Pakistan’s First Musawamah-Based Motorcycle Financing Facility
Meezan Bank introduces Meezan Apni Bike, a Shariah-compliant motorcycle financing scheme based on the Musawamah model. This facility allows you to purchase a motorcycle on easy monthly installments, with a variety of benefits designed to suit your needs. Whether you are looking for a Honda, Suzuki, Yamaha, or any other brand, Meezan Apni Bike is the perfect solution to bring your dream bike home.
Key Features & Benefits
| Feature | Details |
|---|---|
| Mode of Financing | Musawamah (Shariah-compliant) |
| Ownership Transfer | Immediate transfer of ownership after signing the delivery order |
| Eligible Brands | Honda, Suzuki, Yamaha, Super Power, and other motorcycles |
| Facility Tenure | Available for 1, 2, or 3 years |
| Down Payment | Minimum 15% and Maximum 50% of the vehicle cost |
| Available Locations | Karachi, Lahore, Faisalabad, Peshawar, Rawalpindi, Islamabad, and other cities |
| Processing & Documentation Fees | Non-refundable processing fee of PKR 1,800; documentation charges at actual cost |
| Mode of Payment | Direct debit from Meezan Bank account |
| Early Termination | No early termination profit |
How Does Meezan Apni Bike Work?
Meezan Apni Bike operates on the Musawamah model, where the bank purchases the motorcycle from the market and sells it to the customer at a mutually agreed price, payable in easy monthly installments over the selected term.
After signing the Musawamah contract, all rights and liabilities related to the bike are transferred to the customer, including the responsibility to pay the agreed installments.
Shariah Compliance
Meezan Apni Bike is structured under the supervision of Meezan Bank’s Shariah Board, ensuring complete compliance with Islamic financial principles. This financing method is based on the Musawamah contract, which allows for the purchase and sale of goods in a way that avoids interest-based transactions.
Who Can Avail Meezan Apni Bike Financing?
To be eligible for the Meezan Apni Bike scheme, applicants must meet the following criteria:
| Eligibility Criteria | Details |
|---|---|
| Age | 21-65 years |
| Minimum Income | Salaried: PKR 150,000 |
| Debt Burden Ratio | Up to 40% of net monthly income |
| Down Payment | 30% to 50% of the vehicle cost |
| Tenure | 1, 2, or 3 years |
| Payment Mode | Direct debit from Meezan Bank account |
Note: Negative credit history (e.g. overdue payments or write-offs) will reflect on your eCIB report for two years after settlement.
How to Apply for Meezan Apni Bike Financing
Getting your bike through Meezan Apni Bike is simple:
- Fill out the Customer Application Form available at any Meezan Bank branch.
- Attach the required documents and submit your application with a non-refundable processing fee of PKR 1,800.
- Get Financing Approval within 5-7 working days.
- After approval, choose your bike and pick it up as per the manufacturer’s delivery timeline.
Required Documents
General Requirements
- Copy of CNIC (Computerized National Identity Card)
- One passport-sized photograph
- Signature verification form
- Financing declaration
For Salaried Individuals
- Original/certified copy of bank statement (last 6 months)
- Original/certified copy of pay slip
- Employer’s certificate with designation, salary, and tenure
For Businessmen / Self-Employed Professionals (SEP)
- Original/certified copy of bank statement (last 12 months)
- Proof of business (e.g., tax return, bank certificate, etc.)
Application Form
For more information or to apply, visit your nearest Meezan Bank branch today!
Calculators to Compare Different Bikes & Payment Plans!
Click on this link Installment Calculator
