Product Refresher Training For Mass Market RM: Online Training Document February 2017

Product refresher
training for Mass

market RM
Online training document
February 2017
PRELIMINARY
PRELIMINARY
Contents of the training Detailed next
Conventional products
▪ Current account
▪ Savings account
▪ Kamiyab Karaobar account
Liability
▪ Royal Profit account
▪ Asaan account
▪ Kifayat account
▪ Credit cards
▪ Auto finance
Consumer ▪ Personal loan
finance ▪ Home financing
▪ Wealth
▪ Bancassurance
SOURCE: Team analysis, Bank Alfalah 1

LIABILITY PRODUCTS CURRENCY PKR UNLESS SPECIFIED OTHERWISE PRELIMINARY
Current account features USP
Product ▪ Non-interest bearing account

type ▪ Conventional banking product
▪ All Pakistanis/nonresident Pakistanis above the age of 18 years
▪ Includes individuals, proprietorships, private companies, public limited
Target
companies and partnerships
audience
▪ Suited for customers looking to i) store their money and
have ii) frequent withdrawals and deposits
▪ Access to Alfa, Bank Alfalah’s cutting edge banking application
▪ Free first cheque book
▪ Additional cheque books available
▪ Visa debit card available
Product
▪ 5 free pay-orders available on avg. monthly balance of 50,000/-
features1
▪ Free intercity online transfers within Bank Alfalah network
▪ Free account statement available twice a year
▪ SMS alert on visa debit card transactions
▪ Unlimited deposits and withdrawals
1 Terms and conditions apply, Please also check the schedule of charges for exact fees and product wise nuances

Current account requirements and fees USP
▪ Minimum avg. balance of 5,000 required

Eligibility/
requirements
▪ Requires 1,000 to open
▪ Open to both local and foreign Pakistanis
Minimum documents needed

▪ CNIC/Passport/NICOP,
▪ Proof of income
Additional documents, some of which are optional (please refer to manual for full list)
Individual Proprietorship Limited company
▪ Account opening request ▪ Account opening request ▪ Account opening request
Documen- ▪ Indemnity against signing ▪ Indemnity against signing ▪ Indemnity against signing cheques in
tation1 cheques in different cheques in a different language different language
language ▪ Indemnity against online transfers ▪ Indemnity against online transfers
▪ Indemnity against online ▪ Proprietorship declaration ▪ Form – 29 with names of all directors of
transfers ▪ Three letter heads stamped with a company
▪ Biometric verification company stamp ▪ Three letter heads stamped with
▪ Biometric verification company stamp
▪ Bio metric verification
▪ Internet banking: 299 per 12 months (with IBFT limit of 250,000/-)
▪ Online transfers in Alfalah: 226 on Cash, 150 on incoming out of city Alfalah cheque2
▪ IBFT: 60 rupees per transaction3
▪ Cheque book: 10 rupees per leaf
▪ Stop payment on cheques: 300 per instrument, capped at 1,000 per request
Key fees1
▪ Additional statement: 35 per statement
▪ Non maintenance charges: 50 per month
▪ Visa debit card annual fee: 550 Classic, 725 Gold, 1,200 Platinum
▪ SMS alerts: 70 per month
▪ Pay order/Demand draft: 220 per pay order
1 Terms and conditions apply, Please also check the schedule of charges for exact fees and product wise nuances 2 FED included 3 FED excluded

Savings account features USP
Product ▪ Fixed interest bearing account

▪ All Pakistanis/non-resident Pakistanis above the age of 18 years

Target
audience ▪ Suited for mass market individuals looking for a secure return on their hard
earned cash

▪ Unlimited deposits and withdrawals
Product ▪ Free online transfers to Bank Alfalah within the same city
features1 ▪ Cheque book and visa debit card available
▪ 6 monthly profit credited (Competitive rates 3.75% annual)

Saving account requirements and fees
Eligibility/ ▪ No minimum balance requirement

require- ▪ 100 to open
ments ▪ Limited only to individuals
Minimum documents needed;

▪ CNIC/Passport
▪ Proof of income, valid visa (if non-resident Pakistani),
▪ Copy of NTN certificate (where required)
Documen- Additional documents, some of which are optional (please refer to manual for full list)
tation Individual
▪ Account opening request
▪ Indemnity against signing cheques in different language
▪ Indemnity against online transfers
▪ Biometric verification
▪ IBFT: 60 rupees per transaction
Key fees1 ▪ Stop payment on cheques: 300 per instrument, capped at 1,000 per request

Kamiyab Karobar account features USP
Product ▪ Non-interest bearing account

▪ All types of businesses: Individual, partnerships, companies, clubs,

Target associations, professional firms etc.
audience
▪ Suited for businesses with large number of transactions

▪ Free monthly account statement
▪ Free SMS alerts on Visa debit card transactions
Product
▪ Free ATM debit card (for classic and gold only)
features1
▪ Free online transfers to Bank Alfalah within the same city
▪ Free cheque books (25 leaves per month)
▪ Unlimited Pay orders (on minimum balance maintenance)

Kamiyab Karobar account requirements USP
and fees
Eligibility ▪ Minimum balance of 25,000 required for free features
requirement ▪ Requires 1,000 to open
Minimum documents needed;

▪ CNIC/Passport
▪ Proof of income,
Proprietorship Limited company
Documen-
▪ Account opening request ▪ Account opening request
tation
▪ Indemnity against signing cheques in different ▪ Indemnity against signing cheques in different
language language
▪ Indemnity against online transfers ▪ Indemnity against online transfers
▪ Proprietorship declaration ▪ Form – 29 with names of all directors of a company
▪ Three letter heads stamped with company ▪ Three letter heads stamped with company stamp
stamp ▪ Bio metric verification
▪ IBFT: 60 rupees per transaction3
▪ Stop payment on cheques: 300 per instrument, capped at 1,000 per request
Key fees1
▪ Non maintenance charges: 50 per month

Asaan account features USP
Product ▪ Interest bearing (saving) or non-interest bearing (current)

▪ All Pakistanis (restricted to NRPs) over the age of 18 years

Target
audience
▪ Restricted to individuals
▪ Suited for lower income customers
▪ Open account in either current or savings category

▪ Single page account opening form
Product
▪ Free semi-annual account statement
features1
▪ SMS alerts on visa debit card transactions available
▪ Annual rate of 3.75% on saving account
▪ No TDR option

Asaan account documentation and

fees structure
▪ No minimum balance required
Eligibility/
▪ Requires 100 to open
Require-
ments
▪ Annual turnover max 500,000/-
▪ Cannot be opened if customer already has an Alfalah account
▪ CNIC/Passport/NICOP
Individual
Documen-
tation
▪ Account opening request
▪ Indemnity against signing cheques in different language
▪ Indemnity against online transfers

Royal profit account features USP
Product ▪ Interest bearing account


▪ Includes individuals, proprietorships, private companies, public limited
Target
companies and partnerships
audience
▪ Suited for customers looking for a higher return than those offered by a
standard savings account
▪ PKR only savings account
▪ Free monthly e-statements
▪ Free locker for 1 year based on monthly average balance of 8 million or
higher
Product
features1
▪ Cheque book and visa debit card available
▪ Monthly profit credited (daily compounding)
▪ Tiered profit rates (Annual 3.75% with special rate for higher balances)

Royal profit account documentation and

fee structure
▪ Average balance of 5 million or higher to avail special rates (based on GM/GH approval)
Eligibility
requirement
▪ Minimum average balance of 100,000

– CNIC/Passport/NICOP,
– Proof of income
▪ Account opening ▪ Account opening request ▪ Account opening request
Documenta- request ▪ Indemnity against signing ▪ Indemnity against signing cheques in
tion ▪ Indemnity against cheques in different language different language
signing cheques in ▪ Indemnity against online transfers ▪ Indemnity against online transfers
different language ▪ Proprietorship declaration ▪ Form – 29 with names of all directors
▪ Indemnity against ▪ Three letter heads stamped with of a company
online transfers company stamp ▪ Three letter heads stamped with
▪ Biometric verification ▪ Biometric verification company stamp

Kifayat account features USP
Product ▪ Interest bearing account


Target ▪ For individuals (non-company accounts)
audience ▪ Suited for customers looking for a higher return than those offered by a
standard savings or royal profit account
▪ PKR only savings account

▪ Free monthly e-statements
▪ Cheque book and visa debit card available
Product ▪ SMS alert on visa debit card transactions
features1 ▪ Monthly profit credited (calculated on monthly average balance)
▪ Tiered profit rates
– 3.75% (0 – 999,999)
– 4.75% (1,000,000 – 4,999,999)
– 5.25% (5,000,000 and higher)

Kifayat account documentation and

fee structure
▪ Average balance of 5 million or higher to avail special rates (based on GM/GH approval)
Eligibility
requirement
▪ Minimum average balance of 10,000
▪ CNIC/Passport/NICOP,
▪ Proof of income
▪ Account opening ▪ Account opening request ▪ Account opening request
Documenta- request ▪ Indemnity against signing ▪ Indemnity against signing cheques in
tion ▪ Indemnity against cheques in different language different language
signing cheques in ▪ Indemnity against online transfers ▪ Indemnity against online transfers
different language ▪ Proprietorship declaration ▪ Form – 29 with names of all directors
▪ Indemnity against ▪ Three letter heads stamped with of a company
online transfers company stamp ▪ Three letter heads stamped with
▪ Biometric verification ▪ Biometric verification company stamp

LIABILITY PRODUCTS HIGH LEVEL PRELIMINARY
Account opening process overview
Fills form and provides

Customer
documents
Check forms and Applies for ATM card

RM documents – obtains upon removal of debit
bio-verysis block
Generates client ID and Sends account opening

CRO
account number form hard copy to CAO
Approves the
OM application – may
interview customer
Approves the
BM application – may
interview customer
Sends online copy of

DMS the form via Rosetta to
CAO
Checks the form and

CAO
removes debit block

LIABILITY PRODUCTS CPU DISCREPANCY SHEET CONTAINS MORE EXAMPLES
Common discrepancies in account opening

Account opening form not completely filled
Required supporting forms/documents not attached or not legible
Accounting opening form and supporting forms not signed by the customer
Accounting opening form missing one or more stamps
Rosetta’s scans are illegible – (common issues with KYC and ID card)
Bio-verysis is outdated/inconsistent with the ID card photo copy
Branch manager or Operation manager approval/signature is missing
Customer signatures seem infirm
Information crossed out on the form and not verified by a customer signature
FATCA forms missing/not filled in/not completed ticked

PRELIMINARY
Contents of the training Detailed next
Conventional products
▪ Current account
▪ Savings account
▪ Kamiyab Karaobar account
Liability
▪ Royal Profit account
▪ Asaan account
▪ Kifayat account
▪ Credit cards
▪ Auto finance
Consumer ▪ Personal loan
finance ▪ Home financing
▪ Wealth
▪ Bancassurance

CFG PRODUCTS CURRENCY PKR UNLESS SPECIFIED OTHERWISE PRELIMINARY
Credit card features USP
▪ Unsecured line of credit

Product type
▪ Conventional banking product
▪ Salaried and self-employed individuals
Target
– earning 20,000 or above per month (salary) or
audience
– earning 50,000 or above per month (self-employed)
▪ No annual fee – free for ever
▪ Available in 4 tiers: Classic, Gold, Titanium, Platinum
▪ Up to 0.5 Orbits on spend of PKR 50. 1 Orbit is equivalent to PKR 1,2,3
▪ Bonus Orbits of upto 500 on first transaction through credit card3
▪ Balance transfer facility (with one of the lowest charges in the market)
▪ Largest card network in Pakistan & Largest merchant network in Pakistan
▪ Easy instalment plans (with 0% interest options available for participating vendors)
▪ Convert any transaction > PKR 3,000 into installments
Product ▪ Attractive dining & shopping (up to 30% discount on selected outlets)
features1
▪ Utility bill payments, Zero loss liability and security from online fraud
▪ Global acceptability due to Visa and MasterCard
▪ Cash advance facility for emergency situations
▪ Easier payments through cheque book facility and Cash on Phone facilities
▪ Stay updated through SMS alerts
▪ Travel in luxury with priority pass and complementary access to over 25 lounges
▪ Multiple options to pay (auto debit, cheque, Alfa, InterBank Funds Transfers)
▪ Travel inconvenience coverage
2 0.25 Orbits on all Classic spend and on domestic spend of Gold, Platinum, Titanium on PKR 50, 0.5 Orbits on Gold, Platinum, Titanium international
spend each of PKR 50
3 Classic – 100 Orbits, Gold, Titanium – 250 Orbits, Platinum – 500 Orbits

Credit card documentation and fee structure
▪ ECIB
– Presently not in 30 DPD (days past due) in any product
Eligibility/ – Not more than once 30 DPD in last 6 month
Require- – Not more than twice 30 DPD in last 12 months
ments – Never 60 DPD in last 12 months
– Never in default
▪ Physical and telephonic verification required
▪ Minimum documentation required
– CNIC copy
Documen-
– 3 month salary slip/6 month balance sheet
tation
– Summary box
– SBP undertaking (except for individuals working in Cat A and B companies)
▪ APR rate: up to 40% on retail
▪ Late payment charges: Higher of PKR 1,450 or 10% of minimum amount
▪ Cash advance charges: Higher PKR 1,000 or 3% of transaction amount
▪ Over limit fee: Higher of PKR 1,200 or 2% of over limit amount
Key fees1
▪ Credit Cover Premium: 0.69% of outstanding amount
▪ SMS Alert Charges: PKR 70/month
▪ Foreign transaction fees: Up to 5% over prevailing market rate or as per SBP
directives

Detailed eligibility criteria for credit card

Card issuance criteria
Particulars Type Cat A&B companies Cat C&Non approved companies BAL staff Self employed
Classic 20 K 25K (Permanent) 35K (Contractual) 20K 50K
Gold 50 K 50K (Permanent) 50K (Contractual) 50K 50K

Monthly
Income 50 K 75K (Permanent/Contractual) 50K 60K
Titanium
requirement
Platinum 100 K 150K (Permanent/Contractual) 100K 150K
▪ CNIC copy, salary slip/certificate, ▪ CNIC copy, salary slip/certificate, ▪ CNIC copy, salary slip, staff ▪ CNIC copy, B/S for last 6
Documen- 3 months' salary A/C B/S (if salary SBP undertaking, summary box, undertaking, SBP undertaking, months, SBP undertaking,
All cards
tation verification not possible), SBP 3 months' salary A/C B/S summary box summary box
undertaking, summary box
▪ Permanent: Currently employed for ▪ Permanent: Currently employed for ▪ Permanent: Employed for ▪ SEB: Total business tenure of
3 months (total) or if currently 3 months with total experience 3 months only. If tenure is 2 years (check on Ev)
employed for 1 month or 1 month 1 year less than 3 months than documentary proof 1 day old is
salary credited than total 1 year ▪ Contract: Contractual outsourced total/previous experience acceptable
experience should be required employees currently employed for should be 6 months ▪ SEP: Total business tenure of
▪ Contract: Currently employed for 6 months with total experience for ▪ Contract/OUT source: 1 year (1 day old business
Min. tenure All cards
3 months with total experience 1 year Employed for 6 months, If proof is acceptable)
1 year or if currently employed for tenure is less than 6 months
1 month or 1 month salary credited than total/previous 1 year
than total 1 year experience experience required
required and salary should be 1 lac ▪ No tenure requirements for
Range V & above
▪ Presently not in 30 DPD in any products
▪ Not more than once in 30 DPD in last 6 months
ECIB ▪ Not more than twice in 30 DPD in last 12 months
▪ Never in 60 DPD in last 12 months
▪ No write off/charge off exceptions to be processed as deviations as per grid given later in the document
Telephonic verification
▪ One landline # or mobile company operated system with extension shall be mandatory for all cases. Exception/deviation level II (Head of
Cards & Head of Credits
▪ Only Res physical verification is required in LTM (Category “A,B”)
Physical verification ▪ Both address (Office/Res) EV required in STM category (“C,G”), unapproved category and self employed
▪ These docs verification will be conducted by ‘IV’ officer during ‘IV’
Joint A/C criteria ▪ Joint A/C is acceptable for all cards however with wife joint a/c will be considered as single (if not partner in deed)

CFG PRODUCTS PRELIMINARY
Competitive Outlook
Bank Card Variant Markup Joining Fee Annual Fee Age Bracket Income Min. Limit Max. Limit
Silver 39% Reversal on 5K 2,800 30,000 25,000 125,000

FBL Transaction 18-60
Gold 39% 5,000 50,000 125,000 500,000
Silver 39% Fee Reversal for 5,000 25,000 25,000 149,000

account holder (No
SCB Gold 39% joining fee) 5,000 60,000 150,000 299,000
22-60
Platinum 39% 8,000 100,000 300,000 2M
Green 39% No 3,000 25,000 25,000 125,000

HBL 18-65
Gold 39% 6,000 50,000 125,000 500,000
Classic 40% No No 21-65 25,000 25,000 124,999
Gold 40% 50,000 125,000 499,999

BAFL
Titanium 40% 100,000 300,000 5M
Platinum 40% 4,000 135,000 400,000 5M
Classic 40% No 1,500 18-60 (S) 50,000 25,000 125,000
UBL Gold 40% 3,000 18-65(B) 50,000 125,000 405,000
Platinum 40% 4,000 130,000 405,000 2M
Gold 48% 21-62 (S) 40,000 50,000

Silk
Platinum 48% 21-65(B) 2M
Classic 39% 1,500 21-62 25,000 25,000 150,000
MCB Gold 39% 3,000 75,000 150,000 499,000
Platinum 39% 4,000 150,000 400,000 2M
SOURCE: Bank Alfalah 20

Credit Card Process Flow

Customer
documents
Checks the application

RM and forwards to CFG
contact for the branch
Prescreens application
Credit and logs into the system
card (documents complete,
contact ECIB etc.)
Conducts a detailed
review of the application
▪ Debt burden
CIU ▪ Internal verification
▪ External verification
▪ Nadra verification
CIU Approves or rejects a

analyst case
CIU reas- Approves an

Reviews rejected cases
sesment reconsidered cases
Branches should designate a coordinator within the sales team who

consistently follows up with the designated contact point at the CIU

CFG PRODUCTS CURRENCY PKR UNLESS SPECIFIED OTHERWISE
Auto loan features USP
Product ▪ Loan to purchase a personal car

Target ▪ Pakistani nationals (salaried, self-employed individuals, landlords, housewives, retired individuals with a
audience consistent source of income)
▪ Valid for new and used cars
▪ Valid for local, imported & semi commercial vehicles
▪ Tenures of up to 5 years (7 years for local new cars >950 cc)
▪ Financing of up to 6 million (local & imported vehicles) and 4 million (used vehicles)
▪ Minimum down payments of 20% (local) and 25% (imported)1
▪ Competitive markup rate (as low as 9.90% markup) (does not include insurance)
▪ Car replacement option with no early settlement charges
▪ Co-borrower allowed
▪ Discounted insurance rates (~3%)
▪ Residual value product of up to 50% on new local vehicles
Markups by loan tenure (as of June 2016)
Product
features1 1 2 3 4 5 6 7
New local Fixed 16.0% 16.0% 16.0% 16.5% 16.5% 16.5% 16.5%
Variable K2+3.5% K+4.0% K+4.5% K+4.5% K+5.0% K+5.0%
Used Fixed 17.5% 17.5% 17.5% 17.5% 17.5%
Variable K+5.0% K+5.0% K+5.0% K+5.0%
Semi Fixed 17.0% 17.0% 17.0% 17.0% 17.0%
commercial Variable K+5.0% K+5.0% K+5.0% K+5.0%
Imported Fixed 16.5% 16.5% 16.5% 16.5% 16.5%
Variable K+5.0% K+5.0% K+5.0% K+5.0%
1 Terms and conditions apply, Please also check the schedule of charges for exact fees and product wise nuances 2 Kibor

Auto loan documentation, requirements and

fee structure
Eligibility Salary
▪ Min 21 to 60 years at time of loan maturity (upper limit of 65 years for business man)
▪ Min salary 25,000 per month
▪ Minimum experience 6 months for permanent and 1 year contractual (for cat A and B companies)
▪ Minimum experience 1 year for permanent and 2 year contractual (for cat A and B companies)
Eligibility/ Eligibility Business
Require-
▪ Minimum of 2 years in business
ments
▪ PKR 50,000 per month (assessed on bank statement or documentary evidence)
Additional Documents required – Remittance, rental and agriculture income
▪ Remitters proof of income, passport copy, 6 month bank statement, 6 month remittance slips
▪ Fard/Ownership certificate verified by Patwari/Tehsildar/ Naib Tehsildar (Agriculture)
▪ Rental agreement and title documents)
▪ Application form (completed and signed)
▪ CNIC copy
▪ Two passport size photos
Documen-
▪ Copy of salary slip (salary individual)
tation
▪ 6 month bank statement
▪ Proof of income (business)
▪ Statement from income evaluator (in case bank statement not available for a business)
▪ Processing charges 6,500

▪ Vehicle Evaluation charges upto 10,000 or as per the actual, whichever is less
Key fees1 ▪ Late payment penalty 1,000 per installment
▪ Registration service charge upto 5,000 or as per the actual, whichever is less
▪ Income evaluator charges upto 5,000 or as per the actual, whichever is less

Competitive Outlook – Bank Alfalah has one of the highest

loan sizes in the market
Down Financing Age Pre-mature Balloon Processing
Bank Loan Size Payment Tenure Income Bracket Plenty payment Fee Markup
6 M (New) 20% 1-7 30,000 21-65 (S) 7% 1st Yr 8% - 1st Yr 4500 for Local KIBOR +
MCB 4 M (Used) Yr.(New) 5 22-70 (B) 5% 2nd Yr 5% - 2nd Yr & 5000 used/ 4-5%
Yr. (Used) 3% 3rd Yr 3% - 3rd On imported
90% of Value 10% 1-5 Yr 30,000 21-60 5% 6,000 KIBOR +

FBL
5%
6M 20% 1-7 25,000-S 21-60 (S) 1-3Years 8% 2 Allowed 6,500 16% - 18%
(New/Imp) New/Imp Yr.(New) 50,000-B 22-65 (B) 4-5Years 6% after 1st Year. KIBOR +
BALF
4 M (Used) 25% Used 5 Yr. (All) 6-7Years 3% Each equal to 3.5 - 5
6 EMI
2 M (For 20% New 1-5 Yr 50,000 21-60 (S) 8% 6,000 18-21%

UBL New & Used) 25% Used 22-65 (B) KIBOR +
5.5-6.5
85% of Value 15% 1-7 20,000-S 22-65 (S) 5.80% 6,000

HBL Yr.(New) 5 30,000-B 22-70 (B)
Yr. (Used)
0.2 to 1.9 M 20% 1-5 Yr 23-65 5% 1st Yr -N/A- 5,.000 16-21.75%

NIB 2% 2nd Yr KIBOR +
2% 3rd Yr 6.75%
Sales team should frequently refresh this information

through mystery shopping at other banks
SOURCE: Bank Alfalah 24

Auto Finance Process Flow

Customer
documents

Sales co-
and forwards to CIU
ordination
support
Prescreens the
CIU application and enters
support into the system (ECIB,
documents etc.)
Conducts a detailed
CIU
▪ Debt burden
▪ Internal verification
Credit Approves or declines the

manager case
Processes declined
Sales cases for resolution
coordinator (in coordination with
branch)
Relevant Signs off on resolved

authority cases for approval


Home finance features USP
Product ▪ Home loan

type
▪ Pakistani nationals
▪ Salaried individuals
▪ Self-Employed Professionals
▪ Other salaried individuals
Target ▪ Expatriate salary class customer
audience ▪ Government / Semi-Government employees
▪ Employees of Armed Forces
▪ Self-employed business persons
▪ Landlords
▪ Retired individuals with consistent rental income / foreign remittances
▪ Available for Home Purchase, Construction (purchase plot and build), Home
improvement/renovation, Home BTF, Green mortgage (installation of solar energy
solutions)
▪ Investment/asset building services also available
Product ▪ Flexible tenures (from 3 to 20 years)
features1
▪ Balloon payment options (charges apply)
▪ Early settlement options available
▪ Co-borrower options available
▪ Competitive rates: Kibor plus 4.5% for Business/SEP and Kibor plus 3% for salaried

Home finance documentation and

requirement
▪ Co-borrowers must be spouse or major blood relations
▪ Minimum documentation required
Eligi- – Application form
bility – CNIC/NICOP copy
require- – 2 photographs (latest)
ment – Bank statement/Salary Slip or Certificate
– Photocopies of property documents
– Application fee
▪ Minimum age 23
Basic ▪ Max age 62 (self-employed) or 3 years from retirement (salaried)
docu- ▪ Minimum net income of 100,000 per month
ment- ▪ Minimum 2 years permanent or 5 contractual employment
tations
▪ Minimum 3 years continuous practice for self-employed professionals and 5 years for
business owners
▪ Late payment charges 1,000 per payment
▪ Processing fees 5,000 (10,000 for business person)
Key
fees1 ▪ Early settlement charges(5% in first 5 years, and 3 years after)
▪ Balloon payment charges (5% penalty on payment exceeding 20% of the outstanding
amount)

Detailed requirements for home finance

 Copy of CNIC/NICOP
Co borrower  2 latest Photos
 BBFS. Declaration of Consumer Financing. Net worth statement
 Employment certificate.
Salaried  Salary slips for last 2 months attested by employer
Customers  6 months bank statement.
 Employment verification from on BAL Format (where apply)
 12 months bank statement (business)
 Proof of income for 2-3 years – Audited Accounts. Income Tax Returns. income estimation report to be arranged from
Bank’s approved firm (here income is not otherwise ascertainable).
 Copy of current professional association membership / trade body membership certificate (where applicable).
Self
 Copy of partnership deed. cops of form C. Bank’s certificate stating partnership’s credit worthiness & names of partners.
Employed
 NTN certificate (Business & personal)
Business-
 Copy of CNIC of all partners/directors.
persons
 Copies of last 3 year income tax returns.
Professionals
 Proof of business (min. tenure 5 years).
 Copy of last Form 29 duly attested by the SECP, letter from the company secretary confirming the status. shareholding and
remuneration paid to the customer (where applicable and a copy of Form A.)
 Bank certificate mentioning status of customer in business/Co.
 Agreement to sell.
Home Buy
 Proof of payment of Biyana.
Home Build  Bill of Quantity (Bank Format) – detailing stage wise cost of construction
 BTF letter from existing Lending Bank specifying the details and balances
Home BTF
 Declaration by Customer (Bank Format).
 Copy of Pakistani Passport for at least 6 months validity and NICOP attested from Pakistani Consulate/Employer’s HR Manager.
 Copy of Contract / Work Permit / IQAMA / Residence Permit.
 Specific declaration/undertaking that he/she does not own any property) outside Pakistan
Expatriate
 Personal guarantee of a resident Pakistani as acceptable to the Bank (where required as an approving condition)
Salaried
 Proof of clean past credit history report of consumer loans if availed in that country.
 Copies of last three years Tax Returns (not applicable to Middle Eastern and other countries where tax is not mandatory or
tax exception is held)
Note: Please do confirm the latest applicable rates and charges before sharing with customers.

Home Finance process flow

Customer
documents
Checks the application and

RM
forwards to CIU support
Prescreens the application

CIU
and enters into the system
support
(ECIB, documents etc.)
Conducts a detailed review

▪ Debit burden
CIU
▪ Internal verification
▪ Property verification
Credit
Approves or declines the case
manager
Processes declined cases for

Sales
deviations (in coordination with
coordinator
branch)
Relevant Signs off on approved

authority deviations


CFG PRODUCTS CURRENCY PKR UNLESS SPECIFIED OTHERWISE
Personal loan features USP
Product ▪ Term financing via cash loans and BTF with top up
type
Target ▪ Pakistani individuals (salaried, self-employed and professionals)

audience looking to finance investment or consumption
▪ Available for tenures of 1 to 5 years

▪ Loan amounts of 50k to 1 million
▪ 2 PDCs equal to 6 equated monthly installments each per year
▪ Multiple repayment options
▪ Markup ~26%
▪ Credit multiples of 2x to 10X
Segment Rate
Product Salaried – STS (Salary Transfer Segment) I year KIBOR + 19%
features1
Salaried – ARPC (Asset Relationship I year KIBOR + 20%
Preferred customers)
Salaried – LTM & STM I year KIBOR + 21%
Self Employed (ARPC or BRPC) (Branch I year KIBOR + 22%

Relationship Preferred Customers)
Self Employed Professionals and Businessmen I year KIBOR + 24%
1 Terms and conditions, Please also check the schedule of charges for exact fees and product wise nuances
2 Markup Rate based on KIBOR for the month of July’15.
30
Personal loan requirements, documentation

and fee structure
▪ Targeted relationships ▪ Minimum income
– Salaried individuals with salary transfer within Bank Alfalah – 25,000 gross LTM – permanent and company
– Self-employed bank customers with minimum 6 month contractual
relationship with bank and avg balance above 50 k in last – 30,000 gross LTM – outsourced staff
6 months – 35,000 gross STM – permanent and
– Salaried/Self-employed customers with one year asset company contractual
Eligibility
relationship – 50,000 self employed
require-
– Self-employed bank customers with minimum 2 year – 50% of average of last 6 months consistently
ment
relationship and average balance >=100K in last 6 months recurring bonus can be added for LTM
or one year branch relationship with >=200K average (except outsourced) and STM
balance in last 6 months – Other income can be clubbed with primary
▪ Age 21 to 60 years (salary) and 21 to 65 years (business) at income. Other income that is being clubbed
loan maturity cannot be more than 50% of primary income
▪ Minimum bureau history 12 months
▪ Documents needed ▪ Additional documents for BTF and BTF with
– Application form Top Up
– CNIC – BTF Application
Documen-
– 6 month bank statement (only for STM) – Latest bill of Credit card(s)/Revolving Line(s)
tation
– Salary slip/salary certificate to be transferred
– SEB: Tax returns, NTN, Bank certificate or other proof of business
– SEP: Relevant supporting documents
▪ Processing Fee of Rs. 3,000 or 1% of
Early 1st year 2nd year 3rd year onwards
the loan amount (whichever is higher)
Settlement
▪ Late Payment Fee of Rs. 600 per
Fee
10% of the 8% of the remaining 5% of the remaining
month per installment remaining principal principal principal
Key fees1
▪ Cheque Return Charges Rs. 600 Partial 1st year 2nd year 3rd year onwards
Prepayment 8% of the paid 5% of the paid
Fee Not allowed
amount amount
1 Terms and conditions, Please also check the schedule of charges for exact fees and product wise nuances

Personal loan process flow

Customer
documents

RM and forwards to credit
card contact at branch
Prescreens application
Personal
and logs into the system
loan
(documents complete,
contact
ECIB etc.)
Conducts a detailed
▪ Debt burden
CIU ▪ Internal verification
CIU Approves or rejects a

analyst case
CIU
Approves reconsidered
reassess- Reviews rejected cases
cases
ment


CURRENCY PKR
Wealth management features, fees and USP
documentation
Product type ▪ Investment in Mutual Funds
▪ Individuals (HNWIs or small savers) looking for alternative Investment avenues

Target ▪ Pakistanis/Non-resident Pakistanis existing & NTB Clients of BAFL
audience ▪ Institutions – Corporations, Government Institutions, Provident Funds etc.
▪ Rate sensitive clients
▪ Open & Closed Ended schemes

▪ Diversification of client’s investment portfolio
▪ Rebate on Individual income tax
▪ Professional management of funds
▪ Flexibility & Convenience – easy investment and withdrawal
Product
▪ Nominal amount to initial investment ( PKR 5,000)
features1
▪ Wide variety of asset classes available to match investor’s risk/return profile
▪ Complete transparency on investments (regulated by SECP)
▪ Same returns for all the investors; irrespective of investment size
▪ Option to re-invest dividends
▪ Option to take loan against investment (subject to approval)
For Individuals Additional For Institutions

▪ Account opening form ▪ Account opening form
▪ Fact Sheet or MID Form ▪ Board Resolution allowing
Documen- ▪ Risk profile questionnaire Investment
tation and
▪ Valid CNIC / passport ▪ CNICs & signatures of
requirements authorized signatories
▪ Source of Income
▪ Zakat Exemption Form (if applicable)
▪ Cheque or other instrument carrying investment
Key fees1 ▪ Sales load of 1 – 3 % (varies with Fund Type)

PRELIMINARY
Wealth management – details on selected funds

Fund Category Risk FEL Time Horizon Features Expected Returns*
▪ AGHP Sovereign Fund ▪ Income ▪ Low ▪ 1% ▪ Short – ▪ Tax Rebate ▪ 5.5% - 6%

Medium ▪ Low Risk
Term
▪ Alfalah GHP Prosperity ▪ Asset Allocation - ▪ Medium ▪ 1% ▪ Medium – Underlying 3 plans of Equity exposure from ▪ 6% - 7%
Planning Fund - Funds of Funds - High Long 20% to 100%
Conservative Term ▪ Tax Rebate
▪ Alfalah GHP Prosperity ▪ 1.5%
▪ Well diversified portfolio of high quality ▪ 7% - 8%
equity/debt assets
Planning Fund – Moderate
▪ Alfalah GHP Prosperity ▪ 2.5% ▪ 9% above
Planning Fund – Active
▪ Alfalah GHP Stock Fund ▪ Equity ▪ High ▪ 3% ▪ Long Potentially high returns ▪ Dependent on
Term ▪ High risk mkt conditions
▪ Tax Rebate ▪ Average return
▪ Well diversified portfolio of high quality more than 15 %
equity assets & Debt Instruments in last 5 years
▪ AGHP Value ▪ Aggressive Fixed ▪ Modera- ▪ 3% ▪ Long Potentially high returns ▪ 10% - 12%
Income tely High Term ▪ High risk
▪ Tax Rebate
▪ Well diversified portfolio of high quality
equity assets & Debt Instruments
▪ IPPF – Balanced Fund ▪ Asset Allocation - ▪ Medium ▪ 1.25% ▪ Long Equity Exposure up to 20% ▪ 6.5% - 8%
Islamic Funds of Funds Term ▪ Potentially good returns
(Shariah ▪ Tax Rebate
Compliant) ▪ Well diversified portfolio of high quality
equity assets & Sukkuks
▪ Alfalah GHP Islamic Stock ▪ Equity (Shariah ▪ High ▪ 3% ▪ Long Potentially high returns ▪ Dependent on
Fund Compliant) Term ▪ High risk mkt conditions
▪ Tax Rebate ▪ Average return
▪ Well diversified portfolio of high quality more than 15 %
equity assets in last 5 years
▪ Shariah Compliant

CURRENCY PKR UNLESS SPECIFIED OTHERWISE PRELIMINARY
Bancassurance features, fees and USP
documentation
Bancassurance
Product Type
▪ Pakistanis/Non-resident Pakistanis already maintaining an account with Bank Alfalah .

▪ Salaried Individuals, Professionals (Chartered Accountants, Consultants, Doctors, etc.), Self Employed Individuals,
Target
Proprietorships, Partners and Family concern business
Audience
▪ Landlords, Housewives & Retired Individuals with consistent Rental Income/Foreign Remittances.
▪ Government / Semi Government employees and Employees of Armed Forces.
▪ Starting premium as low as PKR 18,000/- (for Rehnuma Plan) / PKR 36,000 (for others)
▪ Life Insurance coverage in addition to maturity benefit with option to prematurely en-cash the policy’s cash value
▪ Unit Linked Investment in balanced portfolio with first year unit allocation as high as 40% and option to change
investment options
Product ▪ Flexible premiums (with monthly, quarterly, half yearly and annual modes available)
Features1 ▪ Top up premium option to enhance cash value of the plan
▪ Multiple types of plans available (Education, Marriage, Retirement, Takaful, Low Ticket, Women Specific Plan)
▪ Minimum term of 10 years – Maximum Term of 47 Years (Retirement Plan) / 57 Years (Others)
▪ Additional benefits available (Accidental death and disability, income benefit, waiver of premium, critical illness etc.)
▪ 14 day trial option with full refund if customer not satisfied
▪ Age between 18 and 65 years at time of insurance , Maximum age of 50 Years for Retirement Plan
▪ Maximum term subject to upper age limit of 75 years
▪ Bank Alfalah account holder
Documen- ▪ Minimum documentation required
tation/ – CNIC/NICOP copy
Requirements – Beneficiary details/Next of Kin details
– Signed illustration form
– Direct debit authority form & T&Cs signed by customer
– Declaration form
Bank Alfalah does not charge any processing fees for Bancassurance Solutions, all the applicable charges pertain to insurance
Key Fees1 company and are adjusted from the premium of the customer.

Product Refresher Training For Mass Market RM: Online Training Document February 2017

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Product refresher

training for Mass

Contents of the training Detailed next

SOURCE: Team analysis, Bank Alfalah 1

Current account features USP

Product ▪ Non-interest bearing account

SOURCE: Team analysis, Bank Alfalah 2

Current account requirements and fees USP

▪ Minimum avg. balance of 5,000 required

Minimum documents needed

SOURCE: Team analysis, Bank Alfalah 3

Savings account features USP

Product ▪ Fixed interest bearing account

▪ All Pakistanis/non-resident Pakistanis above the age of 18 years

▪ Access to Alfa, Bank Alfalah’s cutting edge banking application

SOURCE: Team analysis, Bank Alfalah 4

Saving account requirements and fees

Eligibility/ ▪ No minimum balance requirement

Minimum documents needed;

SOURCE: Team analysis, Bank Alfalah 5

Kamiyab Karobar account features USP

Product ▪ Non-interest bearing account

▪ All types of businesses: Individual, partnerships, companies, clubs,

▪ Access to Alfa, Bank Alfalah’s cutting edge banking application

SOURCE: Team analysis, Bank Alfalah 6

Kamiyab Karobar account requirements USP

Minimum documents needed;

SOURCE: Team analysis, Bank Alfalah 7

Asaan account features USP

Product ▪ Interest bearing (saving) or non-interest bearing (current)

▪ All Pakistanis (restricted to NRPs) over the age of 18 years

▪ Open account in either current or savings category

SOURCE: Team analysis, Bank Alfalah 8

Asaan account documentation and

SOURCE: Team analysis, Bank Alfalah 9

Royal profit account features USP

Product ▪ Interest bearing account

▪ All Pakistanis/nonresident Pakistanis above the age of 18 years

SOURCE: Team analysis, Bank Alfalah 10

Royal profit account documentation and

Minimum documents needed

SOURCE: Team analysis, Bank Alfalah 11

Kifayat account features USP

Product ▪ Interest bearing account

▪ All Pakistanis/nonresident Pakistanis above the age of 18 years

▪ PKR only savings account

SOURCE: Team analysis, Bank Alfalah 12

Kifayat account documentation and

SOURCE: Team analysis, Bank Alfalah 13

Account opening process overview

Fills form and provides

Check forms and Applies for ATM card

Generates client ID and Sends account opening

Sends online copy of

Checks the form and

SOURCE: Team analysis, Bank Alfalah 14

Common discrepancies in account opening

Required supporting forms/documents not attached or not legible

Accounting opening form missing one or more stamps

Bio-verysis is outdated/inconsistent with the ID card photo copy

Branch manager or Operation manager approval/signature is missing

Customer signatures seem infirm