The procedure of this scheme is to provide 70% of finance to someone who is in need of Auto Finance on the basis of 'Murabaha'.
Taqwa has prepared many schemes for benefit of the general public, Auto Finance is also one of such schemes. Right from the day one of its commencement, Taqwa is striving to fulfill the needs of the people within the purview of Shari'a. This Auto Finance scheme is one of the steps in that direcon. The procedure of this scheme is to provide 70% of finance to someone who is in need of Auto Finance on the basis of 'Murabaha'. Every month, 1% profit and monthly principle amount will be collected from the customer on the amount provided under this financing scheme. To avail this finance, customer has to deposit 30% of the vehicle amount (ex showroom price) in advance in his/her account with Taqwa. Besides that, ₹500/- processing fee and ₹500/- documentaon fee will be also collected from the customer. The period of financing for motor bikes shall be minimum one (1) year and maximum two (2) years, whereas for cars it will be minimum one (1) year and maximum four (4) years.
To raise any complaint or suggestion, please contact the specialized complaints unit at Taqwa through any of the following channels
location_on 38-A, Nagappa Nayak Road, NH66, Bhatkal (N.K)-581320, Karnataka, India
mail contact@itaqwa.com
phone_in_talk +91-8385450000 OR +91-9380115722