The table below compares key features such as interest rates, loan tenure, down payment requirements, special features, processing fees, and eligibility criteria across major banks.
This comparison will help you identify the best bank for your car financing needs, ensuring you get the most favorable terms and conditions.
Here’s a comparison table of the best banks for car financing in Pakistan based on the content provided and general knowledge about car financing options:
| Bank | Interest Rate (Approx) | Loan Tenure | Down Payment Requirement | Special Features | Eligibility Criteria |
|---|---|---|---|---|---|
| HBL (Habib Bank Limited) | 9-12% p.a. | 1 to 7 years | 15-20% of car’s value | Flexible repayment options, competitive rates | Pakistani residents, salaried or self-employed individuals |
| UBL (United Bank Limited) | 10-13% p.a. | 1 to 7 years | 15-30% of car’s value | Quick processing, a wide range of cars | Age 21-65 years, stable income source |
| MCB (Muslim Commercial Bank) | 11-14% p.a. | 1 to 5 years | 20-30% of car’s value | Comprehensive insurance coverage | Pakistani nationals, steady employment/income |
| Bank Alfalah | 10-12% p.a. | 1 to 5 years | 20-25% of car’s value | Easy documentation, fast approval | Pakistani residents, age 21-65 years |
| Standard Chartered | 9-11% p.a. | 1 to 7 years | 15-20% of car’s value | Lower processing fee, attractive rates | Salaried or self-employed with stable income |
| Faysal Bank | 11-13% p.a. | 1 to 7 years | 15-25% of car’s value | Shariah-compliant (Islamic banking) | Age 21-60 years, consistent income source |
| Meezan Bank | 10-12% p.a. | 1 to 5 years | 20-30% of car’s value | Shariah-compliant (Islamic banking), easy installments | Pakistani residents, salaried or businesspersons |
| Askari Bank | 10-13% p.a. | 1 to 5 years | 15-25% of car’s value | Competitive rates, quick disbursement | Salaried individuals, business owners |
| National Bank of Pakistan (NBP) | 10-13% p.a. | 1 to 5 years | 20-30% of car’s value | Available to government employees, competitive rates | Pakistani nationals, especially government employees |
| Allied Bank | 10-13% p.a. | 1 to 5 years | 20-30% of car’s value | Flexible terms, comprehensive insurance | Age 21-65 years, stable employment/income |
Recommended Readings:
List Of Instant Loan Apps In Pakistan [SECP Registered]
Best Loan Apps In Pakistan | Top Loan Apps In Pakistan
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