Bank of Punjab
Summary
The Bank of Punjab was established in 1989 and it functions as a scheduled commercial bank, with a network of 284 branches in major business centres throughout the country. It is in the list of best bank for car loan in Pakistan.
Car Financing Products
BOP’s leasing product is known as CARGAR. The bank promises minimum documentation requirements and flexible repayments to meet your individual needs.
1/2/3 Years ask side KIBOR+ 500 & 600 bps for salaried / BOP existing customer & SEB/SEP respectively. (KIBOR of respective tenure of 1,2 &3 years shall be used)
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Features and Benefits
- No hidden costs
- Financing up to Rs. 3 Million
- Highly competitive mark up rate
- Simple and easy documentation
- Easy and swift application processing with minimum turn around time
- Flexibility to Choose the Repayment Period up to 5 years. (12 to 60 months repayment)
Required Documents
- Following basic documents are required to apply for car loan through BOP Car Finance:
- Last 06 months’ Bank Statement
- Copy of CNIC/NICOP/ Smart NIC
- 2 recent passport size photographs
- Last two months’ Salary Slip or Salary Certificate, clearly indicating gross and net salary with details of all deductions
- Complete and duly signed “Application Form” with signature verification from branch.
Eligibility
- You are eligible for financing vehicle from Bank of Punjab if:
- You are Pakistani national
- You are 21 to 59 years old
- You are salaried individual working as permanent staff
- You are maintaining salary account with BOP for at least six months
- Your net monthly salary is Rs.80,000/- or more
- Your length of employment with current employer is minimum 03 years