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A lease facility to Salaried Individuals for the purchase of locally manufactured / assembled / imported motorcycles for their personal use.
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Employees of Govt. departments including semi-Govt, autonomous bodies, allied corporations, Private Employees, Personnel of Armed Forces, employees of corporate clients etc.
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Minimum: Rs. 20,000/- Maximum: 200,000/-
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Minimum: 01 Year Maximum: 03 Years
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1 year
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Avg. 1 Year ask side KIBOR + 450 bps with floor of 18% p.a.
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2 Years
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Avg. 2 Years ask side KIBOR + 450 bps with floor of 18% p.a.
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3 Years
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Avg. 3 Years ask side KIBOR + 450 bps with floor of 18% p.a.
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10% of Motorcycle Price
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Equity + Processing Charges + First Year Insurance + First Monthly Instalments
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Processing Charges
= Rs. 1000/-
E-CIB Charges
= Rs.125/- per case Upto Rs. 100,000/-
Rs.200/- per case over Rs. 100,000/-
Guarantor e-CIB Charges
= Rs.50/- per report.
Documentation Charges
= Actual
Insurance Rate
= 2.25% from East West Company (life + Motorcycle)
Registration Charges
= Actual. Payable directly by the customer
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NIL
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The monthly payments of all loans/lease/limits from all FIs/banks should not exceed 50% of Take Home Salary / Net Income.
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3%p.a additional mark-up on the instalment per day for the days the amount remains overdue. Maximum Rs. 500/-
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ELIGIBILITY CRITERIA FOR GOVT. EMPLOYEES
- Age between 25 and 58 Years or retirement date; whichever is earlier (58 Years at maturity of facility)
- Minimum Take Home Salary is Rs. 10,000/-
- Permanent Govt. Employee with Minimum 03 Years of job Experience.
- Contractual Employees are also eligible but loan should be adjusted before 06-months of the expiry of contract. Moreover, departmental undertaking / one Personal Guarantee of grade 17 & above shall be obtained for contractual employees.
- Maintaining Salary Account with BOP
- Have valid Driving License
- Residing or working in launching cities.
ELIGIBILITY CRITERIA FOR PRIVATE EMPLOYEES
- Age between 25 and 58 Years or retirement date; whichever is earlier (58 Years at maturity of facility)
- Minimum Take Home Salary is Rs. 15,000/-
- Permanent Pvt. Employee with Minimum 03 Years of job Experience.
- Maintaining Salary Account with BOP
- Have valid Driving License
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GOVT. EMPLOYEES MAINTAINING SALARY ACCOUNT WITH BOP
- Application Form
- CNIC copy
- Latest Salary Slip
- Employer Certificate
PRIVATE EMPLOYEES MAINTAINING SALARY ACCOUNT WITH BOP
- Application Form
- CNIC copy
- Latest Salary Slip / Employer Certificate
- Bank Statement for last 03 months
- Latest Copy of utility bills (Electricity & phone)
Income Tax Return OR Non-Tax Payees Form, if applicant is a non-tax payer (as per specimen provided) - but One Personal Guarantee required for Non-Tax Payer (one Personal Guarantee of senior grade but not less than grade -16 shall be obtained).
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- Motorcycle shall be registered in the name of BOP
- Comprehensive Insurance Plan including Motorcycle insurance & Life Insurance of borrower.
Moreover, the branch shall retain spare key of Motorcycle, copy of Registration Book/certificate & original file containing invoice & other documents of Motorcycle
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