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HABIBMETRO offers Roshan Apni Car facility for Non-Resident Pakistanis (NRPs) and Foreign Nationals having a Pakistan Origin Card. This facility will allow Overseas Pakistanis who hold a Roshan Digital Account at HABIBMETRO to purchase a vehicle for their loved ones residing in Pakistan.

Features:

  • HABIBMETRO RDA Holders are allowed to avail auto financing under this scheme for their loved ones residing in Pakistan.
  • Co-borrower residing in Pakistan is mandatory.
  • New locally manufactured vehicles to be financed
  • Tenure up to 7 years.
  • Monthly installment to be paid through direct debit instructions from Roshan Digital Account.
  • Family members including Father, Mother, Spouse, Siblings are allowed to be the co-borrowers in this loan.

Salaried/Businessmen/ Remittance Based:

  • Maximum age at the time of loan maturity for salaried must be 65 years or retirement age whichever comes first at the completion of the financing tenure.
  • Loan limits from PKR 300,000/- up to PKR 10,000,000/-.
  • Minimum 15% Equity requirement for salaried/ businessmen and remittance-based customers.
  • Maximum installment to be 40% for salaried/ businessmen and 75% of net income for remittance-based customers.

Lien Based Financing:

  • No age requirement for lien-based customers
  • No loan limits for lien-based customers.
  • Lien to be marked on 100% equivalent to net financing amount will be marked on applicant’s IPC/NPC/RDA Deposit and 120% in case of foreign currency account.
  • No equity requirement for lien -based customers.
  • No minimum income requirement.

Loan Calculator:

Please click on the link below to download and calculate your tentative instalment

Download

Pricing:

Rate   Lien Product Non-Lien Product
Floating 9.75%

 

SBP Floor+1%

(Current SBP Floor = 8.75%)

 12.37%

 

KIBOR+1%

(Current 1 Year KIBOR = 11.37%)
Fixed 10.75%

 

COD+1%

(Current Cost of Deposit = 9.75%)

 12.43%

 

PKRV+1.5%

(Current 1 Year PKRV) = 10.93%)
2Y 11.00% 12.43%
3Y 11.25% 12.42%
4Y 11.50% 12.44%
5Y 11.75% 12.45%
6Y 11.75% 12.47%
7Y 11.75% 12.48%

 

Note

  • SBP Floor will be used as proxy for bank cost of funds/deposits; Floor= SBP Floor, currently @ 8.75%
  • “COD” implies the relevant tenor fixed-rate Deposit, applicable for the month in which the loan is drawn down.
  • Benchmark rates are subject to change as per market conditions


Documentation Requirement as per Segment:

Lien Based Salaried Businessmen Remittance Based
Customer Undertaking to mark lien on collateral Salary Slip (if not provided at the time of RDA Opening)
  •  Tax return or any other proof of income(If not provided at the time of RDA Opening)
  • Latest 6 months Bank Statement
 Remittances through RDA or any other account (Proof required)

 

Turn Around Time:

Online application submission till applicant’s consent: 1-2 working days

Applicants’ credit, income checks and verification till approval stage: 1-2 working days

Legal documents signing till loan disbursal stage: 1-2 working days

Post disbursal activities: 1-2 working days

Vehicle Delivery: As mentioned in below table

Delivery Time by Manufacturers (Approximately)
Manufacturer Variants Tentative Delivery Time For RDA Holders
Honda Atlas City 2-3 Months Priority delivery up to half from actual delivery time.
Civic 3 to 4 months
BR-V 2 Months
KIA Sportage 3 Months Priority delivery up to half from actual delivery time.
Picanto 3 Months
Carnival 2 Months
Sorento 4 Months
Toyota Indus Motors Yaris 2 to 3 Months Booking Month + 2
Corolla 1.6 & 1.8 6 to 7 Months
Grande 6 to 7 Months
Revo 6 to 7 Months
Fortuner 6 to 7 Months
Pak Suzuki Alto 2 Months Priority delivery up to half from actual delivery time.
WagonR 2 Months
Cultus 4 Months
Swift 3 Months
Bolan 2 Months
Ravi 2 Months
Hyundai Tuscon 6 to 7 Months Booking Month + 3

*TAT may extend in case of any additional scrutiny, delay at customer’s end or any unforeseen circumstance beyond Bank’s control

Frequently Asked Questions(FAQs):

Q: Where can I submit my loan request?

A: Loan applications may be submitted through HABIBMETRO’s online internet banking portal

Q: Who can be co-borrowers for Roshan Apni Car?

A: Family members including Father, Mother, Spouse, Siblings of RDA Holder in HABIBMETRO Bank are allowed to be co-borrowers.

Q: Would I be able to withdraw from my RDA, in case I am a lien-based customer?

A: You will not be able to withdraw from the lien marked amount only.

Q: Is remittance through banking channel mandatory?

A: Remittance through banking channel is mandatory only for remittance-based segment.

Q: How long will it take to processing my loan?

A: The Bank generally takes 7-10 working days to process the loan provided there is no delay at customer’s end.

Q: Is there any other source of income required for the co-borrower (family member in Pakistan)?

A: No, there is no source of income required for co-borrower.

Q: What is the minimum equity or contribution requirement?

A: The minimum equity or contribution requirement is 15% of car price. For example, if the invoice value of the applied vehicle is PKR 2 Million, the applicant will be required to fund 15% of PKR 2 Million himself/herself. However, there is no equity requirement for lien-based customer.

Q: What is the minimum documentation requirement?

A: The minimum documentation requirement is as following for RDA Holders:

  • Online loan request
  • Bank statement/salary slips/remittance proof (if not provided at the time of account opening)
  • Legal documents will require wet signature of applicant.

Q: Which type of cars can be financed?

A: New, locally manufactured vehicles.

Q: Is there any verification of income required from RDAs?

A: No income verification of RDA Holder is required.

Q: Is verification of co-borrower residing in Pakistan required?

A: Only telephonic verification of co-borrower will be done.

Q: What are the insurance and tracker charges?

A: Please find below table for insurance and tracker rates along with other necessary details.

Auto Finance Insurance Rates For RDA Customers
Adamjee EFU Jubilee UBL Insurers Shaheen Insurance
Century Insurance
Exclusive Rates (Standard Product)
– Without Tracker
– With Tracker		 1.50%
1.99%		 1.50%
1.99%		 1.75%
1.99%		 1.40%
1.89%		 1.25%
1.70%		 1.65%
1.90%
Rates with Add-ons (VAS*)
– Without Tracker
– With Tracker		 2.90%
3.50%		 1.50%
1.99%		 2.25%
2.50%		 2.90%
3.50%		 2.20%
2.50%

 

*Value Added Services
Adamjee
 Road Accidental Death Cover for loan borrower of sum insured of vehicle or PKR 2.5 Million whichever is less.
Health Insurance plan of 20% of Vehicle’s Sum Insured or PKR 500,000 whichever is less. (Applicable for Age limit not more than 60 years)
Online unlimited medical consultancy (Sehat Kahani) with Audio and Video call Both options for General Physician + Specialist. Facility available for loan borrower, Spouse and Kids
Travel Insurance plan for loan borrower of USD 50,000 (Only applicable for Vehicle with sum insured above PKR. 2 Million).
EFU Personal accidental death coverage of PKR 2.5 million of the life of policy holder.
Jubilee
 Full outstanding financed amount to be paid by Jubilee General in the event of accidental death of Roshan Digital Account Holder, anywhere in the world.
Free medical expense cover up to PKR 1,000,000/- in case of hospitalization of Roshan Digital Account holder during the trip to Pakistan for 30 days.
Rates are applicable up to vehicle value of PKR 10 Million.
UBL Insurer Personal accidental death coverage of PKR 2.5 million of the life of policy holder.
Habib Insurance Personal accidental death coverage of PKR 2.5 million of the life of policy
holder.
Remaining Principle Auto Finance Loan Protection in case of RDA Holder’s death
Travel insurance plan upto USD 50,000

HABIBMETRO representative will contact you or your family member within 2 working days.