As Eid approaches, several banks in Pakistan are offering attractive car financing schemes, making it easier for individuals to buy new or used vehicles. Among the leading institutions rolling out these customer-friendly initiatives are Bank AL Habib and Dubai Islamic Bank, both offering tailored plans with flexible terms and special features in line with the festive season’s spending needs.
Bank AL Habib has introduced its “Apni Car” auto financing solution, a well-structured offering designed for both new and used, locally assembled vehicles. This initiative provides an opportunity for customers to finance small cars up to 1000cc for up to five years, while vehicles above that engine capacity are eligible for financing terms of up to three years.
One of the notable features of Bank AL Habib’s plan is the flexibility of choosing between fixed and variable interest rates. This enables customers to pick the repayment structure that best aligns with their financial planning. Additionally, partial and early payments are allowed without excessive penalties, giving borrowers more control over their loan management and enabling faster settlement of dues if desired.
The eligibility criteria for Bank AL Habib’s Apni Car plan are straightforward. Applicants must be Pakistani citizens aged between 23 and 60 years, while self-employed individuals are allowed up to 65 years. Proof of stable income, such as salary slips, rental income documentation, or foreign remittance statements, is required, along with an active bank account.
On the other hand, Dubai Islamic Bank is offering a fully Shariah-compliant car financing solution, aimed at customers seeking fixed-rate loans under Islamic financial principles. With a competitive fixed markup rate of 14.7 percent, this offer is applicable to both new and used vehicles, with loan terms ranging from one to three years. Financing is available up to 70 percent of the vehicle’s value, covering amounts from Rs. 150,000 to Rs. 3 million.
Dubai Islamic Bank’s offering includes several value-added features such as eligibility for cars up to nine years old, flexible tenure from one to five years, income clubbing for joint applications, and the added advantage of no payment required prior to car delivery in booking scenarios.
To qualify, salaried individuals must have a minimum monthly income of Rs. 25,000 and at least three months of employment history. Self-employed professionals require six months of practice, and business owners need to show one year of stable operations. All applicants must provide necessary documentation including CNIC, two passport-sized photos, recent salary slips or income proof, and six months of bank statements. Co-applicant documentation is required in cases of joint financing.
These Eid-centric offers highlight the banking sector’s push to enhance financial accessibility, especially for middle-income earners looking to secure reliable transportation. Whether customers seek Islamic financing principles or conventional options with flexible terms, both Bank AL Habib and Dubai Islamic Bank are addressing a wide range of financial needs with these limited-time offers.
As Pakistan’s automotive market gradually recovers and consumer demand picks up during festive periods, such financing schemes are poised to play a critical role in boosting vehicle ownership and supporting economic activity across related sectors.