Habib Bank is Pakistan’s number 1 bank in terms of assets, annual profit and branch network.
Habib Bank Car finance has some unique attributes which distinguish it from other banks.
HBL finances the car up to 85% of the price of the vehicle. The amount of finance ranges from Rs.200,000 to Rs.3,000,000 depending upon the customer debt burden ratio, monthly income and the market value of the car.
The customers can finance locally assembled cars new and used and light commercial vehicles for up to 7 years.
More the financed period less the monthly installment will be but mark up will be high in this case.
Who Can Finance HBL Car
Business and Salaried Persons both can finance HBL cars if they meet the eligibility criteria. Any salaried or business person within the age range of 22 to 60 years can finance the car.
The income criteria is minimum set at Rs.20,000 for both salaried and Businesspersons.
The salaried and business persons maintaining their salary account with HBL will get certain benefits and mark-up discounts.
Documents Required for HBL Car Finance
The applicant is required to provide a valid Identity document(CNIC, SNIC), two photographs and income proof.
If the applicant is a salaried person then a three-month bank statement will be required.
The salary slip or written statement from the employer confirming the job status in case of an employee will also be required. The salary slip or any other job proof must not be older than three months.
In the case of business persons, the bank statement must be for six months and the income proof.
Overseas Pakistanis are also eligible to apply for HBL Car Finance if they are locally or internationally customers with HBL.
More than one person can apply for an HBL car loan as this may increase the income for the applicants and hence the amount of car finance will also be increased. Such persons can be blood relatives, siblings, parents with children etc.
Repayment of the loan can be made in partial payments as well as in full payments. In case of full adjustment of the HBL car loan, certain charges will have to be borne by the customer.
The applicant may visit HBL any nearest branch to apply for the car loan or visit this HBL webpage Link to apply online.