| AITAB Hire Purchase-i |
Based on the principles of Ijarah Thumma Al-Bai of lease then purchase, this is a way to finance your desired vehicle while enjoying our benefits. |
Eligibility
- Individuals above 18 years of age
Benefits
- Competitive financing rates.
- Financing period of up to 9 years.
- Convenience of paying your instalments through our multi delivery channels or at any of the branches in our wide network.
- Attractive margin of financing.
Margin of Financing and Maximum Duration:
- Passenger Vehicles
| Age of Vehicles |
Maximum Margin of Financing |
Maximum Duration |
| New |
Up to 90% |
Up to 108 months |
| Up to 3 years |
Up to 90% |
Up to 108 months |
| Above 3 to 8 years |
Up to 90% |
Up to 84 months |
| Above 8 to 10 years |
Up to 85% |
Up to 72 months |
| Above 10 to 12 years |
Up to 80% |
Up to 36 months |
|
- Commercial Vehicles (with BDM not exceeding 5000kg)
| Age of Vehicles |
Maximum Margin of Financing |
Maximum Duration |
| New |
Up to 85% |
Up to 84 months |
| Up to 8 years |
Up to 80% |
Up to 60 months |
|
- Commercial Vehicles (with BDM exceeding 5000kg)
| Age of Vehicles |
BDM (kg) |
Maximum Margin of Financing |
Maximum Duration |
| New |
Above 5,000 to 10,000 |
Up to 80% |
Up to 60 months |
| New |
Above 10,000 |
Up to 75% |
Up to 60 months |
| Up to 5 years |
Above 5,000 to 10,000 |
Up to 75% |
Up to 48 months |
| Up to 5 years |
Above 10,000 |
Up to 70% |
Up to 48 months |
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Terms & Conditions apply |
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Public Islamic Bank reserves the right to vary the terms & conditions at our absolute discretion. |
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| Code of Ethics on Repossession |
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| Minimum Income Documents Required for Individual Applicants |
| A) Employed |
- Latest 3 to 6 month payslips
or
And one of the following:
- EPF Statement (latest not more than 1 year)
or
- Latest Tax Returns and Tax Receipts
or
- Employment Letter/ Employer confirmation
or
- Latest 3 months Current Account Statement/ Savings Account Passbook or Statement
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| B) Self-Employed |
- Latest 1 year Tax Returns and Tax Receipts
or
- Latest 6 months Current Account Statement/ Savings Account Passbook or Statement
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Any additional income documents may be required at the absolute discretion of the Bank. |
| Current Porfit Sharing Ratio |
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Customer |
: |
Bank |
| Individual/ Non-individual |
31 |
: |
69 |
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