# AC on installment in Pakistan: bank, card and shop plans compared, with the real markup

URL: https://which.pk/money/guides/ac-on-installment/
Author: Hassam
Updated: 20 Oct 2026

## Summary

On a 1.5 ton Dawlance inverter AC selling for Rs 118,000 cash, a 12-month HBL card plan costs about Rs 17,100 extra and UBL's about Rs 21,700, by our estimate before tax on fees. Qist Bazaar needs no card or bank account but its 12-month plans total Rs 146,500 to Rs 151,900, Rs 28,500 to Rs 33,900 above that cash price. Meezan Consumer Ease finances ACs for salaried and business customers over 3 to 24 months. 0% markup plans still charge processing fees.

## Key facts

- Cash price used: Rs 118,000 (1.5 ton inverter)
- Card plan extra, 12 months: HBL ~Rs 17,100 · UBL ~Rs 21,700
- Qist Bazaar extra, 12 months: Rs 28,500 to Rs 33,900
- Meezan Consumer Ease: Rs 35,000 to Rs 10 lakh, 3 to 24 months

To buy an AC on installment in Pakistan, a [credit card installment plan](/money/guides/credit-card-installment-plans/) is usually cheapest if you have a card. On a 1.5 ton inverter AC selling for **Rs 118,000** cash, HBL's 12-month plan costs about **Rs 17,100 extra**, by our estimate. Qist Bazaar needs no card, but its two 12-month plans total **Rs 146,500 to Rs 151,900**, or **Rs 28,500 to Rs 33,900** more. Prices and rates as of October 2026.

**Extra cost on a Rs 118,000 AC over 12 months:** HBL ~Rs 17,100 · UBL ~Rs 21,700 · MCB ~Rs 29,900 · Qist Bazaar Rs 28,500 to Rs 33,900 (Bank figures are our estimates: markup on a reducing balance with equal monthly payments, plus the processing fee, before tax on fees. The Qist Bazaar figures are its listed advance plus 12 instalments, for its two 12-month plans. Rates as of October 2026.)

## How much extra do you pay for an AC on installment?

We priced one AC across every plan we could confirm: the **Dawlance Cruise Plus 1.5 ton inverter** (18,000 BTU, heat and cool). A Rawalpindi retailer, Japan Electronics, listed it at **Rs 118,000** cash on 20 October 2026. Qist Bazaar lists the same model name and specs but shows no cash price, so we compare its plans with that retailer's price.

| Plan (12 months unless shown) | Needs | Monthly | Total paid | Extra over Rs 118,000 |
|---|---|---|---|---|
| HBL card, 24% a year + Rs 1,200 fee | HBL credit card | ~Rs 11,158 | ~Rs 135,100 | ~Rs 17,100 |
| UBL card, 29% a year + 2% fee | UBL credit card | ~Rs 11,446 | ~Rs 139,700 | ~Rs 21,700 |
| MCB card, 39% a year + 3% fee | MCB credit card | ~Rs 12,032 | ~Rs 147,900 | ~Rs 29,900 |
| Qist Bazaar, Rs 45,100 down | CNIC, 2 guarantors, cheques | Rs 8,450 | Rs 146,500 | Rs 28,500 |
| Qist Bazaar, Rs 40,900 down | CNIC, 2 guarantors, cheques | Rs 9,250 | Rs 151,900 | Rs 33,900 |
| Qist Bazaar, 6 months, Rs 56,350 down | CNIC, 2 guarantors, cheques | Rs 12,700 | Rs 132,550 | Rs 14,550 |

The card rows are our calculations from each bank's schedule of charges. HBL's fees other than markup carry Federal Excise Duty (FED) of up to 16%, which adds a little more. Over 6 months, HBL's plan comes to about **Rs 9,600** extra and UBL's about **Rs 12,500**.

Qist Bazaar also lists a 9-month plan (Rs 45,100 down, Rs 10,900 a month, Rs 143,200 in all). It showed exactly the same four plans for a different Dawlance 1.5 ton model (Chillex) on 20 October 2026. Its plan prices may not follow one cash price, so get a cash quote from a shop before you choose.

## How do credit card installment plans work for an AC?

You pay for the AC with your card, then ask the bank to convert the purchase into monthly installments. If you don't convert it, ordinary card markup applies: up to **42% a year** at HBL and **44%** at UBL and MCB.

- **HBL Installment Plan:** 24% a year on the outstanding amount and a **Rs 1,200** processing fee (July to December 2026 schedule). Paying off early costs **6%** of the remaining principal.
- **UBL Lite Installment Plan:** any purchase of **Rs 5,000** or more, over 3 to 36 months. UBL's January to June 2026 schedule, the latest we could open, lists **29% a year** and a fee of **Rs 1,000 or 2%**, whichever is higher. Call **111-825-888** to book it.
- **MCB EasyPay:** purchases of **Rs 25,000** or more, over 3 to 36 months. MCB's schedule lists its I-Plan installments at **39% a year** with a fee of **Rs 1,200 or 3%**, whichever is higher.

Your card needs enough limit for the full price. UBL's Classic card limit stops at **Rs 124,999**, which barely covers a Rs 118,000 AC. To compare cards, see [credit cards in Pakistan compared](/money/guides/credit-cards-pakistan-compared/) or [how to apply for a credit card](/money/guides/how-to-apply-for-credit-card/).

## Can I get an AC on installment without a credit card?

Yes, in two ways: a shop plan such as Qist Bazaar, or bank financing such as Meezan's Consumer Ease.

**Qist Bazaar** needs no card or bank account. Its terms say it is a non-banking finance company licensed by SECP, and SECP's list of 22 July 2026 names it as an approved buy-now-pay-later lender. On 20 October 2026 it listed Dawlance, Haier, Hisense and PEL ACs, with advances from **Rs 27,900** to **Rs 40,900** on its home page.

What Qist Bazaar asks for, from its own pages (checked 18 Oct 2026):

- A copy of your CNIC and **2 guarantors** with their CNICs. A guarantor can be anyone who owns a home or business.
- A visit to check you and your references, a signed agreement and **post-dated cheques** for the instalments. A utility bill may be asked for.
- The advance in cash on delivery. One product per CNIC, with no form fee or delivery fee.

You can pay instalments by cheque, bank transfer, JazzCash, Easypaisa or cash, and repay early. For other no-card options, see [buy now pay later in Pakistan](/money/guides/buy-now-pay-later-pakistan/).

## How does Meezan Bank's AC installment plan work?

**Meezan Consumer Ease** is Islamic financing (Musawamah) for durable goods, and Meezan's page names air conditioners. It is a limit, not a card: you get approved, then choose the AC, and Meezan arranges delivery.

| Consumer Ease (as of October 2026) | Detail |
|---|---|
| Limit | Rs 35,000 to Rs 10 lakh, valid 3 years |
| Tenures | 3, 6, 12, 18 or 24 months |
| Down payment | 5% to 50% of market price |
| Minimum income | Rs 25,000 (salaried) or Rs 40,000 (business) gross a month |
| Instalment cap | 35% of net monthly income |
| Processing fee | Rs 2,200, plus legal documents at actual |
| Late payment | No late charge, but reported to eCIB for 2 years |

Meezan's product page says Rs 1,800 for the processing fee, but its July to December 2026 schedule says **Rs 2,200**. We follow the schedule. The page gives no profit rate, so ask Meezan for the total you will repay before you sign.

Salaried applicants need a CNIC copy, a photo, 6 months of bank statements, a pay slip and an employer certificate. Business owners need 12 months of statements, 2 years of proof of business and an [NTN certificate](/business/guides/how-to-get-ntn/). You apply with the form at a branch or from the website; the online contact form gets you a call back within 2 working days.

## Is there an AC on installment without markup?

Some plans charge **0% markup**, but none we found is free of fees.

- **Bank Alfalah:** inverter AC plans of 3 to 36 months, with **0% markup on 3 and 6 months**, through its AlfaMall store or its instalment portal, The Pakistan Connect reported on 2 August 2026. Processing fees rise with tenure, but the report gives no amounts, and Bank Alfalah's website blocked our checks.
- **UBL** advertises 0% markup on more than 1,000 products from partner shops, and **MCB** offers 0% markup on selected brands through EasyPay Alliance promotions.
- **Daraz EMI** needs a partner bank's credit card, a purchase of at least **Rs 10,000** and enough limit for the full price. Its rate table is undated, so we don't quote it.

**Ask for one number:** Before you sign any plan, ask: "What is the total I will pay, including the processing fee and tax?" Compare that with the cash price at two shops. A 0% plan on an AC priced above the market is not cheaper.

We found no installment plan run by an AC brand itself on an official page. Dawlance's website blocked our checks.

## What does the AC cost to run after you buy it?

The installment is only part of the monthly cost. A 1.5 ton inverter AC also adds to your electricity bill every summer month. See [inverter AC electricity consumption](/solar/guides/inverter-ac-electricity-consumption/) for units and bills, and [solar AC](/solar/guides/solar-ac-pakistan/) if you want to run it on panels.

More guides: [mobile on installment](/money/guides/mobile-on-installment/), [bike on installment](/money/guides/bike-on-installment/), [Easypaisa and JazzCash loans](/money/guides/easypaisa-loan/), [Money](/money/).

## Questions people ask

### Can I get an AC on installment without a credit card?

Yes. Qist Bazaar needs no card or bank account: you pay an advance on delivery, sign an agreement and give post-dated cheques, with two guarantors. Meezan Bank's Consumer Ease also needs no card, but it needs a salary or business income and bank statements.

### Is there an AC on installment without markup?

Some plans are 0% markup. Bank Alfalah's AC plans were reported at 0% for 3 and 6 months in August 2026, and UBL and MCB run 0% plans on selected products. Banks still charge a processing fee, so ask for the total in rupees.

### How do I get an AC on installment from Meezan Bank?

Apply for Consumer Ease with the form at a branch or from Meezan's website, or leave your details and Meezan calls back within 2 working days. Once your limit is approved, you choose the AC and Meezan arranges delivery. The processing fee is Rs 2,200 in its July to December 2026 schedule.

### What is the cheapest way to buy an AC on installment?

If you already have a credit card with enough limit, a bank installment plan usually costs less than a shop plan. In our example, HBL's 12-month plan costs about Rs 17,100 extra on a Rs 118,000 AC, against Rs 28,500 to Rs 33,900 on Qist Bazaar's 12-month plans.

## Sources

- [Dawlance Split AC Inverter 1.5 Ton Cruise+ 30](https://japanelectronics.com.pk/collections/air-conditioners/products/dawlance-split-ac-inverter-1-5-ton-cruise-30), Japan Electronics (accessed 20 Oct 2026)
- [Dawlance | Cruise Plus 1.5 Ton Inverter | Air Conditioner](https://www.qistbazaar.pk/product/dawlance-or-cruise-plus-15-ton-inverter-or-air-conditioner), Qist Bazaar (accessed 20 Oct 2026)
- [Qist Bazaar home page (air conditioners)](https://www.qistbazaar.pk/), Qist Bazaar (accessed 20 Oct 2026)
- [Terms & Conditions](https://www.qistbazaar.pk/page/terms-conditions), Qist Bazaar (accessed 18 Oct 2026)
- [Verification Process](https://www.qistbazaar.pk/page/verification-process), Qist Bazaar (accessed 18 Oct 2026)
- [FAQs](https://www.qistbazaar.pk/page/faqs), Qist Bazaar (accessed 18 Oct 2026)
- [Digital lending apps run by licensed lending NBFCs (22 July 2026)](https://www.secp.gov.pk/document/digital-lending-apps-being-run-and-administered-by-duly-licensed-lending-nbfcs/?ind=1784781149046&filename=Name-of-Digital-Applications-run-by-the-Lending-NBFC-July-22-2026.pdf&wpdmdl=46367), SECP (accessed 18 Oct 2026)
- [HBL CreditCard (Green and Gold) Schedule of Bank Charges, July to December 2026](https://www.hbl.com/assets/documents/HBL_Gold___Green_CreditCard_SOBC_%28July-Dec_26%29.pdf), HBL (accessed 15 Oct 2026)
- [UBL Credit Card Summary Box (Key Fact Statement, January to June 2026)](https://www.ubldigital.com/portals/0/pdf/KFS-Change-in-SOC-Jan-2026-to-Jun-2026.pdf), UBL (accessed 15 Oct 2026)
- [UBL Credit Card (Lite Installment Plan)](https://ubldigital.com/Loans/Cards-Products/UBL-Credit-Card/UBL-Credit-Card-Product), UBL (accessed 18 Oct 2026)
- [MCB Schedule of Bank Charges, July to December 2026](https://www.mcb.com.pk/assets/documents/SOBC-July-December-2026-English.pdf), MCB (accessed 16 Oct 2026)
- [MCB Classic and Gold Credit Card](https://www.mcb.com.pk/personal/cards/credit-cards/classic-gold-credit-card), MCB (accessed 18 Oct 2026)
- [Consumer Ease](https://www.meezanbank.com/consumer-ease/), Meezan Bank (accessed 20 Oct 2026)
- [Schedule of Charges, July to December 2026](https://www.meezanbank.com/wp-content/themes/mbl/downloads/home-downloads/SOC-ENG-Jul-Dec-2026.pdf), Meezan Bank (accessed 18 Oct 2026)
- [Inverter AC installment plans from Bank Alfalah ranging from 3 to 36 months](https://thepakistanconnect.com/inverter-ac-plans-bank-alfalah/), The Pakistan Connect (accessed 20 Oct 2026)
- [Terms and Conditions for Daraz Easy Installments (EMI) Plans](https://www.daraz.pk/wow/i/pk/payment-partners/emi-terms-and-conditions/), Daraz (accessed 20 Oct 2026)