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Apni Bike Scheme - Bike On Installment Without InterestApni Bike Scheme - Bike On Installment Without Interest

Last Updated on: 30th December 2023, 01:07 pm

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Meezan Bank Bike Installment Plan 2024

Meezan Bank offers you the opportunity to buy a motorcycle based on Islamic finance in Musawamah through the Apni Bike Scheme. Musawamah’s financing provider does not disclose the price paid for the manufacture or receipt.

This is ideal for people who want to get Sharia bike financing with many other simple features and fees.

Meezan Bank is committed to the environment based on its Sharia bike funding. In this way, the bank can buy a vehicle on the market and sell it to the customer on comfortable, mutually agreed terms, payable within the term chosen by this option.

Meezan Bank announced that it will offer its customers interest-free motorcycle tariffs in convenient installments. You can buy this motorcycle in individual installments and pay the amount easily.

Key Features And Benefits

  • Funding Method: Musawammah
  • Ownership: Ownership passes to the customer immediately after the customer has signed the delivery note.
  • Product offer: all variations of Honda, Suzuki, Yamaha, Super Power, and other motorcycles.
  • Duration of installment: The program is available for 1, 2, and 3 years.
  • Deposit: You must prepay the lower amount of the vehicle price in fifteen pairs, for higher amounts, you must prepay 50%.
  • Installment is available in: This offer is available for all cities in Pakistan.
  • Processing Fee: A non-refundable processing fee of Rs1800 will be charged along with the document fee.
Apni Bike Scheme - Bike On Installment Without Interest
       Apni Bike Scheme – Bike On Installment Without Interest

How Do I Get A Bike On Installment From Bank?

The client’s application is to apply to Balable Bank’s bike program. Attach the requested documents. Have your application approved within five to seven business days.

  • First, you need to download the provided application form.
  • You must have to solve
  • Then you need to fill out this form and go to the nearest weighing agency, where you will get all the information.
  • There you will get a bike.

Documents Required For Apni Bike Scheme

In order to be able to pick up your bike from the credit bank, you need the following documents:

  • Copy of the applicant’s CNIC ID Card
  • Color page on the applicant’s passport
  • Funding Statement
  • Signature Verification Form
  • The original certified copy of the bank statement
  • The original certified copy of the payslip
  • Reward Certificate including Tenor Office and Pay
  • The original the certified copy of the bank statement of the last twelve months
  • Proof of activity for two years, e.g. Tax return, bank statement, and no other documents

Apni Bike Scheme Eligibility Criteria

  • Minimum Income Requirements
  1. Salaried Individuals – Rs150,000/- (gross salary)
  2. Entrepreneur – Rs200,000/-
  • Deposit

At least 30% of the vehicle costs and a maximum of 50% of the bicycle costs.

  • Completion Rate

Up to 40% of monthly net income/- (For Salaried Individuals and Entrepreneurs).

Also Read: 0.6% Tax On Cash Withdrawals More Than 50,000 From Bank Account

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