Car Loan Calculator
Pakistan 2026
Compare 24 banks instantly. Calculate monthly installments for Islamic & conventional car financing. Updated monthly with latest KIBOR rates.
Quick Car Loan Calculator
Select bank · Adjust price & tenure · Get instant estimate
24 Bank Calculators — One Platform
Click any bank to calculate your exact monthly installment with their current rates, fees, and eligibility criteria.
Bank Car Finance Rates — Pakistan
Based on 1-Year KIBOR of 10.89% (March 2026). Rates are indicative — verify with bank before applying.
📊 Car Finance Rates — All Banks
| Bank | Type | Rate Type | Effective Rate | Min Down | Max Finance | Max Tenure | Details |
|---|---|---|---|---|---|---|---|
| NBP Hamsafar Lowest | Islamic | Variable (KIBOR+1.99%) | ~12.88% | 15% | PKR 10M | 7 Years | Calculate → |
| HBL CarLoan | Conventional | Fixed | 13.99% | 30% | PKR 10M | 5 Years | Calculate → |
| MCB Car4U | Conventional | Variable (KIBOR+2%) | ~12.89% | 15% | PKR 6M | 5 Years | Calculate → |
| Meezan Bank | Islamic | Variable (KIBOR+4%) | ~14.89% | 15% | PKR 3M | 7 Years | Calculate → |
| Bank Alfalah | Conventional | Variable (KIBOR+3.5%) | ~14.39% | 30% | PKR 3M | 3–5 Years | Calculate → |
| Soneri Bank | Conventional | Fixed | 14.50% | 30% | PKR 3M | 3–5 Years | Calculate → |
| Faysal Islami | Islamic | Variable (KIBOR+5%) | ~15.89% | 30% | PKR 3M | 5 Years | Calculate → |
| UBL Drive | Conventional | Fixed/Variable | ~14.5% | 30% | PKR 5M | 5 Years | Calculate → |
| Askari Ijarah | Islamic | Fixed (Ijarah) | ~15.5% | 30% | Varies | 5 Years | Calculate → |
| Bank of Khyber | Islamic+Conv | Variable (KIBOR+2–5%) | ~13–16% | 30% | PKR 3M | 5 Years | Calculate → |
Pakistan’s Most Complete Car Finance Tool
24 Banks in One Place
Islamic and conventional banks — all compared on one platform. No need to visit each bank’s website separately.
Updated Monthly
KIBOR rates and bank markups are refreshed every month. You always see the latest rates — not outdated numbers.
Islamic & Conventional
Separate calculators for Ijarah (Diminishing Musharakah) and conventional interest-based loans. Full transparency.
100% Free
No registration. No hidden fees. No spam. Calculate as many times as you want — completely free.
How Car Financing Works in Pakistan (2026 Guide)
Car financing in Pakistan follows a straightforward structure: you pay a portion upfront (down payment or equity), and the bank finances the rest. You repay the financed amount plus markup in equal monthly installments over 1 to 7 years depending on the bank and vehicle type.
Banks calculate your monthly installment using the reducing balance method — meaning each month’s markup is applied to the outstanding principal, not the original loan amount. This is why your total markup paid is actually less than the face value of rate × principal × years.
Fixed vs Variable Rate — What’s the Difference?
A fixed rate stays locked for your entire tenure. Your installment is the same from month 1 to the final month — ideal for budgeting. HBL (13.99%) and Soneri Bank (14.50%) offer fixed rates.
A variable rate is linked to 1-Year KIBOR, which is published by SBP on the 1st of each month. Your installment is recalculated annually on your loan anniversary. If KIBOR drops, you save money. If KIBOR rises, you pay more. Most banks — including Meezan, Bank Alfalah, MCB, and Faysal — use variable rates.
Islamic Car Ijarah vs Conventional Car Loan
In a conventional loan, the bank lends you money at interest. You own the car from day one, but pay interest on the outstanding balance — which is considered Riba and is forbidden in Islam.
In Islamic Car Ijarah, the bank purchases the car and rents it to you (Ijarah) or enters a joint ownership arrangement with you (Diminishing Musharakah). Your monthly payment is rental, not interest. Ownership transfers fully once all rentals are paid. Meezan, Faysal, NBP Islamic, BankIslami, and Askari all offer Shariah-certified products.
SBP Rules You Must Know (2026)
The State Bank of Pakistan regulates car financing in Pakistan. Key rules: maximum aggregate auto financing per individual across all banks is PKR 3,000,000. Minimum down payment is 15% for locally assembled vehicles. Vehicles above 1000CC are generally restricted to a maximum tenure of 3 years. Used cars must not be older than a certain age at maturity (typically 9–12 years). Non-filers pay an additional 4% Advance Tax on vehicle cost at disbursement.
Frequently Asked Questions
Most common questions about car financing in Pakistan — answered simply.