Islamabad, July 28, 2025: BankIslami has introduced a limited-time offer for zero-interest EV loans in Pakistan, specifically for Inverex electric vehicles. This one-year auto finance plan is based on a Shariah-compliant model, aiming to promote eco-friendly mobility through interest-free and accessible vehicle financing.
Key Features of the Offer
Customers can avail up to Rs. 2 million in financing for brand-new Inverex EVs through BankIslami Auto Finance. The tenor is fixed at one year with no profit charges. However, a Takaful fee of 1.25% is applicable.
The program is structured by Islamic financing principles using the Diminishing Musharakah model. In this model, the vehicle is jointly owned by the bank and the customer, with ownership gradually transferred to the customer through scheduled payments.
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Eligibility Criteria
The offer is only valid for factory-new Inverex electric vehicles. All financed cars must be fitted with a bank-approved tracker. Takaful coverage is mandatory through one of BankIslami’s partner providers. The required equity share from the applicant ranges from 30% to 90% of the vehicle price, depending on credit evaluation.
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Who Can Apply
Pakistani citizens between the ages of 18 and 65 (for salaried individuals) or up to 70 (for self-employed) are eligible. Applicants must provide CNIC, updated bank statements, proof of income (salary slip or business proof), and proof of equity contribution.
BankIslami offer presents an excellent chance for consumers to own an electric vehicle through interest-free electric vehicle financing in a Halal and flexible way.
