Loan amount: Get loan amount starting from PKR 50,000 up to PKR 500,000 (can be up to PKR 2 million subject to the Income and Debt Burden Ratio (DBR).
Flexible Tenure: Ease your repayment by choosing a period ranging from 12 to 60 months, depending on your need.
Pricing option: Have the financial comfort by choosing from fixed or floating mark-up rate options:
- Fixed mark-up rate: The mark-up rate will remain fixed throughout the tenure of the loan.
- Floating mark-up rate: The mark-up rate will be fixed for 12 months and will be renewed annually. The floating rate depends on two components (K and M), where K (Karachi Inter Bank Offer Rate) is based on 12-months and can fluctuate while M (Margin) remains the same.
Pre- payment option: In case you intend to repay the loan before maturity, a pre-payment price of 5% of outstanding loan amount will be charged as a pre-payment penalty. However, the customer can choose for a 0% pre-payment option by paying an extra 1% mark-up from the beginning. By choosing this option, you can pay off your complete outstanding amount after 6 months of disbursal without any pre-payment penalty.
Personal Installment Loan Schedule
PIL Welcome Pack will contain the PIL repayment Schedule.
If you have opted for fixed rate option, same schedule will be valid throughout the tenor of the loan and installment amount will remain the same.
If you have opted for floating rate option, your schedule will be renewed every year and the installment amount will vary in accordance with KIBOR, margin will remain the same.