Which Bank offer car on installments in Pakistan?
Drive your dream car home with flexible installment plans from top Pakistani banks
The dream of owning a car is now possible in Pakistan with the help of installments, where many banks are providing car financing schemes both as Islamic and Conventional Banking.
Here are the details of the banks who provide cars on loan
Meezan Bank Car Ijara
Meezan Bank is the Pakistan’s first interest-free car financing. Bank buys the car and rent them to consumers for 1 to 5 years. At the end of the period, the vehicle is sold or gifted to the customer as a sample for a small amount. Bank provides with-holding tax on the purchase of car and security deposit may be upto 30%.
Bank Alfalah Islami
Bank Alfalah also provide car-financing on Islamic principles. Under this scheme, bank provide with-holding tax on car and helps in owning the new or old car. Monthly payment will start with the delivery of the car.
HBL CAR
HBL provides 70% financing for 5 years to its customers. This convinence is available from 2 lakhs to 30 lakhs. BAnk has network of more than 150 dealers from which you can select your future car.
MCB Roshan Apni Car
Roshan Digital Account Holders (RDA), this scheme provides support to buy local cars. The duration of the payment of installments is 7 years and account holders can also nominate their close relatives for this.
Allied Car Finance
Allied Bank provide 70% financing for the duration of 3 years. This scheme has no hidden charges and processing fees will be returned if the application is rejected.
Faysal Islami
Under Faysal Islami Car Finance1000CC cars are available under the period of 5 years installment however more than 1000 CC cars are also avaiable for 3 years financing.
UBL Drive
Under UBL Drive new and old cars are avaiable to buy for local people under 70% financing. The duration of the payment of installments is 5 years for 1000CC cars and for more than this 3 years installment plan is also avaiable.
All these bank provide installment plans for all the customers.
Also read: Al Baraka Bank launches ‘CarSaaz’ with exclusive offers for women and PWDs
