Top 5 Banks for Car Loan in Pakistan – Car Finance

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To have a car is a dream of every single person. But due financial problems most of us cannot afford to buy a car. This problem is now solved by the banks which provide the lowest interests rates on buying any car of your dream. Some of the best banks which provide this facility of car loan at lowest interest are as follow.

Dubai Islamic Bank (Car Loan)

Dubai Islamic Bank is known as the No 1 car financing bank in Pakistan. It has the lowest markup and lowest installment rates. The loan is provided according to the Sharia. The bank claims to offer the best auto finance solution. They have excellent payment plans ranging from one year to seven years.

They provide minimum finance of Rupees 100,000 (1 lac) to the maximum financing of 50,00,000 (50 lac) rupees. The bank deals in the new, reconditioned, second hand and as well as in imported cars.

Faysal Bank

Faysal bank is considered the second best bank to provide the auto financing facility. It provides the easily customized conditions to fit your unique needs and requirement. Anyone can finance the car up to five years on easy monthly installments.

Bank Alfalah

Bank Alfalah is considered as the third best option for the auto financing service. They have low and fixed markup with reasonable installment. The bank deals in the new, and as well as in imported cars. One of the best features is that they have the down payment flexibility in the auto financing system.

Askari Bank

Askari bank provides the auto financing service termed as Ask4Car. The bank deals in new cars as well as used cars. The bank provides 15% to 60% finance on the cars and 30% to 60% on the used one. The allowed manufacturers of used cars are Suzuki, Honda, Toyota, and Hyundai.

The Bank of Punjab

The Bank of Punjab’s auto financing service is known as CARGAR. The bank promises its customers minimum documentation and flexible installment methods to meet the customers need. It has comprehensive insurance with the rate of 3.50%.