Meezan Bank is offering customers the opportunity to get normal or electric bikes in Pakistan at zero per cent markup with easy installments of up to 12 months.
The bank is offering bikes under a Shariah-compliant, interest-free transaction model of “Musawamah.”
“Musawammah financing seller does not disclose the price paid to create or obtain the goods. It is ideal for individuals who wish to avail of Shariah-compliant bike financing on easy monthly installments in addition to a number of other features,” read the details of the financing scheme on Meezan Bank’s website.
Bikes are a common choice for people in urban areas of Pakistan due to their affordability and lower consumption of fuel.
The bikes being offered at zero per cent markup under Meezan Apni Bike Financing include Suzuki, Yamaha, Honda, Super Power, and other motorcycle variants.
Who is eligible to get a bike under ‘Meezan Apni Bike Financing?
To apply for Meezan Apni Bike Financing, you must be a Pakistani citizen. Businessman and self-employed applicants should be between 20 and 65 years of age at maturity, while salaried individuals must be between 21 and 60 years of age at the time of maturity.
The income of salary individuals must be Rs40,000 when submitting the application, while employed individuals and businessmen must have a minimum income of Rs75,000.
The application process for financing will take around five to seven days. You can download the application form from here.
Read this also: Prize bond schedule list for November 2024
