Meezan Car Calculator 2026: Car Ijarah EMI & Profit Rate

About the Meezan Car Calculator 2026: Car Ijarah EMI & Profit Rate

Free Meezan car calculator for Car Ijarah, Pakistan's largest Islamic car financing product. Quick answer before the detail: a Rs 20 lakh car with the standard 15 percent security deposit (Rs 3 lakh down, Rs 17 lakh financed) over 5 years comes to roughly Rs 41,000 per month. Rs 15 lakh gives about Rs 31,000, Rs 30 lakh about Rs 61,000, and Rs 50 lakh about Rs 102,000, all at a mid-range indicative rate. Stretch the same Rs 20 lakh car to 7 years and the monthly drops to about Rs 33,000, though total rental paid rises from about Rs 24.5 lakh to about Rs 28 lakh. Enter your own vehicle price, down payment percentage, tenure and CC bracket for exact figures.

On the profit rate: Meezan Car Ijarah is benchmarked to a floating rate that is revised periodically, and published figures vary by source and by month. Indicative rates reported across 2026 aggregators range from roughly 12 to 17 percent per annum, so the calculator lets you set the rate yourself rather than hardcoding a single number. Always confirm the live rate on Meezan Bank's own calculator or at a branch before signing, since the rate at signing is what gets locked into your rental schedule.

Covers new cars, used cars and Roshan Apni Car. New locally assembled vehicles (Toyota, Honda, Suzuki, KIA) take a minimum 15 percent security deposit. Used cars need more down: roughly 20 percent for a vehicle up to 2 years old and roughly 30 percent for one over 2 years, with the vehicle required to be no more than 8 years old at the end of the Ijarah term. Roshan Apni Car lets Non-Resident Pakistanis with a Meezan Roshan Digital Account finance a new or used car remotely, with no branch visit and delivery to an approved nominee in Pakistan.

Typical eligibility: minimum age 22, maximum age 65 at maturity for salaried and 70 for self-employed, minimum net monthly income around Rs 80,000, at least 3 months in the current job with 2 years total employment history for salaried applicants, or 2 years of continuous business for self-employed, plus a clean e-CIB record.

Structurally, Car Ijarah is a lease, not a loan. Meezan Bank buys the car and rents it to you: ownership rights and liabilities stay with the bank as Lessor, usage rights and liabilities stay with you as Lessee. That owner-user separation is what makes the rental permissible under Shariah per Meezan's Shariah Supervisory Board, and at the end of the term the vehicle transfers to you through a separate Sale Agreement or gift. This differs from BankIslami AutoFinance, which is a Diminishing Musharakah co-ownership structure, so the calculator keeps the two distinct. Late payment carries NIL penalty under Shariah, though a charity donation may be requested and is not enforced. The calculator also applies SBP Prudential Regulations: the aggregate Rs 3 Million cap across all banks and tenure caps by engine CC. Full documents checklist for salaried and self-employed applicants is included on the tool page.