FOR IMPARTIAL ADVICE & INFORMATION ON Bank Islami PRODUCTS, VISIT THE FOLLOWING SECTIONS
Helpline : 03-111-222-461
The State Bank of Pakistan declared BankIslami Pakistan Limited as a Scheduled Bank with effect from March 17, 2006. BankIslami started its Banking operations on 7th April 2006 with its first branch in SITE, Karachi. By the end of 2006, the Bank had 10 branches, nine in Karachi and one in Quetta. The Bank further concentrated in building a nationwide network and by the end of year 2007, its branch network grew to 36 branches in 23 cities. In 2008, the Bank opened 66 new branches nationwide which expanded its network to 102 branches in 49 cites. By the end of 2014, the Bank has achieved the target of 213 branches in 80 cities nationwide.
Auto Finance from Bank Islami is designed to give borrowers the chance to own their very own vehicle through a flexible car loan product. For brand new vehicles, borrowers can spread the loan over as long as seven years and there is a minimum and maximum financing amount available. However, borrowers can also use this loan to purchase a used or reconditioned vehicle, where they can also spread the loan over a maximum term of seven years. The car cannot be more than twelve years old when the loan matures and it must not be more than nine years old when the finance is put in place.
This account provides customers with the chance to save while benefiting from a wide range of features. Customers will receive a cheque book, pay order, inward cleaning, online banking providing greater control and free E-Statements.
The aim of home financing through Bank Islami is to give borrowers the option to purchase their property in an affordable way. Borrowers have the ability to pay the loan over as much as twenty-five years while the amount borrowed can differ depending on circumstances.
However, for those who want to build their own home, they can borrow the funds based on a construction time of two years, with the loan being paid over a maximum of 25 years. There is a wide financing range available and different amounts on offer depending on circumstances.
If borrowers plan to renovate an existing property then they can do so using this product. The renovation work must be completed within six months and the loan can be spread over as much as seven years making the repayments affordable.
Should borrowers wish to switch from a current plan, then they can use this home financing product to do so.