Electric bikes are revolutionizing urban transportation, especially in bustling metropolises where commuting costs are high. With zero emissions and low maintenance, EV bikes offer an eco-friendly and cost-effective alternative to traditional petrol bikes.
Allied Bank’s Electric Bike Finance offers an affordable and eco-conscious financing solution designed to support your transition to electric transportation.
Key Features
- Green Financing: Promote sustainability with one of the lowest available markup rates.
- Flexible Repayment Options: Choose a repayment tenure ranging from 1 to 4 years.
- Financing Limit: Access up to Rs. 400,000 in loan amount.
- Personal Contribution: Minimum equity requirement of 30%.
- Markup Rate: 1-Year KIBOR + 1% or as per the prevailing Schedule of Charges (SOC).
- Transparency: No hidden charges or fees.
Eligibility Criteria
- Pakistani nationality.
- Minimum age: 21 years.
- Minimum banking relationship of 6 months with Allied Bank or 1 year with any other bank.
For Salaried Individuals
- Maximum age: 59 years.
- Must be employed on a permanent or direct contract basis.
- Minimum net monthly salary of Rs. 35,000.
- Salary must have been credited in the applicant’s account for at least 6 consecutive months.
For Self-Employed Individuals
- Maximum age: 64 years.
- At least 1 year of established business operations.
- Minimum net monthly income of Rs. 50,000.
Required Documents
- Proof of income.
- Bank statement for the past 6 months.
- Copy of CNIC, Smart NIC, or NICOP.
- Two recent passport-sized photographs.
- Duly completed and signed application form.
