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Auto Finance


Barkat Auto finance is based on the principles of Diminishing Musharakah. This is a medium and long term financing product, where the Bank and the customer jointly purchase an asset and create joint ownership in the asset. The Bank rent out its share in the asset to the customer while the customer periodically purchases units of ownership in the asset from the Bank. After purchase of all the units, the customer becomes the sole owner of the asset.

Features & Benefits

  • Options to choose from a range of locally manufactured and imported vehicles that can be brand new or used
  • Quick processing with minimum documentation
  • Financing amount up to 85% of the value of the vehicle
  • Flexible tenures ranging from 12 to 60 months for payments.
  • Installments start after delivery of the vehicle
  • No processing fee until approval of financing
  • The bank will arrange Takaful for the vehicle from a reputable Takaful company and will facilitate you in claim processing.
  • Tracker will be installed in vehicles for maximum safety.
  • Up to 9 year old vehicle can be financed.
  • Income clubbing option with close relative.
  • Property rental Income can be considered as primary income or additional to the basic income.

Documents Required

For Salaried:

  • Application Form properly filled and signed by customer.
  • Current Salary Slip
  • Clear and Visible Copy of CNIC
  • 2 Recent Photograph (passport size).
  • SBP undertaking properly filled and signed by customer.
  • 6 Month’s Bank Statement, Where Salary Credits (Original / stamped & signed by bank)
  • Employment Certificate.
  • Copy of Latest Utility Bill

For Business Person / Self Employed Person:

  • Application Form properly filled and signed by customer.
  • One year Business Proof (Copy of NTN or Any Authentic Business proof).
  • Clear and Visible Copy of CNIC
  • 2 Recent Photograph (passport size).
  • SBP undertaking properly filled and signed by customer.
  • 6 Month’s Bank Statement,(Original / stamped & signed by bank)
  • Professional Degree and valid membership of applicable professional body (for SEP Only)
  • Copy of Latest Utility Bill

Eligibility Criteria:

  • Citizen Ship: Pakistan
  • Cities: KHI, LHR, ISL, RWL, SLA, FSD, MUL, HYD, PSH,
  • Income: Rs 30,000(For Salaried), Rs 40,000(For Branch Banking) & Rs 70,000 (For Non Branch Banking).
  • Age Limit: For Salaried (Min 21 Years and Max 65 Years at the time maturity), For SEB/SEP (Min 21 Year and Max 70 Years at the time of maturity).
Barkat Auto Calculator
phone

Call Us or Text Us

Our hotline is available 24X7

Tel: 111-06-06-06

Text 9181

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Nearest ATM & Branch

ATM - Bahria Town (Pvt) Ltd, Head Office, Customer Support Center, Super Highway, Karachi

Branch - Bahria Town (Pvt) Ltd, Head Office, Customer Support Center, Super Highway, Karachi