Effective from Jan 2025 to Jun 2025
This calculator is for estimation purposes only. Actual loan terms and conditions may vary based on bank approval and credit assessment. All figures are in PKR.
For more information, contact HBL Branches or HBL Contact Centre at 111-111-425.
HBL (Habib Bank Limited) offers both conventional and Islamic car financing options to meet diverse customer needs. Whether you’re looking for a standard auto loan or a Sharia-compliant solution, understanding the financing criteria, charges, and requirements is essential. This article explores the HBL Car Loan Calculator, its key features, and the requirements for obtaining an Islamic Car Loan from HBL.
The HBL Car Loan Calculator helps potential borrowers estimate their monthly payments, total interest, and processing fees before applying. Here’s what you need to know:
The calculator considers:
Loan Amount – The principal amount you wish to borrow.
Interest Rate – The applicable markup rate (varies based on loan tenure and bank policy).
Loan Term – Repayment period (typically 1 to 7 years).
Processing Fee – Rs. 13,000 for new applications or Rs. 6,500 for reapplications after 6 months.
Input your desired loan amount, interest rate, and tenure.
Select the applicable processing fee.
The calculator provides:
Monthly Installment
Total Interest Payable
Total Repayment Amount
Processing Fee
Early Settlement Fee:
10% of outstanding if settled before vehicle delivery.
5% of outstanding if settled after delivery.
Late Payment Fee: Rs. 1,500 per late installment.
Re-issuance of NOC: Rs. 3,000.
Repossession Charges: Actual cost or Rs. 100,000 (whichever is lower).
For customers seeking Islamic financing, HBL offers Diminishing Musharakah (declining partnership) car financing, which complies with Islamic banking principles.
No Interest (Riba-Free): Operates on a profit-sharing model instead of fixed interest.
Asset-Backed Financing: The bank and customer jointly purchase the vehicle, with the customer gradually buying the bank’s share.
Fixed Rental Rate: Instead of interest, a pre-agreed rental (profit) is charged.
Salaried Individuals: Minimum monthly income of Rs. 50,000.
Businessmen/Self-Employed: Must provide proof of stable income.
Age Limit: 21–65 years.
Vehicle Age: Usually up to 5 years old (for used cars).
CNIC Copy
Proof of Income (Salary slips/bank statements for salaried; business documents for self-employed).
Vehicle Documents (Quotation/booking letter for new cars, registration for used cars).
Down Payment (Usually 15–30% of the vehicle cost).
| Feature | Conventional Loan | Islamic Car Loan |
|---|---|---|
| Pricing Model | Interest-based | Profit-based (rental rate) |
| Ownership | Bank owns until full repayment | Joint ownership with gradual transfer |
| Early Settlement | Fixed penalty (5-10%) | No penalty (but may have admin charges) |
| Late Fees | Rs. 1,500 per late payment | Charity-based (used for welfare) |
The HBL Car Loan Calculator is a useful tool for estimating costs before applying. Meanwhile, the Islamic Car Loan option provides a Sharia-compliant alternative with transparent profit-sharing instead of interest.
Use the Calculator: Plan your budget before applying.
Visit HBL Branch: Discuss conventional or Islamic financing options.
Check Eligibility: Ensure you meet income and documentation requirements.
For more details, contact HBL at 111-111-425 or visit their website.
