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FIRST INTENATIONAL INVESTMENT BANK
First International Investment Bank Limited ("Interbank")
is one of the leading investment banks in Pakistan. It commenced
operations in 1990 and is listed on the Karachi and Lahore
Stock Exchanges. It has offices in Karachi, Lahore and Islamabad
The principal shareholders of Interbank are:
| • Packages Limited & Associates
|
32.5% |
| • American Express Bank Ltd. (AEB) |
20.0% |
| • International Finance Corporation (IFC |
14.9% |
| • National Investment Trust (NIT)
|
10.1% |
| • General Public |
22.5% |
Interbank offers a range of new investment banking products
and services for individuals as well as companies with the
aim of promoting investment and economic development in the
country.
Interbank has played a pioneering role in developing Pakistani
financial markets by advising and arranging the first public
floatation of corporate bonds, the first issue of corporate
commercial paper, and the first banker's acceptance program
in the country. Interbank was the first investment bank authorized
to engage in the business of leasing. International Finance
Corporation has granted long-term credit lines to Interbank
for on-lending to eligible borrowers.
PACRA, the Pakistan Credit Rating Agency (Private) Limited,
an affiliate of FITCH IBCA Inc., New York / London, has assigned
short-term rating of 'A1' and long-term rating of 'A' to Interbank.
These ratings are applicable to the unsecured creditors of
the bank.
Interbank's key financial data is summarized below.
Car Financing:
We have designed a scheme for acquiring major brands of new
and used commercial and non-commercial vehicles for personal,
business and family use.
Salient Features of the scheme are:
• Repayment through easy monthly installment
• Tenor of 1 to 7 years
• Quickest delivery of your selected vehicle
• Fast approval process with simplified documentation
• Personal Accident Coverage
• Partial repayment facility in multiple of Rs.50,000/-
• Grace period in repayment is allowed for vehicles
having long delivery schedule
For further special attractions see the table below:
| Features |
Salaried |
Self-employed |
Women |
| Minimum Down payment |
10% |
20% |
10% |
| Maximum Term of Financing |
7 years |
5 years |
7 years |
| Attractive gifts for online customers at disbursement |
Yes |
Yes |
Yes |
Q.1 Who is eligible for Intercar financing?
Ans. Any salaried or self employed individual between the
ages of 21 years to 55 years.
Q.2 How do I repay the finance?
Ans. The financing can be repaid in Equal monthly installments
through post-dated cheques.
Q.3 Can I prepay the finance?
Ans. Yes, you can prepay the outstanding finance amount after
18 months without any charge or before 18 months at a nominal
charge of 5% of the outstanding amount.
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Q.4 How fast can I get the finance?
Ans. You can get the finance in 24 to 72 hours, provided that
you submit the required documents/information.
Q.5 What is the minimum and maximum amount of finance I can
get?
Ans. The minimum is Rs.100,000/= and the maximum is usually
not more than Rs.1,000,000/=.
Q.6 What are the shortest and the longest duration
in which I can repay the finance?
Ans. You can repay the finance in 12 to 84 months.
Q.7 What documents do I require to submit?
Ans. Completed Application Form, Proof of Income (Salary Slip/Bank
Statement/Tax Return /Audited Financials), Proof of Identity,
and Proof of current residence.
Q.8 Can I get finance for a used car?
Ans. We will finance a used car for you, but it must be less
than 3 years old at the time of booking the financing and
must not be more then 7 years old at the time of maturity.
At present, we are financing only the following makes of used
cars: Suzuki, Toyota, and Honda.
Q.9 I’ve just bought a new car and want cash
against the same?
Ans. We can extend financing to you against your new car if
your car is not more than 6 months old.
Q.10 Are any guarantors required in this?
Ans. No guarantors are required in this case. However, two
references are required who should not be your blood relations.
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