Introducing the Meezan Bank “Apni Bike Program” Bike prize – Your Chance to Own a Motorcycle with Islamic Financing Meezan Bank is proud to announce the Apni Bike Program, an opportunity to encourage the purchase of Motorcycles Through Islamic Financing Principles. Our Musawamah financing system ensures that buyers and sellers do not disclose the price paid to make or receive the vehicle. With this program, you can own a new bike according to Shariah law with flexible payment options and attractive features of NADRA Biker Service in Pakistan.
Meezan Bank Offers Motorcycle Loans with Easy Payment Plans
Meezan Bank understands that buying a bike can be a big decision, and therefore, offers favourable payment plans to its customers. The bank purchases the bike from the market and sells it to the customer in easy instalments. Both parties agree on the payment schedule, and the customer pays back the loan within the specified timeframe without any interest. This hassle-free process makes it easier for customers to own their dream motorcycle Meezan Bank instalment plan.
Product Features and Benefits
- Financing: Musawammah
- **Ownership:** Immediate ownership of the item as the customer signs the delivery receipt.
- **Product Offering:** A range of motorcycle variants from Honda, Super Power, Yamaha, Suzuki, and other brands.
- Facility Tenure: The scheme is available for 1 to 3 years.
- **Down Payment:** Only a 15% down payment is required, which is less than the typical 50% advance payment.
- **Availability:** This offer is available in all cities of Pakistan.
- **Processing Fee:** A non-refundable processing fee of 1800 PKR and document fees will apply.
A Step-by-Step Guide on Acquiring a Bike through Apni Bike Program
If you’re interested in joining the Apni Bike Program, follow these steps to ensure a seamless process:
- Obtain the form from the provided link and fill it out accordingly.
- Take the completed form to your nearest Balance shop, where you’ll receive further information.
- After submitting all the necessary documents, wait for five to seven business days for your application to be approved.
To obtain a bike through the Balance bank, you will need to provide the following documents:
- A copy of your CNIC
- A side-color declaration of support from your passport
- A signature proof form
- The bank statement’s original, signed copy
- The actual, signed copy of the Pay Slip Reward Certificate, which includes the Tenor Office and Pay
- Please provide a signed copy of your bank statement from the last 12 months.
- Proof of business for two years, such as a tax return or a bank certificate.
Eligibility Criteria for the Apni Bike Program Are you interested in the Apni Bike Program? Here’s what you need to know to apply:
- Minimum Income Requirements
- Salaried Class – 150,000/- (Gross Salary)
- Businessmen – 200,000/-
- *Down Payment**
- A minimum of 30% of the vehicle’s cost is required.
- *Debt Burden Ratio**
- For both salaried individuals and businessmen, up to 40% of their net monthly income can be allocated.
- Requirements for Salaried Individuals
- Original/Certified copy of the Bank Statement (last 6 months)
- Original/Certified copy of the Pay Slip
- Employer’s certificate including the Tenor/Designation/Salary
- *Requirements for Businessmen / SEP**
- Please provide either the original or certified copy of your bank statement for the last 12 months.
- 2 years Proof of the Business (e.g. Tax return/Bank Certificate/any other document)
Don’t forget to check out other government schemes like the Ehsaas Program 8171, Ehsaas Rashan, Ehsaas Kafalat, etc.
Requirements for 70cc, 100cc, and 125cc Motorcycles (Bike prize)
Meezan Bank is offering a three-year or 36-month installment plan for Honda CD 70, Honda 100cc Pridor, Honda 125, Yamaha YBR 125, Suzuki 110, and Suzuki 150 motorcycles. To take advantage of this promotion, you must have an account with Meezan Bank and pay a non-refundable processing fee of 1,800 rupees.
To qualify for the Mezan Bank Bike Installment Plan, the applicant must be between 20 and 65 years of age. Employed individuals must earn a minimum of 45,000 rupees per month while self-employed workers must earn at least 75,000 rupees each month. The interest rate on the loan should not exceed 40% of the applicant’s income, and a debit card is required.
Meezan Bank Bike Application Form
Are you interested in applying for Meezan Bank’s Bike Installment Plan? You can get the application form for free right here on our website. Additionally, you can find information on the Mezan Bank Bike Installment Plan 2023.
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