Meezan Apni Bike offers you the chance to purchase a motorcycle, based on the Islamic financing mode of Musawamah. In Musawammah financing seller does not disclose the price paid to create or obtain the goods. It is ideal for individuals who wish to avail Shariah-compliant bike financing on easy monthly installments in addition to a number of other features.
Meezan Apni Bike Financing works on the Shariah-compliant mode of Musawammah, under which the Bank purchases the vehicle from the market and sells it to the customer, on mutually agreed easy monthly installments, payable over the selected tenure of the facility.
Meezan Apni Bike, designed under the supervision of Meezan Bank’s Shariah Board is based on Musawammah – a Shariah-compliant mode of financing.
Rights & Liabilities of Owner v/s User
Under this mechanism, Bank purchases bike from market and subsequently sells it to the Customer on a mutually agreed price payable in installments. After execution of Musawammah contract, all ownership related rights and liabilities pertaining to bike shall be with the Customer. Customer shall however, be liable to pay installments over the tenure of facility.
How to get a bike through Bike Financing?
To apply for Meezan Bank’s Apni Bike, fill out a customer application form (available at selected branches), attach the required documents and get your financing approved in 5-7 working days. After asset financing approval, the selected Bike will be available as per manufacturer’s defined time period.
Adult, Pakistani National who is a permanent resident of the country
20 years to 65 years of age at the time of maturity (Businessmen & Self-Employed Professionals)
21 years to 60 years of age at the time of maturity (Salaried Individuals)
For salaried individuals - Minimum 40,000/- (Gross Salary)
For self-employed individuals – Minimum 75,000/-
For businessmen - Minimum 75,000/-
40% of net monthly income /- (For Salaried, Self Employed-Person and Businessmen)
Minimum 15% of cost of the vehicle and Maximum 50% of cost of the vehicle
1, 2 and 3 years
Japanese Bikes – Tenor is 3 years
Chinese Bikes – Tenor is 2 years
Direct debit from customer’s Meezan Bank account
Note: In line with State Bank of Pakistan's regulatory requirement, negative history (i.e. overdue/ late payment/ write-off/ waiver) of consumer/individual customers will be reflected in eCIB reports for two years after settlement.
Salaried Class - 150,000/- (Gross Salary)
Businessmen - 200,000/-
Minimum 30% of cost of the vehicle and Maximum 50% of cost of the vehicle
Upto 40% of net monthly income /- (For Salaried and Businessmen)
Fill out a customer application form (available at any Branch)
Attach the required documents and submit your application with Rs. 1,800 (Non-refundable processing fee)
Get your financing approved in a 5-7 working days
Helpful Downloads: Application Form
Fill out the form below and you will be contacted by a Meezan Bank representative.
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