The Apni Car Scheme by the Government of Pakistan allows overseas Pakistanis to purchase new, used, or imported cars through the Roshan Digital Account (RDA). The scheme offers flexible options and financing plans tailored to individuals’ financial situations.
Eligibility Criteria
To be eligible for the Apni Car scheme, applicants must fulfill several requirements:
Identity Proof and Documents
- CNIC, SNIC, NICOP, POC, Passport, Visa, Residency Card/Work Permit
- Recent photographs of both the applicant and co-applicant
- Two references with CNIC copies
- Credit report from the country of residence (if applicable)
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Income Documents
| Income Type | Minimum Experience |
|---|---|
| Regular Salaried Individuals | 2 years with the current employer |
| Contractual Salaried Individuals | 3 years |
| Self-Employed Professionals/Business | 3 years in the same profession |
Income Requirements
- Gulf Countries: Monthly income of at least AED 10,000
- Non-Gulf Countries: Monthly income equivalent to USD 3,000
Down Payment
- The down payment varies from 15% to 45%, depending on the vehicle type.
Additional Criteria
- Residency: Must hold a permanent residency for non-Gulf countries or a resident card for Gulf countries.
- Credit History: A clear credit history is mandatory.
- Vehicle Registration: The vehicle must be registered under the borrower or co-borrower’s name.
- Payments are made through the Roshan Digital PKR Account.
Product Pricing and Interest Rates
| Rate Type | Lien-Based | Non-Lien-Based |
|---|---|---|
| Variable Rates | SBP Floor + 1.0% | 1-Year KIBOR + 1.0% |
| Fixed Rates | COD Rate + 1.0% | PKRV + 1.5% |
Insurance Options
Insurance providers offer different coverage plans with or without trackers:
| Provider | Without Tracker | With Tracker | Coverage |
|---|---|---|---|
| EFU | 1.40% | 1.99% | Accidental deaths up to PKR 2.5 million |
| Jubilee | 1.75% | 1.99% | Accidental deaths up to PKR 2.5 million |
| UBL | 1.40% | 1.89% | Accidental death up to PKR 2.5 million |
Vehicle Delivery Times
| Manufacturer | Variants | Delivery Time |
|---|---|---|
| Honda Atlas | City, Civic, BRV | 2 to 4 months |
| Kia | Sportage, Picanto, Carnival | 2 to 4 months |
| Indus Motors | Yaris, Corolla, Fortuner | 2 to 7 months |
| Pak Suzuki | Alto, Cultus, Wagon-R, Swift | 2 to 4 months |
Required Co-Applicant
Non-resident RDA holders must have a resident Pakistani co-applicant for legal documentation and vehicle registration.
Conclusion
The Roshan Apni Car Scheme provides a comprehensive financing solution for overseas Pakistanis. With flexible loan options, competitive interest rates, and a variety of insurance providers, it’s a convenient way to purchase a car. Ensure all documentation is in place for a smooth application process.