UBL Ameen Can Loan

United Bank Limited (UBL) offers a comprehensive car financing solution through its UBL Drive program, catering to both conventional and Islamic banking preferences. Here's an overview of the key features and options available:


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🚗 UBL Drive – Conventional Car Financing

Eligibility:

Pakistani citizens aged between 21 and 60 years.

Minimum monthly income: PKR 35,000.

Stable employment or business income.


Loan Details:

Loan Amount: PKR 200,000 to PKR 5,000,000.

Tenure:

1 to 5 years for vehicles up to 1000cc.

1 to 3 years for vehicles above 1000cc.


Down Payment: Minimum 20% of the vehicle's value.

Financing Options:

New, used (up to 9 years old), and imported vehicles.

Locally assembled/manufactured cars.



Markup Rates:

Fixed Rates:

15% for 1–3 years.

16% for 4–7 years.


Floating Rates:

For existing customers: 6% + 1-year KIBOR.

For new customers: 7% + 1-year KIBOR.



Additional Features:

Residual Value Plan: Option to pay a lump sum (up to 50%) at the end of the loan tenure, reducing monthly installments.

Complimentary Services: Free tracker installation; for Honda Civic & City, first oil and filter change is free; Honda City Aspire customers receive free fuel vouchers and fog lights.



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🕌 UBL Ameen Drive – Islamic Car Financing

For customers seeking Shariah-compliant financing, UBL offers the Ameen Drive program based on the Diminishing Musharakah model.

Key Features:

Vehicle Eligibility: Locally assembled/manufactured new and used cars.

Financing Options: Up to 1000cc and above 1000cc vehicles.

Ownership Structure: Joint ownership with the bank, where the customer's share increases over time through periodic payments.



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📊 Application Process

1. Online Application: Apply through UBL's digital platform.


2. Document Submission: Provide CNIC, proof of income, and employment/business details.


3. Approval & Disbursement: Loan approval within 7 working days.

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