Al Baraka Bank Car Loan Calculator - Al Baraka Bank Car Finance

Features and Benefits

1. Shari’ah Compliant
2. Transaction Mode is Diminishing
3. Musharakah Quick Processing
4. Most affordable Installments
5. No upfront Installments before delivery of the Vehicle
6. No Funding Profit charged during the Advance Booking period
7. Payable in tenure of 12 to 60 months
8. Minimum Processing Charges
9. Auto Finance Available for Locally Manufactured / Assembled Vehicles
10. Only Minimum Customer Musharakah Contribution is 30%
11. Maximum Term is 60 Months for upto 1000 CC Vehicles & 36 Months for Above 1000CC Vehicles

Required Documents

SALARIED 

1. Copy of CNIC / NICOP / POC 2
2. recent passport size photographs
3. Latest pay slip / salary certificate from employer
4. Bank statement for the last 6 months
5. Duly filled loan application form BUSINESSMAN AND SELF-EMPLOYED

PROFESSIONAL 

1. Copy of CNIC / NICOP / POC
2. 2 recent passport size photographs
3. Bank statement for the last 6 months
4. Proof of profession or business Proprietorship letter NTN certificate
5. Tax Returns of 2 years PROFESSIONAL DEGREE

VALID MEMBERSHIP OF APPLICABLE PROFESSIONAL BODY (FOR SEP ONLY) 

1. Duly filled loan application form Proprietors
2. Partnership Concerns or Limited Company Copy of CNIC / NICOP / POC
3. 2 recent passport size photographs
4. Declaration of proprietorship
5. Certified Partnership Deed
6. Memorandum & Article of Association
7. Form A & 29
8. Company Profile Bank statement for the last 6 months
9. Tax Returns and Assessment Order for the last 2 years
10. Copy of latest utility bill Duly filed application form

Eligibility

1. Pakistani Citizenship
2. Minimum Monthly Net Salary / Monthly Income Requirement: PKR 80,000 Minimum
3. Age Requirement: 22 years* Maximum Age (at loan maturity): 65 years (salaried) and 70 (Self-Employed)
4. Employment/Business Length: Minimum 6 Months
5. Employment (Salaried)* / 1 Year Business (Self-Employed).*