Askari Bank Ask 4 Car offer

Askari Bank Car Finance offer 2020

Askari Bank Introduce New Car Finance Scheme for their Customers in this year. The Name of this offer is ask 4 Car. Askari Bank Ltd is a commercial and retail bank in Pakistan It was founded on October 9, 1991, as a Public Limited Company. On June 21, 2013 the bank was acquired by Fauji Group.

Askari Bank Ask 4 Car offer 2020:

Askari Bank is Financing for new, used and imported vehicles.

New:  1 to 7 years

Used:    Used vehicles should not be older than 5 years and the age of the vehicle should not exceed 8 years at the time of maturity of loan

Imported: In case of imported vehicles, the bank shall not finance the vehicles older than 5 years.

Askari Bank Ltd Declares PLS Profit Rates

The Bank has declared the following profit rates on PLS Deposits for half yearly ended June 30,2020.

	w.e.f Jan 01, 2020	w.e.f Feb 01, 2020	w.ei Mar 24, 2020	w.e.f Mar 26, 2020	we.f Apr 01. 2020	w.ei Apr 20, 2020	w.e.f May 01, 2020	w*.f May 20, 2020	w.ei June 01, 2020
	Rate p.a.%
Saving Deposits
Saving Account	11.25	11.25	11.25	11.25	9.50	9.50	7.50	7.50	6.50
Askari Asaan Account	1125	11.25	1125	11.25	9.50	9.50	7.50	7.50	6.50
Lide Champs Account	11.25	11.25	11.25	11.25	9.50	9.50	7.50	7.50	6.50
Askari Specia’ Deposit Account (ASDA)	11.25	11.25	1125	11.25	9.50	9.50	7.50	7.50	6.50
Askan Waqaar Account Senior Citizen	1225	12.25	1225	1225	10.00	1000	8.00	8.00	7.00
Notice Deposits
7 days	875	8.75	8.00	6.50	650	4.50	4.50	450	4.50
29 days	885	8.85	810	560	6.60	4 60	4.60	460	4.60
Term Deposits
Cne month	8.90	8.90	8.15	8.15	8.15	6.15	6.15	6.00	6.00
Two months	9.00	9.00	8.25	8.25	8.25	6.25	5.25	6.00	6.00
Three months	9.35	9.35	8.60	8.60	8.60	6.60	6.60	6.00	6.00
Six months	9.55	9.55	8.80	8.80	8.80	680	5.80	6.50	6.50
Cne year	–	–	–	–	–	7.00	7.00	650	6.50
Below Rs. 5.000 M	1095	10.95	1020	8.85	8.85		–
FromRs. 5.0CO M to Rs. 19.999 M	11.50	11.50	10.50	9.00	9.00
From Rs. 20.000 M to Rs 49.999 M	1200	12.00	1100	9.50	9.50		–
From Rs. 50.000 M and above	–	–	–	10.00	10.00		–
From Rs. 50.000 M to Rs 99 999 M	1250	12.50	11.50
RS.100.000M and above	1300	13.00	1200	–	–		–
Two years	13.10	12.50	11.50	10.00	10.00	7.00	7.00	6.50	6.50
Three years	13.20	12.00	11.00	9.50	9.50	7.00	7.00	6.50	6.50
F we years and above	1350	10.00	1000	850	8.50	7.00	7.00	6.50	6.50
Askari Waqaar Account – Senior Citizen- Term Deposit (1 Year)	1275	12.75	1200	10.50	10.50	8.00	8.00	7.50	7.50
Askari Bachat Account (One Year)	10.50	10.50	9.75	8.25	8.25	6.25	5.25	5.75	5.75
Askari Bachat Account (ABA)Two Years	1050	10.50	9.75	8.25	8.25	6.25	5.25	5.75	5.75

Product Features

Documents

How to Apply

Features              Details

Product Type:    Financing for new, used and imported vehicles

Charges:              As per “Schedule of Bank Charges”

Insurance:           Built in Insurance & Tracker

Equity Requirement:

New vehicles: minimum 20%

Imported vehicles: minimum 30% of the FSV of the vehicle

Used vehicles: minimum 25% of the FSV

Co-borrower:    Parents, spouse and son can be considered as co-borrower. Brother/ sister can be considered if other options are not available and provided they are employed/self-employed

Electronics Credit Information Bureau (ECIB) & Debt Burden Ratio (DBR):

Mandatory for all applicants including co-borrowers

Debt burden inclusive of all existing and proposed liabilities shall not exceed 50% of net disposable income

Segment              Annual Mark-up

Armed Forces:  12 months Kibor + 1.5% (upto 3 years)

12 months Kibor + 2% (more than 3 years)

Branch Customers (salaried):      12 months Kibor + 3% (upto 3 years)

12 months Kibor + 3.5% (more than 3 years)

Branch Customers (SEB/SEP):     12 months Kibor + 3.5% (upto 3 years)

12 months Kibor + 4% (more than 3 years)

Non Branch Customers (salaried):            12 months Kibor + 4%

Non Branch Customers (SEB/SEP):           12 months Kibor + 4.5%

Used/Imported Vehicles:             12 months Kibor + 5%

Minimum Income:

Category              Minimum Income Requirement                Relation/Service Length

AKBL Approved List of Companies            Rs. 25,000            Permanent employees

Armed Forces    Rs. 25,000            Commissioned officers

AKBL Branch Customers (salaried)            Rs. 25,000            6 months salary relationship with AKBL

AKBL Branch Customers (SEB/SEP)           Rs. 50,000            1 year account relationship with AKBL

Non Branch Customers (salaried)             Rs. 40,000            1 year continuous service length

Non Branch Customers (SEB/SEP)            Rs. 65,000            2 years in current business

Government Sector        BPS 16 or above                6 months service length

Individuals with Rental Income  Rs. 100,000          6 months