Yes, you can if:

• You are a Pakistani National

You meet the following age criteria:

Salaried Individuals:

• Minimum 21 years to 65 years at the of loan maturity for Private Sector Employees and 60 Years for Government Sector Employees

Self- Employed/Other

• Minimum 21 year to 70 years at the time of loan maturity

You should have income from any of the following sources:

• Employment (Permanent/Contractual)
• Business (Partnership/Proprietorship)
• Co-Borrower’s Income (Clubbing of Income)
• Rental Income
• Agricultural Income
• Remittances from Abroad

Locally Assembled/Manufactured

• New Vehicles
• Used Vehicles
• Semi Commercial Vehicles (New)

Minimum PKR 200,000/- and Maximum PKR *3,000,000/-  for Locally Assembled/Manufactured Vehicles

*As per regulations from State Bank of Pakistan overall auto loan/financing limits availed by one person from all banks/DFIs, in aggregate, shall not exceed PKR 3,000,000/-, at any point in time

Flexible financing tenure

• Minimum 2 years & Maximum 5 Years (Vehicles up to 1000 CC)
• Minimum 2 years & Maximum 3 Years (Vehicles above 1000 CC)

Above 1000CC Locally Assembled/Manufactured

New – Minimum 30% of Vehicle’s Value

Used – Minimum 30% of Vehicle’s Market Value

Upto 1000CC Locally Assembled/Manufactured

New – Minimum 30% of Vehicle’s value

Used – Minimum 30% of Vehicle’s Market value

You have to pay processing fee of PKR 12,000/- (+ Federal Excise Duty @ 16%), registration charges and first year’s insurance premium.

Bank Alfalah has made arrangements with top insurance companies which are offering special low insurance rates for Bank Alfalah clients.

Following modes are available for repayment:

• Direct Debit Instructions (Bank Alfalah Account holders only)
• Deposit the cheque at anyBank Alfalah Branch
• Through ADC (Alternate Delivery Channel)
• Direct deposit of instalment in the repayment account

Yes, you have the option to repay the loan as per the prevailing SOC’s after six months of availing the finance facility.

The car is the security, which will be hypothecated in favor of the bank and lien will be marked with the respective Excise & Taxation Department.

Yes, you can avail the facility with the below mentioned family members and vehicle can be registered in either of the borrowers name or as the case may be.

• Spouse
• Siblings (real brother/real sister)
• Son/Daughter
• Father/Mother

Our representative will discuss in detail the documents you are required to submit. An indicative list is given below:
For All cases

• Complete application form with customers signatures
• Copy of CNIC/NICOP/POC/Smart ID
• SBP undertaking
• 2 recent photographs

Additional documents required as per segment

• Salaried Individual: Salary Slip/Salary Letter, 06 months Bank Statement
• SEB/SEP: 06 months Bank Statement or Income verification report
• Agriculturist: Fard/Mukhtar e Kar/Ownership, Certificate, 06 months Bank Statement or Income verification report
• Rental Income: Rental Agreement (should be valid for next 3 months), Title Document, 06 Months Bank Statement
• Foreign Remittance: Income/Job Proof, Remitter Passport (valid visa for at least 03 months), 06 months Remittance Slips or 06 months Bank Statement of Remittee

• Quickest processing & turnaround time in the market
• Minimum documentation required
• Affordable markup rates to choose from
• No termination charges on car replacement
• Competitive Insurance rates

You can call 111-225-111 to talk to our Phone Banking officer or stopover at your nearest Bank Alfalah branch.
You can also send us an email with your contact details on autoloan@bankalfalah.com and our representative will get in touch with you.