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Car finance · Pakistan

Car Loan & Installment Calculator Pakistan (2026)

Every bank’s published car-financing terms, the State Bank’s limits, and the real monthly installment for each locally assembled car.

Lowest published 3-year rate today: 14.75% (Meezan Bank Car Ijarah). Most affordable plan: the Suzuki Every at Rs 51,073/month.

  • Rates checked 2 October 2026
  • 4 banks with published rates
  • 40 cars
1-year KIBOR
12.54%
1 October 2026
Most a bank can lend
Rs 3,000,000
Per person, SBP
Minimum down
30%
More above Rs 4,285,714
Longest tenure
5 years
3 years above 1000cc

Installment calculator

Calculate your monthly installment

Choose any locally assembled car, then a bank, tenure and down payment. SBP limits are applied automatically.

  1. 1Choose a car

  2. 2Variant

  3. 3Bank

  4. 4Tenure

    Up to 3 years for this car

    SBP limits cars above 1000cc to 3 years.

  5. 5Down payment

    55% · Rs 3,354,450
    Min 55%90%

    The minimum is 55%, not 30%. Banks can lend at most Rs 3,000,000 per person (SBP), so the rest of the Rs 6,099,000 price is paid upfront.

55% down · 36 months · Meezan BankRs 108,131/ monthBreakdown

Same plan at every bank

Toyota Corolla Altis X Manual 1.6 · 3 years · 55% down (or each bank’s minimum)

Meezan’s rental already includes takaful and tracker; conventional banks charge insurance separately at their panel rates.

Bank rates today

Car financing rates in Pakistan

Based on 1-year KIBOR of 12.54% on 1 October 2026. Tap a bank for its calculator and terms.

Rate quoted at application

These banks publish their terms but not a standard rate — ask for the key fact statement.

By car

Installment plans by car

With banks capped at Rs 3,000,000 per person, most cars above 1000cc cost about the same each month over 3 years — what really changes is how much you pay upfront. Locally assembled cars only; entry variant at its minimum down payment.

How much can you pay upfront?

The rules

What every bank in Pakistan must follow

  • Loan limit

    Rs 3,000,000

    Per person, across all banks combined.

  • Minimum down payment

    30%

    Higher on cars above Rs 4,285,714, to stay within the limit.

  • Longest tenure

    5 / 3 years

    5 years up to 1000cc, 3 years above.

  • Imported cars

    Not eligible

    New and used imports cannot be bank-financed.

Buyer’s guide

Car financing in Pakistan, explained

Four State Bank rules decide what any bank can offer. Loan limit: Rs 3,000,000 per person across all banks. Down payment: at least 30% — and more on any car above Rs 4,285,714, because the rest must stay within the limit. Tenure: up to 5 years for 1000cc and below, 3 years above. Imports: new and used imported cars cannot be bank-financed. On top of that, all your loan payments together must stay under 40% of take-home pay.

Conventional car loans (Bank Alfalah, UBL, Bank AL Habib) charge markup on a reducing balance, usually as 1-year KIBOR plus a fixed spread, reset with KIBOR. Insurance is paid separately to the bank’s panel insurer. Meezan Car Ijarah is a lease: the bank owns the car and rents it to you at a fixed 14.75% for one to five years, and the monthly rental already includes takaful and the tracker. BankIslami uses Diminishing Musharakah, where you buy the bank’s share in instalments.

Many sites still show 7-year plans, 15% down payments or KIBOR from last year. Seven years and 15% down ended with the 2021–22 SBP rules; a five-year plan is only possible on cars up to 1000cc. And on a car like the Corolla, the Rs 3,000,000 limit pushes the minimum down payment above 50%. Every figure here is calculated from the bank’s own published terms and today’s KIBOR.

Registration, token tax and withholding tax are paid upfront — see the on-road price page for each car. Conventional banks also add comprehensive insurance from their panel insurers (published Islamic takaful rates are 1.5% at Meezan and 1.49% at BankIslami; conventional banks quote at application) and a processing fee. Ask for the key fact statement before you sign: it lists the APR, every fee and early-settlement charges.

FAQ

Car loan questions

Rates checked 2 October 2026 from the State Bank of Pakistan and each bank’s own website · 14 official sources

1-year KIBOR 12.54% (1 October 2026). Figures are indicative — the bank confirms the final rate, insurance and fees in its key fact statement. Prices are ex-factory; banks finance the invoice price, which may include freight. Bank names and logos belong to their owners and are shown only to identify each bank; Watan Motors is not affiliated with any bank.