Car Loan Calculator Pakistan 2026: Compare EMI Across 8 Banks

About the Car Loan Calculator Pakistan 2026: Compare EMI Across 8 Banks

Free all-banks car financing comparison calculator for Pakistan 2026. Quick answer before the detail: on a Rs 20 lakh car over 5 years, Bank AL Habib comes out cheapest at roughly Rs 32,400 a month and JS Bank dearest among the conventional banks at roughly Rs 34,800, with a total-cost gap of about Rs 1.4 lakh across the full term. Meezan Car Ijarah shows the highest instalment of all at roughly Rs 41,100, and that is not because its rate is high: it is the only lender that will take a 15 percent deposit, so it finances 85 percent of the car while everyone else finances 70 percent. Lower deposit, bigger loan, bigger instalment. Enter your car price, engine CC, preferred tenure, down payment percentage and monthly salary, and the tool computes EMI, total cost and total markup across 8 major Pakistani car finance products side by side, then flags which banks you actually qualify for based on their minimum salary and the 33 percent debt-burden check.

Settle the down payment question first, because it is not the variable most people think it is. SBP caps auto financing at 70 percent of vehicle value, so 30 percent is the minimum deposit at HBL, UBL, MCB, Bank Alfalah, Bank AL Habib, BankIslami and JS Bank alike, and Bank AL Habib asks 35 percent on a used car. The one exception is Meezan Car Ijarah at 15 percent for salaried applicants, because an ijarah is a lease rather than a loan and the financing cap does not bite the same way. Comparison pages still quoting 15 or 20 percent at conventional banks are running on pre-2022 figures. With the deposit effectively fixed, what separates the conventional banks is the rate and who will approve you: on Rs 14 lakh financed over 5 years that runs from about Rs 32,400 a month at Bank AL Habib to about Rs 34,800 at JS Bank, with HBL, Bank Alfalah, BankIslami, MCB and UBL packed into the Rs 32,950 to Rs 33,700 band between them.

Indicative terms by bank, and note these move with KIBOR: Bank AL Habib Apni Car carries the cheapest published spread at 1-Year KIBOR plus 2.5 percent on a 1 to 2 year term, plus 3.0 percent at 3 years and plus 3.5 percent at 4 to 5 years, with every one of those rates rising half a point if you have not held an AL Habib account for six months. Deposit is 30 percent new and 35 percent used, tenure caps at 5 years, and the bank publishes no minimum income at all, accepting rental, agricultural, remittance and investment income as well as a clubbed co-borrower's. MCB Car4U publishes 1-Year KIBOR plus 4.0 percent for MCB account holders and plus 4.5 percent for others, finances up to 70 percent of value so 30 percent down, caps tenure at 3 years above 1000cc and 5 years below, asks a minimum net income of Rs 40,000, and uniquely offers a residual-value balloon of up to 50 percent of principal deferred to the end of the term. Meezan Car Ijarah is the Islamic leasing product, and it is the only one here that will take a 15 percent security deposit from a salaried applicant, rising to 25 percent for the self-employed and 25 to 35 percent on an SUV. Net financing runs to Rs 10 million against the Rs 3 million most banks stop at, tenure is the longest in the market, minimum income is Rs 50,000, and there is no late-payment penalty under Shariah. HBL CarLoan is the most transparent on price: 15.50 percent if you are new to the bank, 14.50 percent as an existing customer and 13.50 percent on a repeat CarLoan, all fixed for the tenure rather than KIBOR-linked, on a 30 percent deposit (up to 50 percent accepted), 5 year maximum, minimum monthly income Rs 35,000 and applicant age 22 to 60. UBL Drive prices on relationship too, from 1-Year KIBOR plus 4.25 percent for existing customers to plus 5.25 percent new to bank, with up to another 1 percent for policy deviations, on 30 percent down, 1 to 5 years and a Rs 35,000 salary floor; UBL Ameen is the Islamic Diminishing Musharakah alternative. Bank Alfalah is the most restrictive on the page: its auto loan page now covers only the Instant Auto Loan for pre-evaluated existing customers through the Alfa app, requiring a Bank Alfalah account over a year old and a Rs 100,000 monthly average balance held for six months, on brand new cars only, minimum 2 year tenure and 30 percent down, priced at KIBOR plus 3.50 to 4.50 percent. JS Bank quotes a floating 1-Year KIBOR plus spread and publishes no fixed rate, asks 30 percent down and a Rs 50,000 salary, but is the most flexible on eligibility and will consider freelancers, business owners and non-standard employment profiles the larger banks decline. BankIslami AutoFinance is the other Diminishing Musharakah option, financing new and used cars from a Rs 500,000 floor on customer equity of 30 to 90 percent.

On structure, the three Islamic products are not interchangeable. Meezan Car Ijarah is a lease: the bank owns the car and rents it to you, with ownership transferring at the end. UBL Ameen and BankIslami AutoFinance are Diminishing Musharakah: you and the bank co-own the vehicle from day one and your share grows with each payment. Conventional products (Bank AL Habib, HBL, Alfalah, MCB conventional, JS) simply lend you the money and you own the car outright from the start.

SBP Prudential Regulations apply on top of every bank's own policy: aggregate car financing is capped at Rs 3 Million across all banks combined, and tenure ceilings vary by engine displacement, with larger engines capped shorter. Individual banks then cap tenure lower again by policy, which is why most conventional lenders stop at 5 years even where the regulation would allow more. Rates are KIBOR-linked and revised periodically, so treat every figure here as indicative and confirm the rate written on the bank's Key Fact Statement or offer letter before signing, since that is the number that governs your instalment schedule. The calculator runs entirely client-side in your browser.