Meezan Bank Launches 36-Month Installment Plan for All Bikes

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Bike demand is on the rise these days due to soaring fuel and car prices. Meezan Bank Limited has decided to take advantage of that by offering ‘Apni Bike’ — a 36-month installment plan for all bikes in Pakistan.

According to the details, the scheme is available for one, two & three years. Although, for Chinese bikes (bikes other than Honda, Suzuki, or Yamaha) the maximum installment tenure is 2 years.

Furthermore, the customers can make a minimum of 15% or a maximum of 50% downpayment for the bike. The bank will also charge a non-refundable processing fee of Rs. 1,800 from the applicants.

Although, the service is only available to a certain segment of customers. The requirements are as follows:

  • Adult Pakistani nationals and permanent residents of the country can apply for the offer.
  • Applicants must be 20 to 65 years old.
  • Minimum Rs. 45,000 gross salaries for employed individuals, Rs. 75,000 for self-employed individuals, and for businessmen.
  • The debt burden ratio (if any) shouldn’t be more than 40% of the net income.
  • Applicants must be Meezan Bank debit cardholders.

The requirement for 250cc motorcycle buyers is as follows:

  • Minimum Rs. 150,000 gross salaries for employed individuals, Rs. 200,000 for self-employed individuals and businessmen.
  • Customers can avail of a minimum 30% or maximum 50% down-payment on the cost of the bike.
  • The debt burden ratio (if any) shouldn’t be more than 40% of the net income.
  • The remaining provisions are mentioned in detail on the company’s official website. With this offer, Meezan Bank will likely facilitate an increase in bike sales and get more applications for its own debit card.

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