National Bank introduced Islamic Car Loans in Pakistan. National Bank launched AitemaadHamsafar Auto Finance Scheme. The scheme lets you get a loan of up to Rs. 500,000 and Rs. 15. million to buy the car you want.
Two options are offered to the customer
1.) A customer may get money through National Bank to purchase an automobile from any company.
2.) A customer can purchase the car from National Bank by registering the vehicle.
National Bank can take male and female customers for brand new and pre-owned cars.
A buyer should not own an older vehicle than nine years when looking to buy a used car.
- The person who would like to purchase a car of 1000cc has to pay back the loan within between one and seven years with monthly installments.
- The customer has to pay back the loan within five to one year if the plan is to buy an entirely new car.
- Customer Equity as Shares
- Customers must pay 15% if they wish to buy one thousand cc vehicles.
- The buyer must pay at least 30% of the cost if they plan to purchase the car for more than 1 000 Ccs.
NBP Car Loan with No Amount of Interest
Criteria to be Eligible
1.) Pakistani nationals who possess an identification card.
2.) All females and males
3.) Salary and business
4.) Pakistani Overseas
5) The age minimum for salaried employees must be between 21 and 60.
6.) between the age of 21 to 65, self-employed or businessmen
7.) A salaried employee should have a minimum wage of Rs. 50,000
8.) The monthly earnings of a businessperson are not to exceed the amount of Rs. 4 lakhs.
9.) A salaried worker has been working for a year
10) A person who is a businessperson should have at the very least two years of work experience
Car Loan requirements Loan
- The minimum age for an individual seeking a salary can be between the ages of 21- 60.
- Age shouldn’t be a reason to avoid self-employment for those in business.
- Monthly income requirements for car Loan
- The monthly income of a Salary Person must not exceed 50000
- The income per month of a salaried or business person must not exceed 400000.
- Since the date of the pay-day of the salaried worker has already been one whole year.
- Two years of experience is the minimum requirement for people working in the business.
- Furthermore, workers from overseas should be able to demonstrate at least two years of work experience.
- The documents should be readily available to the customer whenever they bring his vehicle into the National Bank.
- A copy of the national ID card.
- Two pictures passport size.
- Three months of slippage in salary
- Statement of bank transactions for the six months
- A copy of the bill for electricity
- A copy of the telephone bill If it is available.
How is the repayment of the loan expected to be?
- Mahanainstallment will refund the total money to National Bank if a customer would like to purchase a car up to 1000cc.
- One customer might decide to buy a new car.
- All loans have to be paid back to National Bank within 1-5 years.
- What will the customer pay for an automobile?
- What is the minimum down amount? If the buyer wants to purchase a vehicle with up to 1000cc capacity, at least 15% of the amount will be paid.
- If he wants to buy an automobile with more than 1000cc of capacity, he will be required to contribute 30 percent of the amount.
Documents Required for NBP Car Loan
- A duplicate of the ID card you have.
- Two photographs
- Salary slip/emulation document
- Six months bank statement
- A photocopy of the electricity bill
- Business prof
How do I apply?
Anyone interested in this service may go to any of the branches at National Bank Trust nearby and fill out the application.