List of Best Banks in Pakistan for Car Leasing

Banks are providing commodities to people so as to make their lives much better. There are number of banks in Pakistan that are providing their services to help you out in time of need. These banks are the ones that have made their name over time. The best five banks according to us are:

1. HBL:

• HBL has a facility to provide you with the insurance which is very good for those who are at loss of any kind. It is one way to secure your future.
• Eh leased amount is returnable up to seven years duration which quite a long time but for low earners the perfect way to settle themselves.
• HBL finances person leasing car up to 85% of your own choice.
• The eligibility criteria of the bank is very low, if you earn 20,000PKR per month even then you are eligible to apply unlike many other banks.
• For the low income earners HBL is best choice for leasing the car.

List of Best Banks in Pakistan for Car Leasing

2. Dubai Islamic bank:

• This bank is where you will be able to lease by Sharia compliant manner.
• DIB finances you with five hundred thousand so that you may get your own car.
• The bank is providing you with the facility of advance booking and also ready delivery.

3. Alfalah:

• When you lease car from Alfalah it is very good because you may repay the amount of lease up to five years
• Flexibility or making your own choice of down payment is provided to you.
• The leased car can be changed with the new one in the same amount paid anytime, this way you may enjoy different cars and they all will be yours.

4. Meezan bank:

• Until the contract of the leased car ends the owner has complete ownership of the asset.
• The agreements done according to Shariah law binds the person leasing car to the conditions and liabilities.
• In case you have faced theft of car, Meezan Bank continues to charge lease rent from you until insurance claim gets settled.
• According to Islamic Shariah the penalty of late payment is put in the person.

5. NIB bank:

• NIB is one of those banks that have proven it to be one of those that give fastest approval rates around Pakistan.
• You may lease used or new car as per your requirement.
• Life insurance that is provided to you by NIB is up to 500,000PKR.
• Minimum down payment for the lease of car is required which is also based on your choice of payment schedule.

You may opt for the best bank for car leasing according to your choice and needs.

HBL CarLoan

HBL CarLoan makes it easy to purchase your dream car. With up to 7 years to pay off your loan, HBL CarLoan allows you to borrow for the car you desire keeping in mind your budget.​

Benefits

• Choose any type of car - New, used, local or imported car.
• Repay within a 7 year time period (5 years for used car financing).
• Receive up to 85% of financing for your preferred car.
• Secured insurance at all times for peace of mind (with or without tracker option available).
• Take advantage of our 24-hour support available through HBL Phone Banking. HBL PhoneBanking also allows you to track your repayment/loan account status and avail other value-added services.

Eligibility Criteria

Requirements ​	Salaried Individuals​	Self-Employeed Business persons/Professionals
Citizenship	Pakistani	Pakistani
Age	22-60 years	22-70 years
Minimum monthly income	Rs. 20,000	Rs. 25,000

Documents Required

a. Salaried Individuals

• Copy of CNIC.
• 2 recent passport size photographs.
• Latest original salary slip and personal bank statement for last 3 months.

b. Self-Employed Business persons/Professionals

• Copy of CNIC.
• 2 recent passport size photographs.
• Bank statement for last 6 months and bank letter confirming details of account.
• Proof of business.

Auto Finance-Faysal Bank

Barkat Auto Finance based on Diminishing Musharakah

Barkat Auto Finance is based on Diminishing Musharakah, where you participate with Barkat Islamic Banking in a joint ownership of your vehicle and the Bank provides a certain amount of financing. You agree to a monthly payment to the Bank of which one component is rent for use of the vehicle, and the other is for you to increase your ownership of the vehicle. Once you have made the full payment, which has been agreed upon, you become the sole owner with a free and clear title to the vehicle.

Product Features & Benefits

• Avail the financing of new, used and imported vehicle for personal use
• Quick processing with minimum documentation
• No Limit on financing amount starts from as low as Rs. 100,000 and minimum equity requirement of as low as 20%
• Multiple options for tenure up to 5 years
• Installment repayment to start ONLY after delivery of the vehicle and no processing fee until approval of financing
• Built-in Takaful (Islamic Insurance) expense for the entire financing tenure. The bank will arrange Takaful for the vehicle from a reputable Takaful company and will facilitate you in claim processing
• Maximum safety of your vehicle ensured through the tracker installation.

Alfalah Home Finance

Unlock the door to a home that’s unique to you. There’s a wide range of home nance solutions available for you at Bank Alfalah. So whether you want to buy, build or renovate your space, there’s something specific available just for you.

 

Alfalah Home Buyer

Acquire a home that suits you

• Financing of up to 70% of the value of the property

• Payment tenure options from 3 to 20 years

 

Alfalah Build Your Home

Get financing to construct your home on an empty plot

• Financing of up to 100% of the construction cost

• Payment tenure option from 3 to 20 years

 

Alfalah Plot and Build

Choose your plot. Build your home

• Financing up to 70% of the value of constructed home

• Payment tenure option from 3 to 20 years

 

Alfalah Home Improvement

Renovate or expand your existing home

• Financing of up to Rs. 3.5 million or 40% of the surveyed

value of your home (whichever is lower)

 

• Payment tenure options from 3 to 20 years

 

Alfalah Home BTF

Repaying your home finance has never been simpler

• Transfer up to 100% of the existing finance

• Payment tenure options from 3 to 20 years

 

 Installment Calculator

Property Option
Current Property/Completion Value (per valuation)	Rs.
Building Value (in case of house)	Rs.
Financing (Bank’s participation)	Rs.
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Mark-Up Rate Options*Variable Rate: 1 Year KIBOR + 3.5% for Salaried person and 1 Year KIBOR + 4.5% for Business People / Self-employed and Overseas Pakistani (both salaried and self-employed)	%
Total Monthly Approx. Installment.	Rs.
Note: The above mentioned installment does not include Life Insurance & Property Insurance. It will be added separately.

*Rate shall be reviewed on yearly basis on each anniversary of finance by taking into account the then prevailing KIBOR. Schedule of Charges

Eligibility

• You are a Pakistani National Identity Card Holder
• Age at the time of application between 23 years to 55 years at the time of application, subject to maximum age of 60 for salaried and 65 for other types of customers, at the time of maturity of finance.
• Minimum take home income of Rs 50,000- per month from all sources.
• The financing amount is at least Rs.2 million (Rs. 20 lacs) or above.
• If you are a non-resident salaried individual you must earn a minimum gross monthly verifiable income equivalent to USD 5,000.
• You must be a permanent employee, currently employed with total employment experience of at least 2 years.
• If you are a professional contractual employees (bankers, engineers, doctors, architect etc), you must be currently employed with total employment experience of at least 3 years.
• If you are self employed with a stream of income generated from property rent/return on fixed deposit /DSC/SSC, you must have had the source of income for at least last 6 months.
• If you are a businessman, you must be running a business for at least 5 years with a satisfactory track record of either an individually owned or a family business.
• The property you want to mortgage should be located in Karachi, Lahore, Rawalpindi or Islamabad.

Finance Eligibility

Documents Required

Mark-Up Rate Structure

Insurance

Process flow of application

Repayments

Frequently Asked Questions

Contact us

Eligibility for Expatriate Pakistanis

Non-Resident Pakistanis

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Alfalah Auto Loan

Be in the driver’s seat when buying the perfect car. Alfalah Auto Loan lets you control your payment plan.

• Residual Value option to lower your instalment
• Option to defer insurance and Registration charges
• Zero charges on Car Replacement option
• Quick loan processing

Basic Features and Benefits

• You can choose a car that is new, used or imported
• Affordable markup rates to choose from-fixed and variable
• Minimum documentation and hassle free quick processing
• Financing available up to 7 years tenure
• Enjoy special comprehensive insurance rates
• Zero charges on Car Replacement
• Balloon payment option

Product offerings

Residual Value (RV) Product

Under RV product, Bank Alfalah provides convenience to its customers to pay a lump sum balloon payment (up to 50% of Financing Value) at the end of the financing tenure for increased affordability and convenience of repayments.

This product variant provides convenience to customers to own one of the below mentioned vehicles on lowest possible installments.

Toyota (Brands – Corolla, Hilux, and Fortuner)

Honda (Brands – City and Civic)

Suzuki (Brands – Cultus, Swift and WagonR)

Available for the residents of Islamabad, Lahore, Multan, Faisalabad and Karachi only.

Deferred Insurance & Registration

Bank Alfalah is pioneer Bank to offer Deferred Insurance and Registration product. Through this offering, Bank facilitates its customers to pay Insurance and Registration Charges in installments during the tenor of the financing/leasing instead of upfront in down payment. Hence lowest possible down payment increase customer’s affordability and also facilitates customers in owning a high value/bigger vehicle.

Vehicle Replacement Option

Under this option, Customers can easily purchase new vehicle and adjust their vehicles with a new vehicle without any pre adjustment penalty.

Option for Fixed and Variable rate

Bank Alfalah provides its Customer with an option to choose fixed or variable rate of financing/leasing.

Option for Balloon Payment

Bank Alfalah offers its customers to lower their installments by adjusting their principal with a balloon payment twice in tenure of the loan. Each balloon payment equals to 6 equal monthly installments.

Instalment Calculator

Total Value	Rs.
Down Payment	Rs.
Financing (Bank’s participation)	Rs.
Total Financing Tenure	12 Months 24 Months 36 Months 48 Months 60 Months 72 Months 84 Months
Mark-Up Rate Options
Click here to see the current mark-up rates	%
Equal Monthly Installment (approximately) without Insurance	Rs.

Note: Insurance will be calculated separately.

Documents Required

Eligibility

Markup Rates

Schedule of Charges

Frequently Asked Questions

Apply Now

District and Sessions Courts of Sindh (Recruitment Test)
NOTE: 1) The candidates who are otherwise eligible but shown ineligible due to objections for want of necessary documents etc. as mentioned against their names in the column of “Objection” in this list are required to remove the objection(s) on or before 10.08.2016 during office hours, to become eligible.