Compare Financial Products
Select 2-4 products to compare side by side. See fees, rates, rewards and eligibility at a glance.
| Feature |
Durable Goods Financing
|
Meezan Car Ijarah
|
|---|---|---|
| Loan maturity | — | — |
| Applicant Age | — | Minimum age limit of applicant should be 25 years; maximum age at maturity 60 years for salaried, 65 years for businessman / self-employed |
| Monthly Installments | — | — |
| Markup Rate(Fixed) | — | Fixed Profit Rates (Lien Based): 1 Year 7.25%, 2 Year 8.25%, 3 Year 8.50%, 4 Year 9.00%, 5 Year 9.25%, 6 Year 9.35%, 7 Year 9.50% |
| Financing limit | Financing limit ranges between a Minimum of 35,000/- up to the maximum of 1,000,000/- | Maximum financing of up to 10 million as the net financing amount |
| Repayment tenure | — | 1 to 5 years agreed at the time of the contract |
| Life insurance coverage | — | — |
| Financed Amount | — | — |
| Security Deposit | Down Payment: From 5% to 50% of Market Price (T&C Apply) | Security deposit / Advance rental: Minimum 15% of the cost of vehicle and 25% of the cost of vehicle for Sport Utility Vehicle (SUV) for salaried professionals |
| Minimum monthly income (Salary, ) | — | — |
| Eligibility | Monthly instalment should not be more than 35% for net monthly income (For Salaried, SEP and Businessmen) | Net take home income in excess of 2 times the monthly rental (inclusive of takaful); all monthly repayments including proposed Ijarah rental not to exceed 40% of net income |
| One-time Processing Fee | Rs. 1,800 (Non-refundable) + Legal documentation charges at actual | No processing charges. Documentation and security perfection charges are to be paid at actual by the applicant |
| Annual Charges | — | — |
| Limit enhancement fee | — | — |
| Late payment charges | — | — |
| Loan Category | — | — |
| Maximum Tenure | — | Maximum ijarah tenure: Upto 7 years |
| Tentative rate | — | — |
| Additional Benefits | — | — |
| Free Insurance & Processing Fee | — | — |
| Interest Rate | — | Fixed Profit Rates (Non Lien Based): 1 Year 12.98%, 2 Year 13.01%, 3 Year 12.99%, 4 Year 13.12%, 5 Year 13.12%, 6 Year 13.22%, 7 Year 13.29% |
| Loan Amount | Minimum PKR 35,000 up to maximum PKR 1,000,000 | — |
| Card/Cards | — | — |
| Borrrowing Amount | — | — |
| Educational Loan | — | — |
| Return Policy | — | — |
| Deferment Conditions | — | — |
| Flat rate | — | — |