Bank Alfalah is now providing easy installment plans for car buyers in Pakistan. Due to the high car prices in the country, it has become difficult for people to afford their dream cars. However, Bank Alfalah has partnered with Pak Suzuki to offer installment options specifically for the popular Suzuki Wagon R and other car models.
With these installment plans, customers can now pay for their cars over a period of up to five years, making it more affordable and convenient. The bank understands the financial challenges faced by buyers and aims to ease their burden by offering flexible repayment terms.
To avail of this financing facility, customers need to fulfill certain requirements and provide necessary documents such as a completed application form, a copy of their identification card, a statement from the State Bank of Pakistan regarding previous loans and monthly liabilities, two recent photographs, and additional documents based on their profession (such as salary slips, bank statements, ownership certificates, rental agreements, income proofs for foreign remittances, etc.).
These installment plans are available for various customer segments, including salaried individuals, professionals, self-employed individuals, landlords, housewives, retired individuals with consistent rental income or foreign remittances. Bank Alfalah’s auto financing options are designed to accommodate customers from different income sources, including employment, business, rental income, agricultural income, and remittances from abroad.
The interest rates for the financing product vary based on the vehicle type and loan duration. For locally assembled or manufactured brand new vehicles, the interest rates range from 1 Year KIBOR + 3.50% to 1 Year KIBOR + 5.00% depending on the loan duration. For used vehicles and brand new semi-commercial vehicles, the interest rate is 1 Year KIBOR + 5.00% across different loan durations.
Bank Alfalah ensures transparency and simplicity in its financing process, allowing customers to fulfill their car ownership aspirations with greater ease. By providing these easy installment plans, the bank aims to make car ownership more accessible and affordable for individuals across Pakistan.
With 30 percent down payment – Suzuki Wagon R VXR
With 50 percent down payment – Suzuki Wagon R VXR
With 30 percent down payment – Suzuki Wagon R VXL
With 50 percent down payment – Suzuki Wagon R VXL