Khyber Bank has started an exciting new motorcycle scheme designed to help people purchase a bike. This scheme offers an interest-free loan facility. This motorcycle scheme is available in Sindh and provides a Shariah-compliant loan. This scheme has increased the sales of motorcycles in the province. Read on to learn more. Below are some reasons to consider buying a bike using this scheme. Listed below are a few of the many benefits of buying a bike.
Interest-free loan facility
If you are looking for a motorcycle, the Khyber Bank has a motorcycle scheme that can help you acquire your dream vehicle. This interest-free loan scheme is available for people employed by the government or semi-government organizations and has a low monthly salary. This scheme is specifically designed for these employees, and it has an excellent worth in this sector. You can avail this interest-free loan facility by visiting a Khyber Bank branch and providing the details of your motorcycle.
You must have a permanent job with at least five years’ experience in the same bank for this scheme. The average monthly verifiable income of the borrower must be three times the proposed monthly installment. The monthly salary should be above 25,000 PKR or a life insurance policy of at least 3% of the monthly salary. Furthermore, it would help if you bought the equipment from a bank-approved vendor to avail of this loan facility.
Shariah-compliant
The government and semi-government employees of the region can now get a bike with the help of the Bank of Khyber’s motorcycle scheme. This finance facility is available in the Islamic mode under the RAAST HONDA MOTORCYCLE MURABAHA scheme. To avail of this finance facility, the government employees can visit a branch of Khyber Bank, where they can find details about the scheme and apply for it.
The Shariah-compliant Khyber Bank has partnered with Pirani Group of Companies, a leading manufacturer of Super Power Bikes. The partnership aims to provide affordable monthly payments for users to own their dream bikes. The two organizations signed an MoU in this regard. The MoU details the financial assistance available for the customers who want to buy a motorcycle. They are a Shariah-compliant lender of motorcycles.
Available in Sindh
If you are a government employee and would like to purchase a motorcycle, the Bank of Khyber is the right place for you. This bank follows the Islamic role in banking and offers this motorcycle finance scheme only to government employees. This financial institution is safe and has a good worth in the sector. However, it may be difficult to find the details of the motorcycle scheme. However, you can call the bank to get the details of the scheme.
The bank has launched this bike scheme to encourage its employees to buy a motorcycle and enjoy the freedom and the freedom it gives. This is a great opportunity for government employees to purchase a motorcycle and get the freedom to travel around. Khyber bank offers this motorcycle finance in different cities of Sindh. In Sindh, it offers the power bike, the Super Power Bike, the CB150F, and the Honda CB250.
Increase in sales of motorcycles
Chinese and Japanese manufacturers dominate the motorcycle industry in Pakistan. The banks deal only with well-documented companies and are unwilling to initiate schemes that benefit private companies. But, with the increasing number of financial institutions and private companies, the market for motorcycles has been growing. And as a result, the number of motorcycles sold by these manufacturers has increased by a significant amount.
According to the figures of the motorcyclists’ association, sales of the 0-50cc category have increased by 13.5%, from 20,016 to 22,451 in a single month. The 51-125cc category has increased by 0.2% from 33,790 to 34,085. The six51-1000cc category has experienced a decline of 7.9%, while the machines over 1000cc have increased by 0.3%.