HBL Car Loan 2023 – Everything You Need to Know

Here we are going to discuss the HBL car loan. Some people want to buy the car of their dreams but do not have the budget to buy cars, so here, HBL has created ease for such people so they can easily purchase the cars of their choice. Certain things need to be followed to obtain this loan from the bank. So let’s see all the requirements required by the HBL bank from people willing to apply for these loans. Below are some of the steps that need to be followed:

Things Required For HBL Car Loan:

There is a specific eligibility criterion for job holders and people with businesses. So let’s discuss these further.

Employment Status of the Applicant:

The first requirement by the bank is that the person applying for this loan should be employed at a well known organization and have a valid salary slip so that the bank can see it. This step is made to be safe from fraud as many people present fake salary slips and later on do not pay the bank and causing problems for the management of banks.

Guarantee Should be provided:

The guarantee should be provided by a relative or friend. It could be done through stamp paper at the time of applying for this loan. So that the assurity is made of returning the loan on time, and it is also making sure that the person whom the bank is giving the loan is reputable as well as trustable.

CNIC Should be provided:

Whenever applying for a car loan or any other loan, remember to keep your CNIC as well as the CNIC of the guarantee-giving person with you so that copies can be provided to the bank management for verification purposes and the time is saved. Make sure the CNIC of the loan seeker, as well as the person coming with you to provide a guarantee, is valid means is not expired; otherwise, your loan will be rejected on the spot.

Passport-sized Photos:

Get yourself passport-size photos clicked from your mobile phone or a nearby photo studio. Now carry them with you before leaving your home. These photos are to be attached to the loan application forms. Furthermore, these pictures are matched with the CNIC as well as other documents for verification purposes.

Proof of Business:

As we have discussed above that, for a job doing a person’s salary slip is mandatory. Just like this, people doing business and willing to apply for car loans need to show proof of business. This may include the profits, company name, and company registration status. Now you might think that why banks need this, it is because they want to see that you are really running a business or pretending someone’s business to be yours just to take some loan.

Bank Statement:

Now here comes the bank statement, which is mandatory. For this, you can do two things if you are an HBL bank customer; they can see your bank statement in their system immediately and can tell you whether you are eligible for this loan or not. But if you are some other bank user, they may demand a bank statement from you.

Age limit:

The bank has set some age limits on this loan, which only allows people of certain age groups to apply for these loans. There are several reasons behind this age limit criteria. Here the age limit for this loan starts from 22 years minimum and goes to 60 years maximum. People below this age and above this age cannot apply for this loan as they are ineligible.

Monthly Income For HBL Car Loan 2023:

The monthly income limit is also set by the bank to PKR 25,000. This means that people below this income cannot even think about applying for this loan. People with less income won’t be able to pay it off later, or it would take a lot of time to pay it off, which would not be beneficial for the bank as well as the people below this earning limit.


The most important thing here is that the person applying for this loan should be a Pakistani means no other national residing in Pakistan cannot apply for this loan as he or she is ineligible for this, and it is basically only for Pakistani Nationals.

Eligible Cars For HBL Car Loan:

The person applying for a loan can use any local car according to the loan amount that fits his budget. Whether you want to go for a Suzuki, Toyota, or a car of Honda. HBL will surely give you a loan. But remember the thing here, imported cars are exempted from this policy.

Eligible Cars

Pros and Cons of this Loan:

Now here, let’s discuss the pros and cons of this loan. First, let’s see the benefits of this loan. That includes any type of car that you want to be financed means you will be able to get your desired car in the shortest time as HBL provides the shortest processing time for all their loans so that more and more people can benefit from them. But if you’re unable to return the loan at the mentioned time as agreed in the terms and conditions when you applied, you may have to return the car. The bank officials will give the customer certain warnings at first, but still, if the person fails to provide the loan amount, they may take the car for auction. So be aware of the pros and cons of this policy before you make any decision regarding this loan.

Pros and Cons of this Loan


This was all about the HBL car loan. You might also be interested in getting a car loan, then HBL is the best option for you. The reason you should go for HBL is their low-interest policies. If you owe to get a loan through this bank, you should calculate the amount you will get using the HBL loan calculator. This will create an ease for you to select the type of car prior to taking the loan.

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