Who can apply for Faysal Roshan Apni Car Finance?

Faysal Roshan Apni Car Finance is a special product for Faysal Bank’s RDA customers only.

Under which segments the customer can apply?

RDA customer can apply based on:

  • Lien Marking on RDA deposits/NPCs
  • Remittance sent through FBL RDA
  • Salaried segment

What pricing does Faysal Car Finance offer?

Following would be the pricing:

  • Lien Based: SBP Floor rate + 1%.
  • Non lien Based: 1 Year KIBOR + 1%.
  • Salaried segment

What is KIBOR?

KIBOR is the Karachi Interbank Offered Rate used as a benchmark for price setting.

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

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

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

Tenure of the facility is between 1 to 7 years.

What is the minimum loan amount offered under Faysal Car Finance?

The minimum loan amount is PKR 100,000.

Will the vehicle be registered in my name during the facility tenure?

In case of financing, the vehicle will be registered in the name of the customer with HPA marked to Faysal Bank.

Can I sell my vehicle or transfer the Facility to a third person during the facility period?

No. This is a violation of the legal agreement and it should be avoided.

Do I need a good credit history to avail Faysal Car Finance facility?

Yes, a good credit history is required to avail the facility.

What are the other charges applicable?

Tracker charges and Takaful charges are applicable. For all other charges, please refer Islamic Banking Schedule of Charges.

Can I repay the loan before the maturity date?

Yes, you can settle your car loan before the maturity date. However, certain charges will apply. For details please contact FBL Phone Banking at 111-06-06-06.

Will I have to pay any additional amount/charges for pre-payment/ early Settlement of the Facility/finance?

Yes. Charges will be applicable as per the SOC. However, zero early settlement/pre-payment charges after first year.

What is the Takaful rate offered under this scheme?

The current takaful rate offered will be Rs. 1.5%.

Is Takaful included on my financed car?

Faysal Car Finance arranges a comprehensive Takaful coverage of vehicle from insurance companies listed on our Bank’s panel.

Is it possible for two people to jointly apply for Faysal Car Finance?

Yes, two people can jointly apply for the facility as Co-partners. Subject to fulfillment of certain criteria the Co-partner’s income will be clubbed with your income to meet the requirement. For details please contact FBL Phone Banking at 111-06-06-06.

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.

What is the monthly installment due date?

2nd day and 15th day of every month.

What are the Late Payment Charges?

Rs. 50/- per day will be levied on late payments after the due date. These charges are calculated and payable at the time of maturity/settlement of facility.

Where to contact in case of complaints?

In case of further queries or complaint you can call at our 24 hours’ available call center on 111-06-06-06.