Car Finance

Drive your Dream Car Today

Faysal Islamic Car Finance is based on the principles of Diminishing Musharakah. This is a medium and long-term financing product, where the Bank and the customer jointly purchase an asset and create joint ownership in the asset. The Bank rent out its share in the asset to the customer while the customer periodically purchases units of ownership in the asset from the Bank. After purchase of all the units, the customer becomes the sole owner of the asset.

Features & benefits
  • Fast and Hassle-free application process
  • Flexibility in selection of cars (locally manufactured as well as imported vehicles)
  • Facility against brand new as well as used vehicle
  • Financing amount up to 85% of the value of vehicle
  • Financing tenure from 1 to 7 years
  • Partial Pre-payment facility available
  • Co-Partner facility available
  • Early settlement option
  • Takaful coverage from reputable Takaful Companies on FBL Panel
  • Tracker will be installed in vehicles for maximum safety
  • Installments start after vehicle delivery
  • No processing fee until financing approval
  • Up to 9-year old vehicle can be financed
  • Property rental Income can be considered as primary income or additional to the basic income
Eligibility Criteria
  • Citizen Ship: Pakistani
  • Income:
    Salaried: Minimum PKR 30,000
    Contractual: Minimum PKR 50,000
    SEB/SEP: Minimum PKR 40,000
  • Age Limit: Salaried (Min 21 Years and Max 65 Years at the time maturity)
    SEB/SEP (Min 21 Year and Max 70 Years at the time of maturity)
Documents Required

Salaried Individuals:

  • Application Form properly filled and signed by customer
  • Current Salary Slip
  • Clear and Visible Copy of CNIC
  • 2 Recent Photograph (passport size)
  • SBP undertaking properly filled and signed by customer
  • 6 Month’s Bank Statement, Where Salary Credits (Original / stamped & signed by bank)
  • Employment Certificate
  • Copy of Latest Utility Bill

Business Person/Self Employed Person:

  • Application Form properly filled and signed by customer
  • One-year Business Proof (Copy of NTN or Any Authentic Business proof)
  • Clear and Visible Copy of CNIC
  • 2 Recent Photograph (passport size)
  • SBP undertaking properly filled and signed by customer
  • 6 Month’s Bank Statement (Original / stamped & signed by bank)
  • Professional Degree and valid membership of applicable professional body (for SEP Only)
  • Copy of Latest Utility Bill
Online Payment Proccess

Online Payment Process for Faysal Car Finance installments

  • Are you worried about your monthly Faysal Car Finance installments?
  • Not to worry anymore.Click here to follow the guide for online payments via Faysal Digibank Mobile App or Digibank Internet Banking.
  • Step 1: Log in to Faysal Digibank Internet Banking or Mobile App
  • Step 2: Open Beneficiary Management and click on adding New Beneficiary
  • Step 3: Select Faysal Bank and add Account number or IBAN
  • Step 4: Add Beneficiary details and enter OTP code
  • Step 5: Go to the main menu and select Transfer and Payments
  • Step 6: Select the Other Faysal Bank Account Option
  • Step 7: Select the beneficiary that was added earlier and enter amount
  • Step 8: Enter OTP code and confirm payment

*Payments through other Banks can also be made in your repayment account through normal IBFT process.

If you have not yet downloaded Faysal Digibank Mobile App, use below links for Android and iOS mobile phones:

Special Offer for Doctors - Faysal Car Finance

A salute to our real heroes!

Our health workers are working hard in battling COVID-19 during these difficult times. As a tribute to their untiring efforts, we offer our heroes lowest installments in first year on Faysal Car Finance, so that our heroes can drive their dream car today!

  • Principal Payment Holiday for first year
  • Free Life Takaful Coverage up to Rs 5 Million
  • Quick Processing
  • Financing tenure up to 7 years
  • Facility available for New and Used cars.

This offer is only valid for Doctors and Healthcare staff. Apply today and avail the lowest installments on your favorite car.

Terms & Conditions

  • The campaign is only valid for Karachi, Lahore, Islamabad, Peshawar, Hyderabad, Multan, Faisalabad, Sialkot, Gujranwala.
  • Minimum monthly income required for Private/ Government Hospital employees is PKR 30,000 and for Private Practitioner is PKR 40,000.
  • Minimum experience required is 3 years.
  • Takaful coverage will be provided for maximum 5 years, subject to early Payoff or termination of financing.
  • Approval is subjected to clear eCIB and DBR.
  • Bank reserves the right to reject any application without assigning any reason.
  • Any other terms and conditions apply

For further queries or details, call at (021) 111 06 06 06.

FAQS (Doctors Campaign):
  1. What are the features of the campaign?

Under this campaign, applicant will be provided with Free Life Takaful Coverage up to 5 MM along with First Year Principal Payment Holiday.

  1. What type of vehicle can be financed with Faysal Car Finance?

We offer financing against brand new and used locally manufactured and imported vehicles.

  1. What are the financing tenure options offered by Faysal Car Finance?

Tenure of the facility is between 1 to 7 years.

  1. What is Principal Payment Holiday?

Under principal payment Holiday customer will only pay the rental amount of its installment for 1st year and the principal amount payment will Start from the 2nd year.

  1. What is the value of the Takaful coverage?

Takaful coverage value will be the ‘price of vehicle’ with a maximum ceiling up to Rs. 5 Million.

  1. For what duration will the Takaful coverage be provided to the Customer?

Takaful coverage will be provided throughout the financing tenure maximum up to 5 years, however in case of maturity or early settlement customer can continue the policy by paying directly to Takaful Company

  1. What pricing options does this campaign offer?

Under this campaign, variable pricing is offered linked to KIBOR.

  1. What is the processing fee?

Processing fee is Rs. 7,000/- plus 16% FED and is non-refundable.

  1. What is the minimum down payment amount required?

The customer is required to pay at least 15% of vehicle value and down payment varies on case to case basis

Car Finance
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