Meezan Apni Bike Scheme | Meezan Bank Apni Bike Scheme 2024
For many people in Pakistan, having a bike is an important need as it provides an easy and affordable way to get around. Meezan Bank has introduced the Meezan Apni Bike Scheme to make it easier for individuals to buy a bike with manageable monthly payments. Instead of paying the full price upfront, you can now pay in installments that fit your budget.
The Apni Bike Scheme is Shariah-compliant, meaning there is no interest (Riba) involved, making it a fair and ethical way to buy a bike. The scheme covers different types of motorcycles, including popular Japanese brands like Honda and Yamaha, as well as more affordable Chinese brands.
You can choose from flexible payment plans that suit your financial situation, whether you are a salaried person, self-employed, or running your own business. This scheme helps make buying a bike more accessible for everyone.
What is Meezan Bank’s Bike Scheme?
Meezan Bank’s Apni Bike Scheme makes it easier for anyone in Pakistan to own a bike through an easy-to-manage financing option. The bank purchases the motorcycle on your behalf and then sells it to you at a fixed price, allowing you to pay the amount in monthly installments.
This system is interest-free, making it an ethical choice for those who prefer to avoid interest-based loans. The scheme covers a wide range of bikes, including popular models from brands like Honda, Yamaha, Suzuki, and others. Whether you choose a new or used bike, the scheme offers a flexible payment plan that suits various financial needs.
Eligibility for Meezan Apni Bike Scheme
Before applying for the Meezan Apni Bike Scheme, applicants must meet the following eligibility criteria:
Age
The applicant must be between 21 to 60 years old (salaried individuals) or 20 to 65 years (self-employed individuals or businessmen).
Income
- Salaried individuals must have a minimum monthly income of PKR 40,000.
- Self-employed individuals or businessmen should earn at least PKR 75,000 per month.
Documents
The required documents include:
- Valid CNIC (Computerized National Identity Card)
- Recent passport-sized photograph
- Proof of income (salary slip or business records)
- Proof of residence (utility bills or rental agreement)
Employment Type
The scheme is available for salaried individuals, businessmen, and self-employed professionals.
How to Apply for Meezan Bike Scheme
The application process for the Meezan Apni Bike Scheme is simple. Follow these steps:
- Visit Meezan Bank Branch: Go to any Meezan Bank branch offering bike financing.
- Submit Documents: Provide your CNIC, proof of income, and proof of residence.
- Choose Your Bike: Pick your desired bike from one of the approved dealers.
- Loan Approval: Meezan Bank will review your application and approve the loan if everything is in order.
- Sign the Agreement: After approval, sign the financing agreement, and the bike is yours!
If you want to apply for these scheme, click the button given in below:
Benefits of Meezan Bike Scheme
- Shariah-Compliant: The scheme is based on Islamic finance principles, meaning there is no interest (Riba) involved.
- Affordable Installments: You can pay for your bike in easy monthly installments.
- Wide Range of Bikes: Choose from well-known brands such as Honda, Yamaha, and Suzuki.
- Flexible Terms: You can choose repayment plans from 12 to 36 months, based on your financial capacity.
- Quick Processing: Meezan Bank offers a fast approval process, so you can get your bike sooner.
Financing Terms and Rates
Meezan Bank offers flexible terms under its Bike Scheme. Here’s a breakdown of the financing details:
- Loan Amount: The bank can finance up to 80% of the total bike price.
- Down Payment: A down payment of 15% to 50% is required based on the bike’s cost.
- Repayment Period: You can choose repayment terms ranging from 12 months to 36 months.
- Murabaha Model: The scheme is based on the Murabaha principle, meaning the bike is bought by the bank and then sold to you at a fixed price with no interest.
Important Dates and Application Deadlines
The last date to apply for the Meezan Apni Bike Scheme is expected to be November 2024. Be sure to apply before this deadline to take advantage of this financing opportunity. You can submit your application either online through the Meezan Bank website or by visiting your nearest branch.
Bottom Line
Meezan Bank’s Apni Bike Scheme offers a great way for individuals in Pakistan to own their dream bike without paying the full amount upfront. With flexible repayment terms, Shariah-compliant financing, and a quick approval process, this scheme makes it easier for people from all walks of life to buy a bike. If you’re looking for an affordable way to own a motorcycle, Meezan Bank’s Apni Bike Scheme could be the perfect solution for you. Make sure to apply before the deadline to ensure you don’t miss out on this opportunity.
FAQ’ s
What is Meezan Bank’s Apni Bike Scheme?
It’s a Shariah-compliant financing plan that lets you buy a bike in easy installments, with no interest. Available for new and used bikes from popular brands like Honda and Yamaha.
Who can apply for the scheme?
You need to be between 21 to 60 years old (salaried) or 20 to 65 years old (self-employed), with a monthly income of at least PKR 40,000 (salaried) or PKR 75,000 (self-employed).
How do I apply?
Visit any Meezan Bank branch, submit documents like CNIC and proof of income, pick your bike from an approved dealer, and sign the agreement once approved.
What types of bikes are available?
The scheme covers bikes from brands like Honda, Yamaha, Suzuki, and others. Both new and used bikes are available.
How much down payment is required?
The down payment is between 15% to 50% of the bike’s price, depending on the model.
