Faysal Bank presents an easy, Shariah-compliant solution to owning your dream car through Faysal Islami Car Finance. Designed with speed, transparency, and convenience in mind, this financing option lets you drive your new vehicle sooner — all with complete peace of mind.
Apply now via the official portal:
https://apply.faysalbank.com/car-finance
How It Works: Based on Diminishing Musharakah
Faysal Islami Car Finance operates on the Islamic financing principle of Diminishing Musharakah, a medium- to long-term partnership model where:
- The bank and the customer jointly purchase the vehicle, establishing co-ownership.
- The bank leases its share of the vehicle to the customer.
- Over time, the customer gradually buys out the bank’s share, eventually becoming the sole owner.
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Key Features and Benefits
- Fast, easy application with approval in just 1 day
- Finance up to 70% of the vehicle’s value
- Choose from new or used vehicles, locally assembled or manufactured
- Flexible tenure options:
- 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 start only after vehicle delivery
- Options for partial pre-payment and early settlement
- Co-partner facility available
- Takaful coverage provided by reputable insurance companies
- Vehicle equipped with a tracker for added security
- Financing available for used vehicles up to 9 years old
- Property rental income can be 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 limits:
- Salaried: 21 to 65 years at loan maturity
- Self-employed: 21 to 70 years at loan maturity
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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 showing salary credit
- Employment certificate
- Copy of the latest utility bill
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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 relevant body (for SEPs)
- Copy of the latest utility bill
Ready to Drive Your Dream Car?
Don’t wait! Experience hassle-free, Shariah-compliant car financing with Faysal Islami Car Finance — now with 1-day approval and attractive rental rates. Stay tuned with Bloom Paksitan
Apply now: https://apply.faysalbank.com/car-finance/
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