Bank Alfalah car loan calculator
Bank Alfalah offers both a conventional car facility and Alfalah Islamic auto financing, so compare this markup-based estimate with an Ijarah lease if a Shariah-compliant structure matters to you. This calculator estimates the Alfalah Car Financing installment on a reducing balance — computed on the financed amount at your quoted markup rate over the tenure — and applies the SBP limits (30% down, the engine-based tenure cap and the PKR 3 million exposure limit) plus advance tax by filer status. The rate is KIBOR-linked, so it can reset over the term.
| Calculator | Bank Alfalah Alfalah Car Financing |
|---|---|
| Type | Conventional (reducing-balance markup) |
| Method | Installment on financed amount × rate × tenure, reducing balance |
| SBP rules | 30% down · 3yr >1000cc / 5yr ≤1000cc · PKR 3m cap · no imported |
| Advance tax | Value-based by engine slab, filer vs non-filer |
| Last verified | 2026-07-22 |
Prices are indicative (reviewed 2026-07-22). Edit the price below to match your quote.
Monthly installment
PKR 92,992
Bank Alfalah · Alfalah Car Financing
Maximum tenure: SBP caps auto-finance tenure at 3 years (36 months) for this engine capacity (above 1000cc). You entered 60 months.
Reduce the tenure to 36 months or fewer.
Maximum exposure: The financed amount (PKR 3,850,000) exceeds the SBP per-person auto-finance cap of PKR 3,000,000.
Increase the down payment so the financed amount is at most PKR 3,000,000.
- Vehicle price
- PKR 5,500,000
- Down payment
- PKR 1,650,000
- Financed amount
- PKR 3,850,000
- Total markup
- PKR 1,729,494
- Total repayment
- PKR 5,579,494
- Processing fee
- PKR 38,500
- Advance tax (filer)
- PKR 110,000
First-year cash needed ≈ PKR 1,891,492
Down payment + processing fee + advance tax + first installment. Registration, tracker and Takaful/insurance are extra.
An estimate, not an official bank quotation. Rates, fees and taxes change — confirm with the bank and FBR. Nothing is uploaded; the calculation runs in your browser.
How the Alfalah Car Financing instalment is calculated
The monthly installment is the level payment that amortises the financed amount — the vehicle price minus your down payment — over the tenure at the markup rate, computed on a reducing balance.
Installment = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
- P = financed amount (price − down payment)
- r = annual markup rate ÷ 12
- n = tenure in months
Bank Alfalah prices this product off a benchmark plus a spread. On 3 September 2026, the 1-year KIBOR offer published by the State Bank was 12.19%. A floating rate resets periodically, so your installment can change over the term.
The SBP limits that bind Bank Alfalah
30% minimum down payment, 3 years maximum tenure above 1000cc and 5 years up to it, a PKR 3,000,000 per-person cap across all banks, and no financing for imported vehicles. These are State Bank rules, identical at every bank, so they are not something Bank Alfalah can waive. Why each limit exists, and the exemptions.
Alfalah Auto Loan rates and charges 2026
Bank Alfalah prices this facility off the 1-year KIBOR, which is 12.19% as of 3 September 2026. The all-in column is that KIBOR plus the bank's own published spread — it moves when KIBOR moves, so treat it as today's rate, not the rate for the whole term.
| Applies to | Tenure | Published markup | All-in rate today |
|---|---|---|---|
| Brand new or used, locally assembled | 2 years | 1-year KIBOR + 3.50% | 15.69% |
| Brand new or used, locally assembled | 3 years | 1-year KIBOR + 4% | 16.19% |
| Brand new or used, locally assembled | 4–5 years (up to 1000cc only) | 1-year KIBOR + 4.50% | 16.69% |
The 1-year KIBOR on the first day of the month sets the rate for that whole month, and it is revised on each loan anniversary rather than continuously. Financing the insurance and registration instead of paying them up front adds 1% to the markup.
Charges
| Processing / documentation fee | Quoted by the bankCharged per Bank Alfalah's Schedule of Charges. The separate Instant Auto Loan product publishes its own fee. |
|---|---|
| Late payment charge | Quoted by the bankSet in Bank Alfalah's Schedule of Charges. |
| Insurance / Takaful | Insurance is separate from the instalment, and the published calculator's figures exclude it. Deferred Insurance & Registration financing spreads both across the term for 1% more markup. |
| Tracker | Not stated on the product page. |
Source: Bank Alfalah — Auto Loan product page (markup by tenure, limits, eligibility) · read 2026-09-06. KIBOR from State Bank of Pakistan — key indicators snapshot (sbp.org.pk home page).
Alfalah Auto Loan monthly instalment plan 2026, by car model
Computed at Bank Alfalah's best published rate — 15.69% all-in, being the 1-year KIBOR of 12.19% plus 3.50% — with the SBP minimum 30% down payment. The tenure column follows the SBP cap: five years up to 1000cc, three years above it, so a Corolla cannot be spread over five years however much you would like it to be.
| Vehicle | Price | 30% down | Financed | Tenure | Monthly | Total markup |
|---|---|---|---|---|---|---|
| Suzuki AltoVXR · 660cc | PKR 2,690,000 | PKR 807,000 | PKR 1,883,000 | 5 yrs | PKR 45,481 | PKR 845,880 |
| Suzuki CultusVXL · 1000cc | PKR 3,800,000 | PKR 1,140,000 | PKR 2,660,000 | 5 yrs | PKR 64,249 | PKR 1,194,923 |
| Suzuki SwiftGLX CVT · 1200cc | PKR 4,800,000 | PKR 1,440,000 | PKR 3,360,000 | 3 yrs | PKR 117,614 | PKR 874,105 |
| Honda City1.5 CVT · 1500cc | PKR 5,500,000 | PKR 1,650,000 | PKR 3,850,000 | 3 yrs | PKR 134,766 | PKR 1,001,579 |
| Toyota CorollaAltis 1.6 CVT · 1600cc | PKR 7,400,000 | PKR 2,220,000 | PKR 5,180,000 | 3 yrs | PKR 181,322 | PKR 1,347,579 |
| Kia SportageAlpha · 2000cc | PKR 9,600,000 | PKR 2,880,000 | PKR 6,720,000 | 3 yrs | PKR 235,228 | PKR 1,748,211 |
Vehicle prices are indicative starting points reviewed 2026-07-22 and change with FX, duty and company notifications — the sourced figure in this table is the rate, not the sticker price. Put your own quoted price into the calculator above. Registration, advance tax, insurance and tracker are extra.
Alfalah Auto Loan eligibility 2026
| Minimum monthly income |
|
|---|---|
| Age | Quoted by the bankNot published on the product page. |
| Maximum tenure | 5 years up to 1000cc; 3 years above 1000cc |
| Maximum financing | Quoted by the bankNot published; the SBP 30% minimum down payment applies. |
| Financing limits | PKR 200,000 to PKR 3,000,000 |
| Used vehicles | Quoted by the bankUsed locally assembled vehicles are financed, but no age cap is published. |
| Balloon / residual option | Quoted by the bankThe Residual Value product is offered but the maximum balloon share is not published. |
Meeting these does not approve you. Every bank also applies a debt-burden ratio test under the SBP prudential regulations, so an existing personal loan or credit-card limit can sink an application that clears the income floor comfortably.
Alfalah Auto Loan documents and how to apply
Bank Alfalah does not publish its document checklist online. Expect the usual set: CNIC, recent photographs, proof of income, and six to twelve months of bank statements.
Bank Alfalah product variants worth knowing about
| Residual Value (RV) | A lump-sum balloon at the end of the term, lowering every instalment before it. |
|---|---|
| Deferred Insurance & Registration | Spread insurance and registration across the term instead of paying up front, for 1% additional markup. |
| Car Replacement | Upgrade your vehicle with zero charges on the replacement. |
| Instant Auto Loan | A separate, faster digital route with its own published fee. |
| Alfalah Islamic Car Ijarah | Bank Alfalah's Shariah-compliant auto lease, a separate product from this one. |
Alfalah Auto Loan vs Islamic car financing
Alfalah Auto Loan is a conventional facility: you own the car and pay markup on a reducing balance. Bank Alfalah also offers Alfalah Islamic Car Ijarah. Bank Alfalah runs an Ijarah lease alongside its conventional auto loan.
The two are not interchangeable arithmetic. An Ijarah is a lease in which the bank owns the vehicle and you pay rent; a Diminishing Musharakah is a co-ownership whose share you buy out over time. Both can produce a similar monthly figure to a conventional loan, and both differ in who carries the risk and what happens on default. Compare the total you will pay, not just the monthly number — the Car Ijarah calculator models the lease structure properly.
Common mistakes with Alfalah Car Financing
- Assuming Bank Alfalah's rate is fixed — conventional car financing is usually KIBOR-linked and resets.
- Using a down payment below the 30% SBP minimum for most vehicles.
- Ignoring processing, documentation, tracker and insurance costs on top of the installment.
- Expecting to finance an imported car, which SBP rules do not permit.