Auto Loans Reportedly Increased By 19 Percent In Pakistan

03 Feb 2021

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Auto Loans Reportedly Increased By 19 Percent In Pakistan

The State Bank of Pakistan has recently issued a report in which it was claimed the rate of Auto loan has been increased by 19 percent amounting 41 billion rupees.

According to the official statistics of The SBP, in 2019 the car loans were recorded 219 billion rupees and during the same period in 2020 a huge increase of 256 billion rupees is recorded.

The media reports suggest that this massive increase in Auto Loans is because of much demand of 1300cc vehicles. According to an unknown media outlet, the loan is increased on newly launched Toyota Yaris. The low interest rate is also considered as a factor causing increase in loan.

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