BankIslami's Islami Auto Finance facility offers you the convenience to get the car of your choice, the Shariah Compliant way.
Islami Auto Finance facility is based on Diminishing Musharakah under Shirkat-ul-Milk arrangement. Under this joint partnership agreement, BIPL's share in vehicle is represented by Musharakah units. The Bank will rent out its share in vehicle to you in exchange for periodical rents claimed. In addition to periodical rental payment, you will purchase BIPL's share (Musharakah units) on a periodical basis. Upon purchase of all Musharakah units, you will become the sole owner of the vehicle.
Auto Financing facility for
New/ Used/ Re-conditioned Vehicles
Tenure of Auto Financing
1 to 7 years
15% to 90%
Rs. 4,700/- (Rs. 1,200 Pre-Processing is part of the Rs. 4,700/- Amount for the first time)
Tracker installation is Mandatory for All Vehicles and tracker shall be installed by BankIslami Pakistan Limited.