How Can We Help You?

Allied Bank Discounts

Allied Home Finance & Allied Car Finance Facilities for ICAP Members:
We are pleased to inform you that one of the largest banks in Pakistan, Allied Bank Ltd. (ABL), has offered Allied Home Finance and Allied Car Finance to members of ICAP on exclusive rates.

Title View
Allied Home Finance
Allied Car Finance

Following are the detail of the discount offer:

Allied Home Finance:

Target Market & Eligibility Criteria Salaried Individuals Criteria

  1. All salaried individuals maintaining salary account with ABL or any other bank.
  2. Salaried individual working as permanent staff
  3. Minimum length of employment 3 years with existing employer
  4. Minimum net monthly salary of Rs. 50,000/-
  5. Minimum six (06) months’ relationship with bank(s)
  6. 6 salaries to be credited in bank account within last six months
  • Active membership/association confirmation from ICAP

Self- Employed Individuals Criteria

  • All Self-Employed individuals maintaining depository relationship with Allied Bank for past 1 year and in case of other Bank, 2 years relationship required.   
  1. Length of respective business/profession should be minimum 2 years in case of depository relationship with ABL and in case of other Bank account’s relationship minimum 3 years required
  2. Minimum Net Income 75,000/- per month for ABL account holders and for other Bank Rs. 100,000/- per month
  3. Active membership/association confirmation from ICAP

 Age

Min: 25 Years   Max: 57 Years.
Minimum 3 years of financing. In case of salaried individual, applicant should not be more than 60 years while in case of self-employed applicant should not be more than 65 years old at the time of maturity of facility.

Minimum & Maximum
Finance Amount (Rs.)

  • Minimum of Rs.0.5 Million and maximum of Rs. 60 Million
  • Home Renovation of Rs. 0.5 to Rs. 10 Million

Tenure of the loan

  • 3 to 25 years.
  • For Home Renovation 3 to 10 years

 Profit/Mark-up Rate

1 YK + 2.36%

Insurance

Life Insurance and Property Insurance will be mandatory through Bank’s approved insurer. Life Insurance premium will be borne by ABL @ 0.36%. If extra rate is charged by the Insurance Company, over and above this rate due to extra mortality of the customer or any other reason, then it will be charged to the customer. Property insurance shall be borne by the customer

Type of Loan

  • Home/Apartment Purchase
  • Home Construction (Land Already Owned)
  • Buy Land and Construct a Home
  • Home Renovation
  • Loan Transfer Facility (LTF)
Minimum Debt To Equity Ratio

Home/Apartment
Purchase

Home
Construction
(Land Owned)

Buy Land and
Construct
Home

Home
Renovations

75:25

75: 25*

70:30

30:70*

*Value of land as well as existing structure will be counted towards equity

Processing & Valuation Fees

  • Processing Fee (all segments including LTF): Rs: 6500 + FED
  • Property Valuation Fee: will be borne by the applicant
  • Lawyer Fee: will be borne by the applicant
  • Registration / Redemption legal charges: will be borne by the Applicant
 

Prepayment Penalty

As per approved SOC

Balloon Payment

After completion of two years, four (4) balloon payments are allowed during the tenure of the loan. Each balloon payment should be equivalent to EMI of 6 months. 2nd and subsequent balloon payments shall be allowed after 1-year gap. Revised repayment schedule would be issued accordingly after each balloon payment

Geographical Coverage

At initial stage this facility will be offered for Lahore, Islamabad/ Rawalpindi, Faisalabad, Multan & Karachi

Allied Car Finance:

Target Market & Eligibility Criteria

Salaried Individuals Criteria

  1. All salaried individuals maintaining salary account with ABL or any other bank.
  2. Salaried individual working as permanent staff
  3. Minimum length of employment of 2 years 
  4. Minimum net monthly salary of Rs. 40,000/-
  5. Minimum six (06) months’ relationship with bank(s)
  6. 6 salaries to be credited in bank account within last six months
  7. All C.N.I.C holders i.e. a Pakistani National
  8. Active membership/association confirmation from ICAP

Self- Employed Individuals Criteria

  • All Self-Employed individuals maintaining depository relationship with the ABL Bank for past 1 year and in case of other Bank 2 years   
  • Length of respective business/profession should be minimum 2 years in case of depository relationship with ABL and in case of other Bank account’s relationship of minimum 3 years
  • Minimum Net Income Rs. 60,000/- per month
  • Active membership/association confirmation from ICAP

 Age:
Min: 21 Years   Max: 59 Years.

  • Minimum 1 years of financing. In case of salaried individual, applicant should not be more than 60 years while in case of self-employed, applicant should not be more than 65 years old at the time of maturity of facility
Loan Amount

Minimum of Rs . 0.2 Million and maximum of Rs. 8 Million.

Tenure of the loan

Brand New Vehicle (Locally Manufactured/ Imported/CBU):
Minimum 1 year and maximum 7 years

Used Vehicle (Locally Manufactured/ Imported):
Minimum 1 year and maximum 5 years.
Vehicle requested for finance should not be older than 3 years at the time of financing and should not be more than 8 years old at the time of maturity. Three (3) years should start from the date of manufacturing and not from the date of registration or recondition in case of both locally manufactured and imported vehicles respectively.
Used Locally/imported vehicle shall be subject to assessed Forced Sale Value (FSV).

Profit/Mark-up Rate

  • 1YK+2% (salary routed through ABL)
  • 1YK+3% (salary routed through Other banks)

Type of Vehicle

  • Brand New Vehicles (Locally Manufactured/ imported/ Completely Built Unit)
  • Used Vehicles (Locally Manufactured/imported)
  • Loan Transfer Facility

Minimum Debt To Equity Ratio

80:20

Processing Fees

Rs. 7,500/- This will be paid on acceptance of offer letter

Prepayment Penalty

As per approved SOC

Balloon Payments

After completion of one year, two (2) balloon payments are allowed during the tenure of the loan. Each balloon payment should be equivalent to EMI of 6 months. 2nd balloon payment will be allowed after one (1) year gap from 1st balloon payment.

Insurance and Tracker

  • Comprehensive insurance coverage only through ABL’s approved insurer covering full value of the vehicle throughout the tenure of financing facility is compulsory. Premium will be payable by Obligor for the 1st year in advance and for subsequent years in installments as a component of equal monthly installments
  • Tracker facility will be available on Insurance Companies recommendation as per approved rates.  

How to Avail the Offer?

You can avail this discount facility by presenting your ICAP identity card along with your CNIC at different branches of ABL.

For inquiry, please contact:

Shahzad Tahir                                                                     Kashif Majeed
Manager Consumer Sales                                                       Manager Consumer Sales
Consumer Finance Division – North                                       Consumer Finance Division – South
042 3588 0043 Ext. 31376                                                     021 111-110-110 Ext: 2754
Shahzad.Tahir@abl.com                                                        Kashif.Majeed@abl.com

   
Note:
This offer is not obligatory on any ICAP member and it is entirely the member’s sole discretion to avail this offer or not, based on his/her own desire and judgment. Accordingly, ICAP is neither influencing any of its Member to opt for ABL offer nor has any responsibility whatsoever for this relationship between the ICAP Members and ABL.

Go to Top