Honda Bike 2023 Meezan Bank Apni Bike Scheme 2023 Full Installment Policy
Honda Bike 2023 Meezan Apni Bike Scheme 2023 Full Installment Policy
Along with vehicles, Meezan Bank also leases motorcycles of All Pakistan Motorcycles Company.In today’s blog, I will give you complete information about the most popular models of Honda bikes from Meezan Bank, Honda CD 70, Honda 125 and Honda Prider 100, how to buy them under Meezan Bank’s bike scheme.
Meezan own bike financing
Pakistan’s first peer-to-peer motorcycle financing facility
Meezan Apna Bike offers you the opportunity to buy a bike based on Masauma’s Islamic financing mode. In equity financing, the seller does not disclose the price paid to manufacture or acquire the goods. It is ideal for individuals who want to avail Shariah-compliant bike financing in easy monthly installments, among many other features.
Meezan operates its bike financing on a Shariah compliant mode of financing, whereby the bank buys the bike from the market and sells it to the customer in mutually agreed upon easy monthly installments, payable over a selected period.
Key Features and Benefits
Mode of Financing: Equity
Ownership: Ownership is transferred to the customer immediately after the customer signs the delivery order.
Product offering : All Honda, Suzuki, Yamaha, Superpower and other types of motorcycles
Duration of facility: The scheme is available for 1, 2 and 3 years.
Leverage: Minimum 15% of bike price and maximum 50% of bike price
Facilities are available in: Karachi, Lahore, Faisalabad, Peshawar, Rawalpindi, Islamabad and other cities
Processing and / Documentation Charges: A non-refundable processing fee of Rs.1,800 will be charged while documentation charges will be charged at the same time.
Payment Method : Direct Debit from Customer’s Meezan Bank Account
Early termination: There is no profit on early termination
How is Meezan’s bike Shariah Compliant?
Meezan Apni Bike, designed under the supervision of Meezan Bank’s Shariah Board, is based on Masawmah – a Shariah compliant financing method.
OWNER VERSUS USER RIGHTS AND RESPONSIBILITIES
Under this method, the bank buys the motorcycle from the market and subsequently sells it to the customer at a mutually agreed price paid in installments. Upon execution of the Contract of Sale, all ownership rights and responsibilities relating to the Motorcycle shall be vested in the User. However, the customer will be liable to pay the installments during the facility period.
How to get a bike through bike financing?To apply for your Meezan bike, fill the customer application form (available at selected branches), attach the required documents and get your financing approved within 5-7 days. After approval of asset financing, the selected bike will be available as per manufacturer’s specified period.
Required Documents
General requirements
Copy of Applicant’s Identity Card (Computerized National Identity Card)
One passport size color photograph of the applicant
Acknowledgment of financing
Signature Verification Form
Specific requirements
For salaried persons
Original / Certified Copy of Bank Statement (Last 6 Months)
Original/attested copy of pay slip
Employer’s certificate including tenure/designation/salary
Specific requirements
For Traders / SEP
Original / Certified Copy of Bank Statement (Last 12 Months)
2 years proof of business (eg tax return, bank certificate / any other document)
Who can avail Meezan own bike financing facility?
Adult, Pakistani citizen who is a permanent resident of the country
20 years to 65 years of age at maturity (business and self-employed professionals)
Age 21 years to 60 years at the time of maturity (salaried persons)
For Salaried Persons – Minimum Rs.40,000 (Gross Salary)
For Self-Employed Persons – Minimum Rs.75,000
For Entrepreneurs – Minimum Rs 75,000
40 percent of monthly income (for salaried, self-employed persons and entrepreneurs)
A minimum of 15% of the value of the bike and a maximum of 50% of the value of the bike
1, 2 and 3 years
Japanese Bike – Duration is 3 years
Chinese Bike – Duration is 2 years
Application Procedure
Fill the User Application Form (Available at any Branch)
Attach the required documents and submit your application along with Rs.1,800 (non-refundable processing fee).
Get your financing approved in five to seven days
VEHICLE DETAILS
Honda CD 70-2023 PKR 149,900/=
Technical Specifications
| Engine | 4-Stroke OHC Air Cooled |
| Displacement | 72 cm3 |
| Bore & Stroke | 47.0 x 41.4 mm |
| Compression Ratio | 9.3:1 |
| Clutch | Multiplate Wet Clutch |
| Transmission | 4 Speed Constant Mesh |
| Starting | Kick Start |
| Frame | Backbone Type |
| Dimension(LxWxH) | 1897 x 751 x 1014 mm |
| Ground Clearance | 136 mm |
| Petrol Capacity | 8.5 Liters (Reserve: 1.0 Liter) |
| Tire at Front | 2.25 – 17 (4 PR) |
| Tire at Back | 2.50 – 17 (4 PR) |
| Dry Weight | 82kg |
Honda CD-70 Lease Details
| Down Payment | Rs. 37,470 (30%) |
| Processing Fee | Rs. 1,800 |
| Total Upfront | Rs. 39,270 |
| Number of Months | 36 |
| Monthly Installment | Rs. 3,955 |
Honda CG 125 (Special Edition) PKR 265,900/=
Technical Specifications
| Engine | 4 Stroke 125cc OHV Air Cooled |
| Displacement | 124.1 cm3 |
| Bore & Stroke | 56.5 x 49.5 mm |
| Compression Ratio | 9.0:1 |
| Transmission | 5 Speed Constant Mesh |
| Starter | Self-Start/Kick Start |
| Final Drive | Roller Chain |
| Dimension(LxWxH) | 1912 x 727 x 1029 mm |
| Seat Height | 765 mm |
| Ground Clearance | 133 mm |
| Petrol Capacity | 9.2 Liters (Reserve: 2 Liters) |
| Wheel Base | 1212 mm |
| Tire at Front | 2.50 – 18 (38P) |
| Tire at Back | 3.00 – 17 (50P) |
| Suspension at Front | Telescopic Fork 103mm Travel |
| Suspension at Back | Swing Arm 70 mm Travel |
| Dry Weight | 108kg |
Honda CG 125 (Special Edition) Lease Details
| Down Payment | Rs. 67,470 (30%) |
| Processing Fee | Rs. 1,800 |
| Total Upfront | Rs. 69,270 |
| Number of Months | 36 |
| Monthly Installment | Rs. 7,122 |
Honda Pridor 100- PKR 197,900/=
| Down Payment | Rs. 49,650 (30%) |
| Processing Fee | Rs. 1,800 |
| Total Upfront | Rs. 51,450 |
| Number of Months | 36 |
| Monthly Installment | Rs. 5,241 |
Technical Specifications
| Engine | 4-Stroke OHC Air-Cooled |
| Displacement | 97.1 cm3 |
| Bore & Stroke | 50.0 x 49.5 mm |
| Transmission | 4-Speed Constant Mesh |
| Starting | Kick Starter |
| Final Drive | Roller Chain |
| Dimensions(LxWxH) | 1986 x 718 x 1050 mm |
| Seat Height | 798 mm |
| Ground Clearance | 156 mm |
| Fuel Tank Capacity | 9.7 Liters (Reserve 1.5 Liters) |
| Wheel Base | 1226 mm |
| Tire at Front | 2.75 – 18 (4 PR) |
| Tire at Back | 2.75 – 18 (6 PR) |
| Suspension at Front | Telescopic Fork 94 mm Travel |
| Suspension at Back | Swing Arm 84 mm Travel |
| Dry Weight | 96kg |
