About Scheme
“A lease facility for Self-Employed Businessmen (SEB), Self-Employed Professionals (SEP) and Salaried Individuals (SI) for the purchase of locally manufactured / assembled / imported and re-conditioned/un registered vehicles for their personal use”
Can I Avail Car Lease Facility?
Yes, if you are Salaried Person, Businessman and Professional maintaining salary/business account with any bank.
How Much Lease Facility Can I Avail
Minimum Rs.200,000/- Maximum Rs.5,000,000/- Monthly Installment(s) should not exceed 50% of disposable income
What is the Tenure of Lease ?
Minimum: 01year
Maximum: 05 years
What is the Markup Rate ?
1/2/3 Years ask side KIBOR+ 400 bps with floor of 17%p.a. (KIBOR of respective tenure of 1,2 &3 years shall be used)
What Other Charges Do I Have To Pay ?
- Processing Charges (Non-Refundable) = Rs. 5,000/- (Non-Refundable)
- E-CIB Charges =At actual (Upfront / Non-Refundable)
- Verification fee upfront = Rs.1,000/- (Upfront / Non-Refundable)
- Documentation Charges = Actual
- Insurance Rate = Actual charged by Insurance company
- Registration Charges = Actual. Payable directly by the customer
- Late payment Penalty = 5% on the amount of installments per day for the days the amount remains overdue. Max. Rs.1,500/- per installment.
Pre-payment Penalty = @ 5% on outstanding principal. However, no penalty shall be charged if the client repays in order to obtain finance for new vehicle
What is the Eligibility Criteria of BOP Car Lease Facility ?
- Age between 25 and 59 Years or retirement date; whichever is earlier
- Permanent Employee with Minimum 03 Years of job Experience including 01 year with current employer.
- Age between 25 and 59 Years for Self Employed Businessmen/Professionals
- Minimum 03 Years in current business.
- Maintaining Salary/ Business Account in any bank.
- Have valid CNIC
What Documents Are Required ?
- Copy of valid CNIC
- Valid Driving License
- Two Recent Photographs
- 01 year Bank Statement for SEB/SEP and 06 Months Bank Statement for Salaried Persons.
- Latest Copy of utility bills (Electricity or phone or Gas)
- Income Tax Return/Wealth Statement OR Non-Tax Payees Form, if applicant is a non-tax payer
- Documentary evidence in business or in the profession for the last 03 years
- Copy of professional degree for self-employed professionals
- Proprietorship Certificate/Partnership Deed in case of Self Employed Businessmen.
How Can I Avail The Facility ?
Download application form ==> Attach required Documents & send to nearest Consumer Financing Centre (CFC)
OR
Contact our nearest Consumer Financing Center (CFC)
OR
Email your contact number at rfd@bop.com.pk
