What is the difference between Fixed and Variable rate in UBL Drive?

Fixed stays the same throughout; Variable is linked to KIBOR and revised annually.

What is the minimum down payment for UBL Drive?

The minimum down payment is 30% of the vehicle value.

🚗 UBL Drive — Conventional Car Financing

UBL Car Loan Calculator 2026

Q: Can I finance a used or imported vehicle?

Yes, UBL Drive covers new, used and imported vehicles.

Estimate your monthly installments instantly. Fixed & Variable rates. Apply online in minutes.

14–17%Interest Rate p.a.

1–5 YrsTenure

30%+Min. Down Payment

PKR 5MMax Financing

UBL Drive Calculator

Fill in the details below to get your estimated monthly payment · Apply Now ↗

Product Type

Filer Status

Segment

What is UBL Drive?

UBL Drive is United Bank Limited's consumer car financing product that lets you purchase a new or used vehicle on easy monthly installments — new, used and imported vehicles, up to PKR 5,000,000 per car. Offers both Fixed and Variable (KIBOR-linked) rate options with tenure of 1 to 5 years. A free tracker is included.

Eligibility Criteria

👔 Salaried Individuals

Age: 21–60 years at maturity
Minimum 6 months employment history
Minimum monthly take-home income: PKR 35,000
DBR must not exceed 50% of net income

🏢 Self-Employed / Businessmen

Age: 21–65 years at maturity
Minimum 2 years in current business
Minimum monthly income: PKR 50,000
DBR must not exceed 50% of net income

Interest Rates & Charges

Type	Customer	New Vehicle	Used Vehicle
Fixed Rate	Existing Customer	~14.5% p.a.	~15.0% p.a.
Fixed Rate	New to Bank	~15.0% p.a.	~15.5% p.a.
Variable Rate	Existing Customer	KIBOR + 3%	KIBOR + 3.5%
Variable Rate	New to Bank	KIBOR + 3.5%	KIBOR + 4%

* Rates are indicative — verify current rates from UBL before applying.

Frequently Asked Questions

What is the difference between Fixed and Variable rate?

A Fixed rate stays the same throughout your loan tenure. A Variable rate is linked to KIBOR and can move up or down annually.

What is the minimum down payment?

30% of the vehicle value; you can choose up to 70% to reduce your monthly installment.

Can I finance a used or imported vehicle?

Yes — UBL Drive covers new, used and imported vehicles. Rates may be slightly higher for used vehicles.

What extra cost applies for Non-Filers?

Non-filers pay an additional 4% Advance Tax on vehicle price at disbursement.

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