Auto Financing

Bank of Punjab Car Loan Calculator — CARGAR Rates & Eligibility

Work out your CARGAR EMI instantly, plus what an early exit or late payment actually costs — using BOP's real Schedule of Bank Charges and current KIBOR.

KIBOR + 500-600 bps
Up to Rs 3M
Verified Sep 1, 2026

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

BOP car loan calculator searches are usually about one thing: figuring out the monthly instalment on CARGAR, BOP's auto leasing product. Use the calculator below to get your exact EMI, then check what an early exit or a late payment would cost — both worked out from BOP's own published rate terms and Schedule of Bank Charges.

CARGAR is a conventional, KIBOR-linked leasing facility, not a Sharia-compliant Ijarah structure. BOP car financing covers both new and used, locally assembled or imported vehicles, with financing available up to Rs 3 million and repayment spread across up to 5 years (12 to 60 months).

Bank of Punjab Car Loan Calculator

Most CARGAR calculators stop at your monthly instalment. This one also shows what a late payment and an early exit actually cost — using BOP's real Schedule of Bank Charges (Jul–Dec 2026), not a guess.

Loan Details

Car Price (Rs.)

Please enter a valid car price.

Vehicle Type

Minimum down payment is 20% for local vehicles, 30% for imported — per BOP's CARGAR terms.

Down Payment

Down payment is below BOP's minimum for this vehicle type.

Applicant Type

Sets your markup spread over KIBOR — 500 bps for salaried/existing BOP customers, 600 bps for SEB/SEP.

Tenure (years)

BOP publishes markup spreads for 1, 2, and 3-year tenures. CARGAR extends up to 5 years, but the spread for 4–5 year tenure isn't separately published — confirm that figure at your branch if you need a longer term.

Annual Markup Rate (% p.a.)

Defaults to 1-year KIBOR (12.16% offer, SBP, 19 Aug 2026) + 500 bps for a salaried/existing customer. This changes automatically with your applicant type — KIBOR itself moves periodically, so confirm the live rate before applying.

Processing Fee Applies To

BOP's processing fee is Rs 9,000 for men and Rs 7,000 for women, per case.

Showing a Rs. 3,500,000 local vehicle as an example — edit the fields above and it updates instantly.

Total Cost — Not Just the Monthly Number

Total Cost of Ownership (full tenure)

—

Monthly Instalment—

Down Payment—

Amount Financed—

Total Markup Paid (over tenure)—

BOP Processing Fee (one-time, SOBC-verified)—

⚡ What Does Leaving Early Actually Cost?

Unlike some banks, BOP charges a single flat rate here — 5% of your outstanding principal, whether you settle in month 3 or month 30. No before/after-delivery split. Here's what that 5% looks like in rupees at your numbers.

Settling after how many months?

Outstanding Balance at that point—

Early Termination Charge (5%)—

Total to Close the Loan

—

This reflects BOP's early termination/pre-payment charge of 5% on the outstanding principal at the time of settlement, per the SOBC. A balloon or partial payment carries the same 5% rate, applied to the amount being adjusted.

🕐 What One Late Payment Costs

BOP's late payment penalty is Re 1 per Rs 1,000 of your instalment, per day overdue — it compounds daily, not monthly. Most calculators don't show this. Here's what a few missed days actually add up to.

Days Overdue

Your Monthly Instalment—

Late Payment Penalty

—

Calculated as Re 1 per Rs 1,000 of your instalment, per day overdue — per BOP's Schedule of Bank Charges.

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

Fee Data & Sources

Processing fee, early termination/pre-payment, balloon/partial payment, and late payment charges are taken directly from Bank of Punjab's official Schedule of Bank Charges (SOBC), effective July 1 – December 31, 2026, published on bop.com.pk.

The markup rate is not a fixed published number — it's KIBOR plus a spread that BOP publishes (500 bps for salaried/existing customers, 600 bps for SEB/SEP, across 1–3 year tenures). The default above uses SBP's 1-year KIBOR offer rate as of 19 August 2026 (sbp.org.pk). KIBOR resets periodically — always confirm the live rate on your Key Fact Statement before applying.

Last verified: August 21, 2026. Bank charges, KIBOR, and rates change — always confirm with BOP directly before making a financial decision.

Independent estimate — not an official BOP calculator. PakFinHub is not affiliated with Bank of Punjab.

CARGAR Markup Structure

Tenure	Salaried / Existing BOP Customer	SEB / SEP
1 Year	KIBOR + 500 bps	KIBOR + 600 bps
2 Years	KIBOR + 500 bps	KIBOR + 600 bps
3 Years	KIBOR + 500 bps	KIBOR + 600 bps

Markup structure confirmed from BOP's published car financing rate terms. KIBOR of the respective tenure (1, 2, or 3 years) is used as the base rate; SEB/SEP refers to self-employed businessperson/professional applicants.

Down Payment & Financing Limits

Local Vehicle Down Payment: 20%
Imported Vehicle Down Payment: 30%
Max Financing: Rs 3 million
Repayment Term: Up to 5 years

Before using any BOP car loan calculator online, confirm whether you qualify as an existing BOP customer or a new-to-bank applicant, since the markup spread differs between the two categories. Eligibility and rate structure are identical whether you apply through a branch in Lahore, Karachi, Islamabad, or Multan — CARGAR isn't a province-specific product despite BOP's Punjab roots.

Documents Required

CNIC

Valid original CNIC for the applicant and, where applicable, guarantor.

Salary Slips

Last two months' salary slip or salary certificate showing gross and net pay with deductions, for salaried applicants.

Business Proof

Business ownership documents or bank statements for self-employed applicants.

CARGAR vs Other Auto Financing

Because CARGAR is a conventional, KIBOR-linked facility rather than a Sharia-compliant lease, applicants who specifically want an Islamic auto financing structure should ask about equivalent products offered through BOP's Taqwa Islamic Banking division instead, since the markup mechanics and contract structure differ meaningfully between the two. Whichever structure you choose, get the final markup rate, processing fee, and insurance cost confirmed in writing from your branch before signing, since KIBOR itself moves periodically and the number quoted informally can shift by the time your application is processed.

CARGAR Fees (SOBC, Effective 01 Jul – 31 Dec 2026)

Charge	Amount
Processing fee — men	Rs 9,000 per case
Processing fee — women	Rs 7,000 per case
Processing fee — motorcycles (men & women, excl. FED)	Rs 3,750 per case
Early termination / pre-payment	5% of outstanding principal
Balloon / partial payment	5% of principal adjusted
Late payment penalty	Re 1 per Rs 1,000 per day of instalment, from due date

Figures sourced from BOP's official Schedule of Bank Charges (SOBC), effective 01 July 2026 to 31 December 2026, published on bop.com.pk. These sit alongside the KIBOR-linked markup rates above — confirm both before signing.

Frequently Asked Questions

What is BOP's car financing product called?

BOP's auto leasing product is called CARGAR. It finances new and used vehicles with markup priced off KIBOR plus a spread that varies by tenure and customer type.

How much down payment does BOP car financing require?

BOP car financing requires a minimum 20% down payment for locally assembled vehicles and 30% for imported vehicles, with financing available up to Rs 3 million and repayment terms up to 5 years.

Is CARGAR Sharia-compliant?

No. CARGAR is a conventional, KIBOR-linked leasing facility. Applicants wanting an Islamic auto financing structure should ask about the equivalent product through BOP's Taqwa Islamic Banking division.

Can self-employed applicants get BOP car financing?

Yes. Self-employed businesspersons and professionals (SEB/SEP) are eligible, though their markup spread runs slightly higher (KIBOR + 600 bps) than salaried or existing BOP customers (KIBOR + 500 bps).

What is the maximum tenure for BOP car financing?

Up to 5 years (60 months), with repayment terms available from as short as 12 months depending on the applicant's preference and eligibility.

Does BOP finance imported vehicles?

Yes, both new and used, locally assembled or imported vehicles are eligible, though imported vehicles carry a higher minimum down payment (30% vs 20% for local vehicles).

Can I settle my BOP car loan early?

Yes. BOP charges a flat early termination/pre-payment fee of 5% on your outstanding principal at the time of settlement, regardless of how far into the loan you are.

What happens if I miss a BOP car loan instalment?

BOP charges a late payment penalty of Re 1 per Rs 1,000 of your instalment amount, for each day the payment is overdue, per the Schedule of Bank Charges.

Good For

Calculating your exact CARGAR monthly instalment and total cost
Seeing what an early exit or late payment would actually cost
Comparing down payment requirements for local vs imported cars
Checking eligibility as a salaried vs self-employed applicant

Ready to apply for BOP car financing?

Confirm current KIBOR-linked rates directly with BOP before signing anything.

Visit BOP Official Website See Home Financing (Apna Ghar)