Do you find it hard to afford a car with rising costs and tight budgets? Buying a car on installments is an excellent option to make vehicle ownership more accessible, especially with JS Bank’s flexible financing options.

Whether you want a brand-new ride or a pre-loved car, financing it with affordable monthly payments can take the pressure off your finances.

Benefits of Buying Cars on Installments in Pakistan

Purchasing a car on installments provides many advantages, including:

• Flexibility: You can spread payments over several years, making it easier to manage your budget.
• Lower Upfront Costs: Instead of paying the full amount upfront, you only need to make a down payment, typically 30% of the car’s value.
• Access to Better Cars: Installment plans allow you to afford higher-end or newer models that may otherwise be out of reach.
• Convenient Process: Financial institutions like JS Bank offer easy and fast approval processes to make financing as smooth as possible.

JS Bank CarAamad Auto Financing: Your Ticket to Affordable Car Ownership

JS Bank’s CarAamad Auto Financing plan is one of the best options available for those looking to buy cars on installments in Pakistan. This program offers competitive interest rates, easy payment options, and tailored financing solutions for different types of cars.

Here are some of the standout features of JS Bank’s CarAamad Auto Financing:

• You can finance up to PKR 3 million for cars above 1000cc.
• Up to 5 years for cars below 1000cc and up to 3 years for cars above 1000cc.
• A minimum down payment of 30% of the vehicle’s cost is required.
• JS Bank offers floating markup rates based on a 1-year KIBOR + spread, ensuring competitive and manageable interest rates.

With JS Bank, you also get exclusive financing options for payroll account holders and co-borrower facilities, making car ownership even more accessible.

Eligibility Criteria for JS Bank CarAamad Auto Financing

Before applying for car financing with JS Bank, it’s essential to ensure you meet the eligibility requirements:

Pakistani National:

Applicants must be Pakistani citizens with valid identification.

Income Requirements:

Salaried employees must have a net take-home salary of at least PKR 50,000 per month, while contractual employees require a minimum monthly income of PKR 75,000.

Self-Employed Individuals:

If you’re self-employed or a business owner, you must maintain an average balance of at least PKR 100,000 over the past six months.

Age Requirements:

The minimum age to apply is 21 years, while the maximum age at the time of loan completion is 65 years for salaried individuals and 70 years for self-employed individuals.

Good Credit History:

Applicants must have a satisfactory credit history to qualify for JS Bank’s auto financing program.

How to Apply for JS Bank CarAamad Auto Financing

Here’s a step-by-step guide to applying for a car loan through JS Bank:

1. You’ll need two passport-sized photos, a copy of your CNIC, a salary slip or income proof, a bank statement, and a recent utility bill.
2. You can apply by visiting a JS Bank branch or through their online portal. Be sure to fill out the form carefully, providing accurate information to avoid delays.
3. JS Bank will review your application and assess your eligibility based on your credit history and income level.
4. Discuss the repayment policies and terms with a JS Bank representative before finalizing the loan agreement.
5. Upon approval, you can proceed with the purchase of your desired car, and JS Bank will disburse the loan amount directly to the dealer.

Final Thoughts

Purchasing a car on installments is a practical solution for many people in Pakistan who are unable to pay upfront. With JS Bank’s CarAamad Auto Financing, you can drive your dream car without the financial stress of paying the full amount at once. The easy repayment plans, competitive rates, and customer-friendly terms make JS Bank an excellent choice for anyone looking to finance their next vehicle.

Ready to hit the road? Apply for JS Bank CarAamad Auto Financing today and start your journey towards hassle-free car ownership.