BOP Roshan Cargar Frequently Asked Questions FAQs

Frequently Asked Questions (FAQs)

1. What is BOP Roshan Cargar?

This loan can be applied only by close family members (i.e. Mother, Father, Son, Daughter & Spouse) of Roshan Digital Accountholder (RDA) of BOP

2. Which types of vehicles can I get leased under BOP Roshan Cargar?

You can apply for all unregistered local or foreign manufactured / assembled vehicles.

3. What is the Lease Tenure for BOP Roshan Cargar?

BOP Cargar Auto Leasing ranges from I year to 7 years depending upon your requirement.

4. Can I apply for BOP Roshan Cargar?

To apply for the lease facility, you should fulfill the following eligibility criteria:
• Minimum Monthly Remittance: PKR 50,000/-
• Minimum Age: 21
• Maximum Age: 65 (at loan maturity)
• Clean ECIB
• Average balance of last 03 months at BOP and 03 months in any other bank in the Roshan Digital Account/ any other Account (Local or Foreign) should be equal to Rs. 500,000/-

Any customer qualifying the above criteria becomes a pre-approved applicant for BOP Roshan Cargar loan. However, car loan shall only be approved once an applicant applies for the said loan, open an RDA account with BOP and meets the requirements hereunder:

• Proof that remitter is still abroad through work visa on passport copy or a copy of foreign passport
• Proof of remitter’s relationship with the applicant
• Proof of remitter’s business/ job status abroad

5. How much Lease Key Money (i.e. security deposit) do I have to deposit?

The minimum LKM to be deposited is as follows:
• For Local Vehicles 20%
• For Imported/ Used Vehicles 30%

6. What documents are required for availing the facility (Required Documents)?

1. Job/ Income proof 2. Passport copy 3. Remittance slip / Bank Statement for 6 months 4. Latest Photograph 5. Valid CNIC / NICOP 6. Valid Visa / Aqama

7. What other charges will I have to pay in order to avail the lease facility?

The customer will have to pay one time processing fee (non-refundable) Processing Fee: Rs. 6,000/- per case

8. When is the Monthly Installment to be deposited?

The monthly installment should be deposited in your BOP Account on or before 5th of every month.

9. What will be included in the monthly installment?

Total monthly rental will include principal, mark-up and insurance amount.

10. What will be included in the Down Payment?

Down Payment will include processing/ documentation charges, first year insurance premium, minimum lease key money and any other taxes/ duties applicable by government.

11. Is there any Late Payment Penalty on delay of depositing the monthly installment?

Yes, in case of late payment Rs. 1/- per thousand per day of installment amount from due date till actual payment shall be charged.

12. Will I have to pay any additional charges on Pre-Payment/Balloon Payment of my installments?

Yes, you will be charged an amount of 5% on your Principal Amount.

13. Can the application for the loan be canceled?

Yes, the bank is authorized to cancel any request if you cannot fulfill the necessary requirements of the bank.

14. What are my rights and obligations regarding the facility?

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 pronouncement.
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.

15. In case of any queries, whom should I contact?

You can approach the bank officials by using the following contacts: For General Queries: 042-35817595/99268092. To lodge any complaints: rfdcomplaints@bop.com.pk