Provincial Government Bank

Bank of Khyber Car Loan Calculator (BOK Foree Car)

Part of PakFinHub's BOK coverage — see the full bank overview.

New & Used Vehicles
Free EMI Calculator

Written & reviewed by Dildar Hussain — 10+ years in Pakistani banking, BS Banking & Finance (NUML University)

Important — conventional mode discontinued: BOK's own BOK Foree Car page states that consumer loans under the conventional mode have been discontinued, as the bank transitions into a fully-fledged Islamic bank. Foree Car is now accessed through BOK's Islamic banking arm as one of two distinct products — Raast Car Ijarah (leasing, with ownership building through rental payments) or Raast Car Diminishing Musharakah (co-ownership with gradual buyout) — not as a conventional interest-based loan. Confirm which structure applies and the current contract terms with a BOK Islamic branch before applying — the calculator below is a planning estimate based on BOK's published fee schedule, not a guarantee of conventional terms. See how these Islamic contract structures work on our Raast Islamic Banking guide.

BOK Foree Car is Bank of Khyber's auto financing product for new and used vehicles. It's now issued exclusively in Islamic mode as Raast Car Ijarah or Raast Car Diminishing Musharakah under BOK's Raast Islamic banking arm. This page explains how the financing works, plus a Bank of Khyber car loan calculator to estimate your own monthly instalment before applying.

BOK Foree Car at a Glance

Product Name: BOK Foree Car (legacy) — now Raast Car Ijarah / Raast Car Diminishing Musharakah
Financing Type: New vehicles manufactured in Pakistan (used vehicles also financed; see below)
Max Bank Exposure: PKR 3.0 million, or per SBP regulations
Minimum Customer Contribution: 30% of vehicle value
Rate Type: Confirm current markup with BOK

Product name, maximum bank exposure, and minimum customer contribution confirmed directly from BOK's official BOK Foree Car product page (bok.com.pk). Exact markup rates should be confirmed directly with BOK, as they change with KIBOR and the bank's credit policy. Last verified: September 2026.

BOK Car Loan Calculator

Most car loan calculators stop at your monthly instalment. This one also shows what it actually costs to settle early — using BOK's real Schedule of Bank Charges, not a guess. BOK's early settlement fee works differently from what you might expect: it's a flat Rs 5,000 (plus FED), not a percentage of your outstanding balance, and it only applies if you settle within 2 years of disbursement.

Loan Details

Car Price (PKR)

Down Payment (PKR)

Tenure (Years)

Markup Rate (% p.a.)

Insurance Rate (% p.a.)

BOK doesn't publish a fixed maximum financing percentage or a fixed advertised markup rate — down payment and rate above are editable defaults for illustration. Confirm your actual quoted rate and down payment requirement on your Key Fact Statement.

True Total Cost — Not Just the Monthly Number

Total Cost of Ownership (full loan life)

—

Monthly Instalment—

Amount Financed—

Total Markup Paid (over tenure)—

Est. Annual Insurance—

BOK Processing Fee (one-time, SOC-verified)—

⚡ What Does Settling Early Actually Cost?

BOK's Schedule of Charges is unusual here: the early settlement fee is a flat Rs 5,000 (plus FED) — not a percentage of your outstanding balance like some other banks charge — and it only applies if you settle within 2 years of disbursement. After 2 years, BOK's SOC doesn't publish a separate settlement charge.

Settling after how many months?

Outstanding Balance at that point—

Early Settlement Charge—

Total to Close the Loan

—

No personal or financial account information is required. This tool runs entirely in your browser.

Processing fee and early settlement charge are taken directly from Bank of Khyber's Schedule of Bank Charges, Conventional Branches, effective July–December 2026. Markup rate and insurance rate are not published by BOK — they're set per applicant profile and market conditions; the defaults above are illustrative only. Late payment charges (Rs 1,500 + FED), repossession charges (actual, up to Rs 75,000), and dishonoured cheque charges (Rs 500 flat) are not included in this calculator but are listed in the fee table below. Last verified: August 2026. Independent estimate — not an official BOK calculator; confirm your exact terms on your Key Fact Statement before signing.

Eligibility & Documents

Requirement	Detail
Age (salaried)	21 to 60 years
Age (businessman/self-employed)	21 to 65 years
Minimum employment/business period	2 years (salaried) or 3 years (business/profession)
Max bank exposure	PKR 3,000,000 (financed amount, not vehicle price), or per SBP regulations
Minimum customer contribution	30% of vehicle value, arranged upfront at disbursement
Documents	CNIC, income proof (salary slip or bank statements), and vehicle quotation/invoice
Insurance & Registration	Compulsory life and vehicle insurance; joint registration of vehicle with BOK

Age limits, employment period, maximum bank exposure, and minimum customer contribution sourced directly from BOK's official BOK Foree Car product page (bok.com.pk). Last verified: September 2026.

New vs. Used Vehicle Financing

BOK Foree Car covers both new and used vehicles, though used-vehicle financing typically comes with a shorter maximum tenure and a higher required down payment than a new car, reflecting the faster depreciation and higher risk banks assign to older vehicles. If you're weighing new against used specifically to minimize your monthly instalment, run both scenarios through the calculator above — a lower purchase price on a used vehicle doesn't always translate to a proportionally lower instalment once the shorter tenure is factored in.

Fees & Charges (BOK Foree Car)

BOK's published Auto Finance charges, from its Schedule of Bank Charges, Conventional Branches, effective July–December 2026 — the costs beyond the monthly instalment.

Charge	Amount
Application processing fee	Rs 5,000 (minimum, non-refundable, individuals only)
Early settlement (full, within 2 years)	Rs 5,000 + FED
Partial payment (within 2 years)	Rs 5,000 + FED
Late payment (after 15th day from due date)	Rs 1,500 + FED
Repossession charges	Actual, up to Rs 75,000
Dishonoured instalment cheque	Rs 500 flat per presentation

Source: Bank of Khyber Schedule of Bank Charges, Conventional Branches, July–December 2026. FED (Federal Excise Duty) applies on top of these amounts where noted. Charges may change with BOK's next schedule update — confirm current rates before signing. Last verified: August 2026.

Frequently Asked Questions

What is BOK's car financing product called?

Bank of Khyber's auto financing product is branded BOK Foree Car, covering both new and used vehicle financing.

Is BOK Foree Car still available as a conventional loan?

No. BOK's own product page states conventional-mode consumer loans have been discontinued as the bank transitions to a fully-fledged Islamic bank. Foree Car is now accessed through BOK's Islamic banking arm — confirm the current contract structure with an Islamic branch before applying.

What are Raast Car Ijarah and Raast Car Diminishing Musharakah?

These are BOK's two current Islamic-mode car financing products, replacing conventional Foree Car for new applicants. Raast Car Ijarah is a lease with ownership building through rental payments; Raast Car Diminishing Musharakah is co-ownership with a gradual buyout. Ask your BOK Islamic branch which one applies to your application.

How much down payment does BOK Foree Car require?

BOK requires a minimum customer contribution of 30% of the vehicle value, arranged upfront at disbursement. Maximum bank exposure is PKR 3,000,000, or as per SBP regulations, whichever is lower.

Is the BOK Car Loan Calculator on this page accurate?

This BOK Car Loan Calculator gives an illustrative reducing-balance estimate for planning purposes only — it is not a loan offer. Your actual approved rate depends on your risk profile and the vehicle.

Does BOK Foree Car finance used vehicles?

Yes, BOK Foree Car covers both new and used vehicles, though used-vehicle financing typically carries a shorter maximum tenure and a higher required down payment.

How much does it cost to settle a BOK Foree Car loan early?

A flat Rs 5,000 plus FED if you settle within 2 years of disbursement, regardless of loan size. BOK's published Schedule of Charges doesn't specify a separate charge after 2 years.

Run a few scenarios through the calculator above — shorter tenure against lower instalment, new against used — before visiting a branch. It gives you a realistic budget range instead of finding out your actual affordability only after a formal application.

Budget for insurance separately from the loan instalment. Comprehensive coverage is typically mandatory for the financed vehicle for the duration of the facility, and the premium is usually paid annually on top of, not folded into, the monthly car payment.

Good For

Estimating your monthly car loan instalment before applying
Understanding BOK Foree Car eligibility and documentation
Comparing new vs. used vehicle financing terms
Planning your down payment ahead of a branch visit

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Verify current rates, offers, and terms directly with BOK before you apply.

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