Side-by-side comparison of rates, max financing, tenure and product type. Sort and filter to find your best option.
Choosing a car loan in Pakistan isn't just about picking the lowest advertised rate — the right bank for you depends on whether you want a conventional (interest-based) loan or a Shariah-compliant Islamic product, how much you can put down upfront, how quickly you need approval, and whether the bank's maximum financing limit covers the car you actually want to buy. The table below pulls together rate, financing limit, tenure and product type for all 24 major banks currently offering car financing in Pakistan, so you can shortlist 2-3 options before visiting a branch.
Use the filter buttons to narrow the list to Islamic-only, conventional-only, or banks offering both — then click "Calculate" next to any bank to open its full calculator with eligibility criteria, required documents, and a detailed payment breakdown.
⚠️ Rates shown are indicative estimates based on publicly available bank information and current KIBOR levels. Actual rates, fees and eligibility depend on your profile and are confirmed by the bank at time of approval. This page is not financial advice — always verify directly with the bank before applying.
Conventional vs Islamic Car Financing — Which Should You Choose?
A conventional car loan charges markup (interest) on the outstanding principal — the bank lends you money and you repay it with interest over time. This is the most common structure, offered by banks like HBL, UBL, MCB, Bank Alfalah and most others on this list.
An Islamic car finance product — offered by Meezan Bank, Faysal Islami, Askari Ijarah, NBP Aitemaad, BankIslami, Al Baraka, Dubai Islamic Bank and others — is structured under Ijarah (leasing) or Diminishing Musharakah (joint ownership), avoiding Riba (interest) entirely. Your monthly payment is rental and/or a gradual buy-out of the bank's ownership share, certified by each bank's Shariah Supervisory Board.
Both structures typically land in a similar effective monthly cost for a given rate — the difference is primarily about religious compliance and the underlying legal structure, not necessarily which one is "cheaper." Compare the actual rate/spread on this page rather than assuming one category is automatically less expensive than the other.
Frequently Asked Questions
How accurate are the rates shown here?They're indicative estimates based on publicly available information and recent KIBOR levels, refreshed periodically. Bank-specific rates can change based on your income profile, vehicle type and prevailing KIBOR — always confirm the exact figure with the bank before applying.
Can I apply to more than one bank at a time?Yes, there's no rule against comparing offers from multiple banks simultaneously. Just be mindful that each formal application may trigger a credit bureau (eCIB) check.
What's the real difference between "KIBOR + spread" and a fixed rate?A fixed rate never changes during your loan tenure. A KIBOR-linked variable rate is recalculated — usually annually — based on the prevailing KIBOR at that time, so your installment can rise or fall.
Why do maximum financing limits differ so much between banks?Each bank sets its own risk-based lending limits, and SBP regulations also cap aggregate auto financing per individual (typically PKR 3,000,000 across most banks combined for standard products), though some banks offer higher limits for premium or overseas-Pakistani products.