Auto Loan Calculator
107,083
Rs. Rs. 3,500,000
Rs. Rs. 1,500,000
Rs. Rs. 10,417
Rs. Rs. 2,299,972
Rs. Rs. 7,924,972
This calculator provides an estimated EMI. Actual bank offers may vary due to floating KIBOR rates, processing fees, tracker charges, and exact days in the month. Car insurance is mandatory for auto loans in Pakistan and is typically bundled into your monthly payment.
The Ultimate Guide
Understanding Car Financing in Pakistan
Auto loans (or Car Ijarah in Islamic banking) allow you to pay for a car over several years. The bank purchases the car and leases it to you, or lends you the money against the car as collateral.
Interest Rates (KIBOR)
Banks usually charge a floating rate linked to the Karachi Interbank Offered Rate (KIBOR) plus a bank margin (e.g., KIBOR + 3%). If KIBOR changes annually, your monthly installment may be revised.
Mandatory Insurance (Takaful)
Banks require comprehensive insurance (or Takaful) to protect the asset. This usually costs 1.5% to 3% of the car's value annually. The calculator assumes the insurance cost is spread over 12 months and added to your EMI.