Pakistan’s Premier Islamic Bank: Meezan Bank, with over 800 branches nationwide, is a trusted name offering Shariah-compliant financial services.
What you need to know about this loan:
- Loan Amounts Offered: Up to 10 million PKR for new locally assembled and imported vehicles.
- Loan Terms (Monthly): Options from 1 to 5 years.
- Payment Methods: Direct debit from PKR Roshan Digital Account.
- Interest Rate: Fixed profit rates from 16.50% to 22.26%, variable rate at 24.49%.
Pros:
- Lowest Upfront Payment: Minimize initial costs and maximize your budget.
- Quick Processing Time: Fast approval times to get you behind the wheel quicker.
- No Processing Charges: Benefit with zero processing fees adding more savings.
- Comprehensive Takaful Coverage: Secure your vehicle with Islamic-compliant insurance.
- Flexible Financing Tenure: Choose from up to 7 years, suiting your financial needs.
Cons:
- Minimum Security Deposit: Starting at 15% to 35% of the vehicle cost.
- Non-Filer Tax: 4% advance tax applicable at vehicle disbursement for non-filers.
Why Choose Meezan Bank for Your Loan?
Meezan Bank vs. HBL Car Loan: While HBL provides competitive rates, Meezan Bank’s riba-free option is a distinct advantage.
Meezan Bank vs. UBL Auto Financing: Though UBL has a streamlined process, Meezan Bank offers ethical and Shariah-compliant financing.
Meezan Bank vs. Bank Alfalah Auto Lease: Bank Alfalah’s coverage is extensive, but cannot match the religious adherence of Meezan Bank.
Meezan Bank vs. MCB Car Loan: Meezan Bank offers flexible repayment terms and lower upfront costs, making it superior to MCB.
Meezan Bank vs. Faysal Bank Auto Loan: Faysal Bank has good service, but Meezan Bank’s competitive profit rates and Shariah compliance make it the better choice.
How to Apply for Your Meezan Car Ijarah
Applying is simple and fast. Click here to start your journey with Meezan Car Ijarah, Pakistan’s first interest-free car financing. Drive your dream car today!