ISLAMABAD: Good news for car users as United Bank Limited (UBL) has rolled out an attractive installment plan for KIA Picanto 1.0 AT under its UBL Drive scheme.
As per details, the car financing scheme includes affordable monthly installments and minimal upfront costs.
With low monthly installments starting at just Rs. 49,108, the customers can finance the vehicle at a fixed rate of 14.50%, based on a 50% residual value structure.
The remaining Rs. 2,758,000 can be financed with UBL over a flexible tenure ranging from 1 to 5 years. The total price of the KIA Picanto stands at Rs. 3,940,000, and to avail this offer, the company has fixed the down payment of Rs. 1,182,000.
KIA Picanto 1.0 AT UBL installment plan
| Variant | Vehicle Price | Down Payment | Financing Amount | Monthly Installment (Fixed) | Residual Value Installment (50%) |
| KIA Picanto 1.0 AT | Rs.3,940,000 | Rs. 1,182,000 | Rs. 2,758,000 | Rs. 64,891 | Rs. 49,108 |
The United Bank has fixed the markup rate for the Kia Picanto 1.0 AT variant at 14.50%.
The bank offers quick processing with minimal documentation and financing tenure extended from 1 to 5 years. This car financing from UBL also requires a minimum down payment with a residual value facility up to 50% of the vehicle price.
Eligibility Criteria under the UBL Drive scheme
For a salaried individual:
-
Pakistan National Identity Card Holder
-
Minimum Gross Salary of PKR 35,000
-
Minimum Age 21 years old and maximum 60 years old.
For self-employed business/profession:
-
Pakistan National Identity Card Holder
-
Minimum Gross Income of PKR 50,000
-
Minimum Age 21 years old and maximum 70 years old.
