How to apply for a car overseas from UBL Bank in Roshan Apni car scheme 2021
FAQs:
How can apply for UBL Roshan Apni Car?
You can apply through UBL website or through email. UBL representative will contact you.
Who can avail UBL Roshan Apni Car?
You can avail Car financing facility by opening Roshan Digital Account in PKR currency.
What are financing options of UBL Roshan Apni Car?
You have following financing options
- Segment 1: Lien Based Financing
- Segment 2: Non Lien Based Financing
What is Lien Based Segment?
In lien based segment, you have to make investment in Islamic /conventional Naya Pakistan
Certificates or balance in your Roshan Digital Account in Pak Rupees equivalent to the financing
amount which will be lien / pledge equal to the tenure of financing.
You cannot premature the certificate or withdraw/repatriate the funds from your Roshan Digital
Account until the maturity or full settlement of the financing.
What is Non-Lien Based Segment?
In this segment financing will provided on the basis of your income and remittances. You will be
eligible if you have remitted atleast three consecutive remittances to your family member in
Pakistan.
Basis and Documentation of Financing?
You (RDA Holder) will be Main Applicant and your family member will be the Co Applicant. Both
will sign off the legal agreements and other documents. You (RDA Holder) have to provide the
proof of relationship with Co Applicant.
How financing is Shariah Compliant?
Financing is based on Shariah Compliant mode of Diminishing Musharakah.
How Vehicle will be delivered and registered?
You will give authorization to Co-applicant (family member: Parent, Spouse, Children, Real
Siblings) for dealing with bank in Pakistan and to take the delivery of vehicle. The vehicle will be
registered in the name of co-applicant residing in Pakistan.
What is the maximum limit of financing of UBL Ameen Drive?
Maximum Rs. 8,000,000/-
What is the tenure of the financing?
Minimum 1 year and Maximum 7 years Non Lien segment and Maximum 5 Years for Lien Based
Segment.
How much initial down payment do I have to make?
Minimum 15% for lien based segment.
For Non lien based segment, Minimum 15% for New (Locally manufactured) and 20% for
Used/Imported Segment.
Who will evaluate the price of Used, Imported /Reconditioned cars?
You don’t need to worry about evaluation of price Bank’s authorized appraisal companies do this
job.
Who will do the Takaful coverage of my vehicle?
The takaful companies are Adamjee, EFU, Jubilee and UBL Insurers
What is included in my down payment?
Minimum 15% equity of the vehicle price
Processing fee
First year Takaful/Insurance Amount.
What is the process of instalment payment?
Installments can be paid through Direct debit to you Roshan Digital Account or through, cash
payment, online repayment, ATM in Pakistan.
If I want to settle the financing before the maturity?
Yes, you can settle by payment of outstanding amount.
When will the Instalment start?
The instalment will start soon after you receive the delivery of the vehicle
