ALFALAH

When you need extra funds for a wedding, medical emergency, home repair, or even a vacation, two common options come to mind: a personal loan or a credit card. While both provide access to money, they work very differently, and choosing the wrong one could cost you more in the long run. Understanding the key differences can help you align your borrowing with your financial goals. What Is a Personal Loan? A personal loan is a fixed amount of money borrowed from a bank or financial institution, repaid in equal monthly installments (EMIs) over a set period, typically 1 to 5 years. It’s usually unsecured (no collateral needed) and comes with a fixed markup rate. Best for : Large, planned expenses like weddings, education, or debt consolidation. What Is a Credit Card? A credit card offers a revolving line of credit up to a pre-approved limit. You can spend as much as you want (up to the limit), repay in full each month, or carry a balance though interest charges apply if you don’t pay in ...

Buying a car is a major milestone, and for most people in Pakistan, car finance makes ownership possible without draining savings. However, getting approved isn’t always automatic. Lenders assess your financial reliability before approving a loan. Understanding the eligibility criteria and preparing in advance can significantly boost your chances of success. Who Qualifies for Car Finance? While requirements may vary slightly, most lenders in Pakistan look for these key factors: 1. Stable Income Source You must have a regular, verifiable income, whether you’re salaried, self-employed, or a business owner. Salaried individuals typically need: Last 3–6 months’ payslips Employment verification letter Bank statements showing consistent salary credits Self-employed applicants usually provide: Business registration documents (e.g., NTN, SECP registration) Last 6–12 months of bank statements Proof of business activity (invoices, tax returns) 2. Minimum Age and Legal Status Applicants must be ...

Buying a car is a major milestone for many Pakistanis, whether it’s your first vehicle, a family upgrade, or a business necessity. But with rising prices, paying in full isn’t always feasible. That’s where financing comes in. Opting for a car on installment from a bank allows you to drive home your dream vehicle today while paying for it over time in manageable monthly amounts. If you’re new to auto financing, here’s a clear, step-by-step guide to help you navigate the process with confidence. Step 1: Assess Your Budget and Needs Before you start browsing cars or visiting dealerships, determine what you can realistically afford. Consider: Your monthly income and fixed expenses How much you can put down as a down payment (typically 20–30% of the car’s price) The maximum monthly installment you can comfortably pay A good rule of thumb: your car installment should not exceed 20–25% of your take-home pay. Also, decide whether you want a new or used car, as financing terms may differ. Step ...

When it comes to securing financial support for life’s big moments, whether it’s buying a home, launching a business, funding education, or managing unexpected expenses,s choosing the right lending partner is crucial. In Pakistan’s evolving financial landscape, one name consistently rises above the rest: Bank Alfalah. Widely regarded as the best loan company in the country, Bank Alfalah has earned this reputation not through marketing alone, but through decades of trust, innovation, customer-centric services, and responsible lending practices. A Legacy Built on Trust and Stability Established in 1997, Bank Alfalah has grown into one of Pakistan’s most respected financial institutions, with a presence in over 700+ branches nationwide and a robust digital infrastructure. As part of the esteemed Arif Habib Group and backed by international partnerships, the bank combines local insight with global standards. This strong foundation ensures that when you apply for a loan, you’re not just dea...