🕌 Askari Ikhlas Islamic Banking
Askari Ijarah Bis Sayyarah
Calculator 2026
Shariah-compliant car leasing — AHM-EMI, Ijarah & Car Ijarah for Women. Fixed rental rate for the entire tenure. No Riba.
Fixed RateFull Tenure
2–5 YrsTenure
New & UsedLocal Vehicles
30%+Security Deposit
No RentalsBefore Delivery
FamilyIncome Clubbing
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Get Instant Estimates with Our Islamic Financing Calculator
Finance Amount
PKR 5,000,000
Tenure in Years
0 Years
05
Principal Grace Time (Months)
0 Months
012
Disbursement Date
Vehicle / Finance Amount—
Security Deposit / Down Payment—
Financed Amount—
Profit Rate (p.a.)—
Tenure—
Total Markup / Profit—
Total Amount Payable—
Repayment Schedule
| Month | Opening Balance | Profit / Rental | Principal | Monthly Installment |
|---|
📌 Note: Askari Ijarah Bis Sayyarah offers a fixed rental rate for the entire tenure — your payments remain consistent throughout. Rental starts only after vehicle delivery. Calculations are indicative and exclusive of Takaful and Tracker charges. For current fixed rates, contact Askari Bank at 111-000-787 or visit your nearest branch.
Askari Ijarah Bis Sayyarah — Overview
Askari Ikhlas Islamic Banking brings you Ijarah Bis Sayyarah — a fully Shariah-compliant car leasing solution designed with flexibility, transparency, and convenience in mind. Whether you are looking for a brand-new ride or a used car, the Ijarah facility makes it accessible through ethical, Riba-free financing.
A key advantage of Askari’s Ijarah is its fixed rental rate for the entire tenure — so your monthly payment stays the same from Day 1 to the final installment. No surprises, no rate revisions.
Fixed Rate — Full Tenure
New & Used Local Cars
Family Income Evaluation
No Rental Before Delivery
No Rental on Total Loss/Theft
Multiple Vehicles Allowed
Lowest Processing Charges
Special Women’s Product
100% Shariah Certified
How Ijarah Bis Sayyarah Works
Ijarah means “rent paid for the usufruct of an asset.” Askari Bank purchases the vehicle and leases it to you. You pay monthly rentals for using the bank’s asset. At the end of the tenure, you acquire ownership using the security deposit already held by the bank.
1
Bank Purchases
Askari Bank buys the vehicle from the dealer in full
2
Delivery & Rental Start
Vehicle is delivered to you — rental starts only after delivery
3
Monthly Rentals
You pay fixed monthly rentals throughout the tenure
4
Ownership Transfer
After final rental, you purchase the vehicle using your security deposit
🌿 Shariah Protections
- No RibaRental income — not interest — makes this fully Halal
- No Rental Before DeliveryUnlike conventional leases, you pay nothing until you receive the car
- Total Loss ProtectionIf vehicle is stolen or destroyed, Ijarah rentals stop immediately — security is refundable
- Charity for Late PaymentAny late payment charges go to charity — never to bank’s income
- Bank Bears Ownership RiskRisks of ownership remain with the bank throughout the Ijarah period
📋 Product Variants
- AHM-EMIAskari Home Musharakah EMI — finance amount with principal grace period option and disbursement date
- IjarahStandard car Ijarah — vehicle value, tenure (2–5 yrs), security deposit (30–70%)
- Car Ijarah for WomenExclusive product for women — same Ijarah structure with dedicated support and processing
- Fixed Rental RateAll variants now offer fixed rental rate for the entire tenure — no annual revisions
Eligibility Criteria
👔 Salaried Individuals
- Pakistani citizen with valid CNIC
- AgeMinimum 21 years; maximum 60 years at time of Ijarah maturity
- EmploymentMinimum 6 months in current organization
- Stable, verifiable income required
- Clean eCIB credit history required
- Family income evaluation available (parents, spouse, children)
🏢 Self-Employed / Business Persons
- Pakistani citizen with valid CNIC
- AgeMinimum 21 years; maximum 65 years at time of Ijarah maturity
- Business ExperienceMinimum 6 months in current business (salary account holders may get preferential terms)
- Verifiable business income required
- Clean eCIB credit history required
- Multiple vehicles allowed under one customer
Family Income Evaluation: Unlike most banks, Askari Ijarah allows clubbing of family members’ income (parents, spouse, children) to meet the eligibility threshold — making it easier for households to finance multiple vehicles.
Rates & Key Terms
| Parameter | Ijarah / Car Ijarah for Women |
|---|---|
| Rate Type | Fixed for the entire tenure (no annual revisions) |
| Tenure Options | 2, 3, 4 or 5 years (per SBP vehicle variant guidelines) |
| Security Deposit Range | 30% to 70% of vehicle value |
| Eligible Vehicles | New and used locally manufactured vehicles |
| Takaful | Shariah-compliant Takaful — not conventional insurance (exclusive of rental) |
| Tracker | Mandatory vehicle tracker — charges exclusive of rental |
| Rental Start | Only after physical delivery of vehicle to customer |
| Multiple Vehicles | Facility to acquire more than one vehicle |
| Early Settlement | Available — charges per prevailing Schedule of Charges |
| Contact | 111-000-787 (Askari Bank Contact Centre) |
* Current fixed rental rates available at any Askari Bank branch or by calling 111-000-787. Rates exclusive of Takaful and Tracker charges.
Frequently Asked Questions
What is Ijarah and how is it different from a conventional car loan?
Ijarah means “rental paid for the usufruct of an asset.” Askari Bank buys the car and leases it to you. You pay rent for using it — not interest on a debt. This is the key Shariah difference: the income is rental from a real asset, not Riba. In a conventional loan, you pay interest on borrowed money, which is forbidden in Islam.
Is the rental rate fixed or can it change?
Askari Ijarah Bis Sayyarah now offers a fixed rental rate for the entire tenure. Once your rate is set at approval, it will not change — whether you take 2, 3, 4, or 5 years. This gives you complete payment predictability unlike KIBOR-linked variable-rate products.
When does my rental payment start?
Rental starts only after the vehicle is physically delivered to you. Unlike conventional leases where installments begin the moment the bank pays the dealer, in Ijarah you pay rent only when you actually have the car in your possession. This is a key Shariah-compliance feature.
What happens if my car is stolen or destroyed?
If the vehicle is stolen or completely destroyed through no fault of yours, Ijarah rentals stop immediately — unlike conventional leases where you keep paying. Your security deposit is also refundable in this case. However, this protection does not apply if the loss was due to your misconduct or negligence.
How do I become the owner of the vehicle at the end of tenure?
Once all Ijarah rentals are paid, Askari Bank gives you the option to purchase the vehicle using the security deposit you paid at the start. The security is applied as the purchase price, transferring full ownership to you without any additional payment.
What is Car Ijarah for Women?
Car Ijarah for Women is a dedicated Ijarah product under Askari’s Islamic Sahar banking platform, designed specifically for women customers. It offers the same Shariah-compliant Ijarah structure with tailored support and processing for women applicants. It is available through Askari’s Islamic Sahar branches.
Ready to Apply for Askari Ijarah Bis Sayyarah?
Calculate your rental above, then apply online or visit your nearest Askari Bank branch.