Meezan Car Ijarah 2025 – Installment Plans, Calculator & Requirements. If you are looking for an interest-free car financing option in Pakistan, Meezan Bank’s Car Ijarah is one of the best choices. This product follows Islamic banking principles and allows you to drive your dream car without paying conventional interest. Instead, it works as a lease-to-own system, where the bank buys the car and rents it to you for a fixed period. After completing the term, you become the owner of the vehicle.
In this article, we will cover Meezan Car Ijarah Calculator, installment plans, eligibility, documents, residual value, and requirements in detail.
What is Meezan Car Ijarah?
Meezan Car Ijarah is Pakistan’s first Shariah-compliant car financing product. It is based on the concept of Ijarah (leasing), where the bank purchases the car and leases it to the customer for 1 to 7 years.
At the end of the Ijarah term, the car is transferred to the customer either as a gift or through token payment.
How It Works:
- Bank purchases the car of your choice.
- You pay an upfront deposit (security deposit/advance rent).
- Monthly rentals are paid for an agreed period.
- After completion, the vehicle ownership is transferred to you.
This model ensures Halal financing without charging interest (Riba).
Key Features of Meezan Car Ijarah
- Interest-Free Financing – Based on Islamic leasing principles.
- Quick Processing – Fast approval and minimal waiting.
- Low Security Deposit – Starts from 15% (for local vehicles).
- Flexible Tenure – 1 to 7 years repayment plan.
- No Hidden Charges – Transparent and Shariah-compliant.
- Withholding Tax – Paid by Meezan Bank.
- Roshan Digital Account Holders – Facility available for overseas Pakistanis.
Meezan Car Ijarah Calculator
The Meezan Car Ijarah Calculator helps you estimate your monthly installment amount before applying.
You need to enter:
- Car price
- Down payment (security deposit)
- Tenure (1 to 7 years)
- Residual value option (if selected)
The calculator shows your monthly rental payments instantly.
You can use the calculator directly from the Meezan Bank official website to plan your car financing.
Meezan Bank Installment Plan Car (2025)
Meezan Bank offers flexible car installment plans for both new and used cars. The plans differ based on the customer type (salaried or businessman) and vehicle type (local or imported).
Standard Installment Plan:
- Tenure: 1 – 7 years
- Security deposit: 15% – 35% depending on profession and vehicle type
- Monthly rental: Based on financing amount and tenure
Meezan Bank Car Installment Plan 2025 (Updated)
In 2025, Meezan Bank continues to provide competitive installment options. Below is a simplified example for clarity:
| Car Price | Security Deposit | Tenure | Monthly Installment (Approx.) |
|---|---|---|---|
| PKR 2,500,000 (Suzuki Alto VXL) | 25% (PKR 625,000) | 5 Years | PKR 37,000 – 42,000 |
| PKR 4,500,000 (Toyota Yaris) | 30% (PKR 1,350,000) | 5 Years | PKR 65,000 – 70,000 |
| PKR 8,000,000 (Honda Civic) | 35% (PKR 2,800,000) | 7 Years | PKR 95,000 – 105,000 |
Meezan Bank Installment Plan Car PDF
Meezan Bank provides an official PDF document with complete details of the Car Ijarah scheme, including:
- Profit rates
- Security deposits
- Rental calculations
- Required documents
This PDF can be downloaded from Meezan Bank’s official website or obtained from your nearest branch.
Suzuki Alto on Installment from Meezan Bank
Suzuki Alto is one of the most affordable cars in Pakistan and a popular choice for financing.
Example Plan for Suzuki Alto (2025):
- Price: PKR 2,500,000 (approx.)
- Security deposit: PKR 625,000 (25%)
- Tenure: 5 years
- Monthly rental: PKR 37,000 – 42,000
With low maintenance and fuel efficiency, Suzuki Alto is an excellent choice for customers using Meezan Car Ijarah.
Meezan Bank Car Loan Requirements
Although Meezan Bank calls it Car Ijarah, many customers search as Meezan Bank Car Loan. The requirements are simple:
Eligibility Criteria:
- Age: 25 – 60 years (salaried), up to 65 years (businessmen)
- Employment: Minimum 2 years continuous job history for salaried; 3 years business experience for self-employed
- Income: Net take-home income must be at least 2x the monthly rental
- Credit History: Clean e-CIB and no loan defaults
Required Documents:
Salaried Professionals:
- CNIC copy
- Recent payslip
- 6 months salary bank statement
- Employment certificate
Businessmen / Self-Employed:
- CNIC copy
- Business proof (NTN, registration, etc.)
- 6 months bank statement
- Tax returns (if applicable)
What is Residual Value in Meezan Car Ijarah?
Residual Value (RV) is a special Ijarah model where the monthly rentals are lower compared to the regular plan.
How it Works:
- You agree to pay a residual amount at the end of the tenure.
- This reduces your monthly rental.
- At maturity, you can:
- Pay the residual value and own the car, OR
- Return the car to the bank.
Residual Value Percentages:
| Tenure | Residual Value % |
|---|---|
| 1 – 2 Years | 60% |
| 3 – 4 Years | 50% |
| 5 Years | 40% |
This option is great for customers who want lower monthly installments or wish to drive high-value cars with flexible end-of-term options.
Product Profit Rates (2025)
| Tenure | Fixed Profit Rate (Approx.) | Variable Profit Rate |
|---|---|---|
| 1 Year | 12.46% | 12.27% |
| 3 Years | 12.60% | 12.27% |
| 5 Years | 12.88% | 12.27% |
| 7 Years | 13.20% | 12.27% |
(Rates may change based on SBP regulations and bank policy.)
Takaful & Tracker Services
Meezan Bank uses Takaful instead of Insurance, ensuring Shariah compliance.
- Takaful Providers: EFU, Adamjee
- Average Rate: 1.99% – 3.50%
- Additional Benefits:
- Accidental death coverage (up to PKR 2.5 million)
- Health plan coverage
- Online medical consultancy
- Travel Takaful
Why Choose Meezan Car Ijarah?
- Shariah Compliance – No Riba, fully Halal financing.
- Flexible Plans – Tenure from 1 to 7 years.
- Affordable Rentals – Lower monthly payments with residual value.
- Transparency – No hidden fees or interest.
- Quick Processing – Faster approval compared to conventional banks.
How to Apply for Meezan Car Ijarah
- Visit nearest Meezan Bank branch.
- Fill out the Car Ijarah Application Form.
- Attach required documents.
- Wait for credit and e-CIB check.
- Upon approval, the bank purchases your selected car.
- Vehicle is delivered, and you start paying monthly rentals.
FAQs – Meezan Car Ijarah 2025
Q1: Is Meezan Car Ijarah the same as a car loan?
No. It is Islamic car leasing, not a loan. You pay rentals instead of interest.
Q2: Can I finance a used car through Meezan Bank?
Yes. Both new and used cars (locally assembled and imported) can be financed.
Q3: What is the minimum down payment required?
For locally assembled cars, 15% – 25%. For imported SUVs, 25% – 35%.
Q4: Can overseas Pakistanis apply for Car Ijarah?
Yes. Roshan Digital Account holders can avail this facility.
Q5: What happens if the car is stolen or damaged?
Under Islamic Ijarah, rentals stop if the asset is destroyed or stolen, unlike conventional leasing.
Conclusion
Meezan Bank’s Car Ijarah 2025 is one of the most popular and trusted Shariah-compliant car financing solutions in Pakistan. Whether you want a Suzuki Alto, Toyota Yaris, or Honda Civic, this scheme provides affordable monthly rentals, low upfront payment, and Halal financing.
