Meezan Bank Car Ijarah Financing Guide
Car Ijarah is Meezan Bank's Shariah-compliant car financing product — not a rebranded loan, but a lease: the bank buys the car and rents it to you, and you don't own it until the lease ends. That ownership structure is what makes it interest-free under Islamic finance rules.
"Car Ijarah" is one of the most searched Meezan Bank terms, and also one of the most misunderstood — people often assume it's just a rebranded car loan. It isn't. Ijarah is a lease structure: the bank buys the car outright and rents it to you, and you never technically own the vehicle until the lease ends. That structural difference is what makes it Shariah-compliant.
This matters practically too, not just religiously: because the bank owns the asset during the lease, some risks and costs (like the vehicle purchase's withholding tax, in the Roshan Apni Car variant) sit with the bank rather than you. Below is how the standard product works, plus the version built specifically for overseas Pakistanis.
How Car Ijarah Works
Car Ijarah
Pakistan's first interest-free car financing. The bank buys the car and leases it to you for an agreed term; ownership transfers to you at the end for a nominal price. Covers locally assembled/manufactured vehicles.
Meezan Roshan Apni Car
Car Ijarah specifically for Roshan Digital Account holders (overseas Pakistanis) — no processing charges, no upfront Takaful payment, withholding tax on the vehicle purchase borne by the bank, and rental payments only start one month after vehicle delivery.
Core Car Ijarah mechanics verified from Meezan Bank's official product pages (meezanbank.com). Roshan Apni Car details are from Meezan's official promotional materials.
Ijarah vs. a Conventional Car Loan
| Feature | Car Ijarah (Meezan) | Conventional Loan |
|---|---|---|
| Who owns the car during the term | The bank (you lease it) | You (bank holds a lien) |
| What you pay | Rental payments | Principal + interest |
| Structure basis | Ijarah (leasing) | Interest-bearing loan |
| Ownership transfer | At end of term, nominal price | Automatic as loan is repaid |
Structural comparison based on standard Ijarah mechanics as described on Meezan's official product page; not an endorsement of either structure over the other.
Electric Two-Wheeler Financing
Meezan Apni Bike
Electric bike financing at 0% profit rate for up to 12 months, with a discounted rate on 2- and 3-year tenures. Instant approval for existing Meezan customers.
Vlektra Electric Motorcycle Financing
Partnership with Vlektra: 0% financing over invoice value for up to 12 months, affordable monthly installments, motors ranging 1500–2000 watts.
Sourced from Meezan Bank's official promotional materials. Terms and conditions apply — visit your nearest branch for details.
Car Ijarah — Processing Fees & Charges
| Charge | Amount |
|---|---|
| Upfront processing fee — domestic vehicle | Rs. 3,800/case (free for Women First segment) |
| Upfront processing fee — commercial new vehicle (below Rs. 2.0 million) | Rs. 2,500/case |
| Upfront processing fee — Fleet Ijarah | Rs. 10,000/case, irrespective of number of cars |
| Upfront processing fee — Commercial Vehicle Ijarah | Rs. 4,300/case, irrespective of number of vehicles |
| Documentation charges | At actual |
| Old vehicle valuation | At actual |
| Out-station verification | Rs. 500–1,000, depending on distance |
| Vehicle transfer in favor of 3rd party | Rs. 1,500/case |
As disclosed in Meezan Bank's official Schedule of Service Charges, effective 1 July to 31 December 2026. Premium Banking customers get preferential pricing, a processing-fee waiver, and a 100% waiver on early-termination profit — see our Rates & Accounts page.
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