You can now become the owner of a brand new locally assembled/manufactured car through Soneri Mustaqeem Shari’ah Complaint Car Ijarah Finance facility. This product is ideal for individuals who want to get interest-free financing for acquiring locally manufactured /assembled vehicles.
Soneri Mustaqeem Car Ijarah works through a car rental agreement, under which the Bank purchases the car and rents it out to the customer for a period of 1 to 5 years, agreed at the time of the contract. Upon completion of the Ijarah period, the vehicle will be sold at a token amount or gifted to the customer.
Key Features
- Ijarah based Shari’ah Compliant Financing
- Fast and hassle-free application processing
- Zero processing fee on declined application
- Option of Used and Reconditioned Car is also available
- Maximum Financing amount Rs. 3,000,000/-million
- Minimum security deposit required
- Financing can be availed for1 Year to 3 Years (Max. 5 Years for locally manufactured cars of up to 1000cc engine capacity).
- Minimum Monthly Net Take home income
- Rs, 35,000/- (for Salaried individuals, Businessmen and self –employed professionals, Agriculturist and Rental Income)
- 100,000/- (for individuals receiving foreign remittance
- 25,000/- (For all categories of PWDs including females with disabilities i.e physical handicapped, visually impaired/blind, people with hearing speech disabilities etc.)
- Applicant’s age should not be more than 60 years at the time of financing maturity for salaried individuals and 70 years for businessman and self-employed professionals.
- Early & Partial settlement options as per applicable terms.
Note:
Kindly refer relevant product KFS/ Islamic SOC for updated product features/ facilities.
For further details, please call our 24/7 helpline 021-111-SONERI (766374).
*Subject to change from time to time.