Consumer Lending

Faysal Personal Installment Loan

Har Khwahish Possible!

Make your dreams come true with Faysal Personal Installment Loan. Now you can get a loan starting from PKR 50,000 and pay easy installments, as low as Rs.1,500 a month. So it’s time to fulfill your wishes as now all is possible.

Benefits:

Upgrade your lifestyle: Get what you want, may it be home appliances, a brand new watch or a smart phone.

Long awaited vacations: Choose an ultimate destination and travel around the world with your loved ones.

Educational expenses: Pay for your child’s education or enroll yourself for advanced studies or professional certifications.

House renovation: Build the house of your dreams by remodeling and enhancing existing spaces in the house.

Unexpected expenses: Take care of your unexpected expenses as well as consolidate your debt or outstanding bill amounts.

Spend with ease: Enjoy complimentary current account facility and a Faysal Pocketmate Visa Debit Card for cash withdrawal and shopping worldwide and much more.

Features:

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.

Repayment 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 without any pre-payment penalty at any point in time.

Partial Payment Facility: The product has a unique feature, where a customer can make balloon payment in order to reduce the outstanding loan amount. Moreover, at any point in time, you can reduce your outstanding amount by making balloon payment as per the following conditions:

  • The balloon payment can be made after 12 months (1 year) of the disbursal date.
  • The balloon payment can be made only once a year of up to 4 EMI (Equated Monthly Installment)
  • The customer will have to pay a processing charge of PKR 1,000.
  • After the adjustment of the loan amount, a new schedule will be printed and sent to the customer with same tenure but lesser EMI (Equated Monthly Installment)

Value Added Services:

Current Account: Get a complimentary Current account to use your PIL funds as you want. You can make any financial transaction with no minimum balance requirement.

Cheque Book: Get a complimentary cheque book along with your current account by visiting your nearest Faysal Bank branch for your transactional convenience.

Faysal Pocketmate Visa Debit Card: Enjoy a complimentary Faysal Pocketmate Visa Debit Card to withdraw cash from over 1,000 ATMs across Pakistan and over 900,000 ATMs worldwide, along with shopping convenience at millions of VISA merchants across the globe.

SMS Alerts: Subscribe for SMS alerts service to receive real time transaction alerts. You will receive an SMS upon transactions performed through:

  • Debit Card
  • Pay Orders
  • Account Transfers

To apply for Faysal Personal Installment Loan or further information, please call our Customer Interaction Centre at 111 06 06 06.