BOP CarGar Scheme

Frequently Asked Questions (FAQs)

Q: What is BOPCarGar?
A: BOP CarGar is an Auto lease facility for the following types of individual customers:
  • Salaried Individuals (SI)
  • Self Employed Businessmen (SEB)
  • Self Employed Professionals (SEP)
Q: Which types of vehicles can I get leased under BOP CarGar?
A: You can apply for all unregistered local or foreign manufactured / assembled vehicles.
Q: What is the Lease Tenure for BOP CarGar?
A: BOP CarGar Auto Leasing ranges from 1 year to 5 years depending upon your requirement.
Q: Can I apply for BOP CarGar?
A: To apply for the lease facility, you should fulfill the following eligibility criteria:

Eligible Items Salaried Individuals (SI) Self Employed Professionals/ Businessmen (SEP/SEB)
Age: 21 – 60 Years 21 – 65 Years
Job Experience: Permanent Employee: Minimum 1 year Contractual Employee: 2 Years Minimum 1 year in current Business
Salary Account with/ without BOP Maintain salary account
with BOP or any other bank
Salary / Income: Permanent Employee:30 K
Contractual Employee: 40 K
Rs. 50 K (Income) duly supported by
financial statement/bank statement
Q: How much Lease Key Money (i.e. security deposit) do I have to deposit?

A: The minimum LKM to be deposited is as follows:
  • For Local Vehicles 20%
  • For Imported/ Used Vehicles 30%
Q: What documents are required for availing the facility (Required Documents)?
  • Copy of valid CNIC/SNIC/NICOP
  • Latest Salary Slip
  • Employer Certificate
  • Bank Statement for last 6 months
  • One recent Photograph
  • Valid Copies of CNIC of 2 references
  • Copy of CNIC//SNIC/NICOP
  • Bank statement of last 6 months business/ personal
  • One recent Photograph
  • Valid CNIC Copies of 2 references
  • Copy of professional degree required
  • Business Proof
  • Copy of CNIC//SNIC/NICOP
  • Valid Agri Passbook in borrower’s name
  • Latest Fard Malkiat in name of owner.
  • Evidence of self-cultivation
    i.e. Khasra Gardawari
    in favor of applicant. Financial Statements / Income Estimation/
    Project Feasibility / Projected Cash Flows, as applicable.
Q: What other charges will I have to pay in order to avail the lease facility?
A: The customer will have to pay one time processing fee (non-refundable) Processing Fee: Rs. 6,000/- per case. Rs. 1,500/- for Motorcycles .
Q: When is the Monthly Installment to be deposited?
A: The monthly installment should be deposited in your BOP Account on or before 5th of every month.
Q: What will be included in the monthly installment?
A: Total monthly rental will include principal, mark-up and insurance amount.
Q: What will be included in the Down Payment?
A: Down Payment will include processing/ documentation charges, first year insurance premium, minimum lease key money (LKM), registration charges and any other taxes/ duties applicable by government.
Q: Is there any Late Payment Penalty on delay of depositing the monthly installment?
A: Yes, in case of late payment Rs. 1/- per thousand per day of installment amount from due date till actual payment shall be charged.
Q: Will I have to pay any additional charges on Pre-Payment/Balloon Payment of my installments?
A: Yes, you will be charged an amount of 5% on your Principal Amount.
Q: Can the application for the loan/ lease be canceled?
A: Yes, the bank is authorized to cancel any request if you cannot fulfill the necessary requirements of the bank.
Q: What are my rights and obligations regarding the facility?
A: Your rights and duties are mentioned below:
Duties/Obligations Rights:
1. To timely provide all the required information relating to the facility. 1. To receive notification of any change in terms & conditions within 30 days of announcement.
2. Payment by the customer should be made as per the agreed terms in Lease Agreement. 2. To receive the repayment schedule free of cost.
3. To maintain sufficient funds in bank A/C for monthly deductions 3. To contact the bank officials during the business hours.
Q:In case of any queries, whom should the customer contact?
A: You can approach the bank officials by using the following contacts: For General Queries: 042-35817595/99268092. To lodge any complaints:
This page was last updated on: September 3, 2020 12:00:00 AM