Meezan Bank has decided to provide interest free loans to buy bikes in Pakistan. This Apni Bike Scheme has been launched for those who earn a minimum of 40 thousand rupees from their business or those who have government jobs. Hence, such people can get loans and buy Honda, Suzuki, Yamaha, Super Power, or other variants of bikes easily.
Let me tell you the fact, the Meezan Bank is providing loans for Apni Bike only to Government Employees. Meezan Bank’s Apni Bike Scheme offers an easy and interest-free financing solution for the purchase of motorcycles in Pakistan.
Meezan Bank Apni Bike Scheme 2024
The Meezan Apni Bike Scheme is designed for salaried individuals who work on the Musawammah mode of financing. This scheme will help the applicants to purchase a motorcycle and the payment will be pay by the Meezan Bank. If you also want to get an interest-free bike from Meezan Bank, then apply today.
The scheme follows Musawa’s Islamic financing model, which allows customers to purchase bikes on a transparent, interest-free basis. All the necessary details are available in this post, which makes you fully aware of the Meezan Apni Bike Scheme 2024.
Take A Look At: Punjab Bike Scheme
Meezan Bank Apni Bike Scheme Installment Plan
You can benefit from this scheme, Meezan Bank is giving loans from 1 year to 3 years. If your salary is low, you can repay the loan in 3 years. But after giving you all your details, the bank will decide how long you have to take it.
- For Japanese Bikes: The maximum repayment period is 3 years.
- For Chinese Bikes: The maximum repayment period is 2 years.
Remember! Before getting the bike you have to pay some down payment, this is include in the bank rules.
Eligibility Criteria for Bike Scheme
If you also want to get an interest-free Apni Bike from Meezan Bank then you must fulfill the eligibility criteria given below.
- Must be a citizen of Pakistan
- Applicant age between 21 to 60 years.
- Your monthly income should be 40000 thousand.
- Self Employed Individuals and Entrepreneurs minimum monthly income should be PKR 75,000.
- A minimum of 15% of the value of the bike is require as a down payment, and can go up to a maximum of 50%.
Required Documents for Scheme
To apply for the bike scheme, you need to provide the following documents.
- National Identity Card
- 4 Passport-sized Photograph
- A completed form stating your intention to obtain financing for the motorcycle.
How to Apply for the Meezan Bank Apni Bike Scheme
- Visit the Meezan Bank Website: Go to www.meezanbank.com
- Download the Apni Bike Scheme application form from the website.
- Complete the application form with your personal and financial details.
- Now submit the completed form along with your documents at your nearest Meezan Bank branch.
- Meezan Bank will contact you soon if you are eligible for this scheme.
Take A Look At: NADRA Biker Service
Conclusion
Government Employees and entrepreneurs are getting interest-free motorcycle loans from Meezan Bank. If you also want to apply, visit the nearest Meezan Bank or the official website. However, to benefit from this scheme, the application fee has to be paid separately.
You will get the best collection of bikes from Meezan Bank. You can get the bike of your choice without any interest, you can choose from Suzuki, Yamaha, Honda, and other available motorcycles.
What is the Meezan Bank Apni Bike Scheme?
Meezan Bank Apni Bike Scheme is an interest-free loan scheme that follows the Islamic financing model of Musawamah. Get a loan to buy your dream bike and repay the loan within 2 to 3 years. It is the best chance for job employees and self-employed men to get their new bike without paying taxes by getting a loan from Meezan Bank Interest-Free Apni Bike Scheme.
What are the basic requirements to apply for this scheme?
An adult aged from 20 years to 65 years can apply. In addition, the applicant must be a permanent Pakistani with a National Identity Card.
What is the minimum income require for this program?
To get a loan from this program the person needs to fulfill the special minimum income requirements. Salaried individuals must earn a minimum of 40,000 rupees, self-employed individuals must earn a minimum of 75,000 rupees, and businessmen a minimum of 75,000 rupees.
How much down payment is require in this loan program?
This program required a minimum of 15% of the cost of the vehicle and a maximum of 50% as a down payment in this program.
Can a person get a 250CC bike from the Meezan Bank Apni Bike Scheme?
Yes, a 250CC bike loan requires a minimum income of 150,000 rupees for salary persons and 200,000 rupees for businessmen. Moreover, the borrower must make a down payment minimum of 30% and a maximum of 50% of the cost of the vehicle. Borrower’s 40% salary must be paid for the re-pay of the loan.