Meezan Bank Launches 36-Month Installment Plan for All Bikes
These days, more people are buying bikes as a result of rising fuel and vehicle prices. In order to capitalise on this, Meezan Bank Limited has created “Apni Bike,” a 36-month installment plan for all bikes in Pakistan.
The specifics state that the programme is offered for one, two, and three years. However, the maximum payment term for Chinese bikes (bikes other than Honda, Suzuki, or Yamaha) is two years.
Also, the down payment for the bike might be as little as 15% or as high as 50% for the buyers. Also, the applicants must pay a non-refundable processing fee of Rs. 1,800 to the bank.
The service is, however, restricted to a particular consumer base.The following criteria apply:
- Adult citizens of Pakistan who are also citizens of the country permanently are eligible to apply.
- Candidates must be between 20 and 65 years old.
- Minimum gross salary of Rs. 45,000 for employees and Rs. 75,000 for self-employed people and businesspeople.
- If there is debt, the percentage shouldn’t exceed 40% of net income.
- Candidates must be debit card holders from Meezan Bank.
The requirement for 250cc motorcycle buyers is as follows:
- Minimum gross salary of Rs. 150,000 for those in employment and Rs. 200,000 for those in self-employment and company.
- Buyers may put down as little as 30% or as much as 50% of the bike’s cost.
- If there is debt, the percentage shouldn’t exceed 40% of net income.
The company’s official website has a detailed description of the remaining provisions. Meezan Bank expects that by making this offer, it would increase the number of bike sales and attract more applications for its own debit card.
Good news for citizens as it becomes easier to purchase a bike as Meezan Bank Launches 36-Month Installment Plan for All Bikes.
