The financing rate being offered is variable subject to change after every year. The variable rate is pegged with SBP 01 Year KIBOR + spread of 1.99% + Takaful + Advance Period Profit (if any) + Registration Cost (if any) for Salaried Employees (Contractual & Permanent) and 01 Year KIBOR + spread of 2.20% + Takaful + Advance Period Profit (if any) + Registration Cost (if any) for Self Employed Professional (SEP), Self Employed Businessman (SEB), Other Income Groups (OIG) and Non-Resident Pakistani’s (NRP). Exclusive discounts are also available for women customers under Amirah Account including 50% waiver of processing fee, 50% waiver charges of early settlement / termination and discounted rate of 1 year KIBOR + 1.5% .

Installment payments will be deposited by customer into his / her non-checking / repayment account maintained at NBP Aitemaad Islamic Banking Branch. However, Two (02) Undated Security Cheques will be collected with expected total receivable amount (including total financing amount and total rental amount) equally divided from Customer as Security.

Repayment will be structured in equal monthly installments (arrears) comprising of rental payments, Musharakah units (as per the repayment schedule & undertaking to purchase Musharakah units) and monthly Takaful payments (if any). The schedule will be revised if there is change in 01 year KIBOR rate on financing anniversary i.e. after every 12 installments.

Partial payment will be allowed after 01 year and once a year only with 5% charge on buyout units price mentioned in Undertaking to Purchase (UTP). Partial payment should not be more than 50% of outstanding balance amount. In case of early payment, 5% charge will be applied on outstanding balance amount.

All charges / fees will be updated under NBP Aitemaad - Schedule of Charges (SOC) from time to time and will be shared on the website.

Note: Available cities: The financing facility is currently available in Karachi, Lahore, Islamabad/Rawalpind, Multan, Faisalabad, Peshawar, Sialkot and Gujranwala