Eligibility
Our Auto Loan is designed to support a wide array of individuals. You are likely eligible
if you fall into one of these categories:
Who Can Get This Loan?
- Salaried Individuals: Including employees from Government,
Semi-Government sectors, and the Armed Forces.
- Professionals: Such as Chartered Accountants, Consultants, Doctors,
and other qualified professionals.
- Self-Employed Individuals: Including proprietors, partners in
businesses, and those managing family businesses.
- Individuals with Consistent Income: This includes landlords,
housewives, and retired individuals who receive regular rental income or foreign
remittances.
Eligible Income Sources:
- Employment (Permanent or Contractual)
- Business (Partnership or Proprietorship)
- Rental Income
- Agricultural Income
- Remittances from Abroad
- Co-Borrower’s Income (if you're applying jointly)
Nationality Requirement:
- You must be a Pakistani National Identity
Card holder.
For Salaried Individuals:
- Minimum Gross Salary: PKR 30,000 per month
- Age:
- Private Sector Employees: Minimum 21 years, maximum 65 years (at
loan maturity)
- Government Sector Employees: Minimum 21 years, maximum 60 years (at
loan maturity)
- Employment Status:
- Permanent: Currently employed with at least 6 months of total work
experience
- Contractual: Currently employed with at least 1 year of total work
experience
For Self-Employed Businessmen / Professionals / Others:
- Minimum Gross Income: PKR 50,000 per month (assessed from
bank statements or supporting documents)
- Age: Minimum 21 years, maximum 70 years (at loan maturity)
- Business Standing: At least 1 year in your current business
Documents Required
Getting your Bank Alfalah Auto Loan approved is straightforward. Here’s a simple
checklist of documents to submit:
For All Applicants
- Complete Application Form: Fully filled out and signed.
- Identification: A clear copy of your CNIC (Computerized National
Identity Card).
- Financial Declaration: Your SBP undertaking detailing any existing
loans and current monthly financial commitments.
- Recent Photos: Two passport-sized photographs.
Based on Your Income Source
- Salaried Individuals:
Your latest Salary Slip or Employment Letter, plus 6 months of your bank statements.
- Self-Employed (Businessmen / Professionals):
6 months of your bank statements. Income will be assessed through these statements.
- Agriculturists:
Fard / Mukhtar-e-Kar / Ownership Certificate, along with 6 months of your bank
statements. Income evaluation facility available.
- Rental Income Earners:
A rental agreement (valid for at least the next 3 months), the property title
document, and 6 months of your bank statements.
- Foreign Remittance Recipients: Proof of your income/job abroad, the
remitter’s passport (with at least 3 months of visa validity), and either 6 months
of remittance slips or 6 months of the remittee’s bank statements.
Important Documents
