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Barkat Auto Finance from Faysal Bank is a islamic auto financing option that enables borrowers to purchase a vehicle and make repayments over a term that fits their needs. This product provides an option where the bank and the customer jointly own the vehicle and so, the customer rents their share of the vehicle from the bank while, paying for it in units. Once the units have been purchased, the customer then owns the vehicle. The product is offered under Diminishing Musharakah agreement.

Features and Benefits

Customers can use this finance option to purchase both local and imported vehicles that are either new or used. They can borrow up to 85% of the value of the vehicle, paying back the loan over a period of anything from 1 year to 5 years. All vehicles purchased through Faysal Bank Car Finance are fitted with a tracker, improving safety and security while finance is available on vehicles up to 9 years old. The process time is quick and efficient while documentation is kept to a minimum. Only once the vehicle is delivered will the customer have to begin making repayments. Bank will also require customer to purchase car takaful.


In order for customers to be accepted for this loan, they have to be a Pakistani national. However, this is not a product that is available t everyone as it is only available in the following major cities including Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, Multan, Hyderabad, and Peshawar. 

For salaried individuals who are applying for car finance, they will need to earn a minimum salary of Rs. 30,000 and this changes for those who are salaried individuals. For those who carry out Branch Banking and for those who are Non-Branch Banking, the minimum income requirement is Rs. 40,000 and Rs. 70,000 respectively.

There is an age limit and restriction in place for this product. Those who apply and are salaried have to be a minimum of 21 years old while the maximum age is 65 when the product comes to maturity.  For those who are self-employed, they have to be a minimum of 21 years old and a maximum of 70 years old when the product matures.