Faysal Bank Car Loan Calculator and Auto Finance

On the request of many friends I am sharing the details of Faysal Bank Auto Finance. You can buy used, imported or new brand cars with this loan. They Faysal Bank has made the process of getting loan so quick and you required minimum documents for the loan. Before proceeding to Faysal Bank Car Loan Calculator, I want to explain the main points / features of the Faysal Bank Loan.

Unless you don’t pay all the installments, the vehicle remains in the name of the Bank and when you pay all the installments, you can transfer the vehicle on your name. Faysal Bank Limited also provides the facility of the tracker and online car insurance. This makes the car more secure and you are free of any kind of tension of the damage of the car or lost.

You can get the car loan for a period of one year to 4 years depending on your capacity of payment. If you get the car advance loan for less years you have to pay less interest on the total amount. It means more the years you adopt to repay the loan, more you have to pay the loan interest amount. It is to mention here that I have also explained the National Bank Loan Calculator for the Government employees. Today I shall explain the features of the Faysal Bank Islamic Car Loan.

Salient Features of the Faysal Bank Car Finance

Very Fast Processing procedure of the application
Loan repayment period is 1 year to 5 years and 1 to 7 years for Faysal Islamic Car Finance
The bank provides the facility of co-borrower
Mark up Rates / interest rates for loan is very attractive
Select your own choice cars local or imported
You can purchase new cars as well as used cars

Eligibility for Car Loan

Up-to date Valid Computerized National Identity Card (CNIC) / NICOP (National Identity Card for Overseas Pakistanis / POC (Pakistan Origin Card)
Salaried Persons (Government Employees and Workers), self employed and businessmen

Minimum monthly income for the business men and the self employed persons must be Rs. 40,000/- (forty thousands)
Minimum net home salary of the employees should be Rs. 30,000/- per month
Age limit between 21 years to 60 years for employees & maximum 75 years for others
Must be a Pakistani Nationalist

Documents Required to get Car Loan

For Salaried Persons

Duly filled loan application form of the employee
2x latest passport size photographs of the borrower
Last month salary slip and salary certificate of the employee issued by accounts office
Previous Six months Bank statement of any bank of the employee
Photocopy of the Computerized National Identity Card (CNIC) / NICOP (National Identity Card for Overseas Pakistanis / POC (Pakistan Origin Card) of the salaried person / employee

Car Loan for Businessman & Self-employed Persons

Bank statement for the last 6 months
National Tax Number (NTN) certificate
Proof of the business or the occupation / profession
Must be duly filled application form of the car loan in all respects
Photocopy of the Computerized National Identity Card (CNIC) / NICOP (National Identity Card for Overseas Pakistanis / POC (Pakistan Origin Card)
Two recent photographs (passport size)
Proprietorship letter
Tax Returns of for the last 2 years for car advance
Professional degree and valid membership of applicable professional body (for SEP only)