Overview
Bank Alfalah offers Roshan Digital Account (RDA) holders the opportunity to finance locally manufactured brand-new vehicles with flexible and Shariah-compliant options. This facility is available for salaried individuals, self-employed professionals, and through lien or remittance-based financing.
Financing Features
- Loan Amount: PKR 200,000 to PKR 7,500,000.
Down Payment
- 15% for loans up to PKR 6,000,000.
- 20% for loans above PKR 6,000,000.
- 0% equity for lien-based financing.
- Financing Tenor: 2 to 7 years.
Profit Rates
- Standard: 1-Year KIBOR + 1.00%.
- Lien-Based: SBP Floor Rate + 1.00%.
- Rates applied at disbursement based on prevailing KIBOR or SBP rates.
Value-Added Services
Comprehensive takaful coverage available through:
- Alfalah Takaful Company Ltd.
- Adamjee Takaful.
- EFU General Takaful Ltd.
Features & Offerings
Simple Digital Process
Apply online through a quick and convenient digital application with fast approvals.
Flexible Repayment Options
Enjoy competitive profit rates with repayment tenors of up to 7 years.
Joint Application Facility
Roshan Digital Account holders can apply with a local nominee or co-borrower in Pakistan.
Wide Choice of Vehicles
Choose from a range of locally manufactured new cars with priority delivery on selected brands.
Exclusive Protection Plans
Benefit from low-cost Shariah-compliant takaful options with or without tracker facilities.
Direct Delivery to Family
Vehicles are delivered directly to your family members in Pakistan.
Withholding Tax & Charges
- Withholding tax (WHT) to be borne by the bank.
- No upfront registration and takaful charges.
Flexible Rentals
No rentals before delivery of the vehicle.
Eligibility
General Requirements
- You must hold a Bank Alfalah Roshan Digital Account.
- A local nominee or co-borrower in Pakistan is required.
Salaried Individuals
- Age: 21 to 65 years at loan maturity.
- Minimum income: USD 3,000 or equivalent.
- Minimum employment: 6 months.
Self-Employed / Professionals
- Age: 21 to 70 years at loan maturity.
- Minimum income: USD 4,000 or equivalent.
- Minimum experience: 1 year in current business.
Remittance-Based Applicants
- Regular remittance credits to a nominee or co-borrower’s account in Pakistan.
- At least 6 consecutive remittance deposits through an RDA, foreign account, or remittance slips.
- Must also meet the criteria for salaried or self-employed segments.
Lien-Based Applicants
- 100% lien marked on funds in your Pak Rupee Roshan Digital Account or Pak Rupee Naya Pakistan Certificate.
- Lien remains until loan maturity.
- Financing linked to the term of the Islamic Naya Pakistan Certificate.
Required Documents
Basic Documents
- Completed online application form.
- Copy of CNIC/NICOP/POC/Smart ID.
- Recent photograph.
- Nominee’s CNIC.
Salaried Individuals
- Salary slip or certificate.
- Bureau report from country of residence.
Self-Employed / Professionals
- Tax returns.
- Commercial registration certificate (if applicable).
- 6-month bank statement or income verification report.
- Account maintenance certificate.
- Bureau report from country of residence.
Remittance-Based Applicants
- Proof of remitter’s job or income.
- Remitter’s passport copy.
- 6 months of remittance slips or bank statements.
Lien-Based Applicants
- Only basic documentation required.
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