ISLAMABAD (Kashmir English): Bank Alfalah has launched a new feature, Roshan Apni Car, for Roshan Digital Account holders through which overseas Pakistanis are able to finance a brand new locally manufactured vehicle in Pakistan.
This financing facility is also extended to acquiring a brand new Suzuki Cultus, pending meeting the bank’s eligibility and the vehicle’s requirements and specifications.
Under this facility, overseas Pakistanis can now buy a Suzuki Cultus on loan amounts from PKR 200,000 to PKR 7.5 million and tenure ranging from 2 to 7 years, allowing the loan to have a manageable monthly payment.
How to Apply
The link to apply is here:https://www.bankalfalah.com/roshan-apni-car/
The facility is available with standard financing needing a minimum of 15% equity. Alternatively, customers can opt for lien-based financing where 0% equity is required, subject to the terms and conditions.
The facility offers a completely digital application and approval process through which a Roshan Digital Account holder can avail of loan facilities without the hassle of managing physical processing in Pakistan.
For standard financing, Bank Alfalah applies a markup of 1-Year KIBOR + 1.00%. Lien-based financing is at a markup of 1-Year KIBOR + 1.00% but is linked to the applicable interest rate based on the floor rate. SBP floor rate 1.00% is the applicable markup for loans tied to 1-Year KIBOR.
Optional features available with the facility include loan insurance options such as health insurance, travel insurance, and accidental death cover benefits. Hence, the bank’s eligible Roshan Digital Account holder can now have a brand new Suzuki Cultus on financing.
Approval is subject to the eligibility of the customer as well as the vehicle, along with their respective terms and conditions.
