Meezan Bank Car Loan Calculator 2026 (Car Ijarah Installment Plan)
Meezan Bank car loan calculator for Car Ijarah: pick your car, deposit and tenure to see the exact monthly rent with takaful and tracker, the upfront payment, the full cost over the lease, and whether your salary qualifies.
It uses the same formula, car prices and rates as Meezan Bank’s own calculator. In our tests on 21 combinations of car, deposit and tenure it matched Meezan’s figures to the rupee, and it also covers Roshan Digital Account (overseas) customers.
✓ Prices and rates checked on Meezan Bank’s website: 2 November 20261. You
2. Car
3. Deposit and tenure
4. Will I qualify? (optional)
Meezan counts 50% of it.
Compare every tenure for this car
Same car and deposit, different lease lengths. A longer lease lowers the monthly rent but you pay more profit in total.
| Tenure | Monthly rent | Total rent paid | Ijarah profit | Total cost of car |
|---|
Compare deposits
Putting more money down cuts both the rent and the profit you pay.
| Deposit | Pay upfront | Monthly rent | Ijarah profit | Total cost of car |
|---|
Is Meezan cheaper than a conventional car loan?
Enter another bank’s yearly rate to compare the same amount over the same tenure. Conventional loans also charge car insurance, which we add at the same rate as Meezan’s takaful so the comparison is fair.
Year-by-year schedule
| Year | Rent paid | Of which profit | Of which car cost | Takaful + tracker | Still owed at year end |
|---|
Ijarah is a lease: the bank owns the car until the last rent is paid, then transfers it to you.
How the Meezan Car Ijarah rent is calculated
Meezan buys the car and leases it to you. Your monthly rent has three parts:
- Rent for the car. The amount the bank finances (car price minus your deposit) is spread over the lease at a fixed profit rate. For resident customers Meezan’s calculator uses 15% a year on every tenure. For Roshan Digital Account customers the rate is 13.90% (1 year) to 14.37% (7 years).
- Takaful. Car takaful is 1.5% of the car price in year one and falls by 10% each year as the car’s value drops. Meezan spreads it evenly across your rentals.
- Tracker. A fixed monthly charge: Rs 3,300 for cars up to about Rs 40 lakh and Rs 5,800 above that.
Meezan Car Ijarah key facts (2026)
| Item | Resident customers | Overseas (RDA) |
|---|---|---|
| Profit rate | 15% fixed, all tenures | 13.90% (1 yr) to 14.37% (7 yr) fixed; 11.74% variable |
| Tenure | 1 to 5 years (up to 1000cc), 1 to 3 years (above 1000cc) | 1 to 7 years |
| Minimum deposit | 30%, higher if needed to stay within Rs 30 lakh financing | 15% salaried / 25% business; SUVs 25% / 35% |
| Takaful | 1.5% of car price a year, falling 10% a year | 1.5% in Meezan’s calculator; 1.99% listed for EFU and Adamjee |
| Tracker | Rs 3,300 or Rs 5,800 a month by car price | Same |
| Processing fee | Rs 3,800 + FED | No processing charge (documentation at actual) |
| Age | 25+; up to 60 at maturity (salaried), 65 (business) | Same; nominee in Pakistan |
| Withholding tax on purchase | Paid by Meezan | Paid by Meezan; non-filers pay 4% advance tax |
Meezan Car Ijarah guides
Frequently asked questions
What is the monthly installment of an Alto on Meezan Car Ijarah?
For a Suzuki Alto VXR (Rs 29.95 lakh) with a 30% deposit over 5 years, the monthly rent is about Rs 56,598 including takaful and tracker. You pay Rs 9.02 lakh upfront. Change the deposit or tenure above to see other plans.
Is Meezan Car Ijarah halal?
Meezan Car Ijarah is a lease (Ijarah) approved by Meezan Bank’s Shariah Supervisory Board. The bank owns the car and bears ownership risks, rent stops if the car is stolen or totally destroyed, and late-payment amounts go to charity rather than bank income.
Why can I only choose 3 years for a City or Corolla?
State Bank of Pakistan rules limit car financing to 3 years for cars above 1000cc and 5 years for cars up to 1000cc. Overseas Pakistanis using a Roshan Digital Account can lease for up to 7 years.
Why is the minimum deposit higher than 30% for some cars?
A resident can borrow at most Rs 30 lakh for cars from all banks combined. For a car above about Rs 43 lakh, a 30% deposit would leave more than Rs 30 lakh to finance, so the deposit has to rise in 5% steps until the financed amount is under the limit.
How much salary do I need for Meezan Car Ijarah?
Your net take-home pay must be at least twice the monthly rent including takaful, and all your loan payments together must stay under 40% of take-home (50% for business owners buying a car up to 1000cc). Meezan counts 50% of a spouse’s verifiable income.
What is Residual Value Ijarah?
You agree to pay a set share of the car price at the end (60% for 1-2 years, 50% for 3-4 years, 40% for 5 years), so the monthly rent is much lower. At the end you can pay that amount and keep the car, or return it. The calculator’s Residual Value figure is an estimate; ask Meezan for your exact schedule.
Related tools: compare with a conventional bank loan on our car loan calculator, check token tax on the car registration tax calculator, or read Car Ijarah vs car loan.