Benefits

Saadiq Auto Finance Features

car help

Financing solution to help you buy your new car.

car loan

Avail financing to buy a used car.

money transfer

Transfer your existing facility from of other banks to SCBPL.

car insurance

Shariah compliant financing solution to help you buy imported car.

money other cash

Finance up to PKR 7.5 million.

money change transfer limit 01

Both fixed and floating options available.

time flexible instalment

Financing available with range of repayment options from 1-7 years.

Auto Finance

Please fill in the following information for an estimation of your repayment amount. The Approximate Monthly Repayment figure for Auto Finance is indicative and is not meant to be final or binding on the Bank. The Bank reserves the right to determine the final rental rate in accordance with applicable laws and amount that can be financed.

Vehicle ValuePlease enter an amount between BWP 100,000 and BWP 5,000,000

      Please enter a duration between 1 year and 25 years only.

      Bank Share

      Financial Years

      %
      years

      Please enter a duration between 3 years and 6 years only.

      Finance Amount Takaful Payment Monthly Payment
      1,400,000 3,000 24,527
      Total Monthly Payment 27,527
      rental rate 11.54%

      Application Eligibility

      • Nationality: Pakistani
      • Cities: Karachi, Lahore, Islamabad/Rawalpindi
      • Age: 21 Years to 60 Years (Salaried) & 65 Years (Self-Employed)
      • Income: PKR 100,000

      Documents Required

      • Copy of Valid CNIC
      • Salary Slip/ Bank Statement*
      • Vehicle Quotation

      • New Vehicles (Locally Manufactured/Imported)
      • Used Vehicles (Locally Manufactured/Imported)
      • Imported Vehicles but Locally Invoiced

      Minimum 15% of the car value is required as customer’s contribution.

      Minimum 1 year and maximum 7 years.

      • Minimum financing is PKR 1MN
      • Maximum financing is PKR 7.5MN

      Both fixed and variable options are offered.

      5 years at the time of application and 7 years at the time of maturity of the facility.

      Yes, you have the option to purchase the bank’s share and pay the amounts as per the prevailing SOC’s after six months of availing the finance facility. However, early settlement 5.5% / amount will be included in the purchase price amount. Further, in case of sales & lease back facility, early purchase cannot be done before one year of the execution of the transaction.

      Customer has undertaken in the facility agreements to pay an amount as charity which will be paid for charitable purposes on customer’s behalf by the Bank as approved by the authorities and Shariah Board of the Bank.

      Takaful is mandatory for all vehicles being financed under this facility. There is a panel of takaful companies offered from which the client can select the takaful provider.

      Auto finance is based on the Islamic structure of “Diminishing Musharakah”. Diminishing Musharakah is a form of co-ownership in which the Bank and customer share the joint ownership of a tangible asset (e.g. car) in an agreed proportion. It is agreed that one of the co-owners (customer) will purchase, in periodic instalments, the share of the other co-owner (Bank) until the ownership of that tangible asset is completely transferred to the purchasing co-owner (customer). Furthermore, along with the purchase of share, the (purchasing) co-owner will also make agreed periodic payments (rent) for the usage of other co-owner’s share in the asset, till ownership of the asset is completely transferred to the customer.

      Saadiq Auto Finance A Shariah Compliant Auto Financing solution with flexible payment options and low Takaful rates.

      Disclaimer

      This is to inform that by clicking on the hyperlink, you will be leaving www.sc.com/pk and entering a website operated by other parties:

      Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

      The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

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