Bank Alfalah car financing is a Sharia compliant auto loan that works on the principles of Ijarah and comply with the requirements of Ijarah transactions. Vehicle, in his case, remains in the ownership and risk of the Bank, and customer only pays rent for using the Vehicle, just like paying the house rent. Bank Alfalah car loan facility on Ijarah basis is for both salaried and businessman with minimum Rs. 25,000 and Rs. 50,000 monthly income respectively. By using our car loan calculator you can find Bank Alfalah car ijarah rates, information and eligibility requirements for the application of car finance from Bank Alfalah.
A car finance applicant should be a Pakistani National with at-least 21 years of age at the time of applying. Alfalah Car Ijarah is for salaried person with Rs. 25,000, and businessmen or self-employed with minimum Rs. 50,000 monthly income.
Bank Alfalah auto loan is available for new, used and imported/reconditioned cars for a tenure of 3 to 5 years. Bank Alfalah offers quick processing with minimal documentation requirements. Security deposit requirement is as low as 20%.
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