🏦 BankIslami — Pakistan’s First Full Islamic Bank
Bank Islami Car Loan Calculator 2026
Calculate your Islami Auto Finance monthly rental — Diminishing Musharakah, 100% Shariah-compliant
Simple Calculator
Advanced (Vehicle Price)
☪ Bank Islami uses Diminishing Musharakah (DM) — you and BankIslami jointly own the car. Your share increases with each payment. No Riba. 100% Shariah-compliant.
💰 Processing fee: only PKR 1,200 (including FED) — the lowest among all major Pakistani banks.
🚗 New Car
🔄 Used Car (Local)
✈️ Imported Car
PKR 500,000 – 3,000,000
Variable — confirm at BankIslami branch
Monthly Ijarah Rental
PKR —
Exclusive of Takaful · Shariah-compliant DM structure
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Total Rental Paid
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Total Profit
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Est. Takaful/yr
* Estimates only. Actual profit rate confirmed at BankIslami branch. Processing fee PKR 1,200 + documentation charges apply. Call 111-ISLAMI (111-475-264).
Bank Islami Car Loan Calculator — Islami Auto Finance Pakistan
This Bank Islami car loan calculator helps you estimate your monthly rental for Islami Auto Finance — a 100% Shariah-compliant car financing product based on Diminishing Musharakah (DM). BankIslami was Pakistan’s first bank to receive a full Islamic Banking license in 2006, and its auto finance product has no hidden charges.
Under Diminishing Musharakah, you and BankIslami jointly own the vehicle from day one. As you make monthly payments, BankIslami’s ownership share (Musharakah units) transfers to you gradually. At the end of the tenure, you become the sole owner. This is fundamentally different from a conventional loan — there is no interest (Riba) involved.
Bank Islami car loan financing ranges from PKR 500,000 to PKR 3,000,000, covering new, used, and imported vehicles. The processing fee is just PKR 1,200 — significantly lower than Bank Alfalah’s PKR 13,500. Use the Advanced tab above to enter vehicle price and down payment for a precise bank islami car loan installment calculation.
How Diminishing Musharakah Works
BankIslami’s car finance structure — simple 3-step process
1
Joint Ownership (Shirkat)
You and BankIslami jointly purchase the car. Bank owns the majority share — you own your down payment share.
2
Monthly Rental + Unit Purchase
You pay monthly rent for bank’s share (Ijarah), plus purchase bank’s ownership units progressively.
3
Full Ownership Transferred
After all units purchased, car is fully yours. No interest — all three contracts (Musharakah, Ijarah, Sale) are independent.
Bank Islami Auto Finance — Key Features
What makes Islami Auto Finance stand out
100% Riba-Free
Diminishing Musharakah — no interest. Pakistan’s first full Islamic bank
Only PKR 1,200 Fee
Lowest processing fee among major banks — all charges included in monthly payments
Imported Cars Eligible
Finance new, used local, AND imported vehicles — unlike most banks
Min Age 18 Years
Lowest minimum age in Pakistan — other banks require 21–22 years
No Car Replacement Charges
Zero termination charges when replacing your car with a new one
Takaful Insurance
Shariah-compliant Takaful from UBL Insurers, Adamjee, Jubilee, TPL & Century
📊 Rates & Charges
Min Financing PKR 500,000
Max Financing PKR 3,000,000
Rate Type Fixed & Variable options
Max Tenure 5 Years
Processing Fee PKR 1,200 only (incl. FED)
Early Payment Penalty 5–8% of outstanding units
Car Replacement Zero termination charges
Insurance Takaful (Shariah-compliant)
✅ Eligibility Criteria
Min Age (All) 18 years
Max Age (Salaried) 65 years at maturity
Max Age (Self-Employed) 70 years at maturity
Min Down Payment 15% (used) / 30% (new)
Used Car Age (at financing) Max 9 years
Used Car Age (at maturity) Max 12 years
Eligible Income Sources Salary, Business, Rental, Agri, Remittance, Pension
🔍 Quick Eligibility Check
Required Documents
👔 Salaried Individuals
Copy of valid CNIC
Latest salary slip or employment letter
Bank statement (last 3–6 months)
Duly filled BankIslami application form
Vehicle proforma invoice
2 passport-size photographs
🏢 Self-Employed / Business
Copy of valid CNIC
Bank statement (last 6 months)
Proof of business / NTN / tax returns
Duly filled BankIslami application form
Vehicle proforma invoice
2 passport-size photographs
Frequently Asked Questions
Everything about Bank Islami car loan calculator and Islami Auto Finance Pakistan
What is Bank Islami car loan profit rate in 2025? ▾
BankIslami offers both fixed and variable profit rate options for its Islami Auto Finance. The variable rate is linked to market rates and revised periodically. The fixed rate stays the same throughout your tenure. Exact current rates must be confirmed at any BankIslami branch or by calling 111-ISLAMI (111-475-264), as they change with market conditions.
What is Diminishing Musharakah and how is it different from a car loan? ▾
In a conventional car loan, you borrow money and repay it with interest (Riba). In Diminishing Musharakah (DM), you and BankIslami jointly own the car from day one. The bank rents its share to you (Ijarah) and you also buy the bank’s ownership units progressively. There is no interest — only rent for using the bank’s share. At the end, all units are purchased and the car is fully yours. The three contracts (Musharakah, Ijarah, Sale) are legally independent and Shariah-compliant.
What is the Bank Islami car loan processing fee? ▾
BankIslami’s application processing fee is only PKR 1,200 including Federal Excise Duty (FED). This is the lowest among all major Pakistani banks — compare this to Bank Alfalah’s PKR 13,500 or HBL’s PKR 7,500. Additionally, BankIslami claims no hidden charges — all charges are included in your monthly payments. Documentation and processing fees at disbursement vary slightly based on financing amount.
Can Bank Islami finance imported cars? ▾
Yes. Unlike Bank Alfalah which only covers locally assembled vehicles, BankIslami’s Islami Auto Finance covers new locally manufactured cars, used locally assembled cars, and brand-new imported vehicles. Used cars must not be older than 9 years at the time of financing, and the financing must mature before the car reaches 12 years of age.
What is the minimum age for Bank Islami car loan? ▾
The minimum age for BankIslami Islami Auto Finance is 18 years — the lowest minimum age requirement among all major Pakistani banks. Most other banks require 21–22 years minimum. The maximum age at loan maturity is 65 years for salaried applicants and 70 years for self-employed/businesspersons. This makes BankIslami accessible to young professionals and fresh graduates.
What is the maximum Bank Islami car loan amount? ▾
BankIslami’s maximum financing limit for Islami Auto Finance is PKR 3,000,000. The minimum is PKR 500,000. This is lower than MCB (PKR 6M new) or Bank Alfalah (PKR 3M) but in line with SBP’s per-person aggregate limit of PKR 3,000,000 across all banks. The minimum down payment is 15% for used cars and typically 30% for new cars.
Can I replace my car under BankIslami Auto Finance? ▾
Yes. BankIslami offers a car replacement facility with zero termination charges. If you want to upgrade or change your vehicle during the financing tenure, you can do so without paying any additional penalty for early termination. However, early purchase of your own vehicle (settling the loan early) does carry a charge of 5–8% of the outstanding unit price.
Which Takaful providers cover Bank Islami car finance? ▾
BankIslami Islami Auto Finance uses Takaful (Islamic insurance) instead of conventional insurance. Approved Takaful providers include UBL Insurers (Pvt.) Limited, Adamjee Insurance Company — Window Takaful Operations (WTO), Jubilee General Insurance — Window Takaful, TPL Direct Insurance Ltd (WTO), and Century Insurance Company Limited (WTO). You can choose from these providers for comprehensive vehicle coverage.
Ready to apply for BankIslami Auto Finance?
Pakistan’s lowest fee (PKR 1,200) — apply at any of BankIslami’s 340+ branches in 118 cities