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Roshan Apni Car
Roshan Apni Car
Roshan Apni Car
We are now offering Roshan ApniCar (Auto Finance) facility to individuals having a Roshan Digital Account at Bank AL Habib Limited to purchase a vehicle for their spouse / parents / children residing in Pakistan.
Apply Now Roshan Apni Car Calculator
Product Eligibility Criteria
- Financing facility for brand new, used & imported vehicles.
- Non-Resident Roshan Digital Account (RDA) holder at Bank AL Habib Limited (BAHL) with Resident Pakistani Spouse / parents / children / Siblings as co-borrower or Resident Pakistani having RDA at BAHL.
- Having minimum working experience as follows:
- Regular Salaried individuals with minimum 2 years experience of current employer.
- Contractual Salaried individual with minimum 3 years experience.
- Self-Employed Professionals (SEP) and Business Individuals with minimum 3 years experience in similar profession / professional setup.
- Having minimum net monthly Income of:
- Employed / Working in Gulf Countries: Equivalent to DHS 10,000/-
- Employed / Working in Non Gulf Countries: Equivalent to USD 3,000/-
- Minimum Down Payment 15-45% depending upon the variant of vehicle.
- Holder of Permanent Resident Card / Nationality for Non-Gulf Countries, and Residency / Resident Card for Gulf Countries.
- Having clear credit history.
- Vehicle to be registered in the name of borrower or spouse / parent / child / Siblings as co-borrower.
- Facility to be disbursed and monthly installments to be paid from Roshan Digital PKR Account.
- For lien based facility, 100% lien marking on financing amount on PKR deposit, 120% on foreign currency deposit.
- Processing fee, documentation etc to be charged as per the Bank’s Schedule of Charges.
- Minimum age at the time of application: 25 years.
- Maximum age at maturity of financing: 60 years for salaried, 65 years for SEP.
For lien based facility, minimum experience, minimum income requirement and restrictions of stated jurisdictions shall not be applicable.
Product pricing
| Rate | Lien Based | Non-Lien Based |
|---|---|---|
| Variable Rates | SBP Floor+1.0% | 1 Year KIBOR+1.0% |
| Fixed Rates | Certificate of Deposit Rate (COD*) + 1% | Respective (PKRV**) + 1.5% |
*Prevailing Certificate of deposit rate of Bank AL Habib Mahana Munafa account for respective tenure to be applied.
**Respective PKRV of the last day of previous month to be applied.
Notes
- Current SBP Floor is 20% pa and is available at the following SBP link: https://www.sbp.org.pk/ecodata...
- KIBOR is published on a daily basis at the following SBP link: https://www.sbp.org.pk/ecodata...
- Pricing of the fixed rate loans remain unchanged till maturity of the loan. However, if market conditions change, banks can offer a revised price at the start of the financing period.
Below mention fixed rates are applicable for the month of November 2023
| Fixed Rates (Lien Based) | |||
|---|---|---|---|
| Tenure | COD Rate | Bank's Spread | Applicable Rate |
| 2 Year | 16.00% | 1.00% | 17.00% |
| 3 Year | 14.00% | 1.00% | 15.00% |
| 4 Year | 14.00% | 1.00% | 15.00% |
| 5 Year | 13.00% | 1.00% | 14.00% |
| Fixed Rates (Non-Lien Based) | |||
|---|---|---|---|
| Tenure | PKRV | Bank's Spread | Applicable Rate |
| 2 Year | 19.39% | 1.50% | 20.89% |
| 3 Year | 17.74% | 1.50% | 19.24% |
| 4 Year | 15.64% | 1.50% | 17.14% |
| 5 Year | 15.46% | 1.50% | 16.96% |
| 6 Year | 15.41% | 1.50% | 16.91% |
| 7 Year | 15.36% | 1.50% | 16.86% |
Insurance
| Without Tracker | With Tracker | Value Added Services (apart from comprehensive coverage-bumper to bumper) | |
|---|---|---|---|
| EFU | 1.40% | 1.99% | |
| 1.50% | 1.99% | Accidental death Coverage up to PKR 2.5 Million | |
| Jubilee | 1.75% | 1.99% | |
| 2.25% | 2.50% | 1) Full outstanding finance amount to be paid in the event of accidental death of Roshan Digital Account Holder. 2) Free Medical expense cover upto PKR 1 Million, in case of hospitalization of RDA holder for 30 days during stay in Pakistan. | |
| UBL Insurer | 1.40% | 1.89% | |
| 2.90% | 3.50% | Accidental death Coverage up to PKR 2.5 Million | |
| Adamjee | 1.50% | 1.99% | |
| 2.90% | 3.50% | 1) Accidental death Coverage up to PKR 2.5 Million 2) Health insurance plan up to 20.00% of vehicle or PKR 500,000 whichever is less 3) Online Medical consultancy 4) Travel Insurance Plan up to USD 50,000 | |
| Habib | 1.38% | 1.85% | 1) Accidental Death Coverage up to PKR 2.5 Million 2) Payment of full outstanding auto finance amount in case of RDA holder’s death 3) Travel Insurance Plan up to USD 50,000 4) Tracker Facility from A rated Company 5) Speedy Claim Approvals because designated surveyors has been deputed |
| Century | 1.75% | 2.25% | Accidental Death Coverage of principal amount or maximum up to PKR 2.5 Million |
Delivery time - by manufacturers ( Approx period )
| Manufacturer | Variants | Tentative Delivery Time | Offer by Manufacturer |
|---|---|---|---|
| Honda Atlas | City | 2 to 3 months | No Priority Delivery |
| Civic | 3 to 4 months | ||
| BRV | 2 months | ||
| Kia | Sportage | 3 months | Priority delivery up to half from the actual tentative delivery time |
| Picanto | 3 months | ||
| Carnival | 2 months | ||
| Sorento | 4 months | ||
| Indus Motors | Yaris | 2 to 3 months | Delivery time will be communicated as per manufacturer's confirmation |
| Corolla 1.6 & 1.8 | 6 to 7 months | ||
| Fortuner | 6 to 7 months | ||
| REVO | 6 to 7 months | ||
| Grande | 6 to 7 months | ||
| Pak Suzuki | Alto | 2 months | Delivery time will be communicated as per manufacturer's confirmation |
| Cultus | 4 months | ||
| Wagon-R | 2 months | ||
| Bolan | 2 months | ||
| Ravi | 2 months | ||
| Swift | 3 months | ||
| Hyundai | Tucson | 6 to 7 months | Stock available (subject to vehicle's colour availability) |
Co-Applicant
For Non-Resident RDA holder, Resident Pakistani shall be added as co-applicant for vehicle registration and legal documentation purpose.
Roshan Apni Car Tutorials
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Required Documents
- What documents are required for the Roshan Apni Car facility with application form ?
- Valid copy of CNIC / SNIC / NICOP / POC, Passport, Visa, and residency card / work permit.
- Recent photographs of applicant and co-applicant.
- CNIC copies of two references
- Credit report from country of stay (wherever possible).
- Detail of securities / certificates for lien based facility.
- Income related Documents.
- Latest 3 months salary slips.
- Latest employment certificate with the date of joining.
- Last six month bank statement with contact detail (email address) of bank/branch for verification; where salary is being credited.
- Contact detail (email address) of HR representative for verification of applicant’s credentials.
- Valid proof of professional setup / license / registration certificate.
- Last six month bank statement with contact detail (email address) of bank/branch for verification.
- Contact detail (email address) of business association / licensor for verification.
For Salaried Individuals:
For Self Employed Professionals / Business Individuals:
For lien based facility, credit report from country of stay, and income related documents shall not be mandatory.