Overview
The Bank Alfalah Premier Auto Loan helps you bring home your perfect car with ease and flexibility. Whether new or used, enjoy affordable payment plans, reduced upfront costs, and the unmatched service of Premier priority processing.
What You Get
- Financing for new and used locally assembled/manufactured cars
- Affordable markup rates with fixed or variable options
- Residual value option to lower your monthly instalments
- Vehicle replacement option with zero penalty
- Partial payment option for pre-booked cars
- Option to defer insurance and registration charges
- Flexible repayment tenure (2–5 years depending on vehicle type)
Eligibility & Documents
Eligibility Criteria
- Pakistani National Identity Card holder
- Salaried Individuals:
- Minimum salary: PKR 25,000
- Age: 21–65 years (Private sector)
- Age: 21–60 years (Government sector)
- Self-Employed/Business Individuals:
- Minimum income: PKR 50,000 per month
- Minimum 1 year in current business
- Age: 21–70 years at loan maturity
- Eligible customers include: salaried professionals, businesspersons, landlords, housewives, retirees (with consistent rental income/foreign remittances).
Important Documents
- Basic Documents:
- Completed application form with signature
- Copy of CNIC
- 2 recent photographs
- SBP undertaking on loans and liabilities
- Additional Documents by Profession:
- Salaried: Salary slip/letter, 6 months bank statement
- Self-employed/Business: 6 months bank statement*
- Agriculturist: Land ownership certificate, 6 months bank statement*
- Rental Income: Valid rental agreement, title document, 6 months bank statement
- Foreign Remittance: Income/job proof, remitter’s passport/visa, 6 months remittance slips or bank statement
- *Income evaluation facility available. Additional documents may be required at processing.
Features & Benefits
Priority Processing
Enjoy faster approvals and priority service exclusively for Premier clients.
Flexible Financing
Choose new or used cars with variable tenures and affordable markup rates.
Residual Value Option
Pay a lump sum at the end of tenure for lower monthly instalments.
Partial Payment Facility
Convert pre-booked vehicle payments into easy financing.
Vehicle Replacement
Replace your car anytime during financing with no pre-adjustment penalty.
Deferred Charges
Spread insurance and registration costs across instalments.
Balloon Payment Option
Lower instalments by making lump sum principal payments twice during tenure.
Cash Flow Ease
Financing structured to suit salaried and self-employed customers alike.
Calculator
Bank Alfalah Premier Auto Finance Calculator
Disclaimer:
Calculations are exclusive of Insurance charges.
Monthly instalment is tentative and subject to
change.
KIBOR rate (One Year) on the first day of the month
will
be applicable and will be revised on loan
anniversary.
Cases will be processed subject to satisfaction of
Debt
Burden Ratio (DBR) (as per Prudential Regulation’s-
State Bank of Pakistan), Bank’s internal credit
policy
and due diligence checks.
Processing Fee and all other charges will be
applicable
as per Banks Schedule of Charges.
For Salaried Individuals, minimum income requirement
is
PKR 25,000 and for business Individuals minimum
monthly
income requirement is PKR. 50,000.
How to Apply
- Visit your nearest Bank Alfalah Premier Branch.
- Apply online via the Bank Alfalah Auto Loan Calculator to estimate instalments
- Submit required documents along with the application form
- Await quick and priority processing as a Premier customer