Secured Personal Finance against Own Vehicle

Overview

Turn your car into an opportunity with Askari Bank’s Secured Personal Finance against Own Vehicle. This unique financing solution allows you to unlock the value of your existing vehicle while you continue to use it for your daily needs.

With a simple Hypothecation (HPA) marking in favor of Askari Bank Limited, your vehicle remains in your custody. You may apply for Secured Personal Finance against Own Vehicle to give the best education to your child, plan a perfect wedding, decorate your sweet home, consolidate debts, visit your favorite destination, buy a much-desired gadget and more!

This product combines flexibility, convenience and security, giving you the confidence to meet your goals without parting ways with your vehicle.

Key Features

Financing Amount: PKR 50,000 to 7,000,000 (subject to 70% of force sales value of vehicle within applicable DBR).
Flexible Loan Tenor: 1 to 4 years.
Loan top-ups facility available after 3 months.
Type of vehicles to be allowed:
- Used vehicles
- Imported Vehicles (if allowed by SBP)
Competitive markup rate.
Mark-up Options: Fixed and Variable.

Eligibility Criteria

Anyone eligible for Askari Personal Finance can also apply for Secured Personal Finance against Own Vehicle.
Minimum income: PKR 25,000/month.
Vehicle Ownership: Must be owned & possessed by the borrower.
Vehicle Age: At time of approval, max 4 years subject to the condition that age of the vehicle should not exceed 08 years at time of loan maturity.
Facility will be allowed against only original documents of vehicle, “NO” duplicate documents will be accepted.

Documents

Application form duly filled in all respects.
Copy of valid CNIC.
Salary Slip / Salary Certificate.
6-month bank statement for salaried individuals (12-month for businessmen).
Contract letter (For contractual employees).
Copy of vehicle’s registration document / Smart Card.
Police report 15/Vehicle Verification Report.

How to Apply

You can apply by visiting our Branches or by calling our 24-hour Contact Center at 051 111-000-787. Our dedicated staff will help you complete your loan application form and other formalities.

You can also submit your details here, our staff will contact you.

No documents available.

First Name *

Last Name

Email *

Mobile Number *

CNIC Number *

Date of Birth *

Account with Askari Bank *

Product Name

Alternate Number

City *

Branch *

Net Income

Submitting this form does not guarantee approval.