Product Features
Processing Fee & Charges - As per Bank’s updated SOC
Financing Amount - Minimum PKR 100,000 up to Maximum PKR 3 million
Financing Tenure: Between 1 to 3 Years vehicles above 1000cc.
Between 1 to 5 Years vehicles under 1000cc
Down Payment: Lowest down payment (as low as 30%)
Co-Borrower, Insurance and Tracker Facility
- Pakistani National
- Experience:
- Salaried Permanent Employees: 6-month employment
- Age:
- Minimum 21 Years
- Maximum 60 (At the completion of the financing tenure)
- Debt Burden is capped at 40%
- Monthly Income:
- Self Employed/Businessman: Minimum average balance: Rs. 100,000 over last six months
- Salaried Permanent Employees: Minimum Rs. 50,000 per month net take home salary
- Satisfactory credit history of existing bank borrowings
- Financial ability to afford and repay finance
Q. When are the processing charges applied?
A. Processing Fee will be required to pay when the document/application is approved. 1000PKR will be required upfront.
Q. What is the current Pricing mechanism for Bike Finance?
A. “KIBOR”+ Margin the Pricing is revised after twelve months (12) from the date of contract.
Q. What is the minimum and maximum financing limit available for Bike Finance?
A. PKR 100,000 – PKR 3 million.
Q. Who can apply for Bike Finance facility?
A. Salaried individual, Self Employed Professional (SEP), Self Employed Businessman (SEB).
Q. What is the minimum and maximum Age Criteria for Bike Finance?
A. 21-65 years for SEB/SEP, 21-60 years for Salaried.
Q. Minimum Income Criteria for Bike Finance is?
A. Minimum net income required is Rs 50,000/-.
Q. What is the Minimum Customer’s contribution required of Bike price?
A. 30% of the bike price is the minimum customer’s contribution required.