Acquiring your ideal vehicle may seem like an aspirational objective, but HBL Islamic Car Finance 2026 facilitates its realization through a Shariah-compliant and methodical process. Designed for both salaried professionals and business owners, it enables you to progressively acquire your vehicle through Diminishing Musharakah, transforming your automotive aspirations into reality without financial burden.
Who Can Apply for HBL Islamic Car Finance?
HBL has different requirements for salaried individuals and business owners:
Salaried Individuals:
- Pakistani national
- Age: 22 to 60 years
- Minimum monthly income requirement: PKR 35,000
- A minimum of six months in the current position
Business Owners / Self-Employed Professionals:
- Pakistani national
- Age: 22 to 70 years
- Minimum monthly income requirement: PKR 35,000
- Professional experience: 1–2 years
Tip: Make sure your income and experience match HBL’s requirements for faster approval.
Documents Needed:
Prior to submitting your application, please ensure these documents are prepared:
For Salaried Individuals:
- Copy of National Identity Card
- Two recent passport-sized photographs
- Recent salary stub (original or duplicate)
- Bank statements for the past three months
For Business Owners / Professionals:
- Copy of National Identity Card
- Two recent passport-sized photographs
- Bank statements for the past six months, duly signed and certified
- Business verification documents: NTN certificate, tax returns, or chamber of commerce membership.
Pro Tip: Scan all documents in advance for online or in-branch submission.
Features of HBL Car Finance 2026:
- Financing Limit: PKR 200,000 to PKR 3,000,000 (subject to bank policy)
- Tenure:
- 1–5 years for cars up to 1000cc
- 1–3 years for cars above 1000cc
- Islamic Insurance (Takaful): Mandatory, available from HBL-approved providers like EFU, Adamjee, TPL
- Down Payment: Minimum 30–50% of car price
- Ownership Structure: Gradual purchase of bank’s share (Diminishing Musharakah)
Tip: Use HBL’s online Car Finance Calculator to estimate monthly installments.
How to Apply for HBL Islamic Car Finance?
- Estimate Your Installments: Begin by utilizing HBL’s Car Finance Calculator available on their official website.
- Submit Application: Submit your application electronically through the HBL Mobile App or visit an Islamic Window / branch.
- Pay Processing Fee: Approximately PKR 13,000 plus applicable FED (non-refundable).
- Verification: The bank will verify your place of residence and employment.
- Approval and Vehicle Delivery: Upon approval, please submit the down payment; the bank will then proceed to reserve your vehicle.
Pro Tip: Ensure all documents are complete and up-to-date to avoid delays.
Conclusion:
HBL Islamic Car Finance 2026 provides a Shariah-compliant method for acquiring your desired vehicle through a gradual purchase plan. With well-defined eligibility criteria, requisite documentation, and adaptable financing solutions, the process remains straightforward for both salaried and self-employed individuals. Utilizing resources such as the Car Finance Calculator and adhering to the application procedures guarantees a seamless approval process and a hassle-free experience in vehicle ownership.
Frequently Asked Questions:
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How is verification done?
The bank will verify your residence and employment details before approval.
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How is verification done?
The bank will verify your residence and employment details before approval.
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Is Islamic insurance (Takaful) mandatory?
Yes, Takaful is required and must be obtained from HBL-approved providers such as EFU, Adamjee, or TPL.