Bank Alfalah offers State Bank of Pakistan’s Refinance Scheme to support businesses to continue payment of wages and salaries to their workers and employees in the aftermath of the COVID-19 outbreak.
The refinance scheme will ease cash flow constraints of employers for timely payment of wages and salaries to workers and employees.
Offer available to:
- Existing payroll clients who also maintain a lending relationship with Bank Alfalah
- Existing payroll clients who do not maintain a lending relationship with Bank Alfalah
- Clients who maintain a lending relationship but are not availing payroll services with Bank Alfalah
- Existing and potential clients who do not maintain either payroll or lending relationship with Bank Alfalah
Features of Refinance Facility:
| Category | Wage Bill for 3 months | Loan Limit | Maximum Loan Limit |
|---|---|---|---|
| A | Less than or equal to Rs. 500 million | 100% of actual 3 months wage bill | Rs. 500 M |
| B | More than Rs. 500 million | Rs. 500 million or 75% of 3 months wage bill, whichever is higher | Rs. 1000 M |
- End-user markup rate: Up to 5%
- Loan repayment: Starts from January 2021 after disbursement period of three months followed by maximum grace period of six months
- Repayment of loan: Principal amount will be made in 8 equal quarterly installments
- Validity of this facility: June 30, 2020
To apply, please reach out to your respective branch/business unit. For further information, email us at BAW@bankalfalah.com
Availability of this line is subject to credit assessment and final approval
