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  • Eco-friendly financing with lowest conceivable mark-up rate

  • Flexible repayment period from 1 to 4 years

  • Loan amount up to Rs. 400,000/-

  • Personal equity – minimum 30%

  • No hidden costs

You are eligible to apply for Electric Bike Finance from Allied Bank if:

  • You are a Pakistani National
  • You are minimum 21 years old
  • You have minimum 6 months of account relationship with ABL or 1 year with any other bank

In case of Salaried Individual

  • You are maximum 59 years old
  • You are permanent or direct contract employee
  • Six (6) salaries have credited in your salary account during last 6 months
  • You have minimum net monthly salary of Rs. 35,000/-

In case of Self-employed Individual

  • You are maximum 64 years old
  • You are in business for at least 1 years
  • You have minimum net monthly income of Rs. 50,000/-

The following documents are required to apply for Allied Electric Bike Finance:

  • Proof of income

  • Last 6 months’ bank statement

  • Copy of CNIC / Smart NIC / NICOP

  • 2 recent passport size photographs

  • Completed and signed application form

Pricing of Allied Electric Bike Finance

Pricing 1YK + 1%

Q: Who can apply for Allied Electric Bike Finance?

Resident Pakistani salaried individuals (ages 21–59) and self-employed individuals (ages 21–64) are eligible to apply.

Q: What is the minimum monthly income required?

  • Rs. 35,000/- for salaried individuals

  • Rs. 50,000/- for self-employed individuals

Q: In which cities is the facility available?

Currently offered in:

Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, and Multan

Q: Which electric bikes can be financed?

Brand new locally assembled/manufactured electric bikes that are registered with the excise/motor vehicle department.

Q: What is the maximum loan amount?

Up to PKR 400,000/-, subject to eligibility criteria.

Q: What is the markup rate?

1-Year KIBOR + 1% or as per prevailing Schedule of Charges (SOC).

Q: Is the markup rate fixed or variable?

Currently, it’s a floating/variable markup rate, repriced annually based on KIBOR. The bank’s spread remains fixed.

Q: What is the loan tenure?

Repayment period ranges from 1 to 4 years.

Q: How do I repay the loan?

Via equal monthly instalments (EMIs) as per your repayment schedule.

Q: Which repayment methods are available?

Monthly instalments are auto-deducted from your ABL account under Direct Debit Authority.

Q: What’s the minimum balance to maintain in the account?

You must maintain a balance equal to:

Monthly instalment amount + any applicable charges.

Q: Can I make balloon payments?

Yes, up to 2 balloon payments are allowed after 1 year. Each payment must be at least six monthly instalments, with a 6-month gap between them.

Q: Can I repay the loan early?

Yes, full prepayment is allowed before maturity.

Q: What are the prepayment charges?

Charges will be applied as per the prevailing SOC.

Q: Will I pay the insurance premium directly?

  • 1st year’s premium: Paid upfront with down payment to ABL

  • Remaining premiums: Paid via instalments with EMIs

Q: How is the bike insured?

You choose an insurance provider from ABL’s approved panel. Insurance is arranged by ABL at corporate rates.

Q: What secures the loan?

  • Bike will be comprehensively insured

  • Hypothecation in favour of ABL

  • Lien marked with Excise & Taxation Department

Q: What payments are needed after Offer Letter acceptance?

  • Equity / Down payment

  • Processing fee

  • 1st year’s insurance premium

Q: What is the minimum down payment?

At least 30% of the bike’s ex-factory price.

Q: Will I be charged Processing Fee if my application is rejected?

No. It’s charged only after loan approval and Offer Letter signing.

Q: Will ABL finance above the ex-factory price?

No. Only the listed/ex-factory price is financed as per regulatory requirements.

Q: Will the Bank finance accessories?

No. Only the ex-factory price of the electric bike is financed.

Q: How can I apply?

Visit your nearest ABL branch or call the ABL Helpline: 042-111-225-225.

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