Faysal Bank has introduced an attractive new auto insurance offering in collaboration with Jubilee General Takaful, aiming to make Shariah-compliant car coverage more accessible and affordable for its Noor Islamic banking customers. The initiative, launched under the banner of Jubilee Takaful Secure Drive, is targeted specifically at Noor Credit Card holders and features a notably reduced contribution rate of just 1.5 percent under the Silver Plan. This limited-time promotion will be available until October 31, 2025.
Designed to cater to customers seeking ethical financial products in line with Islamic principles, the Jubilee Takaful Secure Drive plan brings together comprehensive motor insurance protection with ease of payment and minimal paperwork. The insurance plan is being distributed directly by Faysal Bank on behalf of Jubilee General, streamlining the process for interested applicants.
According to details shared by the bank, the Secure Drive policy offers full coverage against a range of risks including accidental damage or loss, third-party liabilities, theft, fire, natural calamities, and civil disturbances. This broad protection makes it an appealing choice for car owners looking to safeguard their vehicles in Pakistan’s dynamic environment.
To ensure alignment with Islamic banking practices, the plan has been structured as a Shariah-compliant Takaful product. This approach pools contributions from participants into a mutual fund used to compensate members in the event of loss, adhering to cooperative risk-sharing principles.
Eligibility for the Secure Drive insurance is exclusively tied to holders of the Noor Credit Card, Faysal Bank’s flagship Islamic credit product. Additionally, the insured vehicle must be registered in the name of the cardholder or a close family member, reinforcing direct ownership criteria under the plan’s guidelines.
For added convenience, customers can distribute their contribution payments over six equal monthly installments, easing the financial burden of upfront costs. While both Silver and Gold coverage options are available, the current highlight is the Silver Plan’s limited-time contribution rate of 1.5 percent of the insured vehicle’s value, a significant reduction compared to typical market rates.
The promotion does, however, come with standard terms and conditions, and all applications are subject to underwriting approvals as per Jubilee General’s established criteria.
Faysal Bank is actively promoting this partnership through its digital channels and customer support teams. Interested individuals can apply via the official website or seek assistance by calling the customer service center at (021) 111 06 06 06. The bank has emphasized the quick processing times and minimal documentation requirements, aiming to deliver a seamless experience for applicants.
This new offering underscores Faysal Bank’s continued efforts to expand its suite of Islamic banking and insurance solutions, aligning with customer demand for ethical financial products that combine robust protection with flexibility. It also reflects the growing collaboration between Islamic financial institutions and dedicated Takaful operators in Pakistan, as they work to deepen the penetration of Shariah-compliant products across different segments of the market.
With this latest move, Faysal Bank and Jubilee General Takaful are setting a fresh benchmark in accessible, faith-based auto coverage, while providing Noor Credit Card holders an opportunity to secure their vehicles with added peace of mind and financial ease.