Ijarah means to transfer the usufruct of a particular property to another person in exchange for a rent claimed from him. The term Ijarah is analogous to the English term ‘leasing’. Here the lessor is called ‘mu’jir’, the lessee is called ‘musta’jir’ and the rent payable to the lessor is called ‘ujrah’.
Soneri Bank Mustaqeem Islamic banking offers Car Ijarah facility up to Rs. 2,000,000/-, repayable in 5 years in equal monthly installments. Option of used and reconditioned car are also available. To fulfill your need, please contact your nearest branch of Soneri Bank Limited or call 111-567-890 for application assistance.
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  • Fast and hassle-free application processing
  • Zero processing fee on declined application
  • Security Deposit is required once facility is approved
  • Option of Used and Reconditioned Car is also available
  • Early Settlement option

1. Who can apply for financing?

Salaried individuals of legal entities, businessmen, self-employed professionals, Agriculturists and Rental Income individuals.

2. What is the minimum employment requirement for Salaried Individuals?

Minimum 1 year in current employment or 2 years of continuous employment with permanent status.

3. What is the minimum length of business requirement?

1 year.

4. What is the maximum age requirement?

Applicant’s age is not more than 60 years at the time of facility maturity for salaried and 65 years for businessman/self-employed/agriculturist/rental income.

5. What is minimum income requirement?

Rs. 35,000/-

6. Is co-applicant facility allowed?


7. Can Non-resident Pakistani’s apply for Car Finance?


8. What is the minimum Security Deposit requirement?

20% for brand new local assembled car
40% for used/imported reconditioned car

10. What is the minimum and maximum tenure of Finance?

1 year to 5 years.

11. Can I make Partial Payments?


12. Can I settle my finance early?

Yes, you can early settle your finance any time.

13. Is there any late payment charges?

Yes, late payment charges will be used for Charitable purpose.

Purpose of Finance

  • Ijarah of brand new unregistered locally manufactured/assembled car for personal use.
  • Ijarah of of used/reconditioned cars of not more than 3 years old from manufacturing date with maximum Ijarah Facility of Rs.2 million or 60% of quick sales value (whichever is lower)

Eligible Persons

  • Salaried Persons
  • Self Employed Professionals
  • Business Persons
  • Agriculturists
  • Rental Income Individuals

Financing Amount

Upto Rs.2 Million

Down Payment

  • Minimum 20% for brand new locally manufactured car
  • Minimum 40% for used/imported reconditioned car


1 Year to 5 Years

Processing Fee

As per Islamic Schedule of Charges



  • Completely filled Soneri Car Ijarah Application Form in all respect
  • Copy of valid CNIC/SNIC/NICOP/POC
  • Two passport size photographs
  • Completely filled basic borrower fact sheet
  • Completely filled Annexure CF-1 Undertaking
  • Quotation of Vehicle from Motor Company’s Authorized Dealer

For Salaried Individuals:

  • Employment certificate mentioning date of joining and employment status*
  • Last salary slip/salary certificate*
  • Last 6 months bank statement of salary account *

For Businessmen and Self-employed Professionals:

  • Last 12 months bank statement*

For Agriculturists

  • Last 12 months bank statement*
  • Copy of Agriculture Land document

For Rental Income

  • Last 12 months bank statement
  • Any documentary evidence showing rental income in the form of tenancy agreement/ evidence for ownership of the rented property and latest PT-10 (if applicable)

Debt Burden
Monthly repayments not to exceed 40% of the net take home salary/income or 40% of declared monthly income (taking into account other financing facilities availed from other Banks/DFI)
Takaful of Cars / Motor Vehicles
Vehicle will be comprehensively covered/insured with any of the Takaful Companies listed on the approved panel of bank.

For further details, please Contact your nearest Islamic banking branch