Commercial Vehicle Loan

Product Description

Individuals and Entrepreneurs, who are self-employed, providing services or doing business and wish to own a new or used (up to maximum 03 years old vehicle) local commercial vehicle for business use as well as for rental income generating activities.

PKR

500,000

PKR

50,000

Years

5

Years

1

Down Payment

30

Percentage

0

Your Monthly Payments

PKR

13,340

Insurance Rate

1.40%

Markup Rate

21.5%

Your MONTHLY PAYMENT WILL BE JUST

PKR 13669

NUMBER OF PAYMENTS

240

TOTAL INTEREST

PKR 152000

TOTAL COST OF LOAN

PKR 48000

Advance Payments

Down Payment

PKR 16730

First Year Insurance *

PKR 1730

First Year Tracker *

PKR 1730

Processing fee

As per SOC

Total

PKR 16730

Loan Amount

Up to Rs.3,000,000/-

Loan Tenure

Up to 1,000 CC: 1-7 Years Above 1,000 CC: 1-10 Years

Basic Documentations

Copy of valid Computerized National Identity Card (CNIC) or Smart CNIC

Age between 18-63 years
Business experience of minimum of 1 Years required
Holding valid CNIC/SNIC
Not defaulter of any financial institutions & Public Utilities.
Residing or working in launching cities for at least 1 year in case of owned residence or Min. 02 years

Up to Rs.3,000,000/-

For new: 0% - 50%
For used: 25% - 50%

Up to 1,000 CC: 1-7 Years
Above 1,000 CC: 1-10 Years

Copy of valid Computerized National Identity Card (CNIC) or Smart CNIC
1 recent passport size photograph of the Customer
Copy of Valid Driving License of Customer
2 references with their CNIC copies and Contact details
Quotations from 03 reputable dealers of the locality for used/imported vehicle.
Price List of Manufacturer of Vehicle
Proof of Business/Undertaking for running business for self-employed persons
A copy of latest paid utility bill of business place or residence.
6 months’ personal account statement in case of self-employed/services or any other proof of business transactions (if available).