BOP Roshan Cargar product empowers resident’s family members of non-resident Pakistani’s to apply for an Auto Loan in Pakistan. This loan can be applied only by close family members (i.e. Mother, Father, Son, Daughter & Spouse of Roshan Digital Accountholder (RDA) of BOP.
Features & Limit:
| Features |
Details |
| Financing Limit |
Minimum Rs. 100,000/- Maximum Rs. 7.0 million |
| Tenure |
1-7 years |
| Markup Rate |
*1 year KIBOR + 3% (Exclusive Rate) |
| LKM |
Minimum 20% for local and minimum 30% for Imported vehicles |
| Minimum Monthly Remittance |
Rs. 50,000/- |
| DBR |
50% |
| Co-borrower |
Mother, Father, Son, Daughter & Spouse of Roshan Digital Accountholder (RDA) of BOP |
| Processing Charges |
Rs 6,000/- per unit |
| Insurance & Tracker Cost |
2.75% with tracker for all vehicles |
| Evaluation/ Registration/ Legal Charges |
At actual |
| Repossession Charges |
At Actual up to maximum of Rs 100,000/-, whichever is lower |
| Warehouse Charges for repossessed vehicles |
At Actual (Max Rs. 500/- per day) |
| Survey charges for repossessed vehicle |
At Actual |
| Pre-Payment (Partial or Full Adjustment) |
5% on Principal Outstanding Amount
(However, if the customer repays in order to obtain finance for new vehicle no penalty shall be charged)
|
Late Payment Penalty |
Rupee 1/- per thousand per day of installment amount from due date till actual payment. |
*KIBOR as on the last day of preceding month from the date of disbursement shall be taken to calculate mark-up rate & preparing amortization plan. It will be as per Bank’s prevalent policy for KIBOR based pricing.
|
Eligibility Criteria:
The individual lease/ loan facility can be provided to non-resident Pakistani nationals.
Dependents (Mother, Father, Son, Daughter & Spouse) of Non-Resident Pakistani.
Documentary proof of remittances including bank statement/ Remittance receipts etc.
Applicants can apply for the loan by sending email at referral@bop.com.pk or rda@bop.com.pk In addition, the resident family members can also visit the nearest BOP branch,
or Call our Call Centre. BOP staff will contact you or your family member within 2-3 working days.
Documentation Requirement For Foreign Remittance:
Job/ Income proof
Passport copy
Remittance slip / Bank Statement for 6 months.
Latest Photograph
Valid CNIC / NICOP
Valid Visa / Aqama