Auto Finance
Type
- Car Financing
Payment Structure
- Monthly payments; tenure options of 1 to 5 years.
Eligibilty
- Age between 21-60 years, salaried individuals, self-employed professionals, and business owners.
Compliance
- Shariah-compliant with Ijarah structure (leasing) where the bank buys the car and leases it to the customer, who makes monthly payments until the car is fully paid off.
Home Finance
Type
- Home Financing
Payment Structure
- Flexible tenure up to 20 years; monthly installments.
Eligibilty
- Must be salaried or self-employed with a minimum income of PKR 40,000 and PKR 50,000 per month respectively; age between 21 and 60.
Compliance
- Islamic finance principles (Ijarah, Murabaha), with fixed or variable rates that comply with Islamic Shariah.
Personal Finance
Type
- Unsecured Financing
Payment Structure
- Fixed monthly payments for 12 to 60 months.
Eligibilty
- Salaried individuals, self-employed professionals; minimum salary requirement of PKR 40,000 per month.
Compliance
- The financing is compliant with Islamic principles and is based on a cost-plus-profit (Murabaha) model.
Consumer Durable Finance
Type
- Installment-based Consumer Financing
Payment Structure
- Fixed monthly installments for products like electronics, appliances, etc.
Eligibilty
- Applicants must be salaried or self-employed, with a minimum income requirement of PKR 30,000 per month.
Compliance
- Based on Murabaha financing model, where the bank buys the product and sells it to the consumer at a marked-up price.
Business Finance
Type
- Financing for working capital and business expansion
Payment Structure
- Flexible repayment terms, typically up to 5 years.
Eligibilty
- Businesses that have been operational for at least 2 years, with a stable financial track record.
Compliance
- Shariah-compliant, with financing based on Murabaha, Mudarabah, or Musharakah (partnership) principles.
Fleet Financing
Type
- Vehicle Financing for Businesses
Payment Structure
- Flexible monthly payments, lease-based structure.
Eligibilty
- Businesses requiring multiple vehicles, with a proven track record and stable income.
Compliance
- Ijarah structure (leasing), ensuring compliance with Shariah finance.
Agricultural Finance
Type
- Financing for agricultural needs
Payment Structure
- Flexible repayment terms based on crop cycles or seasonal income.
Eligibilty
- Farmers with at least 2 years of documented agricultural income or a stable farm business.
Compliance
- Shariah-compliant, financing is based on Murabaha or Mudarabah.