To review all aspects of Askari Bank Car Loan Calculator 2018 and policy, you can consult this source. This bank has been offering auto loan for new cars, used vehicles as well as for imported vehicles. It is on easy installment procedures that you can avail this car loan schemes. Their auto finance scheme is named as (Ask4Car). If you have a minimum income range of Rs 25,000 then you can apply for this scheme. Furthermore, you can use their loan calculator and then you can build a mind that how much facilitation will be given to you.
- Askari Bank Car Loan Policy
- This scheme is available for those vehicles which should not be older than that of 7 years.
For new vehicles, a minimum 20% equity will be required. On the imported vehicles, note that the minimum 30% of equity amount will be required. For the used vehicles, minimum 30% equity amount is needed.
- Parents or spouse and son, they can be marked as co-borrowers. If rests of the options are not available, then brother or sister can be considered too in the category of co-borrowers. It is mandatory and important for all applicants that they have to present their credit information to Electronics Credit Information Bureau (ECIB).
Your debt burden should not exceed 50% of your gathered net disposable income. Annual mark up will be applied on this Askari Bank car loan scheme. For commissioned officers, 12 months Kibor and 1.5% markup, 12 months Kibor and 2% markup will be applied. Then for the non commissioned staff, 12 months KIBOR including 3% markup will be included.
Financing Tenor for Askari Bank Car Loan Scheme
- The financing tenure will be from 1 to 7 years.
- For a permanent employee, your minimum income should be Rs. 25,000. For a contractual employee, your minimum salary has to be Rs. Rs.40,000 .
Required Documents for Askari Bank Car Loan Scheme
All salaried individuals should attach attested copy of their CNIC. Only, one passport size photograph and original salary slips and their attested photocopies of the last two months. You will be attaching last 6 months bank statement of yours.