On the Kia Picanto installment plan Meezan Bank offers through Car Ijarah, the Kia Picanto MT (Rs 36,00,000) costs about Rs 68,386 a month with the minimum 30% deposit over 5 years, including takaful and tracker. You pay Rs 10,80,000 deposit upfront and need a take-home salary of about Rs 1,36,800. Over 3 years the same car costs about Rs 96,053 a month.
Last updated: 11 November 2026 by Ahmed. Prices and rates checked on Meezan Bank’s website on 11 November 2026.
Try your own deposit and tenure in our free Meezan Bank Car Loan Calculator. It uses Meezan’s formula and price list.
Want a Kia Picanto on installment from Meezan Bank in 2026? The Picanto has a 999cc engine, so it is one of the few cars Meezan leases for up to 5 years, and at Rs 36 lakh it stays under the SBP’s Rs 30 lakh financing limit with the normal 30% deposit. Meezan’s resident profit rate is now 15.75% on every tenure. The tables below show the monthly rent for every deposit and tenure, the total cost and the salary you need.
Kia Picanto installment plan Meezan Bank: Every Deposit and Tenure
Car price Rs 36,00,000 (Picanto MT, 999cc). Monthly rent including takaful and tracker, at Meezan’s 15.75% profit rate. The lowest deposit allowed is 30%.
| Deposit | 1 year | 2 years | 3 years | 4 years | 5 years |
|---|---|---|---|---|---|
| 30% (Rs 10,80,000) | Rs 2,36,537 | Rs 1,31,054 | Rs 96,053 | Rs 78,688 | Rs 68,386 |
| 40% (Rs 14,40,000) | Rs 2,03,916 | Rs 1,13,470 | Rs 83,441 | Rs 68,532 | Rs 59,679 |
| 50% (Rs 18,00,000) | Rs 1,71,296 | Rs 95,886 | Rs 70,829 | Rs 58,375 | Rs 50,972 |
| 60% (Rs 21,60,000) | Rs 1,38,675 | Rs 78,303 | Rs 58,217 | Rs 48,219 | Rs 42,265 |
| 70% (Rs 25,20,000) | Rs 1,06,055 | Rs 60,719 | Rs 45,605 | Rs 38,062 | Rs 33,559 |
Each extra 10% deposit lowers the 5-year rent by about Rs 8,700 a month.
Kia Picanto Installment Plan Meezan Bank: Variant and Minimum Deposit
Meezan’s price list currently has one Picanto variant, the Picanto MT. Because 70% of its price (Rs 25,20,000) is below Rs 30 lakh, the minimum deposit is the standard 30% on every tenure:
| Variant | Price | Minimum deposit | 3 years | 5 years |
|---|---|---|---|---|
| Kia Picanto MT (999cc) | Rs 36,00,000 | 30% (Rs 10,80,000) | Rs 96,053 | Rs 68,386 |
If you want the automatic Picanto, ask your Meezan branch whether it can be booked, as it is not on Meezan’s online list right now.
What Makes Up the Picanto Installment
For the Kia Picanto MT with a 30% deposit over 5 years:
| Part | Monthly |
|---|---|
| Rent for the car (15.75% profit) | Rs 60,947 |
| Takaful (Islamic insurance) | Rs 4,138 |
| Tracker | Rs 3,300 |
| Total | Rs 68,386 |
Tracker is Rs 3,300 a month because the car costs Rs 40 lakh or less. Takaful here follows Meezan’s calculator (about 1.5% of the price in year one, falling 10% a year). Meezan’s Car Ijarah page lists takaful at 1.99% with EFU or Adamjee, so your actual figure can be slightly higher.
Total Cost of a Kia Picanto on Meezan Car Ijarah
| Plan | Upfront | Total paid | Extra over cash price |
|---|---|---|---|
| 30% deposit, 5 years | Rs 10,84,408 | Rs 51,87,568 | Rs 15,87,568 |
| 30% deposit, 3 years | Rs 10,84,408 | Rs 45,42,316 | Rs 9,42,316 |
| 50% deposit, 3 years | Rs 18,04,408 | Rs 43,54,252 | Rs 7,54,252 |
| 50% deposit, 5 years | Rs 18,04,408 | Rs 48,62,728 | Rs 12,62,728 |
Totals include the deposit, all rentals and the processing fee (Rs 3,800 + FED, about Rs 4,408). The “extra” also covers takaful and tracker, which you would pay for in some form even if you bought the car in cash. A shorter lease saves the most: 3 years instead of 5 cuts the extra cost by about Rs 6,45,000.
Salary Needed for a Kia Picanto on Installment
For the Kia Picanto installment plan Meezan Bank needs your take-home pay to be at least twice the monthly rent (50% of your spouse’s income can be added), and all loan installments together within 40% of take-home pay.
| Plan | Monthly rent | Take-home needed |
|---|---|---|
| 30%, 5 years | Rs 68,386 | About Rs 1,36,800 |
| 30%, 3 years | Rs 96,053 | About Rs 1,92,100 |
| 40%, 5 years | Rs 59,679 | About Rs 1,19,400 |
| 50%, 5 years | Rs 50,972 | About Rs 1,01,900 |
| 50%, 3 years | Rs 70,829 | About Rs 1,41,700 |
For business owners, Meezan allows all installments up to 50% of take-home income (instead of 40%) on cars of 1000cc or less, which includes the Picanto.
Kia Picanto on Residual Value Ijarah
With Residual Value Ijarah you pay a lump sum at the end (or return the car) and get a lower rent. Meezan allows a deposit of 30% to 50% on this plan, and deposit plus residual value must stay below 100%.
| Deposit | Tenure | Residual value | Monthly rent |
|---|---|---|---|
| 30% deposit | 3 years | 50% (Rs 18,00,000) | Rs 56,618 |
| 30% deposit | 4 years | 50% (Rs 18,00,000) | Rs 51,531 |
| 30% deposit | 5 years | 40% (Rs 14,40,000) | Rs 52,459 |
| 40% deposit | 3 years | 50% (Rs 18,00,000) | Rs 44,006 |
| 50% deposit | 5 years | 40% (Rs 14,40,000) | Rs 35,045 |
These residual-value rents are calculated with Meezan’s formula and match its online calculator. Confirm the exact figure with your branch.
Kia Picanto Installment for Overseas Pakistanis
Through a Roshan Digital Account, Kia cars qualify. You can lease a Kia Picanto for up to 7 years from a 15% deposit (salaried; 25% for business owners) at fixed rates of 14.18% to 14.34%, and the Rs 30 lakh limit does not apply (up to Rs 1 crore):
| Deposit | 3 years | 5 years | 7 years |
|---|---|---|---|
| 15% (salaried minimum), Rs 5,40,000 | Rs 1,12,578 | Rs 79,089 | Rs 65,055 |
| 25% (business minimum), Rs 9,00,000 | Rs 1,00,243 | Rs 70,655 | Rs 58,241 |
| 30%, Rs 10,80,000 | Rs 94,075 | Rs 66,438 | Rs 54,834 |
There is no processing fee for Roshan Digital customers, Residual Value Ijarah is not offered, and the car is delivered to a close relative in Pakistan. Details: Meezan Car Ijarah for overseas Pakistanis.
How to Get the Kia Picanto Installment Plan Meezan Bank Offers
- Check your figure in the calculator and make sure your take-home pay is at least twice the rent.
- Visit a Meezan branch with your CNIC, latest pay slip or business proof, and 6 months’ bank statements.
- Pay the security deposit and processing fee (about Rs 4,408) once approved (Meezan says 1 to 7 working days).
- Meezan books the car with Kia Lucky Motors. Your rent starts after delivery.
Need help choosing? The Invest Pakistan’s car financing consultation can compare plans for you.
Compare other banks on our car loan banks in Pakistan page, and check the registration tax for this car with our car registration tax calculator.
FAQ
What is the Kia Picanto installment plan Meezan Bank offers for 5 years?
About Rs 68,386 a month for the Picanto MT with the minimum 30% deposit (Rs 10,80,000), including takaful and tracker. With a 50% deposit it falls to about Rs 50,972.
What is the minimum down payment for a Kia Picanto on Meezan Bank?
30% of the price, which is Rs 10,80,000 for the Picanto MT. Add a processing fee of about Rs 4,408. Overseas Pakistanis with a Roshan Digital Account can start from 15% (salaried).
Can I get a Kia Picanto for 5 years on Meezan Bank?
Yes. The Picanto has a 999cc engine, and Meezan allows up to 5 years for cars of 1000cc or less. Bigger cars are limited to 3 years. Overseas Pakistanis can go up to 7 years.
How much salary do I need for a Kia Picanto on Meezan Bank?
Your take-home pay should be at least twice the rent: about Rs 1,36,800 for a 30% deposit over 5 years, or about Rs 1,01,900 with a 50% deposit.
Is the Kia Picanto installment fixed?
Yes. Car Ijarah uses a fixed profit rate (15.75% for residents now), so your rent stays the same for the whole lease unless takaful changes at renewal.
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Sources
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