Easy Home is a completely interest (Riba) free solution to your home financing needs.

Meezan Bank is Pakistan’s first and largest Islamic bank, and it offers a range of Shariah-compliant products and services, including loan schemes without interest. These loan schemes are based on Islamic principles and do not involve the payment of interest, which is prohibited in Islam.

Some of the loan schemes without interest that Meezan Bank offers include:

Car Ijarah: 

This is a car financing product that is based on the Islamic financing mode of Ijarah (leasing). Under this scheme, Meezan Bank purchases the car on your behalf and leases it to you for a specified period of time. At the end of the lease period, you have the option to purchase the car at a pre-agreed price.

Easy Home: 

This is an Islamic house financing scheme that is based on the Diminishing Musharakah model. Under this scheme, you and Meezan Bank jointly own the property, and your share in the ownership increases over time as you make payments. At the end of the financing period, you will own the property outright.

Bike Ijarah: 

This is a motorcycle financing product that is based on the Islamic financing mode of Ijarah (leasing). Under this scheme, Meezan Bank purchases the motorcycle on your behalf and leases it to you for a specified period of time. At the end of the lease period, you have the option to purchase the motorcycle at a pre-agreed price.

To be eligible for a loan scheme without interest from Meezan Bank, you must meet the following criteria:

  • You must be a Pakistani citizen.
  • You must have a valid CNIC.
  • You must have a regular source of income.
  • You must have a good credit history.

The interest-free loan schemes offered by Meezan Bank are a great option for those who want to avoid paying interest on their loans. These schemes are also a good option for those who want to comply with Islamic principles.

If you are interested in applying for a loan scheme without interest from Meezan Bank, you can visit their website or contact their customer service department.

Here are some additional details about the interest-free loan schemes offered by Meezan Bank:

  • The maximum loan amount that you can borrow under these schemes will vary depending on your income and credit history.
  • The repayment period for these loans will also vary depending on the amount of the loan and your repayment capacity.
  • The interest rate on these loans is zero, so you will only have to repay the principal amount.
  • These loans are available to both individuals and businesses.

If you are considering applying for an interest-free loan from Meezan Bank, I recommend that you speak to a financial advisor to discuss your options. They can help you determine if one of these schemes is right for you and can help you with the application process.

FAQs:

What are the benefits of taking out a loan scheme without interest from Meezan Bank?

There are several benefits to taking out a loan scheme without interest from Meezan Bank. First, you will not have to pay any interest on the loan, which can save you a significant amount of money in the long run. Second, these loans are Shariah-compliant, so they are a good option for those who want to comply with Islamic principles. Third, these loans are available to both individuals and businesses, so you can use them to finance a variety of projects.

What are the eligibility criteria for a loan scheme without interest from Meezan Bank?

To be eligible for a loan scheme without interest from Meezan Bank, you must meet the following criteria:
1. You must be a Pakistani citizen.
2. You must have a valid CNIC.
3. You must have a regular source of income.
4. You must have a good credit history.

What is the maximum loan amount that I can borrow under a loan scheme without interest from Meezan Bank?

The maximum loan amount that you can borrow under a loan scheme without interest from Meezan Bank will vary depending on your income and credit history. However, the bank typically offers loans of up to PKR 10 million.

What is the repayment period for a loan scheme without interest from Meezan Bank?

The repayment period for a loan scheme without interest from Meezan Bank will also vary depending on the amount of the loan and your repayment capacity. However, the bank typically offers repayment periods of up to 10 years.

How do I apply for a loan scheme without interest from Meezan Bank?

You can apply for a loan scheme without interest from Meezan Bank by visiting their website or by contacting their customer service department. You will need to provide some basic information, such as your name, contact information, and income. Once you have applied, the bank will review your application and contact you if you are approved.