Fuel price growth has been painful in the last year, prompting motorists to consider electric bikes as an option.
Meezan Bank, seeing an opportunity, has established an installment plan for electric motorcycles (e-motorcycles). The offer is intended to compete with those of other bike manufacturers and is available on all bikes, both petrol and electric.
The following are the benefits and conditions of the service:
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- Only Meezan Bank debit and credit cardholders are eligible.
- A two-year financing duration is possible.
- Downpayment: A minimum of 15% of the vehicle’s cost and a maximum of 50% of the bike’s cost.
- Low monthly installments of Rs. 7,461.
- A non-refundable processing fee of Rs. 1,800.
- Immediate transfer of ownership.
Other bike manufacturers, such as Atlas Honda, Yamaha, and Suzuki, have also introduced specific installment plans for their models. However, increased fuel and bike prices have hampered their sales in recent months.
E-bikes are steadily gaining popularity among Pakistanis, albeit with the realisation that petrol-powered motorcycles are still superior for longer excursions.
