Bank of Punjab Car Loan Calculator

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Written By KennethChing emerged from a shared vision: to make loan management accessible and understandable for everyone.





In the past two decades, Pakistan’s banking sector has grown by leaps. It now offers a variety of consumer loans to suit different purposes. These include personal loans, car loans, mortgages, home loans and credit cards. Even the most conservative banks have opened their consumer lending counters due to fierce competition. Many consumer loans are available from government-owned banks, such as the Bank of Punjab. They offer easy terms and conditions at affordable rates. Bank of Punjab (BOP), offers car loan facilities through their product Charger, at very affordable rates for salaried people and businessmen. The Punjab Bank Car Loan allows you to purchase brand-new vehicles locally, import vehicles or use them. Let’s take a look at the Bank of Punjab Car Loan.

The Basic Features of Punjab Bank Car Loan

Eligibility Criteria

For car loans, you must meet the following criteria: age, work experience, income, salary, credit report and debt service ratio.


The car loan is available to salaried individuals aged 21-60. This age limit applies to self-employed people and businessmen.

Working Experience

You can apply for the Bank of Punjab Car Loan if you are a salaried employee. However, permanent employees must have at least one (1) year of experience. Two years is required for contractual employees. For businessmen, the minimum duration for your business is one year.


For salaried individuals, the minimum monthly salary for permanent employees should be at least 30,000. The minimum salary for contractual employees should not exceed 40,000 per month. Your business income should not exceed 50,000 per month if you are a businessman. Your bank statement/ financial statements must support your income/salary.

Ratio of Debt Service:

Banks look at your salary and calculate your Debt Service Ratio (or Debt Burden Ratio). All your current loans, including personal loans, credit cards and housing loans, are added together and divided by your gross income. The maximum debt burden ratio as set by the State Bank of Pakistan is currently 40 %. If your debt burden is already 40%, you will not be eligible for any loans. The Punjab Bank Car Loan Calculator will allow you to calculate your credit limit. This is done by adding the estimated installment of the car loan to your monthly installments, and then dividing it by your gross income/gross salary.

Clean Credit Report

Banks will first retrieve your eCIB file to verify your credit history. Credit reports provide information about any defaults you might have committed in the last year, as well as whether you have missed your monthly payments. An eCIB clean is a prerequisite for loan eligibility. Consumers who default on their payments or are in a pattern of late repayments will not be eligible for bank loans.


The minimum down payment allowed by the state bank of Pakistan has been established. The minimum down payment for vehicles with engines of less than 1000 CC will be 20%. The minimum down payment for vehicles with engines greater than 1000 CC is 30 %. If your debt burden ratio does not meet the minimum, you may need to increase your downpayment. Banks may have different requirements for down payments for imported and used vehicles. Choose your down payment using the drop-down menu of Bank of Punjab Car Loan Calculator Pakistan.

Credit Tenure

While credit tenures for different vehicles and customers might vary, there are certain requirements that all banks must follow. Maximum tenure for vehicles with engines of less than 1000 CC is seven years. Vehicles with engines greater than 1000 CC have a maximum tenure of 5 years. There may be a variation in the allowed tenure of used or imported vehicles depending on their year of production and their condition. Choose the right tenure from the drop-down menu in the Punjab Bank Car Loan Calculator.

To estimate your monthly installment, use the Bop Car Loan Calculator

  • The Bank of Punjab Loan Calculator is easy to use and has a drop-down menu that is easily understood.
  • You can choose whether you are a salaried employee or a businessman from the menu.
  • Next, select the vehicle you wish to finance from the Bank of Punjab Car Loan Calculator.
  • Choose whether you wish to finance a new or used vehicle using the drop-down menu.
  • From the drop-down menu, select the make and model you want.
  • Next, choose the amount of down payment that you would like to make for the Punjab Bank Car Loan.
  • Choose the term of your Bank of Punjab Car Loan.

You can press calculate to see a repayment plan and a breakdown of key figures like finance amount, down payment and mark-up rates, insurance rate and monthly installment.