FINANCE

Auto Financing by banks hit an all-time high

Auto financing by banks hit an all-time high of Rs297.5 billion in Pakistan. As consumers’ hunger for owning a vehicle increased apparently due to availability of the financing. Auto financing in Pakistan is available at low interest rate in spite of the Covid-19 pandemic related financial risks.

Car financing by banks rise up by Rs86.5 billion or 41% over the first 11 months (Jul-May) of fiscal year 2021 to Rs279.5 billion in May 2021 compared to Rs211.11 billion at the end of June 2020, Pakistan’s central bank reported the other day.

The significant cut in the benchmark interest rate created such huge demand for auto financing. This cut calculated at by 625 basis points during March-June 2020 to 7% till today. Banks have passed on the benefit of the rate cut to auto consumers. This has made the auto financing products more attractive.

tax accounting services top tax consultants lahore pakistan
Ads:

Auto Car Financing | Financial News | Tax News | Auto Leasing | Interest Rate | Banks |

Related posts
FINANCE

E-Payment System Introduced for PPSC Online Job Applications

E-Payment System Introduced for PPSC Online Job Applications Punjab Public Service Commission…
Read more
FINANCE

How to Withdraw Payoneer Money from JazzCash

How to Withdraw Payoneer Money from JazzCash. We will learn here that how to withdraw Payoneer…
Read more
FINANCE

1st July Bank Holiday in Pakistan

Table of Contents Is 1 July 2022 a Public Holiday?The bank holidays in Pakistan relates to:July 1…
Read more
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

    Leave a Reply

    Your email address will not be published.