Bank Islamic Car Finance
Bank Islamic Auto Finance offers the convinience to get any car of your choice with following features and benefits.
Features and Benefits
Car Type
Auto Financing facility is applicable for new and used vehicles
Flexible Rates
Pay an ideal amount of down payment and monthly instalment
Processing Charges
Documentation and processing fees for financing is upto Rs. 3 million
Minimum Documentation
Clear and precise documentation required for submission
Monthly Instalment Plan
Financing period is available for up to 5 years.
Financing Tenure
1-5 years (for vehicles up to 1000 cc engine capacity) 1-3 years (for vehicles above 1000 cc engine capacity)
Customer Equity
Minimum 30% to Maximum 90% only
Termination Charges
No termination charges on car replacement
Tracker
Installation of a tracker is mandatory for all vehicles by BankIslami Pakistan Ltd.
Car Loan Calculator
Popular Car Financed with Bank Islamic
On March 31, 2005, the first bank to be granted an Islamic banking licence under the 2003 Islamic Banking Policy was BankIslami Pakistan Limited. Along with Shariah-compliant retail banking products, proprietary and third-party products, and integrated financial planning services, the Bank planned to prioritise Wealth Management as its primary area of operation. Currently, BankIslami has 340+ branches in123 cities all over Pakistan. Jahangir Siddiqui & Company Limited and the Randeree family came up with the revolutionary idea for BankIslami in late 2003. On March 16, 2004, Mr Hasan A. Bilgrami was chosen to serve as the sponsors' advisor. On March 24, 2004, he presented the BankIslami concept paper to sponsors. After that, a thorough business plan was created, and on May 26, 2004, a formal application was made to the State Bank of Pakistan. Dubai Bank invested 18.75% of the total Capital on September 26, 2005, joining the Sponsors and becoming one of the original shareholders of BankIslami.