HBL car loan (HBL CarLoan) is a fixed-rate car loan: 15.50% a year for new customers, 14.50% for existing HBL account holders and 13.50% for repeat car loan customers, fixed for the whole loan. On a Rs 20 lakh loan over 3 years, that is an instalment of Rs 68,648 a month for an existing customer.
Last updated: 3 November 2026 by Ahmed.
All figures below were worked out with the same formula HBL uses in its own online calculator, and checked against it to the rupee. To try your own car price and down payment, or compare HBL with other banks, use our car loan calculator.
HBL car loan markup rates 2026
| Customer type | Markup rate (fixed) | Instalment on Rs 20 lakh, 3 years |
|---|---|---|
| New to HBL | 15.50% | Rs 69,613 |
| Existing HBL account holder | 14.50% | Rs 68,648 |
| Repeat HBL CarLoan customer | 13.50% | Rs 67,692 |
| Campaign rate advertised on HBL website | 11.99% | Rs 66,262 |
HBL’s product page currently advertises an 11.99% fixed rate campaign with 1.4% insurance and a free tracker. Campaign rates come with their own terms and dates, so ask the branch whether you qualify before you plan on it. The rates in HBL’s calculator (13.50% to 15.50%) are the standard ones.
Because the HBL car loan rate is fixed, your instalment stays the same for the whole loan even if KIBOR rises. Most other banks charge 1-year KIBOR plus a spread, which is reset every year. With 1-year KIBOR at 13.03% (SBP, 2 November 2026), their rates work out to about 16% to 18%.
HBL car loan instalment table (existing customer, 14.50%)
Monthly instalment for each loan amount and period. The loan amount is the car price minus your down payment.
| Loan amount | 1 year | 2 years | 3 years | 4 years* | 5 years* |
|---|---|---|---|---|---|
| Rs 10,00,000 | Rs 89,929 | Rs 48,155 | Rs 34,324 | Rs 27,478 | Rs 23,425 |
| Rs 15,00,000 | Rs 1,34,893 | Rs 72,233 | Rs 51,486 | Rs 41,217 | Rs 35,137 |
| Rs 20,00,000 | Rs 1,79,858 | Rs 96,311 | Rs 68,648 | Rs 54,956 | Rs 46,850 |
| Rs 25,00,000 | Rs 2,24,822 | Rs 1,20,388 | Rs 85,810 | Rs 68,695 | Rs 58,562 |
| Rs 30,00,000 | Rs 2,69,787 | Rs 1,44,466 | Rs 1,02,973 | Rs 82,434 | Rs 70,274 |
*4 and 5 years are allowed only for cars up to 1000cc. Cars above 1000cc can be financed for at most 3 years under SBP rules.
HBL car loan instalment table for new customers (15.50%)
| Loan amount | 1 year | 2 years | 3 years | 4 years* | 5 years* |
|---|---|---|---|---|---|
| Rs 10,00,000 | Rs 90,394 | Rs 48,623 | Rs 34,806 | Rs 27,977 | Rs 23,941 |
| Rs 15,00,000 | Rs 1,35,591 | Rs 72,935 | Rs 52,210 | Rs 41,965 | Rs 35,912 |
| Rs 20,00,000 | Rs 1,80,788 | Rs 97,247 | Rs 69,613 | Rs 55,954 | Rs 47,882 |
| Rs 25,00,000 | Rs 2,25,985 | Rs 1,21,559 | Rs 87,016 | Rs 69,942 | Rs 59,853 |
| Rs 30,00,000 | Rs 2,71,182 | Rs 1,45,870 | Rs 1,04,419 | Rs 83,930 | Rs 71,824 |
The difference between the two rates is small each month but adds up. On Rs 25 lakh over 3 years, a new customer pays Rs 43,416 more in total markup than an existing customer. Opening an HBL account before you apply can be worth it, but ask the bank how long the account must be active.
Worked example: Rs 45 lakh car on an HBL car loan
You buy a Rs 45,00,000 car (above 1000cc) and pay 40% down. You are an existing HBL customer.
- Down payment: Rs 18,00,000
- HBL car loan amount: Rs 27,00,000
- Rate: 14.50% fixed, 3 years
- Monthly instalment: Rs 92,675
- Total markup over 3 years: Rs 6,36,300
- First-year insurance at 1.4%: Rs 63,000
- Processing fee: Rs 13,000 (including FED)
- Cash needed on day one: Rs 18,76,000
HBL’s own calculator gives the same Rs 92,675 for this case. If you paid only 30% down, the loan would be Rs 31.5 lakh, which is above the Rs 30 lakh SBP limit, so the down payment would have to be at least Rs 15 lakh.
HBL car loan eligibility
- Pakistani national with a valid CNIC
- Minimum income: Rs 35,000 a month
- Age: 22 to 60 years for salaried people; self-employed people and pensioners up to 70 years at the end of the loan
- Locally made new or used cars only (no imported cars)
- Down payment at least 30%; HBL finances up to 70% of the car price, from Rs 2 lakh up to Rs 30 lakh
Your total loan payments, including the new car instalment, should stay within 40% of your monthly income. On a Rs 2,50,000 salary that means about Rs 1,00,000 a month for all loans together.
HBL car loan charges and fees
| Charge | Amount |
|---|---|
| Processing fee | Rs 13,000 including FED (Rs 6,500 for repeat customers) |
| Insurance | Paid upfront for year 1; advertised at 1.4% of the car price |
| Tracker | Free with the current offer |
| Early settlement | 10% before delivery, 5% after delivery |
| Late payment | Rs 1,500 + FED per instalment |
Source: HBL CarLoan Key Fact Statement and Schedule of Charges, July to December 2026.
HBL car loan vs other banks
For a Rs 20 lakh loan over 3 years, here is how the HBL car loan compares with variable-rate banks at today’s KIBOR of 13.03%.
| Bank | Rate today | Instalment |
|---|---|---|
| HBL (existing customer) | 14.50% fixed | Rs 68,648 |
| Bank AL Habib (6+ month customer) | 16.53% | Rs 70,839 |
| MCB Car4U (account holder) | 17.03% | Rs 71,335 |
| Bank Alfalah | 17.03% | Rs 71,335 |
| UBL Drive (existing customer) | 17.28% | Rs 71,584 |
HBL is cheaper today and has no KIBOR risk. Variable rates will only come close if KIBOR falls by about 2 percentage points or more. See our full car loan interest rates comparison.
How to apply for an HBL car loan
- Use the calculator to fix your car, down payment and period.
- Collect documents: CNIC copy, 2 photos, latest salary slip (or business proof), 6 months’ bank statement.
- Apply at any HBL branch or through the Apply Now form on HBL’s website.
- After approval, pay the down payment, insurance and processing fee. HBL pays the dealer.
- Your instalments start the month after delivery.
Related guides: Read our guides on car insurance in Pakistan and conventional banks.
Frequently asked questions
What is the HBL car loan interest rate in 2026?
HBL charges a fixed 15.50% for new customers, 14.50% for existing account holders and 13.50% for repeat car loan customers. HBL also advertises an 11.99% campaign rate.
What is the monthly instalment on a Rs 20 lakh HBL car loan?
Rs 68,648 a month over 3 years for an existing customer at 14.50%, or Rs 46,850 over 5 years (only for cars up to 1000cc).
Is the HBL car loan rate fixed or variable?
Fixed. The rate set on your loan does not change with KIBOR, so the instalment stays the same for the whole loan.
What is the maximum HBL car loan amount?
Rs 30 lakh, the SBP limit for all car financing per person. HBL finances up to 70% of the car price.
Can I get an HBL car loan for 5 years?
Only for cars up to 1000cc. For cars above 1000cc the maximum is 3 years under SBP rules.
Related guides
- Car loan calculator Pakistan (all banks)
- Car loan interest rates in Pakistan 2026
- MCB car loan (Car4U) 2026
- UBL car loan (UBL Drive) 2026
- Car Ijarah vs car loan
- Meezan car loan calculator