Car Loan EMI Calculator Pakistan 2026
Select a bank, set your down payment and tenure to see live monthly installment, total payable, and full amortization schedule.
Quick Answer
Monthly EMI
Rs. 92,279
HBL · 3 yr · 22.5% p.a.
Loan Amount
Rs. 2,400,000
Total Payable
Rs. 3,322,046
Total Interest
Rs. 922,046
Frequently Asked Questions
How to calculate car loan EMI in Pakistan?
Car loan EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of months. Use the calculator above for instant results from any Pakistani bank.
Which bank has the lowest car loan rate in Pakistan?
As of 2026, Islamic banks like Meezan Bank and Al Baraka offer competitive rates around 21% for car financing under the Diminishing Musharakah model. Conventional banks range from 21.5% to 23%. Rates change with SBP policy rate adjustments, so always verify with the bank before applying.
What is the minimum down payment for a car loan in Pakistan?
Most Pakistani banks require a minimum down payment of 15–20% of the vehicle value. For example, on a Rs. 3,000,000 car, you would need Rs. 450,000 to Rs. 600,000 upfront. Some banks offer up to 85% financing for salaried employees with a clean credit history.
Can I get Islamic car financing in Pakistan?
Yes. Meezan Bank, Al Baraka Bank, and Bank Islami offer Shariah-compliant car financing through Diminishing Musharakah. Instead of paying interest, you and the bank co-own the vehicle and you gradually buy out the bank's share. The monthly payment structure is similar to conventional EMI.
Data Sources: State Bank of Pakistan (SBP) policy rate · HBL Car Finance · MCB Car Azaad · UBL Drive · Meezan Bank Car Ijarah · Bank Alfalah Auto Loan. Rates updated April 2026.