By Faysal Bank is making it easier than ever for Pakistanis to drive away in their dream vehicle with the Faysal Islami Car Finance — a Shariah-compliant, transparent, and customer-friendly car financing solution. With 1-day approval, competitive rental rates, and a variety of flexible options, this offering stands out as a top choice for Islamic auto financing in Pakistan.
Apply now via the official portal: https://apply.faysalbank.com/car-finance/
What is Faysal Islami Car Finance?
Faysal Islami Car Finance is based on the Islamic principle of Diminishing Musharakah, where the bank and customer jointly own the vehicle. The bank leases its share to the customer, who gradually buys it back over time, eventually becoming the sole owner. This model ensures interest-free, ethical financing aligned with Islamic values.
Key Features of Faysal Islami Car Finance
- 1-Day Approval for quick processing
- Financing for new or used, locally manufactured or assembled vehicles
- Up to 70% financing of the vehicle’s value
- Tenure options:
- Up to 5 years for vehicles ≤1000cc
- Up to 3 years for vehicles >1000cc
- No processing fee until approval
- Installments begin after vehicle delivery
- Partial prepayment and early settlement options
- Co-partner facility available
- Takaful coverage by reputable Islamic insurance providers
- Vehicle tracker installed for added security
- Financing available for used cars up to 9 years old
- Property rental income accepted as primary or supplementary income
Eligibility Criteria
Citizenship: Must be a Pakistani national
Income Requirements:
- Salaried: Minimum PKR 30,000/month
- Contractual: Minimum PKR 50,000/month
- Self-employed: Minimum PKR 40,000/month
Age Limit at Loan Maturity:
- Salaried: 21–65 years
- Self-employed: 21–70 years
Required Documentation
For Salaried Individuals:
- Completed application form
- Salary slip
- CNIC (copy)
- 2 passport-size photographs
- SBP undertaking
- 6 months of bank statements with salary credit
- Employment certificate
- Latest utility bill copy
For Business Owners / Self-Employed:
- Completed application form
- Business proof (e.g., NTN)
- CNIC (copy)
- 2 passport-size photographs
- SBP undertaking
- 6 months of bank statements
- Professional degree/membership (for SEPs)
- Latest utility bill copy
Why Choose Faysal Islami Car Finance?
Whether you’re a salaried individual or a business owner, Faysal Islami Car Finance offers a Shariah-compliant, transparent, and fast way to own a car without compromising your values. With flexible terms, security, and minimal hassle, it stands out as a trusted auto financing partner across Pakistan.
Disclaimer: This article is for informational purposes only. Terms, conditions, and eligibility criteria are subject to change based on Faysal Bank’s official policies. For the latest and most accurate details, please visit Faysal Bank’s official website or contact your nearest branch.
