First Car

First Car is designed to assist women from all walks of life to conveniently avail car loan facility from the bank. The scheme is specially designed for working women who often face problems in commuting to their workplaces. Women falling under these classes can apply for loan:

• Salaried
• Self employee (proprietor)
• Professional
• Business women

FWBL offers Financing up to Rs. 1.0 Million for new car and Rs. 0.5 Million
for secondhand / used cars (not over 3 years old model) for a maximum period of 5 years

Special Features of the Car Scheme

• Competitive financing rates
• Low down payment
• Flexible repayment option
• Quick processing
• Insurance coverage from reputable companies
• Low processing fee

Eligibility Criteria

• CNIC holder
• Not restricted to FWBL customers, any woman meeting criteria can apply for Loan singly or jointly with spouse
• Resident in cities like Karachi, Lahore, Islamabad and Peshawar are eligible to apply
• Ages between 21 and 60 years, at the time of maturity of finance

Security

• Car Financed will be marked under lien of the Bank at the Registrar’s records
• Vehicle will be secured by way of hypothecation
• Payment will be directly made to the Seller / Authorized dealer
• Loan will be further secured by way of Comprehensive Insurance of the vehicle covering all possible Risk

Salaried Women

• Permanently employed with corporate organization for at least two years
• Minimum take home salary Rs. 15,000 per month with a service contract valid for 18 to 60 months at the time of applying limit

Self Employed / Professionals

• A business woman or self-employed professional with a minimum experience of 3 years or more in same business or profession

Documentation

• Copy of CNIC
• 2 recent photograph
• Salary Certificate with details regarding date of joining, designation, experience and salary particulars / proof of profession
• Maintaining a bank account with any bank for at least 6 months
• Declaration of Proprietorship / Registered partnership deed
• Tax returns for past two years
• Business Proof along with financial statement for last two years
• Utility Bills / Bills of Mobile Phone / Credit Cards