Visit nearest UBL Ameen Islamic Branch / Islamic Window and fill out application form available in the branch and attach the required documentation and submit.
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1) UBL Ameen’s role in the transaction is limited to providing financing for acquire the E-Bike only.
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2) You shall be responsible for selecting the E-Bike to be financed.
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3) You shall be responsible for the overall condition of the E-Bike being financed. UBL Ameen will not be responsible for any defects detected in the E-Bike after you have accepted delivery and have signed the Delivery Acceptance Form.
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4) UBL Ameen will only finance a specified portion of the E-Bike price. Registration, Capital Value Tax, government taxes, challans, E-Challans, penalties, registration charges, tracker charges and any increase in Takaful Contribution or any other related expenses shall be paid by customer in accordance with financing Agreement.
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5) You will bear all external agency fees and charges in accordance with financing Agreement.
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6) You will put in all your contribution (customer share) before disbursement of the finance amount by UBL Ameen.
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7) You may subject to the Agreement, make an early purchase in full or in part of the outstanding Musharakah Units. Please do not pay cash to any employee or representative of UBL/UBL Ameen for any charges or services or for any other purpose. All payment must be made via crossed cheques drawn in favor of UBL Ameen.
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8) UBL Ameen reserves the right to approve or reject any financing application at its sole discretion. In the event of rejection, the reasons for such decision shall be duly recorded and communicated to the applicant in writing or through digital means, in accordance with applicable regulatory requirements.
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9) In case your cheque for Total Cash Outlay (TCO) described below is dishonored, UBL Ameen reserves the right to reject your application.
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10) You will be required to pay the following in accordance with financing Agreement:
a) First Year Takaful payment
b) Equity – Customer Share
The processing of your application will start when all documents are provided.
Click Here to view the Key Fact Sheet for Ameen E-Bike Financing.
Repayment:
a) Payment through automatic deduction from the UBL Ameen Account mentioned in Banking Details Section here under.
1) To deduct forthwith, as an initial one-off payment from the account an amount constituting the upfront payment for Equity-Customer share and 1st year Takaful Payment. This deduction shall take priority over any other deduction(s).
2) To deduct thereafter, every month regularly an amount equal to the TMP payable in such month in terms of my/our financing agreement and apply the same in discharge of my obligation to pay such TMP. This deduction shall take priority over any other deduction(s).
3) On my/our death to deduct any amount due from me/us under the financing agreement from the amount and/or any of my/our accounts held by you and apply the same in discharge of my/our obligation to UBL Ameen unless the entire amount payable by me/us under the Financing agreement has been liquidated.
I/we undertake that the repayment account shall not be closed, converted or changed without prior written consent of UBL Ameen.
OR
b) Payment through Cheque
1) I/we hereby undertake to forthwith as an initial one-off payment provided to UBL Ameen via a cheque payable to UBL with current date for an amount indicated by UBL Ameen which shall constitute the upfront payment for Equity-Customer share and full year Takaful Payment.
2) I/we hereby undertake to issue to UBL Ameen such number of postdated cheques as indicated by UBL Ameen and drawn in favor of UBL Ameen each for the amount of TMP as set out in the Financing Agreement.
OR
c) Payment by Direct Deposit in the UBL Ameen “Sundry Account”
1) To deposit in the sundry account an initial one-off payment constituting the upfront payment for Equity-Customer Share and 1st year Takaful Payment. This deposit takes priority over any other payments.
2) To deposit in the sundry account thereafter, every month regularly an amount equal to the TMP payable in such month in terms of my/our Financing Agreement and deposit the same in discharge of my obligation to pay such TMP.
Co-Applicant:
Where applicable, all Applicants and Co-Applicant(s) shall be jointly and severally liable for repayment of the financing facility and UBL Ameen may recover the entire outstanding balance amount from any one or more of them.
Pricing Mechanism:
The pricing mechanism for this financing will be in accordance with the State Bank of Pakistan’s SH&SFD Circular No. 04 of 2025, ensuring compliance with regulatory guidelines and maintaining transparency and fairness for customers.
e-CIB:
“The Electronic Credit Information Bureau of the State Bank of Pakistan requires all banks and financial institution to report all financing and advances, irrespective of the financing amount, to the State Bank. Any defaults or delays in making regular payments against financing deal can affect credit worthiness of the applicant and you may be unable to avail further financing from the banking system. Further in case of consumer financing, default history will be maintained for a certain period after adjustment of the default amount” for further information on e-CIB, you may visit following
website: www.sbp.org.kl/ecibhelpdesk
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1) Please do not make any cash payment with the application. The Bank will not be responsible for cash handed out to any person in connection with the application.
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2) Once the financing has been disbursed, Installment will be due on first day of every month.
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3) If you wish to settle your financing completely, please do so before 25th of the month.