Soneri Bank, MG Motors offer low auto financing rate

LAHORE: Soneri Bank has announced a collaboration with MG Motors Pakistan to provide one of the most competitive auto financing packages in the industry, available under both conventional and Islamic financing facilities.

According to the bank, the financing rate starts from one-year Kibor plus 2.0 per cent, with additional benefits including an insurance rate of 1.5 per cent with tracker, a 100 per cent waiver on processing fees, and no penalties for early settlement or balloon payments.

The offer applies to select MG models, including the MG HS and MG HS Plug-in Hybrid Electric Vehicle (PHEV), appealing to customers seeking a blend of modern design, advanced technology and eco-friendly mobility.

MG Motors Pakistan’s General Manager of Marketing Division Syed Asif Ahmed said the partnership reflects the company’s vision to make premium mobility more accessible. He added that customers can now enjoy MG’s cutting-edge technology while benefiting from the industry’s lowest financing rates in a fully Sharia-compliant manner.