Car Installment Plan 2026
Pick a car and see its monthly installment at every bank in Pakistan, cheapest first.
Rates last reviewed: November 2026 · 1-Year KIBOR 10.89%| Bank | Rate | Monthly |
|---|---|---|
| NBP Hamsafar | 12.88% | 47,571 |
| MCB Car4U | 12.89% | 47,582 |
| Bank Al-Habib Car Finance | 13.39% | 48,119 |
| HBL CarLoan | 13.99% | 48,769 |
| BOK Car Finance | 14.39% | 49,205 |
| ABL Car Finance | 14.39% | 49,205 |
| Bank Alfalah Auto Loan | 14.39% | 49,205 |
| UBL Drive | 14.50% | 49,325 |
| Soneri Car Finance | 14.50% | 49,325 |
| Meezan Bank Car Ijarah | 14.89% | 49,752 |
| First Women Bank Car Finance | 15.00% | 49,873 |
| Habib Metro Car Finance | 15.00% | 49,873 |
| Sindh Bank Auto Finance | 15.50% | 50,425 |
| Askari Ijarah Bis Sayyarah | 15.50% | 50,425 |
| JS Bank Car Finance | 15.50% | 50,425 |
| Samba Bank Car Finance | 15.50% | 50,425 |
| Al Baraka Car Finance | 15.50% | 50,425 |
| DIB Auto Finance | 15.50% | 50,425 |
| BankIslami Car Finance | 15.50% | 50,425 |
| BOP Apna Car | 15.89% | 50,858 |
| Faysal Islami Car Finance | 15.89% | 50,858 |
| Summit Bank Car Finance | 16.00% | 50,980 |
| Silk Bank Car Finance | 16.00% | 50,980 |
All figures in PKR and indicative. KIBOR-linked rates use 1-Year KIBOR of 10.89% plus each bank's usual spread; your bank may quote a different spread after it checks your income and credit report. Insurance or takaful, tracker, registration and withholding tax are not included.
How to read this installment plan
Every row uses the same car, the same down payment and the same tenure, so the only thing that changes from one row to the next is the bank's rate. That makes the table a fair, like-for-like comparison: the bank at the top is the one that would charge you the least each month for this exact purchase, and the "total markup / rent" column shows how much more than the financed amount you would hand over by the end of the term.
Islamic banks do not charge interest. Under Ijarah the bank buys the car and rents it to you, and under Diminishing Musharakah you and the bank co-own it while you buy out its share. The monthly figure is a rental rather than a loan installment, but it is priced off the same KIBOR benchmark, which is why the amounts sit close to the conventional banks. If a Shariah-compliant product matters to you, switch "Banks to show" to Islamic only.
Why the down payment on some cars is more than 30%
Two State Bank of Pakistan rules shape every car loan in the country. The first is a minimum down payment of 30%. The second is a ceiling of PKR 3,000,000 on the total car financing one person can hold across all banks. On a car up to about PKR 4.3 million the first rule decides your down payment. Above that, 70% of the price would exceed the ceiling, so the bank finances PKR 3,000,000 and you pay everything else upfront. On a Honda Civic Oriel at PKR 8,834,000, for example, that means a down payment of roughly PKR 5,834,000.
The engine size matters too. Cars up to 1000cc, such as the Alto, Every and Cultus, can be financed for up to 5 years. Anything bigger, from the Swift and City up to the Corolla and Civic, is limited to 3 years, which pushes the monthly amount up. The calculator applies both limits for you.
Bank installment plans vs dealer and company schemes
Car makers and dealers sometimes advertise their own installment schemes, occasionally with a "0% markup" headline. These are usually run with a partner bank and the cost is recovered somewhere else: a shorter tenure, a larger down payment, a higher car price or upfront charges. Before you sign, put the scheme's down payment and monthly amount into this calculator. If a bank would finance the same car for less in total, the scheme is not the bargain it looks like.
Costs the monthly installment does not cover
The bank will add comprehensive insurance or takaful for the whole tenure, typically around 1.5% to 3% of the car's value each year, and most require a tracker with a yearly subscription. You also pay a one-time processing fee, registration, number plates and withholding tax at the time of purchase. Our guide to the real on-road cost of a car in Pakistan walks through each of these so the monthly figure does not catch you short.
Frequently Asked Questions
What is the monthly installment of a Suzuki Alto on a car loan in 2026?
With the Alto VXR at PKR 2,994,861 and the minimum 30% down payment, the bank finances about PKR 2,096,403. Over 5 years that works out to roughly PKR 47,571 a month at the cheapest bank in the table above, and a little more at the others.
Which bank has the cheapest car installment plan?
On current indicative rates, the banks at the top of the table above charge the least for the same car and tenure. Rates linked to KIBOR move every year, so compare again just before you apply and ask the bank for its quote in writing.
Can I get a 5 year installment plan on a Corolla or City?
Not under current SBP rules. Cars above 1000cc can be financed for a maximum of 3 years, so the monthly amount on a Corolla, City, Yaris or Civic is higher than a 5-year plan would suggest.
Is Meezan Bank's installment plan different from the table?
Meezan offers Car Ijarah, where you pay a monthly rental instead of an installment. The table uses Meezan's indicative rental rate. For a version with Meezan's own options, use the Meezan Bank car calculator.
Does the installment include insurance?
No. Insurance or takaful is charged separately, usually once a year or added to each installment, at roughly 1.5% to 3% of the car's value per year. Tracker charges and withholding tax are also extra.