MCB Car Loan Scheme: Payment Calculator and Installment Plans

Getting car financing from the Pakistan banks is no more a big deal. Today more or less almost every commercial bank operating in Pakistan is offering car financing and personal loans to their customers and the general public.

Just like most of the banks offering car financing, MCB is also offering car financing service as Car4U. Car Loan or even the car can be acquired from the approved car dealers of MCB or its customer centers. MCB Car Loan Services can be acquired by both salaried professionals and self-employed business person. Those MCB account holders who are regularly receiving their overseas remittances from their family members are also eligible for this service.

What is the loan tenure?

Financing Tenure from 1 to 7 years for New Cars & 5 years for Old Cars.

Features:

  • Finance up to PKR 6 Million for New Cars & PKR 4 Million for Used Cards
  • Finance Tenure from 1 to 7 years
  • Option to purchase new, used, local as well as imported cars
  • Finance up to 80% of vehicle value
  • Competitive insurance rates
  • Option to finance a second car
  • Options to prepay loan either partially to reduce monthly installment or in full to pay-off loan facility
  • Loan Replacement: Customers can easily upgrade their existing cars loan with a new loan with the pre-payment penalty waived

Eligibility Criteria:

  • Minimum monthly net salary / monthly income requirement: PKR 30,000/-
  • Minimum Age Requirement: 21 years
  • Maximum Age (at loan maturity): 65 years (salaried) and 70 (Self Employed)
  • Employment/Business Length: Minimum 6 months employment (salaried) / 1 year business (self-employed)

Minimum Documentation:

  • Copy of CNIC
  • 2 passport sized recent photographs
  • Bank statement (6 months to 1 year)
  • Salary slip/ proof of business or other documents

What are the modes of repayment?

You can repay by signing a Direct Debit Authority against an existing MCB account or open a new collection/repayment account to deposit your repayment in the same, which would enable the bank to deduct your installments from your account automatically.

What payments would be part of my down payment?

  • Equity
  • 1st years Insurance
  • Processing Fee
Abdul Hadi
Abdul Hadi

Author is a C.A and professional blogger who has been writing since ten years. He specializes on various topics including Business, Technology, News, and local reviews. Abdul graduated from Skans School of accountancy in 2014. He like to produce useful guides for local readers. He also writes for different newspapers and blogs. You can reach him on Facebook

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22 Replies to “MCB Car Loan Scheme: Payment Calculator and Installment Plans”
  • Ghulam Murtaza
    09/12/2018 at 11:21 PM

    I need new bolan carry van

    Reply
  • Ghulam Murtaza
    09/12/2018 at 11:07 PM

    please tell me about bolan suzuki carry van for installment and rule of mcb

    Reply
  • Shahzad kgan
    30/10/2018 at 10:39 PM

    Sir.
    I need information of mehran and cultus cars please help me i working in ptcl

    Reply
  • Hassan
    02/09/2018 at 10:47 PM

    I need a Honda swift on installments of at least 5 years and do guide me about the details of installments
    Plz contact me on this number:
    03069235241.
    And plz try to reply me as soon as possible

    Reply
  • Mateen
    20/07/2018 at 1:36 PM

    I need toyota gli automatic please send me should fon one year

    Reply
  • Firdous
    01/07/2018 at 7:17 PM

    Salam

    I need schedule for cultus, vaganor and swift as soon as possible.

    Reply
  • Mumtaz Ahmed
    17/05/2018 at 12:54 PM

    Aslam o alikum dear sr/ madam
    I need plan HONDA BRV 2018 pales send me my email

    Mumtaz Ahmed

    Reply
  • Mumtaz
    17/05/2018 at 12:00 PM

    I need Honda city new car a loan

    Reply
  • Muhamma imran
    22/03/2018 at 10:27 AM

    Aslam o alikum dear sr/ madam
    I need plan suzuki Bolan vx 2018 pales send me my email

    Muhammad imran Sharja UAE

    Reply
  • Khalid Nawaz
    21/03/2018 at 2:20 PM

    I need suzki every car plan

    Reply
  • Anwar Zeb
    22/02/2018 at 3:29 PM

    For Toyota 2012 plan should be of 5 years

    Reply
    • ali
      24/03/2018 at 5:16 PM

      03017242115 for car loan mcb kindly guide me

  • Anwar Zeb
    22/02/2018 at 3:27 PM

    I want Toyota 2012 Model. Plz tell me the modalities.

    Regards

    Reply
  • Shamshad ali
    15/02/2018 at 8:49 AM

    I want to buy Suzuki Nolan plz help me
    Cell no 03347546423

    Reply
  • Rohail Ashraf
    15/01/2018 at 5:19 PM

    hi i want to buy Mehran vx…my contact no
    03224048295

    Reply
  • baseer jan
    08/12/2017 at 1:10 PM

    I m servig persone,want a car on instalment,plz provide me cell contact no me to know the procedures
    my contact no is 03466291158
    fb id is below

    Reply
  • Mohamed Siddiq
    16/11/2017 at 10:06 PM

    I want to buy Toyota client 2018 model.i am overseas Pakistani please guide me
    about car price and instalment

    Reply
  • Muhammad Bilal
    02/11/2017 at 10:13 PM

    I need used toyota corolla 2015 model. here I want you tell me whats the procedure on lease this car and if I buy 5 years plan then how much money I will give you on behalf of down payments and how much payments I will pay on every month. please send me the detail I am waiting your reply.
    regards Muhammad Bilal.

    Reply
  • haroon murtaza Khan
    26/10/2017 at 12:01 PM

    I want loan for Honda 1.5 Auto transmission . I am salaried person working in Shaukat Khanum Hospital Lahore.

    Reply
  • liaqat ali
    18/09/2017 at 3:15 PM

    I want loan for mehran plz guide me with detail

    Reply
  • zahid farooq
    12/07/2017 at 6:42 PM

    I need mehran new car a loan

    Reply
  • Abdul waheed
    01/05/2017 at 1:49 PM

    I need a car for loan

    Reply

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