Looking to drive home your dream car in 2025? Whether you’re eyeing a brand-new sedan or a reliable used vehicle, Pakistan’s leading banks—HBL, UBL, and Meezan Bank—offer tailored car financing solutions to suit diverse needs. Let’s explore the latest car loan rates and features from these banks.
HBL Car Loan – Flexible Financing Options
Key Features:
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Financing Limit: Up to 70% of the car’s value
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Markup Rates: Starting from 11.99%
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Tenure: Flexible repayment plans
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Eligibility: Available for salaried individuals, self-employed professionals, and pensioners
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Additional Perks: Discounted insurance and free tracker facility
Processing Fees:
| Application Type | Fee (PKR) |
|---|---|
| New Applicants | 13,000 |
| Returning Applicants (after 6 months) | 6,500 |
Note: Processing fees are inclusive of documentation charges.
UBL Car Financing – Diverse Options for Every Buyer
UBL Drive (Conventional):
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Financing Limit: Up to 70% of the car’s value
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Markup Rates: Competitive fixed and floating rates
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Tenure: Flexible repayment plans
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Eligibility: Available for salaried individuals, self-employed professionals, landlords, and pensioners
UBL Ameen Drive (Islamic):
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Financing Limit: Up to 70% of the car’s value
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Markup Rates: Starting from 14.75% for 1-3 years and 15.5% for 4-5 years
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Tenure: Flexible repayment plans
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Eligibility: Shariah-compliant financing for all eligible individuals
Note: Processing fees and other charges may apply.
Meezan Bank Car Ijarah – Shariah-Compliant Financing
Key Features:
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Financing Limit: Up to 70% of the car’s value
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Profit Rates: Starting from 13.45% for 1-year tenure
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Tenure: 1 to 7 years, depending on the vehicle’s engine capacity
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Eligibility: Available for salaried individuals, self-employed professionals, and pensioners
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Additional Perks: No processing fees; documentation and security charges apply
Profit Rates (Non-Lien Based):
| Tenure (Years) | Profit Rate (%) |
|---|---|
| 1 | 13.45 |
| 2 | 13.70 |
| 3 | 13.63 |
| 4 | 13.69 |
| 5 | 13.68 |
| 6 | 13.70 |
| 7 | 13.69 |
Note: Profit rates are subject to change based on deposit and PKRV rates at the time of disbursement.
Comparison Table: HBL vs. UBL vs. Meezan Bank
| Feature | HBL Car Loan | UBL Car Financing | Meezan Bank Car Ijarah |
|---|---|---|---|
| Financing Limit | Up to 70% | Up to 70% | Up to 70% |
| Markup/Profit Rates | From 11.99% | From 14.75% | From 13.45% |
| Tenure | Flexible | Flexible | 1 to 7 years |
| Processing Fees | Yes | Yes | No |
| Shariah-Compliant | No | Yes (UBL Ameen Drive) | Yes |
FAQs
1. What is the maximum financing amount available?
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HBL offers up to PKR 10 million.
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UBL provides up to PKR 5 million.
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Meezan Bank offers up to PKR 3 million.
2. Are there any processing fees?
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HBL and UBL charge processing fees.
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Meezan Bank waives processing fees; however, documentation and security charges apply.
3. Can I finance a used car?
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Yes, all three banks offer financing for used cars.
4. How can I apply for a car loan?
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Applications can be submitted online through the respective bank’s website or by visiting a branch.
Final Thoughts
Choosing the right car loan depends on your individual needs and preferences. Consider factors like financing limit, markup/profit rates, tenure, and Shariah compliance when making your decision. Always consult with the bank’s representatives to get personalized advice and ensure you select the best option for your circumstances.
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