1. Branches Offering Car Finance
All BOK Conventional Branches

2. Eligibility Criteria

a) Nationality
All Pakistani residents holding valid computerized National Identity Card

b) Age of applicant
21 to 55 years for salaried person and 21 to 60 years for businessman / self employed persons.

c) Period of Employment/ Engagement in business or profession
Salaried persons having an employment history of at least 2 years or more. Self employed and business persons engaged in profession or business for at least 3 years.

d) Income
i) Salaried Persons
Monthly take home salary should be 2/3rd times of the amount of monthly installment.
ii) Self Employed/Business Persons
Average monthly verifiable income should be 3 times of monthly installment. Individuals who earn less than Rs. 15,000/- per month or Rs. 180,000/- per annum shall not be eligible for financing.

3. Maximum limit
Rs.1.20 Million

4. Down Payment
Minimum Down Payment for the facility will be 20%.

5. Pricing Criteria
Risk Rating Based
For Example: Six Months KIBOR + 500 BPS with a floor rate of 18%.
The mark up will be revised on 1st January and 1st July each year according to the KIBOR rate at that day.

8. Title of the Vehicle
Title of the vehicle shall be joint i.e. The Bank of Khyber and the Client.

9. Schedule of Charges
• Processing charges Rs. 2,500/-
• Early termination / settlement charges – to be calculated on daily product basis
• Re-possession charges as Actual.

10. Required Documents
• Clients request
• Borrower Basic Fact Sheet
• e-CIB
• Account statement for the past 6 months
• Application of finance on prescribed format
• Proof of income i-e salary slips, income tax return or affidavit, whichever is applicable
• Attested photocopy of valid CNIC
• 01 passport size color photograph
• Copy of Valid Driving License
• Quotation from authorized dealer.
• Copy of valid CNIC & income proof of guarantor

11. Repayment Frequency
• Monthly installments through post dated cheques
• Time Period 01 – 05 years

12. Penalties etc
A penalty of 2% over and above the levied mark up will be charged on each delayed installment.

13. How to Apply
Through BOK Conventional Branches where application form is available in all branches.