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Key Fact Sheet (KFS)
Important Note for Customers

Type of Vehicle New / Used locally assembled / manufactured vehicles including Light Commercial Vehicles

(Maximum age of vehicle should not be more than 9 years old at the time of financing and 12 years at the time of maturity of financing.)
Cost of Vehicle New / Used including Light Commercial Vehicle PKR 1.0 Mn (Min.) to PKR 15.0 Mn (Max.) including customer share / advance rental

The minimum financing amount should be PKR 500,000/-.
Per Party Exposure Overall auto financing limits availed by one person from all banks/DFIs, in aggregate, shall not exceed PKR 3.0 Mn at any point in time for over 1000 cc.)
Financing Tenure New / Used including Light Commercial Vehicle – Upto 1000 cc 1 Year (Min.) to 7 Years (Max.)

New / Used including Light Commercial Vehicle – Over 1000 cc 1 Year (Min.) to 5 Years (Max.)
Customer Share as Equity New including Light Commercial Vehicle - Upto 1000 cc: 15% (Min.) to 80% (Max.)

Used including Light Commercial Vehicle – Upto 1000 cc: 20% (Min.) to 80% (Max.)

New/Used including Light Commercial Vehicle–Over 1000 cc: 30% (Min.) to 80% (Max.)
Debt Burden Ratio 50% of Net Monthly Income (Max.) – for Vehicles upto 1000 cc

40% of Net Monthly Income (Max.) – for Vehicles over 1000 cc

Shariah Compliant Structure

Aitemaad Hamsafar Auto Finance is structured on the basis of Shariah compliant mode 'Diminishing Musharakah (DM)'. Diminish mean 'Reduce' and Musharakah mean 'Partnership' Diminishing Musharakah (DM) is that form of partnership wherein Customer and Bank contributes their fund for purchasing the vehicle(s). After taking possession of purchased vehicle(s), Customer pays rental and simultaneously purchases the share of Bank gradually through Installment Payments until Customer becomes 100% owner of the purchased vehicle(s).

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