Alfalah Auto Loan is a popular product of Bank Alfalah. Alfalah Auto Loan provides flexible auto-financing options for those who wants to own a car. It also gives the customer ease of choosing a suitable payment plan, customers can calculate Monthly Loan Payment through Alfalah Car Loan Calculator. Moreover, the whole process is hassle-free and quick.
Bank Alfalah also have Alfalah Car Ijarah which is designed according to the principles of Shariah. Alfalah Car Ijarah is considered completely interest-free.
Key Features and Benefits
Bank alfalah car financing calculator gives Residual Value option which can lower monthly installment. For selected cars, Bank Alfalah’s customer can pay a lump sum balloon payment (up to 50% of Financing Value) at the end of the financing tenure for increased affordability and ease of repayments.
Alfalah Auto Loan gives the option of choosing a new, used, or imported vehicle. The Loan tenure ranges from 1-7 years. Alfalah Auto Loan offers fixed and variable pricing plans. For imported (new/used) and brand new locally manufactured vehicles, one can get financing up to PKR 6,000,000. For used locally manufactured vehicles, the financing limit is PKR 4,000,000. Another salient feature of Bank Alfalah Car financing is that there are no charges on car replacement. Special comprehensive insurance rates offered by Bank Alfalah makes Alfalah Car finance more attractive. Moreover, Alfalah Auto Loan also gives the option of paying insurance and registration charges in installments instead of paying upfront. Not only it reduces the down payment, but it also increases customer’s affordability.
Bank Alfalah Car Financing Calculator
Bank Alfalah has an installment car loan calculator available on its website for calculating monthly installment on Bank Alfalah Car Loan. The installment calculator can be used to find out markup rate options. One has to input total value of the car, down payment, financing (bank’s participation), and total financing years. The Bank Alfalah Car Loan calculator will output current markup rates and approximate equal monthly installment (EMI). This online calculator with same functions can also be accessed on PakWheels.com
Eligibility for Bank Alfalah Car Financing
A Pakistani national having a stable and verifiable income source can apply for Bank Alfalah car financing. The age range for a self-employed/other it is 21-65 and for a salaried person (Government/Semi-Government, and Armed Forces employees) is 21-60 years. The other category includes professionals (Charted Accountants, Doctors, and Consultants), self-employed individuals, landlords, housewives, and retired individuals who can apply for Bank Alfalah Car Finance.
Required Documents
For Alfalah Auto Loan, required documents are passport size photographs, a copy of CNIC, last six months bank statement, and salary certificate. Moreover, SBP undertaking on Loans availed and monthly liabilities is also required. Required documents may vary depending on the profession or source of income of the customer.
