Key Features

• Finance new and used vehicles for personal use.
• Payment tenure ranging - 1 to 5 years (vehicles up to 1000cc) - 1 to 3 years (vehicles above 1000cc).
• Comprehensive Takaful arrangement through business partners on the HBL panel.
• Initiation of rentals only after delivery of the vehicle to the customer.
• Quick processing with minimum documentation.
• Option for partial payment.
• Option for early termination of the facility.

Criteria

SALARIED INDIVIDUALS:

• The applicant must be a Pakistani citizen.
• The minimum age is 22 years for booking cases, and the maximum is 59 years or retirement age, whichever is lower (at maturity).
• For ready/used car cases, the minimum age is 22 years and the maximum 60 years or retirement age, whichever is lower (at maturity).
• The minimum monthly income is PKR 20,000.

SELF-EMPLOYED BUSINESS PERSONS/PROFESSIONALS TO PROVIDE:

• The applicant must be a Pakistani citizen.
• The minimum age is 22 years for booking cases, and the maximum is 69 years (at maturity).
• For ready/used car cases, the minimum age is 22 years, and the maximum is 70 years (at maturity).
• The minimum monthly income is PKR 25,000.

How to apply

SALARIED INDIVIDUALS TO PROVIDE:

• Copy of valid CNIC is required.
• Two recent passport-size photographs.
• The latest original or copy of the salary slip is required.
• Other documents as per bank policy.

SELF-EMPLOYED BUSINESS PERSONS/PROFESSIONALS TO PROVIDE:

• Copy of valid CNIC should be attached.
• Two recent passport-size photographs.
• Bank statement for last six months, signed and stamped by Branch Manager and bank letter confirming detail of the account.
• Proof of business.
• Other documents as per bank policy.

Guiding principle

HBL Islamic Car Finance is based on the concept of Diminishing Musharakah. Under this arrangement, the bank and customer become joint owners in a vehicle with an agreed investment ratio. ​

The Bank’s shares are divided into units that the customer purchases periodically to become the complete owner of the vehicle. The customer pays agreed rentals for using the bank’s share in the vehicle until the absolute ownership.​

Product Disclosure

All bank charges will apply as per the prevalent Islamic Schedule of Bank Charges.

Terms and conditions apply.