This Shariah-Compliant Installment Plan Lets You Buy Your Dream Car in Just One Day

Faysal Bank is offering an easy, Shariah-compliant route to owning your dream car through its Faysal Islami Car Finance, now featuring 1-day approval and attractive rental rates.

This solution combines speed, transparency, and convenience, allowing you to drive your new vehicle sooner with complete peace of mind.

Apply now via the official portal: https://apply.faysalbank.com/car-finance/

Based on Diminishing Musharakah

Faysal Islami Car Finance operates under the Islamic financing principle of Diminishing Musharakah, a medium- to long-term product. Under this model:

• The bank and customer jointly purchase a vehicle, establishing co-ownership.
• The bank rents its share of the vehicle to the customer.
• Over time, the customer gradually purchases the bank’s share, eventually becoming the sole owner.

Key Features and Benefits

• Quick and easy application with 1-day approval
• Choice of vehicles: locally assembled or manufactured, new or used
• Financing of up to 70% of the vehicle’s value
• Flexible tenures:
  • Up to 5 years for vehicles up to 1000cc
  • Up to 3 years for vehicles above 1000cc
• No processing fee until financing is approved
• Installments begin after vehicle delivery
• Partial pre-payment and early settlement options are available
• Co-partner facility allowed
• Takaful coverage through reputable providers
• Vehicle tracker installed for added security
• Up to 9-year-old used vehicles are eligible for financing
• Property rental income is 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 (SEB/SEP): Minimum PKR 40,000/month
• Age Limit:
  • Salaried: 21–65 years at loan maturity
  • SEB/SEP: 21–70 years at loan maturity

Required Documents

For Salaried Individuals:

• Duly filled and signed application form
• Current salary slip
• Copy of CNIC (clear and visible)
• Two recent passport-size photographs
• Signed SBP undertaking
• Six months’ original or verified bank statements with salary credit
• Employment certificate
• Copy of the latest utility bill

For Business Owners / Self-Employed:

• Duly filled and signed application form
• One-year business proof (e.g., NTN)
• Copy of CNIC (clear and visible)
• Two recent passport-size photographs
• Signed SBP undertaking
• Six months’ original or verified bank statements
• Professional degree and membership of a relevant body (for SEPs)
• Copy of the latest utility bill