article, we will discuss everything you need to know about Bank Alfalah Roshan Digital Account.
What is Bank Alfalah Roshan Digital Account?
Bank Alfalah Roshan Digital Account is an online account that allows overseas Pakistanis to open and manage their bank account from anywhere in the world. This account is designed to provide a convenient and secure way for overseas Pakistanis to invest in their home country.
Who can open a Bank Alfalah Roshan Digital Account?
Any Pakistani national who is living abroad can open a Roshan Digital Account. All you need is a valid Pakistan Origin Card (POC), National Identity Card for Overseas Pakistanis (NICOP), or a valid Pakistani passport.
What are the benefits of Bank Alfalah Roshan Digital Account?
Bank Alfalah Roshan Digital Account offers a wide range of benefits to its customers. Some of the key benefits are:
- Easy account opening process: You can open a Roshan Digital Account online from anywhere in the world.
- No minimum deposit required: You can open the account with any amount of money.
- Higher profit rates: Bank Alfalah offers competitive profit rates on Roshan Digital Account.
- Online banking: You can manage your account online and perform transactions from anywhere in the world.
- Investment opportunities: You can invest in different instruments such as stocks, mutual funds, and government securities.
- Tax-free returns: Profit earned on investment in government securities is tax-free.
- Free remittance service: You can transfer money to your Roshan Digital Account for free through the State Bank of Pakistan’s (SBP) Roshan Digital Account portal.
How to open a Bank Alfalah Roshan Digital Account?
The account opening process for Bank Alfalah Roshan Digital Account is simple and straightforward. Here are the steps to open the account:
- Visit Bank Alfalah Roshan Digital Account portal.
- Click on the ‘Open Account’ button.
- Fill in the required details such as personal information, contact details, and identity document details.
- Upload the scanned copy of your identity document.
- Submit the application.
- Your account will be opened within 48 hours.
What documents are required to open a Bank Alfalah Roshan Digital Account?
To open a Bank Alfalah Roshan Digital Account, you need to provide the following documents:
- Pakistan Origin Card (POC), National Identity Card for Overseas Pakistanis (NICOP), or Pakistani passport.
- Proof of overseas residence such as a utility bill or bank statement.
- Proof of income such as a salary slip or tax return.
What are the fees and charges for Bank Alfalah Roshan Digital Account?
Bank Alfalah Roshan Digital Account has no account opening or maintenance fees. However, there may be charges for certain services such as international wire transfer and ATM transactions. It is recommended to check the fee schedule before using any service.
How to deposit money into Bank Alfalah Roshan Digital Account?
You can deposit money into your Bank Alfalah Roshan Digital Account through the following methods:
- Through an international wire transfer from your overseas bank account.
- Through a local bank transfer from your Pakistani bank account.
- Through a cash deposit at any Bank Alfalah branch in Pakistan.
How to withdraw money from Bank Alfalah Roshan Digital Account?
You can withdraw money from your Bank Alfalah Roshan Digital Account through the following methods:
- Through an international wire transfer to your overseas bank account.
- Through a local bank transfer to your Pakistani bank account.
- Through a cash withdrawal at any Bank Alfalah branch in Pakistan.
What are the investment opportunities available with Bank Alfalah Roshan Digital Account?
Bank Alfalah Roshan Digital Account offers a wide range of investment opportunities such as:
- Stocks: You can invest in Pakistan Stock Exchange (PSX) through Bank Alfalah’s iTrade platform.
- Mutual funds: You can invest in mutual funds offered by different asset management companies in Pakistan.
- Government securities: You can invest in different government securities such as Pakistan Investment Bonds (PIB) and National Savings Schemes (NSS).
What are the profit rates offered by Bank Alfalah Roshan Digital Account?
Bank Alfalah offers competitive profit rates on Roshan Digital Account. The profit rates are subject to change based on market conditions. You can check the latest profit rates on Bank Alfalah Roshan Digital Account portal.
Is Bank Alfalah Roshan Digital Account safe and secure?
Bank Alfalah Roshan Digital Account is safe and secure as it is backed by Bank Alfalah, one of the leading banks in Pakistan. The account is protected by multiple layers of security such as two-factor authentication and encryption. Moreover, the State Bank of Pakistan (SBP) monitors and regulates the account to ensure its safety and security.
Conclusion
Bank Alfalah Roshan Digital Account is a great initiative by Bank Alfalah to facilitate overseas Pakistanis in investing in their home country. The account offers a wide range of benefits such as easy account opening process, higher profit rates, and investment opportunities. With Bank Alfalah Roshan Digital Account, overseas Pakistanis can now conveniently and securely invest in their home country from anywhere in the world.