Soneri Bank has partnered with MG Motors Pakistan to introduce one of the most attractive auto financing offers currently available in the market. The collaboration brings forward a package designed to make premium vehicles more accessible to customers by combining affordability, convenience, and innovation.
The newly launched scheme offers financing rates starting from 1-Year KIBOR + 2%, positioning it as a highly competitive option for both conventional and Islamic financing customers. This dual availability highlights the flexibility of the program, enabling a broader base of customers to avail financing tailored to their financial preferences.
In addition to favorable financing terms, the package includes an insurance rate of just 1.5% with tracker, making vehicle ownership more cost-efficient. Customers will also benefit from a complete waiver on processing fees and will not be subjected to penalties for early settlement or balloon payments. These terms significantly reduce the overall cost of financing, setting a benchmark for customer-focused auto finance solutions in Pakistan.
The scheme currently applies to select MG models, including the MG HS and the MG HS Plug-in Hybrid Electric Vehicle (PHEV). Both vehicles are known for their premium design, advanced technology, and eco-friendly features. The inclusion of the hybrid variant reflects growing consumer interest in sustainable mobility and aligns with broader trends in the automotive industry toward environmentally responsible solutions.
Commenting on the initiative, Syed Asif Ahmed, General Manager of the Marketing Division at MG Motors Pakistan, emphasized the strategic importance of this collaboration. “This partnership with Soneri Bank further strengthens our vision of making premium mobility accessible for more people in Pakistan. Customers now have the opportunity to enjoy MG’s cutting-edge technology and eco-friendly vehicles, while benefiting from the industry’s lowest financing rates in a fully Shariah-compliant manner. It’s a win-win for innovation, affordability, and customer convenience,” he stated.
Industry observers note that the automotive financing space in Pakistan is becoming increasingly competitive, with banks and automakers collaborating to create financing options that meet the needs of a diverse customer base. Rising interest in hybrid and electric vehicles, combined with growing demand for flexible Shariah-compliant financial products, is pushing institutions to rethink how they structure consumer financing.
For Soneri Bank, the collaboration underlines its commitment to providing financial solutions that go beyond traditional banking services, tapping into lifestyle segments that resonate with evolving consumer priorities. By linking financial access to mobility solutions, the bank is positioning itself as a key player in driving financial inclusion and customer-centric innovation.
MG Motors, on the other hand, continues to expand its footprint in the Pakistani market by aligning with partners that share its vision of delivering high-quality vehicles with accessible ownership models. The company’s decision to include the MG HS PHEV reflects its forward-looking strategy of catering to environmentally conscious consumers while strengthening its presence in the premium vehicle category.
The partnership between Soneri Bank and MG Motors comes at a time when affordability and convenience are critical factors in consumer decision-making. With financing rates tied to market benchmarks, low insurance costs, and complete waivers on additional fees, the package is expected to appeal to a wide range of potential buyers. Analysts believe the move will not only boost MG’s sales in Pakistan but also enhance Soneri Bank’s visibility in the retail banking sector, particularly in auto financing.
Looking ahead, such collaborations are likely to play a central role in shaping Pakistan’s automotive financing ecosystem, offering consumers greater flexibility, competitive rates, and the opportunity to adopt environmentally friendly mobility solutions. The initiative by Soneri Bank and MG Motors sets a new precedent for partnerships that merge financial innovation with customer lifestyle needs.