Tag: Car Loan
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Auto financing in Pakistan declines for fourth straight month due to high interest rates
The number of outstanding auto loans declined for the fourth consecutive month at the end of October, according to data issued by the State Bank of Pakistan (SBP). At the end of November, the total amount of outstanding vehicle loan was Rs345 billion, which is Rs0.1 billion less than the Rs346 billion number for October…
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SBP shortens car loan tenure to deflate import bill
The State Bank of Pakistan (SBP) decreased the consumer lending duration for vehicles on May 24, bringing it to a maximum of three years for cars with engine displacements greater than 1,000cc and five years for those with engine displacements less than 1,000cc. “The maximum tenure of auto finance facility is reduced from five (5) years…