With UBL Drive, get an unparalleled car loan, with the best possible financing solutions to make your dream car a reality. UBL provides convenient offerings and flexibility of payments to get you your dream car instantly.
Product Benefits and Features
- Quick processing and minimal documentation
- Minimum down payment
- 30% for all vehicles
- Option for fixed or variable rates
- Zero charges on Car Replacement Program
- Flexible financing tenure
- 1-5 years financing available for all New & Used (Local) – (Vehicles upto 1000 CC)
- 1-3 years financing available for all New & Used (Local) – (Vehicles above 1000 CC)
Mark Up Rates
FLOATING MARK-UP RATES
| Relationship | Applicable Rate (p.a.) | |
|---|---|---|
| 1 – 3 Years | 4 – 5 Years | |
| Spread % | Spread % | |
| Existing Customers | 1YK + 4.25% | 1YK + 4.75% |
| New to Bank Customers | 1YK + 4.75% | 1YK + 5.25% |
*Additional 1% to be charged for all cases process with any deviation
FIXED MARK-UP RATES
| Relationship | Applicable Rate (p.a.) | |
|---|---|---|
| 1 – 3 Years | 4 – 5 Years | |
| Spread % | Spread % | |
| Existing Customers | 1YK + 7.00% | 1YK + 8.00% |
| New to Bank Customers | 1YK + 7.50% | 1YK + 8.50% |
*Additional 1% to be charged for all cases process with any deviation
Eligibility Criteria:
| Salaried Customers | SEB/SEP |
|---|---|
| Age Criteria: 21-60 | Age Criteria: 21-70 |
| Job Status: Permanent only | Job Status: N/A |
| Salary Income: Rs 35,000 per month | Salary Income: Rs 50,000 per month |
| Length of Employment: Min 3 months | Length of Business: 1 year |
Category Wise Requirement
| Salaried | SEB/SEP |
|---|---|
| Two recent photographs | Two recent photographs |
| Copy of CNIC | Copy of CNIC |
| Employment Proof | Acceptable proof of business |
| Bank statement of last 1 year | Bank statement of last 1 year |
| Experience Letter |
UBL Drive – Auto Leasing
Auto Drive finance lease model will be based on lease finance agreement, where the bank purchases the car and rents it out to the customer for a certain period, agreed at the time of the contract
UBL Auto Loan – Zero Pre-Payment Penalty Plan
Customers who intend to avail car loan facility a second time from UBL Drive with their existing car loan plan under this variant can readily apply with a rebate facility.
UBL Auto Loan – Residual Value
The expected worth of a vehicle at the end of the lease period is known as residual value. It’s one of the most essential criteria in deciding the cost of a car.
With the present trend of rising expenses and their difficult effect on the consumer’s purchasing capacity, UBL are proudly announce to introduce UBL Residual Value option to continually attempting to create convenient and reasonable financing choices that attract customers. This is a step toward improving the experience of auto finance consumers.
The product is offer under Auto Lease Only.
Silent Features
- Withholding tax will be borne by the Bank
- Fixed markup rate for entire loan period
- Maximum RV of up to 50%
- Up to 1.75% of insurance rate with UBL Insurer
- Customer has to make balloon payment at the end which results in lower in installments
- Applicable for New & Used vehicle as per approval
Fixed Mark-up rates
| Relationship | Loan Tenure (in years) |
|---|---|
| 1 – 3 | 4 – 5 |
| Existing Customers | 1YK + 5.25% |
| New to Bank Customers | 1YK + 5.50% |
*Additional 1% to be charged for all cases process with any deviation
List of Vehicles under RV segment
| S. No | Assemble | OEM | Make | RV Percentage (Up to) |
|---|---|---|---|---|
| 1 | Local – New & Used | Honda | All Variants | 50% |
| 2 | Local – New & Used | Toyota | All Variants | 50% |
| 3 | Local – New & Used | Suzuki | All Variants | 50% |
| 4 | Local – New | KIA | All Variants | 50% |
| 5 | Local – Used | KIA | All Variants | 40% |
| 6 | Local – New | Hyundai | All Variants | 50% |
| 7 | Local – Used | Hyundai | All Variants | 40% |
| 8 | Local – New | Changhan | All Variants | 50% |
| 9 | Local – Used | Changhan | All Variants | 35% |
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