Compare Financial Products
Select 2-4 products to compare side by side. See fees, rates, rewards and eligibility at a glance.
| Feature |
Meezan Bike Ijarah
|
Meezan Car Ijarah
|
|---|---|---|
| Loan maturity | — | — |
| Applicant Age | 20 years to 65 years of age at the time of maturity (Businessmen & Self-Employed Professionals); 21 years to 60 years (Salaried Individuals) | Minimum age limit of applicant should be 25 years; maximum age at maturity 60 years for salaried, 65 years for businessman / self-employed |
| Monthly Installments | — | — |
| Markup Rate(Fixed) | — | Fixed Profit Rates (Lien Based): 1 Year 7.25%, 2 Year 8.25%, 3 Year 8.50%, 4 Year 9.00%, 5 Year 9.25%, 6 Year 9.35%, 7 Year 9.50% |
| Financing limit | — | Maximum financing of up to 10 million as the net financing amount |
| Repayment tenure | Up to 2 years for Chinese / Pakistani bikes; Up to 3 years for Japanese bikes | 1 to 5 years agreed at the time of the contract |
| Life insurance coverage | — | — |
| Financed Amount | — | — |
| Security Deposit | Down Payment: Minimum 15% of cost of the vehicle and Maximum 50% of cost of the vehicle | Security deposit / Advance rental: Minimum 15% of the cost of vehicle and 25% of the cost of vehicle for Sport Utility Vehicle (SUV) for salaried professionals |
| Minimum monthly income (Salary, ) | PKR 40,000 | — |
| Eligibility | 40% of net monthly income (For Salaried, Self Employed-Person and Businessmen) | Net take home income in excess of 2 times the monthly rental (inclusive of takaful); all monthly repayments including proposed Ijarah rental not to exceed 40% of net income |
| One-time Processing Fee | Non-refundable processing fee of PKR 2,200 + FED | No processing charges. Documentation and security perfection charges are to be paid at actual by the applicant |
| Annual Charges | — | — |
| Limit enhancement fee | — | — |
| Late payment charges | — | — |
| Loan Category | — | — |
| Maximum Tenure | Up to 3 years | Maximum ijarah tenure: Upto 7 years |
| Tentative rate | — | — |
| Additional Benefits | — | — |
| Free Insurance & Processing Fee | — | — |
| Interest Rate | — | Fixed Profit Rates (Non Lien Based): 1 Year 12.98%, 2 Year 13.01%, 3 Year 12.99%, 4 Year 13.12%, 5 Year 13.12%, 6 Year 13.22%, 7 Year 13.29% |
| Loan Amount | — | — |
| Card/Cards | — | — |
| Borrrowing Amount | — | — |
| Educational Loan | — | — |
| Return Policy | — | — |
| Deferment Conditions | — | — |
| Flat rate | — | — |