UBL Drive
With UBL Drive, experience unmatched car loan options and the best financing solutions to turn your dream car into a reality. UBL provides convenient offerings and flexibility of payments to get you your dream car instantly.
Product Features
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Choose between locally assembled/manufactured new or used cars.
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Finance up to 70% of the value of your preferred car.
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Financing facility for salaried individuals, self-employed individuals (proprietorship, partners, family business) Landlords (Rental / Agriculture Income), remittance income and pensioners.
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Affordable markup rates with fixed and floating rate options.
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Flexible financing tenure
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Minimum 2 years & Maximum 5 Years (Vehicles up to 1000 CC)
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Minimum 2 years & Maximum 3 Years (Vehicles above 1000 CC)
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Up to 9 years old vehicle can be financed.
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Residual value option for lower instalment.
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Competitive insurance rates with complimentary tracker services.
Markup Rates
Standard Floating markup rates for UBL Drive are as follows;
| Relationship
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1-3 Years
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4-5 Years
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| Existing Customers
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1YK + 4.25%
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1YK + 4.75%
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| New to Bank Customers
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1YK + 4.75%
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1YK + 5.25%
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*Additional 1% to be charged for all cases with any deviation.
Eligibility Criteria:
Salaried Individual
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Pakistan National Identity Card Holder
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Minimum Gross Salary of PKR 35,000
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Minimum Age 21 years old and maximum 60 years old.
Self Employed Business/ Profession
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Pakistan National Identity Card Holder
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Minimum Gross Income of PKR 50,000
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Minimum Age 21 years old at and maximum 70 years old.
Documents Requirement
Salaried Individual
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CNIC and 2 Recent Passport Size Photographs
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Current Verified Salary Certificate stating designation, length of service and salary breakup.
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Original pay slip or copy verified by the bank officer.
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6 months bank statements reflecting salary credits
Self Employed Business/ Profession
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CNIC and 2 Recent Passport Size Photographs
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12 months business bank statements.
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Tax Returns/NTN, Bank Certificate or any related Proof of Business
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Copy of Memorandum of Association, Audited Financial Statements (in case of Pvt Ltd) and Articles of Association
UBL Drive – Residual Value Plan
Under Residual Value product, UBL provides convenience to its customers to pay a lump sum amount (maximum of 50%) at the end of the financing tenure for increased affordability and convenience of repayments. Used vehicles can also be financed under RV option.
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