Tuesday, 28 May 2024
Trending
Auto Loan Car Financing in Pakistan
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 |

See also  Sales tax zero rated Supplies in Pakistan
Newsletter
Subscribe Now

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

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: