Branch Locator
Schedule of Charges
Accounts
Consumer Financing
Branchless Banking
Others
It’s time you drove your car with pleasure and peace of mind! Dubai Islamic Auto Finance offers a world class auto finance facility that enables you to get a car quickly, conveniently and in a fully Sharia compliant manner. Using Musharaka cum Ijara model to finance your car, steer yourself towards peace of mind and fulfillment of your desire.
Fatwa
Features
Low Takaful Rates
Low Takaful rates compared to any other Bank.
Payment Advance Booking Cases
No monthly rental payments will be made by the customer before delivery of the car in Advance Booking cases.
Monthly Rental
Competitive and affordable monthly rentals as per industry standards.
Financing Amount
DIBPL will finance up to 70% of the car value
Minimum financing: Rs.150,000
Maximum financing: Rs. 3,000,000
Shari’a Compliant
Our products are structured under the tenets of Islam & Shari’a compliance for Riba free (Interest free) transactions.
Flexibility
- New or Used Cars.
- Payment plan with tenure options ranging from 1-5 years.
- Ready Delivery and Advance Booking.
- Income clubbing option.
- Up to 9 year old vehicle can be financed
Eligibility
| Customer Class | Minimum Age at the time of Application | Maximum Age at the time of Finance Maturity |
| Salaried | 21 Years | 60 Years |
| Self Employed Professional | 21 Years | 65 Years |
| Self Employed Businessman | 21 Years | 65 Years |
You are Eligible for Dubai Islamic Auto Finance if:
| Your Monthly Net Income is | Rs.25,000 |
| You Have Been Working For | |
| Salaried | 3 Months |
| Self Employed Professional | 6 Months |
| Self Employed Businessman | 12 Months |
Documents Required
- Copy of primary applicant’s CNIC.
- Copy of co-applicant’s CNIC (if applicable).
- 2 passport size photographs.
- Latest salary slip.
- 6 months Bank statement (if applicable).
- Bank certificate (if applicable).
Alliance Partners
FAQ’s
Is Dubai Islamic Bank Pakistan Limited Auto Finance Shariah-compliant?
Yes
What financing mode is currently used by auto finance?
Shirkat ul milk (Musharaka) cum Ijarah model
What are the processing charges?
Rs. 8,352
What is the processing time?
7 working days
When are processing charges applied?
The processing fee is due when the application is approved.
Does DIBPL allow income clubbing?
Yes
Which car types are eligible for auto finance?
Both locally manufactured new and used vehicles.
What is the minimum customer contribution for the car price?
The minimum customer contribution is 30% of the car price.
What are the minimum and maximum auto finance limits?
- Minimum financing: Rs. 150,000,
- Maximum financing: Rs. 3,000,000
What is the maximum financing tenure?
Financing tenure is 5 years for up to 1000cc
3 years for above 1000cc.
What is the maximum vehicle age for financing?
Vehicles up to 9 years old can be financed for 3 years.
Do we offer Partial or Balloon Payment options?
Yes (once a year)
What are the Early Termination Charges (ETC)?
| Period | ETC |
| 06 Months | 20% |
| 12 Months | 10% |
| 24 Months | 8% |
| 36 Months | 6% |
| 48 Months | 4% |
| 60 Months | 0% |
What payment plans are available?
1 to 5 Years
Is Takaful coverage mandatory?
Yes
Are monthly rentals due in advance before vehicle delivery for bookings?
No
What is the maximum age at finance maturity for salaried, self-employed professionals and self-employed businessmen?
- Salaried: 60 Years,
- Self-Employed Professionals (SEP): 65 Years,
- Self Employed Businessman (SEB): 65 Years
What is the minimum monthly net income?
Rs. 32,000
What is the minimum work tenure for salaried, self-employed professionals, and businessmen?
- Salaried: 3 Months,
- Self-Employed Professionals (SEP): 6 Months,
- Self Employed Businessman (SEB): 12 Months
What documents are required?
- Primary applicant’s CNIC copy
- Co-applicant’s CNIC copy (if applicable)
- 2 passport-sized photos
- Latest salary slips
- 6-month bank statement (if applicable)
- Bank certificate (if applicable)
What is the current pricing mechanism for auto finance?
The rental rate is adjustable annually or semi-annually based on KIBOR. Pricing is revised every 6 or 12 months from the contract date, depending on the renewal option, which may affect the rental amount.
What is the relationship between the customer and DIBPL during financing?
They become partners i.e. joint owner over the whole car and lessee and lessor over the undivided share of the bank.
