By Meezan Bank is now offering an exciting opportunity for customers in Pakistan to purchase motorcycles, including both traditional and electric models, with zero-percent markup. Through their “Meezan Apni Bike Financing” plan, customers can acquire a bike on easy monthly installments spread over 12 months, without any interest.
A Shariah-Compliant Financing Model
Meezan Bank’s bike financing operates under a Shariah-compliant model called “Musawamah,” a type of financing in which the seller does not disclose the cost of acquiring the goods. This allows individuals to buy bikes with a clear understanding of their monthly installments, without any hidden fees or interest charges. As a result, this financing scheme is ideal for customers who prefer Shariah-compliant financial solutions, while also providing the added convenience of manageable monthly payments.
Popular Bike Models Available
The “Meezan Apni Bike Financing” program offers a range of popular bike models at zero-percent markup. Customers can choose from well-known brands like Suzuki, Yamaha, Honda, and Super Power, along with other available motorcycle variants, making it an ideal option for those looking for fuel-efficient and affordable transportation in urban areas.
Eligibility Criteria for Meezan Apni Bike Financing
To be eligible for this bike financing scheme, applicants must meet the following requirements:
- Citizenship: Must be a Pakistani citizen.
- Age Requirements: Business owners and self-employed applicants should be between 20 and 65 years of age at maturity. Salaried individuals must be between 21 and 60 years of age at the time of maturity.
- Income Requirements: Salaried applicants should have a minimum monthly income of Rs. 40,000, while self-employed and business applicants need a minimum income of Rs. 75,000.
Quick and Convenient Application Process
Meezan Bank has streamlined the application process, with approvals typically taking around five to seven days. This quick turnaround allows customers to enjoy their new bikes sooner, with the added benefit of affordable installment payments.
Meezan Bank’s zero-percent markup bike financing option
Meezan Bank’s zero-percent markup bike financing option offers a unique and practical solution for Pakistanis seeking affordable transportation. By using a Shariah-compliant model, Meezan Bank provides customers with a transparent and accessible way to purchase their preferred bike, whether for personal or business use. With convenient installment options, competitive eligibility requirements, and a selection of popular bike models, Meezan Apni Bike Financing is set to become a popular choice for Pakistan’s urban commuters.
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