How to open an account in Allied Bank

By Avatar on
August 12, 2019
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Allied Bank was the first Islamic Bank established in Pakistan and it  currently has over 1300 branches and ATMs.

Allied Bank also provides Internet banking services to its customers through mobile, tablet and laptop devices. The myABL mobile app comes with a biometric login system and is available for both Apple iOS and Google Android Devices.

Some of the key features of Allied Bank myABL app are listed below:

  • Alternate login through Touch ID (Android & iOS) & Face ID (iOS only)
  • A user-friendly completely transparent view of the customer and bank relationship.
  • Discount Offers feature gives you a quick way to locate discount offers nearby you on any particular ABL product.
  • New ATM & Branch Locator provides ease in searching for ATMs or branches offering desired facilities.
  • Mark favourite transaction for quick payments.
  • Transfer funds and pay bills without any requirements of prior addition of Payee.
  • Free-text search option which takes the user directly to the desired option.
  • Online booking and payment for cinema, bus and event tickets.
  • Credit card Payment
  • Payment of Utility Bills
  • Payment of School Fee
  • Insurance Payment
  • Investments Payment
  • Internet Bills Payment
  • Internet Shopping
  • Manage Payee or Biller

Now let’s discuss 4 different types of bank accounts you can open at Allied bank:

  • Current account
  • Savings account
  • Allied Rising Star
  • Allied Asaan account

Current Account:

If you want to know how to open a current bank account in Allied Bank that fulfils all of your banking needs as an individual or as an organization, you need to follow the simple steps mentioned below:

Applying for a current bank account is quite easy, all you need to have are the required documents based on the type of individual you are.

2 types of individuals can apply for a current account:

  • Salaried worker (Age limit: 18 to 70 years old.)
  • Business owner (Age limit: 18 to 70 years old.)

Salaried worker:
Being a working individual who wants to know how to open a current account in Allied Bank, you need to have the following documents:

  • CNIC
  • Proof of employment (through an employment verification letter).
  • Evidence in the form of documented copies of your utility bills.

Business owner:
If you want to know to open a Bank account in Allied Bank as a Business owner, you need to provide the bank with the following personal records:

  • CNIC
  • Proof of business.

With the information of the documents needed on how to open a Bank account in Allied Bank being cleared, it is also important to mention that along with these documents, individuals applying for a current account also need to submit a minimum fee of 1,000 PKR.

There is however no need for the maintenance of a minimum balance to avoid tax deduction.

Features of Current Account:

  • Free ATM card and first cheque book
  • Internet banking facility
  • Unlimited withdrawals and deposits every month.
  • No requirements on maintaining a minimum monthly balance.

Savings Account:

Opening a savings account at Allied Bank is much similar to opening a current account, 2 types of people can apply for this account.

  • Salaried worker (Age limit: 21 to 60 years old.)
  • Business owner (Age limit: 21 to 65 years old.)

Salaried worker:
Being a working individual who wants to know how to open a current account in Allied Bank, you need to have the following documents:

  • CNIC
  • Proof of employment (through an employment verification letter)
  • Documented copies of your utility bills.

Business owner:
If you want to know to open a bank account in Allied Bank as a Business owner, you need to provide the bank with the following personal records:

  • CNIC
  • Proof of business

After the provision of these documents, you’ll also need to pay a minimum fee of 1000 PKR for account opening, however, no minimum account balance is required for account maintenance.

The Allied Bank savings account has an annual equivalence rate(AER)/ interest rate of up to 8%.

Features of Savings account:

  • Profit calculated on monthly average balance.
  • SMS alerts on transactions.
  • Free withdrawals and deposits up to 500,000 PKR.
  • Profit payment on monthly basis.

Allied Rising Star:

Allied bank has also introduced its young savers account for little kids called the Allied Rising Star(for children below the age of 18). Allied bank explains that this will help the youngsters to save money and later on give them an option to buy their favourite books or eat their favourite food from their savings.

Features of Allied bank Rising Star:

  • Signatures of users.
  • Taking cash out from the ATM or the Bank.
  • General banking activities.
  • Use your account any time, meaning you can take money out with your parent’s or guardian’s help, or deposit money yourself, whenever you need to
  • You will have 2 accounts when you become an Allied Rising Star. One is the Main Account, for savings and the second is the Wallet Account, in which profit is collected
  • A single debit transaction is restricted to 100,000 PKR in ARS accounts.

More than 30000 children across the country are users of Allied bank Rising star, so if you feel interested in opening one for yourself, head onto your nearest Allied bank branch with your parents to apply.

Allied Asaan Account:

Applying for an account is usually an exhausting activity, requiring a lot of documents to be delivered to the bank and a tiresome verification process.

To deal with this issue, try applying for an Asaan Account. Allied Asaan Account can be opened with a minimal fee of 100 PKR and the only required document for application is the individual’s CNIC.

Features of Asaan account:

  • Asaan Account has 2 variants i.e. it can be opened as a Current or Savings Account.
  • Only CNIC required for account opening
  • No minimum balance requirement.
  • No account maintenance/service charges.
  • Allied SMS Banking.
  • Allied PayPak Debit Card.
  • Free first Cheque Book of 10 leaves.
  • Internet Banking Facility.

So, if you wish to apply, visit your nearest Allied Bank branch to open your Asaan Account with only your ID card (CNIC).

Not convinced? Here is a complete list of all Pakistani banks where you can open your accounts:

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