☪ Shariah-Compliant Islamic Finance
🏦 Meezan Bank — Pakistan
Meezan Bank Car Loan Calculator 2025
Calculate your monthly Car Ijarah rental — Pakistan’s first interest-free Islamic car financing
✓ No Interest (Riba-Free)
✓ 12.27% Profit Rate
✓ Up to 5 Years
✓ New & Used Cars
✓ Takaful Insurance
Simple Calculator
Advanced (Vehicle Price)
☪ This is a Car Ijarah calculator — Meezan Bank buys the car and rents it to you. No interest (Riba). You pay a monthly rental, not an EMI.
🚗 New Car
🔄 Used Car (Local)
PKR 100,000 – 10,000,000
Meezan indicative rate: 12.27%
Monthly Ijarah Rental
PKR —
Exclusive of Takaful charges · Subject to revision
—
Total Rental Paid
—
Total Profit
—
Est. Takaful/yr
* Calculations are estimates only. Actual rentals depend on Meezan Bank’s current profit rates and your profile. Rates subject to PKRV and deposit rate revisions. Call 111-331-331 to confirm.
Meezan Bank Car Loan Calculator — How It Works
This Meezan Bank car loan calculator helps you estimate your monthly Car Ijarah rental payment. Unlike conventional bank loans, Meezan Bank does not charge interest (Riba). Instead, the bank purchases the vehicle and rents it to you for an agreed period — this is called Car Ijarah.
Meezan Bank car financing uses an indicative profit rate of 12.27% per annum (non-lien-based), subject to revision based on PKRV and deposit rates. The meezan car loan calculator above uses the same EMI formula but with a profit rate instead of an interest rate — the math is identical, but the contract structure is Shariah-compliant.
Use the Advanced tab to enter your vehicle price and security deposit for a complete Meezan Bank car loan installment calculation. The repayment schedule shows every month’s rental, principal reduction, and outstanding balance.
How Meezan Car Ijarah Works
Pakistan’s first interest-free car financing — simple 3-step process
1
Bank Buys the Car
Meezan Bank purchases your chosen vehicle from the dealer. Bank becomes the legal owner.
2
You Pay Monthly Rental
Bank rents the car to you. You pay fixed monthly rental for 1–5 years. No interest charged.
3
You Own the Car
At the end of the Ijarah period, the car is gifted or sold to you at a nominal token price.
Meezan Car Ijarah — Key Features
Why thousands of Pakistanis choose Meezan Bank car financing
100% Riba-Free
No interest charged — Shariah-compliant Ijarah contract approved by Meezan’s Shariah Board
Takaful — Not Insurance
Islamic Takaful replaces conventional insurance — fully Shariah-compliant coverage
New & Used Cars
Finance new, used local, or imported vehicles with as low as 15% security deposit
Rental Stops if Car Stolen
If vehicle is stolen or destroyed, monthly rentals stop immediately — unlike conventional banks
Late Fee Goes to Charity
Any late payment penalty goes to a charity fund — never added to bank income
Roshan Digital Account
Overseas Pakistanis with RDA can also finance a car through Meezan Car Ijarah
📊 Rates & Charges
Profit Rate 12.27% p.a. (indicative)
Rate Type Variable (PKRV-linked)
Min Financing PKR 100,000
Max Financing PKR 10,000,000
Max Tenure 5 Years (60 months)
Min Deposit (New) 30% of vehicle value
Min Deposit (Used) 15% of vehicle value
Insurance Takaful (Islamic only)
✅ Eligibility Criteria
Citizenship Pakistani citizen
Minimum Age 22 years
Max Age (Salaried) 60 yrs or retirement
Max Age (Self-Employed) 70 years at maturity
Income Rule Take-home > 2× monthly rental
Employment (Salaried) Min 3 months current job
Total Employment Min 2 years total
Credit History Clean eCIB required
🔍 Quick Eligibility Check
Required Documents
👔 Salaried Individuals
Copy of valid CNIC
Latest salary slip
Bank statement (last 3 months)
Employment confirmation letter
Car Ijarah application form
2 passport-size photographs
🏢 Self-Employed / Business
Copy of valid CNIC
Bank statement (last 6 months)
NTN / Tax return
Proof of business (registration/letterhead)
Car Ijarah application form
2 passport-size photographs
Frequently Asked Questions
Everything about Meezan Bank car loan calculator and Car Ijarah Pakistan
What is Meezan Bank car loan profit rate in 2025? ▾
Meezan Bank Car Ijarah currently has an indicative profit rate of 12.27% per annum (non-lien-based). This rate is linked to PKRV (Pakistan Revaluation Rate) and deposit rates — it can be revised periodically. Unlike HBL’s fixed 13.99%, Meezan’s rate is variable. Always confirm the latest rate at any Meezan Bank branch or call 111-331-331 before applying.
What is the difference between Meezan car loan and HBL car loan? ▾
HBL CarLoan is a conventional interest-based loan — you borrow money and pay it back with markup (interest). Meezan Bank Car Ijarah is Islamic leasing — Meezan buys the car and rents it to you. No interest is charged. Meezan’s profit rate (12.27%) is currently lower than HBL’s fixed rate (13.99%). Meezan also uses Takaful instead of conventional insurance, and late fees go to charity instead of bank income.
How much monthly rental for a PKR 2 million Meezan car loan? ▾
At 12.27% profit rate over 5 years (60 months) on a PKR 2,000,000 financing amount, your estimated monthly Ijarah rental is approximately PKR 44,800. Over 3 years, it rises to about PKR 66,500 per month. Use the calculator above to get the exact figure for your specific amount and tenure.
What is the minimum deposit for Meezan Bank car financing? ▾
For new locally assembled cars, the minimum security deposit is 30% of the vehicle price. For used locally assembled cars, it is as low as 15%. For imported vehicles, the deposit requirement may be 25–35%. The security deposit is refunded (or offset) at the end of the Ijarah period when the car is transferred to you.
Can I use the Meezan car loan calculator for used cars? ▾
Yes. This meezan bank used car loan calculator works for both new and used locally assembled vehicles. Toggle to “Used Car” mode. For used cars, select 15% minimum deposit in the Advanced tab. The maximum tenure for used car Ijarah may vary based on vehicle age — confirm with Meezan Bank directly.
What happens if my car is stolen under Meezan Car Ijarah? ▾
This is a key advantage of Islamic Ijarah over conventional loans. Under Meezan Car Ijarah, if your vehicle is stolen or completely destroyed, monthly rental payments stop immediately. In conventional financing, banks continue charging interest/markup until the insurance claim is settled. Under Islamic law, rent is payment for usage — if the asset is gone, the obligation ceases.
Can overseas Pakistanis apply for Meezan Bank car financing? ▾
Yes. Overseas Pakistanis holding a Roshan Digital Account (RDA) with Meezan Bank can apply for Car Ijarah. The process is slightly different from the standard application. Fill the RDA Customer Application Form and submit it along with required documents. The car is delivered to a nominee in Pakistan.
Is Meezan Bank car loan actually cheaper than conventional banks? ▾
At current rates — yes. Meezan’s indicative profit rate of 12.27% is lower than HBL’s fixed 13.99%. On a PKR 2,000,000 loan over 5 years, you save approximately PKR 15,000–20,000 in total payments with Meezan vs HBL. However, Meezan’s rate is variable (PKRV-linked), so it can change. HBL’s rate is fixed throughout the tenure. Use both calculators to compare your specific scenario.
Ready to apply for Meezan Car Ijarah?
Use the calculator above to estimate your rental, then apply at any Meezan Bank branch or online