State Bank has set terms on consumer loans, under which consumer loan capacity reduced

 Karachi: State Bank has set terms on consumer loans, under which consumer loan capacity reduced to percent while car loan is percent down.

According to the details, the State Bank has set conditions on consumer loans by announcing measures to reduce imports and stability in the value of Rs.

In this context, regulations have been strictly made in the country for more than CC engine capacities / assembled vehicle loans, and other facilities for SARFI loans, such as personal loans and credit cards.

Changes made, the maximum term of vehicle loans has been reduced to five years from seven years, the maximum duration of personal loan is reduced to five years to three years. ۔

The maximum ratio of debt-burden ratio permitted to the borrower has been reduced to percent, for one individual from all banks / developmental financial institutions. The overall limit of vehicle loan will never be more than thirty lakh rupees.

Minimum down payment for car loan has been increased from percent to percent while to secure the procurement of the class from low income to middle income, one thousand cc engine capsity These new regulations will not apply to vehicles built / assembled in the country.

Similarly, these will not apply to domestic electric vehicles to promote clean energy use. Loan regulations for these two categories of vehicles will remain as per the past.

The regulatory guidelines of banks or development financial institutions on their car products have not been changed to encourage enlightened digital accounts and to facilitate overseas Pakistanis who open these accounts.

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