Car Loans

• Kisa Fatima UE-16003

• Ayesha Iqbal UE-16005
• Mishal Akhtar UE-16009
• Syeda Aliza Hasan UE-16012
 Loans
• a sum of money that is expected to be paid back with
interest.
• The lender—usually a corporation, financial
institution, or government; advances a sum of money
to the borrower. 
• the borrower agrees to a certain set of terms
including any finance charges, interest, repayment
date, and other conditions
 Car Loan
This is a medium and long term financing product,
where the Bank and the customer jointly purchase
an asset and create joint ownership in the asset.
The Bank rent out its share in the asset to the
customer while the customer periodically
purchases units of ownership in the asset from the
Bank. After purchase of all the units, the customer
becomes the sole owner of the asset.
 Types of Car Loans
1. Secured Auto Loan.
2. Unsecured Auto Loan.
3. New and Used Car loan.
4. Private Party Loan.
5. Lease Buyout.
6. Direct Financing Loan.
7. Indirect Financing Loan.
8. In-house Finance Loan.
 Advantages of Car Loan
1.Future savings.
2.No collateral needed.
3.Great for credit history.
4.Increased value.
5.Improved budgeting.
 Habib bank limited
Eligibility criteria
•  Applicant must be a citizen
of Pakistan.
• Applicant to be 22 years or
more at the time of
application and 60 years of
retirement age whichever is
less at the time of  maturity. • For business persons, bank
• Minimum monthly income
should be PKR 20,000.
Documentation
• Original copy of CNIC along with
verified copy
• Two recent passport size
photographs
• Latest original salary slip and
personal bank statement for last
3 months
statement for last 6 months and
bank letter confirming details of
account is required too.
 Allied bank
Eligibility criteria
• Must be a Pakistani national
• Maintaining salary account
with ABL for at least six
months
• Net monthly salary is
Rs.40,000/- or more
• Your length of employment
with current employer is
minimum 03 years.
• Must be 21 to 59 years old
Documentation
• Last 06 months’ Bank Statement
• Copy of CNIC/NICOP/ Smart NIC
• 2 recent passport size
photographs
• Last two months’ Salary Slip or
Salary Certificate, clearly
indicating gross and net salary
with details of all deductions
• Complete and duly signed
“Application Form” with signature
verification from branch.
 Faysal bank
Eligibility criteria
• Must be Pakistani nationalist.
• Salaried: Minimum PKR 30,000
• Contractual: Minimum PKR
50,000
• SEB/SEP: Minimum PKR
40,000
• Age Limit: Salaried (Min 21
Years and Max 65 Years at the
time maturity)
SEB/SEP (Min 21 Year and Max
70 Years at the time of
maturity)
Documentation
• Application Form properly filled
and signed by customer
• Current Salary Slip
• Clear and Visible Copy of CNIC
• 2 Recent Photograph (passport
size)
• SBP undertaking properly filled
and signed by customer
• 6 Month’s Bank Statement, Where
Salary Credits (Original / stamped
& signed by bank)
• Employment Certificate
• Copy of Latest Utility Bill
Thank you!