Meezan Bank Apni Car | Interest-Free Car Installment Plan
If you’ve set your sights on owning a car but lack the funds, there’s good news for you! Meezan Bank offers an interest-free car financing option, making it Pakistan’s pioneer in interest-free car financing services.
Utilizing Link’s Islamic financing method, this unique product caters to individuals seeking interest-free financing for locally assembled budget-friendly vehicles.
Here’s how you can embark on your journey towards car ownership with Meezan Bank:
Easy Application Process:
Approaching Meezan Bank is the first step to realizing your dream of owning a car. The bank extends a hassle-free tenure of five years to make your car ownership experience smooth and affordable.
Eligibility Criteria:
To qualify for Meezan Bank’s car financing, you must meet certain criteria, ensuring a straightforward process. This facility is available for locally assembled and complete blood pusher vehicles. A security deposit ranging from a minimum of fifteen percent to a maximum of fifty percent of the vehicle’s price is required.
Additionally:
- Both data checks and the applicant’s financial history should be clear at the time of gas approval.
- This facility is accessible to Maam Roshan digital account holders, including foreign currency account orders.
- Enjoy the benefit of no processing charges; however, documents and security perfection charges are payable by the applicant upon case approval.
- Monthly payments will be deducted directly from the KPKR Vision account via debit.
- The vehicle can be registered in the name of the applicant, the borrower’s sibling, or any other blood relative.
- For non-filers, a seven percent advance tax on the vehicle’s value applies at the time of delivery.
- Applicants must be at least twenty-five years old.
Apni Car Meezan Bank Update:
Thanks to Meezan Bank’s support, customers can now drive away in their chosen car with the convenience of easy five-year installments. Avail yourself of this opportunity by making just a 15% down payment before August 31, 2023.
If you also want to apply for the Mera Pakistan Mera Ghar Scheme, read our article.
Car Ijarah Eligibility:
To further streamline the process, here are the eligibility requirements:
- A certified bank statement of the last six months endorsed by the embassy.
- Copy of CNIC of the nominee.
- Qiyam Malik Credit Bureau Report.
- For income against remittance, a bank statement of the last six months of remittance is necessary.
- Provide your latest employment certificate, including the last date of joining.
- Submit the bank statement of the last six months reflecting credited salary.
Visit your nearest Meezan Bank branch to kickstart your journey towards car ownership with ease.