SBP in partnership with participating banks has launched Roshan Apni Car for Non-Resident Pakistanis having Roshan Digital Accounts (RDAs). Non-Resident Pakistanis can now get Car Financing at very attractive rates to provide cars for their family members in Pakistan. They can apply digitally and get delivery of the car within 50% less time than usual.
RDA holders can apply for car financing using the portal of bank in which they have an account. Loan Application process is completely digital with no paper work involved.
Loan approval time will be 4 days from the date of submission of application.
RDA holders are being offered car financing at rates which are relatively lower than the market rates. Two types of car financing rates are available:
Car financing is available at rates which vary over the period of tenor of financing is obtained. Rate is determined at the time of application on the basis of prevailing benchmark rate and are revised periodically.
These car financing rates are fixed throughout the tenor of car financing period. The fixed rate is offered by banks on the basis of their Cost of Deposits or the Pakistan Revaluation (PKRV) rates prevailing at the time of loan is applied. Once the rate is offered, it remains unchanged till the maturity of financing.
To find out more on the prevailing car financing rates, visit the websites of banks offering Roshan Digital Account.
| Floating | SBP Floor + 1% | KIBOR + 1% |
| Fixed | 8.25% - 9.50% | 10.25% - 11.50% |
Multiple options to obtain car insurance from the renowned Insurance companies are available at different rates. You can choose the company of your choice.
Car financing is available through both conventional and Sharia compliant modes.
The delivery time for the cars will be half of that currently prevailing in the market.
Non-Resident Pakistanis can now avail up to 3 cars.