Loans & Home Finance · Money
AC on installment in Pakistan compared: HBL, UBL and MCB card plans, Meezan Consumer Ease and Qist Bazaar, with the total paid on a 1.5 ton inverter AC.
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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.
To buy an AC on installment in Pakistan, a credit card installment plan 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.
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.
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.
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 or how to apply for 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):
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.
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. 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.
Some plans charge 0% markup, but none we found is free of fees.
We found no installment plan run by an AC brand itself on an official page. Dawlance’s website blocked our checks.
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 for units and bills, and solar AC if you want to run it on panels.
More guides: mobile on installment, bike on installment, Easypaisa and JazzCash loans, Money.
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.
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.
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.
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.
Photo by Christiaan on Unsplash
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