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Allied Bank installment plan: Allied Bank offers flexible and accessible credit card installment plans tailored to meet the financial needs of customers in Pakistan. Whether you’re making large purchases or consolidating debt, these plans allow you to repay in manageable monthly installments with competitive markup rates and convenient terms.
Key Features of Allied Bank Installment Plans
| Feature | Details |
|---|---|
| Card Types | Allied Bank Visa Gold & Platinum |
| Installment Tenure | 3 to 36 months |
| Markup Rate | 0% (with selected merchants) or 2% per month (~24% APR) |
| Grace Period | Up to 50 days (interest-free on retail purchases if paid in full) |
| Processing Fee | Rs. 500 or 2.5% (whichever is higher, if applicable) |
| Minimum Payment | 2% of principal + markup and charges (or full payment if amount ≤ Rs. 500) |
| Supplementary Cards | Up to 2 allowed |
| Global Acceptance | 44 million+ merchant outlets worldwide |
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Types of Allied Bank Installment Plans
1. Buy Now, Pay Later (BNPL)
- Interest-free period of up to 50 days on retail purchases.
- Applicable if the full payment is made by the due date.
- If partial payment is made, markup applies retroactively from the purchase date.
2. Balance Transfer Facility (BTF)
- Convert outstanding balances into equal monthly installments.
- Flat markup of approximately 2% per month (~24% APR).
- Processing fee of Rs. 500 may apply.
- Tenures available from 3 to 36 months.
3. Merchant Installment Plans
- Allied Bank has partnered with various brands to offer 0% or reduced-markup plans.
- Example: Atlas Honda offers up to 6-month plans at 0% markup and up to 36-month plans with minimal charges.
- Ideal for electronics, automobiles, and furniture purchases.
Interest Rates and Fees
| Category | Charges |
|---|---|
| Retail Markup | ~2.83% per month (~34% APR) |
| Cash Advance | ~2.83% per month + Rs. 500 or 3% cash advance fee |
| Balance Transfer | ~2% per month + Rs. 500 processing fee |
| Annual Fee | Gold: Rs. 2,000 / Platinum: Rs. 4,000 (waivers available with usage) |
| Late Payment Fee | Rs. 1,200 |
| Over Limit Charges | Rs. 1,200 |
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Additional Benefits
- Priority Pass Access for Platinum cardholders (airport lounges).
- Supplementary Cards available for family members.
- Free SMS Alerts, e-statements, and online banking access.
- Rewards Program: Earn points on every transaction and redeem on airline tickets, shopping, and more.
Eligibility Criteria
| Requirement | Details |
|---|---|
| Age | 21–60 years (salaried), up to 65 (self-employed) |
| Income Proof | Required (salary slip or business income proof) |
| Documentation | CNIC, proof of income, bank statements |
| Employment | Salaried or self-employed (minimum income bracket applies) |
Final Thoughts
Allied Bank’s credit card installment plans offer excellent value for customers who want flexible payment solutions. With competitive markup rates, installments up to 36 months, and merchant-specific 0% deals, it’s a smart choice for planned or emergency expenses. Always review terms and calculate your total payable amount before opting into an installment plan. Stay updated with: Bloom Pakistan
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