Buying installment cars in Islam
In the time from the hectic life of today and long distance destinations, the car is an essential asset for any human being The middle class community especially looking for car loans and car rental for their convenience Banks also need these little reliable investments to maintain their flow of business on track due to lack of awareness about the car loan strategy in our country, people mostly are left uninformed and often leave their dreams behind Get car loan from a bank is not much complicated as you think it is a simple procedure requirement of some important documents and he s; you drive the car of your dreams with a simple and easy endeavor There is little difference in the eligibility criteria of a bank to another.
The applicant must be a citizen of Pakistan takes.
The applicant must hold an account in this bank, in which he asks.
The applicant must be in one category; employee, business or self-employed.
Applicants must be between 20 and 60 years in case of an employee and between 20 to 64 years in case of a business person at the time of the loan process.
Common features of the application form are also discussed here mark up rate is the most important query that needs to discuss First, it fluctuates depending on the time of year agreement and remains on the ratio of 20 mostly loans are given for the period of 1 year to 7 years duration years increase, the rate increase and increase the loans can be taken for both, new or used cars No restrictions are applied to your liking in the field choose the Suzuki manufacturer, Honda, car manufacturers Toyota and Hyundai support rental car banks set a limit on the car loan facility and don t give you more than 2 5 million rupees banks also charge t provide loans for cars more than 5 years the monthly payment loan return schedule should also match your level of affordable you will dema ndé to provide documentation according to the car loan process.
The last pay slips and bank statement of 3 months for employees.
Proof of activity and bank account 6 months for business person.
In the conclusion of the subject, one more thing we need to discuss what are the criteria of banks to provide auto loans to low-profile people based on their bank statements If you are under managed your bank statement, and the bank gives you a time to improve by increasing the cash flow of your account or the bank will consider the required declaration and ignore its own rule the bank just need to clarify your strength wealth.
How to get a car loan from any bank in Pakistan, loan, bank, pakistan.