Feasibility to pay all installments Requirements of Car financing Meezan Bank

Feasibility to pay all installments requirements of

This preview shows page 3 - 5 out of 5 pages.

Feasibility to pay all installments Requirements of Car financing (Meezan Bank) Salary CNIC Photo Bank Statement of 6 months 2 references Tenure to pay installments 1-5 years and there is no Mark-Up rate in it. Collateral Based Lending ( Gold Loan) Meezan Bank: Not Available UBL Bank: Bank charges KIBOR + 7%-10% (Profit) Running Finance This is a short term finance to meet short term funding. It has not fixed number of payments as in case of installment finances. . Once the finance limit is approved, then the borrower is free to withdraw amounts to the extent of that limit. Criteria for Running Finance Available for working capital requirements e.g. purchase of stocks, raw material etc. Avail finance facility from Rs.0.5 Million to Rs.100 Million Tenure is one year. (Renewable upon expiry). Principal with multiple withdrawals/deposits to be adjusted on or before expiry. Mark-up to be paid on monthly basis. Mark-up rate: 1 year KIBOR + 6.5 % per annum Fast track processing for business existing over two years. Hypothecation of Plant & Machinery/stocks (with 25% margin)
Image of page 3
Money & Banking Cash Finance Cash finance includes loans that are taken in times of urgent need of cash. Generally, cash finance loans take less time for processing and disbursement compared to other loans. It is type of personal loan and in this 7-8 salaries are given in advance and 27% markup rate is charged.
Image of page 4
Image of page 5

You've reached the end of your free preview.

Want to read all 5 pages?

  • Fall '16
  • sir ghulam mustafa shaikh
  • Credit card, Credit history, Meezan Bank, UBL Bank

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors