Meezan Bank Car Lease Scheme 2023 with Free Health Coverage
Meezan Bank Car Ijara Pakistan’s first riba free car financing. Avail this limited period car financing offer and get the following benefits. Free health card up to Rs. 200,000 per annum. In case of death during the financial period, the vehicle will be gifted to the legal heirs. The withholding tax will be borne by the bank. No pre-processing fee. No extra payment on initial settlement after 12 months. Fixed and variable rental options. For detailed terms and conditions, please visit the nearest branch or official website www.meezanbank.com.
Only the lessee (customer) is eligible for health card and death coverage. Car lease customers will be provided with a health card and it is valid till the age of 60 years. Health card limit will be Rs. 200,000/- per annum for the entire lease period and applicable only for hospitalization. Inpatient hospital room limit entitlement will be Rs 9,000.
Meezan Bank Car Lease Scheme 2023 Eligibility:
Customers above 55 years of age will not be entitled to death coverage at the time of vehicle delivery. In case of death of customer. The settlement amount of car lease will be up to Rs. 7.5 million or the termination value whichever is lower. No pre-processing fee will be charged to users at the time of case login. However, Rs.5,000/- will be charged to the customer at the time of distribution.
Meezan Bank Car Lease Scheme 2023 Free Health Coverage with Conditions:
12 There will be no additional payment for early termination after receipt of lease rental. The variable rental option will be offered where the NFA (Net Financing Amount) i.e. the value of the vehicle less the upfront rental, exceeds Rs. 8 million. The scheme is valid till 31 December 2022. These terms and conditions do not form part of the underlying lease agreement.
Meezan Bike Lease for Salaried Individual
Meezan Bank and Pak Suzuki have introduced a new offer Meezan Bike Ijara Scheme 2023 for individuals (for salaried individuals) on monthly rental payments. Two free periodic maintenance and free registration book.
Designed under the supervision of Meezan Bank Shariah Supervisory Board, Bike Ijara is unique from the bike leasing facilities provided by other banks.
Meezan Bank Bike Leasing Offer 2023:
Meezan Bank Bike Ijara is Pakistan’s first interest free bike financing based on the Islamic financing mode of Ijara (Islamic Leasing). Meezan Bank’s bike lease is a bike rental agreement, whereby the bank buys the bike and rents it to the customer for a period of 1 to 3 years, as agreed at the time of the agreement. At the end of the lease period, the vehicle will be gifted to the customer.
Documents required for bike rental:
List of Documents for Salaried Persons:
- Copy of applicant’s CNIC
- A recent photograph of the applicant
. Financing announcement
. Last 6 months bank statement (original, stamped and attested)
- Last one month salary slip (stamped)1confirmed)
- Employment letter (with tenure and salary)
- Signature Verification Form
- Copy of applicable valid driving license
List of documents for traders
Copy of applicant’s CNIC
A recent photograph of the applicant
Financing announcement
Last 12 months bank statement (original/stamped and attested)
2 years of business proof.
Bank Ownership Letter/Partnership Deed c«c.
Signature Verification Form
Police officer of valid driving license as applicable
Details of Meezan Bank Bike Lease:
Bike Ijara is designed to make buying your bike easy and completely hassle-free with a fully comprehensive Takaful cover. Meezan Bike Leasing is a Shariah compliant solution with unmatched levels of customer service. Offering highly competitive rates and flexible payment plans. This product is ideal for those looking for bike financing while avoiding interest-based transactions.
Key Features of Bike Rental
Free registration
Two periodic maintenance
Low monthly rent
Rent paid after delivery, not in advance.
Fastest processing and delivery
Minimum security deposit up to 10%.
OWNER VERSUS USER RIGHTS AND RESPONSIBILITIES
An Islamic lease is an asset-based contract, meaning that the lessee must own the asset during the contract period. Under Islamic Shari’ah, all rights and responsibilities related to ownership should rest with the owner while all rights and responsibilities related to use should rest with the user. A conventional lease agreement does not differentiate between the nature of these obligations and places all obligations on the asset user, which is contrary to Islamic Shari’a.
Under Ijara, all risks of ownership are with the bank while all risks of use are with the lessee, thus making the lessee the true owner of the asset and the contractual revenue accruing to the bank. (Halal) makes.
If the leased vehicle is stolen or totally destroyed, the traditional leasing company continues to collect the lease rental until the insurance claim is settled. Under the Islamic system, consideration is given for the use of the leased asset, and if the asset is stolen or destroyed, the concept of lease becomes void. Thus, in the above cases, Meezan Bank does not charge lease rental.
