PRODUCT HIGHLIGHTS

Maximum amount Rs. 1,000,000
Swift approval within 2-3 days
Strict compliance to Islamic Sharia'h
3 year and 5 year term ijara at competitive rates
Available against any brand new unregistered car
Car to be registered in the name of the bank
Client to be provided with authenticated duplicate   registration of the car and duplicate key, along with an   authorization certificate from AIB permitting the client   to drive the vehicle
Spouse, children or parents can be co-applicants,  subject to the age criteria
The facility has an early adjustment option in which  asset can be purchased by making payments at the pre  determined amount given in the undertaking to purchase  the leased asset
Provisional rental schedule to be provided to the  customer at the time of booking of the asset and the  payment will be made on the basis of this schedule. Any  revision in the payment schedule during the intervening period from the date of  booking to the date of delivery will result in the adjustment to the rental schedule.

FEE & PAYMENTS

10% of the value of the car to be provided as security deposit
Payments through equal monthly rental to the Bank in the form of post dated cheques
One time processing and documentation charges Rs. 3,000

ELIGIBILITY

All Pakistani nationals holding computerized NIC. Old NIC acceptable against evidence  of having applied for new
Minimum 21 years of age at the start of financing and maximum 60 years at the time  of maturity
Salaried, Business or Self-employed

For further information, please contact any of your nearest AlBaraka branch or send us email at cbd@albaraka.com.pk

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