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BOP Roshan Apni Car


BOP is providing its Roshan Digital Account holders / Naya Pakistan Certificate holders with an opportunity to finance a Car on discounted mark-up rates and special insurance package with value added services. Financing facility is available for new locally assembled and completely build up (CBU) vehicles.


BOP is also providing Roshan Apni Car to its Roshan Digital Account holders / Islamic Naya Pakistan Certificate holders under Islamic mode of financing.
For desired information. Click Here

Roshan Apni Car Product Features

Particulars Details
Loan Size Maximum PKR 10,000,000/-
Down Payment / Equity Requirement • Min 15% of Vehicle’s Value
• 0% Equity against Lien Based Financing
Financing Tenor Loan maximum up to 07 Years
Eligibility criteria for Roshan Apni Car Must be Bank of Punjab Roshan Digital Account Holder. AND
Local Nominee in Pakistan is mandatory.
Lien Based Financing 100% Lien over Roshan Digital Account balance/ Naya Pakistan Certificate maintained with BOP in PKR and 120% lien over foreign currency deposit to the tune of invoice price of vehicle being leased. No age limit for this segment.
Non Lien Based - Salaried • Minimum Age 21 Years to 65 Years at time of loan maturity
• Currently employed, with a total employment experience of Minimum 06 months for regular Salaried Individual and Minimum 1 Year for contractual salaried individual.
Non Lien Based – Self Employed Businessman / Self Employed Professional • Minimum Age 21 to 65 years at time of loan maturity
• Minimum 06 months in current Business / Professional.
Special Incentives For
Lien / Non Lien Based
• Extremely low mark-up rates.
• Special insurance rates with value added services.
• Priority car delivery.
• Tailored car financing solution.
• Quick Processing with visibility at each step.
Additional Loan relaxations for Lien Based • No Limit on age requirements
• No income proof required
• No down payment required
• No credit history required for abroad
• Waiver of DBR

Roshan Apni Car Documentation Requirements


  • Duly filled LAF by borrower (RDA Account Holder).
  • Copy of CNIC/NICOP/POC of RD Accountholder and Nominee / co-borrower as applicable
  • Proof of current Non-Resident Status of RD Accountholder and relationship with Nominee / co-borrower through following documents:
  •       o Work Visa on Pakistani Passport or foreign passport.
          o Nadra’s latest computerized FRC/Form ‘B’/ Marriage Certificate

  • Proof of being in business or profession of RD Accountholder for last 6 Months’ at minimum.
  • Proof of source of income/ funds, through following documents;
  •      o For Salaried individual: Employment letter, Current salary slip or latest at least 6 months’ bank account statement.
         o For SEB/SEP: Business registration document and latest 1 year bank account statement.

  • Copy of professional degree of RD Accountholder (for professionals).
  • Consent of RD Accountholder for grant of auto loan by BOP against his RDA and debit Authority towards recovery of monthly loan instalments.
  • Undertaking by RDA holder to continue sending adequate foreign remittance to his RDA to regularly service the proposed auto loan facility.
  • Documentation requirement as per segment:

Lien Based Customer Undertaking to mark lien on collateral, Letter of Lien, Letter of set-off, PG (personal guarantee)
Salaried Individual Salary Slip (if not provided at the time of RDA Opening)
Businessmen Tax return or any other proof of income (If not provided at the time of RDA Opening)
Latest 1 year Bank Statement
Remittance Based Remittances through RDA or any other account (Proof required)

Pricing


Floating Pricing Rate
Lien Based SBP Floor* + 1%
Non-Lien Based 01 Year KIBOR** + 1%
*SBP Overnight Repo (Floor) Rate which is currently prevailing at 6%.
**Karachi inter-bank offer rate.

Auto Finance Insurance Rates for RDA Customers

Adamjee EFU Jubilee UBL Insurers Askari Ins. IGI Ins. United Ins. Century Ins. SGI
Exclusive Rates (Standard Product)
– Without Tracker 1.50% 1.40% 1.75% 1.40% 1.75% 1.50% 1.50% 1.75% 2.25%
– With Tracker 1.99% 1.99% 1.99% 1.89% 2.00% 1.75% 1.75% 2.25% 2.50%

Rates with Add-ons (VAS*)

Adamjee EFU Jubilee UBL Insurers Askari Ins. IGI Ins. United Ins. Century Ins. SGI
Value Added Services
– Without Tracker 2.90% 1.40% 2.25% 2.90% Additional Premium of Rs. 2,000 Per Loan Per Annum 1.99% NA 1.75% 2.50%
– With Tracker 3.50% 1.99% 2.50% 3.50% Additional Premium of Rs. 2,000 Per Loan Per Annum 1.99% NA 2.25% 2.50%

Rates with Add-ons (VAS*)

Adamjee
  • Road Accidental Death Cover for loan borrower of sum insured of vehicle or PKR 2.5 Million whichever is less.
  • Health Insurance plan of 20% of Vehicle’s Sum Insured or PKR 500,000 whichever is less. (Applicable for Age limit not more than 60 years)
  • Online unlimited medical consultancy (Sehat Kahani) with Audio and Video call both options for General Physician + Specialist. Facility available for loan borrower, Spouse and Kids
  • Travel Insurance plan for loan borrower of USD 50,000 (Only applicable for Vehicle with sum insured above PKR. 2 Million).
  • EFU
  • Personal accidental death coverage of PKR 2.5 million of the life of policy holder.
  • Jubilee
  • Full outstanding financed amount to be paid by Jubilee General in the event of accidental death of Roshan Digital Account Holder, anywhere in the world.
  • Free medical expense cover up to PKR 1,000,000/- in case of hospitalization of Roshan Digital Account holder during the trip to Pakistan for 30 days.
  • Rates are applicable up to vehicle value of PKR 10 Million.
  • UBL Insurer
  • Personal accidental death coverage of PKR 2.5 million of the life of policy holder.
  • Askari Ins.
  • Accidental Medical Coverage for borrower up to Rs.500,000 p.a
  • IGI Ins.
  • Accidental death coverage up to Rs.2.M
  • Accidental Health Insurance Plan up to 20% of Vehicle
  • Travel Insurance Plan up to USD Rs.50,000 for Single trip on maximum one month visit
  • United Ins.
  • NA
  • Century Ins.
  • Accidental death coverage up to Rs.2.5 M
  • SGI
  • Accidental death coverage up to Rs.250,000
  • Frequently Asked Questions


    1. What is Roshan Digital Account (RDA)?

    Roshan Digital Account (RDA) is a major initiative of State Bank of Pakistan, in collaboration with commercial Banks operating in Pakistan. These accounts provide innovative banking solutions for millions of Non-Resident Pakistanis banks (NRPs) seeking to undertake banking, payment and investment activities in Pakistan

    2. What is BOP Roshan Apni Car?

    BOP Roshan Apni Car is an Auto Loan Facility where RDA holders can enjoy Auto Lease / Loan Facility from BOP on Privilege terms.

    3.Who can apply for BOP Roshan Apni Car?

    Customers maintaining their Roshan Digital Account (RDA) with BOP.

    4.Who can benefit from this offer

    BOP RDA Holders and their Family Members in Pakistan.

    5. What are the benefits of BOP Roshan Apni Car?

    • Fast Track Processing Quick and hassle free processing of Auto loan referrals made under RDA Auto Loan. This includes:
    •    o Minimum documentation requirement
         o Easy & flexible terms
         o Priority processing for Lien based segment.

    • Privilege Markup Rates
    •    o Standard Segment: 1 Year KIBOR* + 1.00%
         o Lien Based Segment: SBP Floor Rate**+ 1.00%
          * KIBOR rate (1 year Offer Side) on the last day of the preceding month will be used.
          **(“SBP Floor Rate” published by State Bank of Pakistan)
    6. Who can be the Local Nominee / Co-Borrower for BOP Roshan Apni Car?

    To avail the Roshan Apni Car facility Local Nominee / Co- Borrower is mandatory. Nominee / Co-Borrower has to be from the following categories:
    Parents, Siblings, Spouse and Children

    7. What are the mandatory requirements to avail BOP Roshan Apni Car?

    Mandatory Requirements are:

    • Must be BOP Roshan Digital Account Holder
    • Local Nominee / Co-Borrower in Pakistan is mandatory.
    8. Can I Apply for this facility?

    Yes you can if,You are a BOP RDA holder and have a relative in Pakistan who can apply with you as a Nominee / Co-Borrower.

    Minimum qualifying criteria;

    Salaried Individual:
    • Minimum Age 21 Years to 65 Years at time of loan maturity
    • Currently employed, with a total employment experience of 06 months for permanent and 01 year for contractual
    Self Employed Businessmen/Professional:
    • Minimum Age 21 to 65 years at time of loan maturity
    • Income calculation through bank statement or tax returns
    • Minimum 06 months in current Business / Profession.
    Remittance based financing:
    • Regular remittance credits to your family members (Nominee / Co-Borrower) in Pakistan.
    • There is a continuity of remittance – at least 6 regular deposits in Nominee / Co-Borrower’s account through Foreign Account or Roshan Digital Account or Remittance Slips.
    Lien based financing:
    • Roshan Digital Account holders can avail auto loan against lien on their Pak Rupee Roshan Digital Account or Pak Rupee Naya Pakistan Certificate.
    • 100% Lien over Roshan Digital Account balance/ Naya Pakistan Certificate maintained with BOP in PKR and 120% lien over foreign currency deposit to the tune of invoice price of vehicle being leased.
    • Financing against Lien on Naya Pakistan Certificate shall be extended with respect to the term / period of Certificate. Where RDA holder wishes to avail facility for extended period he shall arrange the Certificates as per the financing tenure.
    9. How can the customer apply for Roshan Apni Car?
    • Customer will initiate the auto loan request from RDA webpage on BOP Website www.bop.com.pk
    • Customer is required to fill an online application form on Roshan Apni Car Web Portal.
    • BOP RDA Customer Nominated Nominee / Co- Borrower in Pakistan will be contacted for further documentation and completion of formalities.
    10. How much Loan Facility can I avail?

    Maximum Loan Amount can be avail up to 10 Million for Locally Manufactured New and Completely Build Up (CBU) vehicles.

    11. What Mode of Financing is offered in BOP Roshan Apni Car?

    Financing on Variable Rate

    12. What is the period of the Loan?

    Maximum up to 07 Years

    13. How much initial down payment do I have to make?
    • Min 15% of Vehicle’s Value against Non-Lien based Financing
    • 0% Equity against Lien Based Financing
    14. What is the processing fee?

    You have to pay a processing fee of PKR 6,000/- (16% Federal Excise Duty will be levied)

    15. What other charges do I have to pay?

    All other charges will be applicable as per the Schedule of Service Charges.

    16.Which vehicle categories are offered for financing through BOP Roshan Apni Car?

    Under Roshan Apni Car Brand New Locally Manufactured and Completely Build Up (CBU) Vehicle financing is offered only.

    17.How do I repay the loan?
    • Monthly installments shall be paid through Direct Debit Instructions from PKR Roshan Digital Account.
    • It is mandatory for Foreign Roshan Digital Account Holder to open Roshan Digital Account in Pak Rupee.
    18. Can I repay the loan before the maturity?

    Yes, you have the option to repay the loan as per the prevailing SOC’s.

    19. What is the security of the loan?

    The car is the security, which will be registered in favor of the bank

    20. Whose name will the car be booked and registered in?

    Vehicle will be booked and registered in the name of the Bank

    21. What will be the Loan application Processing time?

    05 working days after completion of all required documents.
    *TAT may extend in case of any additional scrutiny, delay of documentation or any unforeseen circumstance beyond Bank’s control.

    22. What will be the Vehicle delivery time by manufacturer?

    Priority delivery up to half of the actual tentative time of delivery as per Provisional Booking Order Form.
    *The above mentioned delivery timeline is tentative and subject to change by the manufacturer.

    Roshan Apni Car EMI Calculator


    For EMI Calculator, Click Here



    This page was last updated on: July 1, 2021 9:20:00 AM
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