Eligibility Requirements:
- Citizenship: Pakistani National (Resident or Non-Resident)
- Age: 25 to 65 years for primary applicants, 21 to 70 years for co-applicants without income clubbing
- Customer/Applicant: Single & Co-applicants allowed; co-applicant must be an immediate family member
- Income: Minimum gross income of PKR 50,000/month for salaried individuals, PKR 100,000/month for business persons
- Employment Tenure: 2 years in the same industry for salaried individuals; 3 years in the current business for self-employed
Meeza Easy Loan application steps:
- Submit a filled and signed application form to Meezan Bank.
- Attach required documents (ID copies, income proof, etc.)
- Await residential/office address verification by Meezan Bank.
- Income and credit assessment conducted.
- Legal opinion and property valuation obtained.
- Receive conditional offer letter upon meeting credit requirements.
- Open an account at Meezan Bank.
- Sign the Islamic House Finance Agreement and complete legal formalities.
- Transfer property ownership in a seamless transaction.
Frequently Asked Questions:
How long does it take to get approved for a Meezan Bank loan?
Approval times vary; typically, it can take several weeks due to thorough compliance and verification checks.
Is it required to explain why credit is being used?
No, explanation is not required as the primary concern is the Shariah-compliance of the transaction.
Do I need to have a good credit score to be approved for Meezan Bank?
Yes, a good credit score helps but is not the sole criterion. Meezan Bank evaluates overall financial stability.
Can I apply for a loan if I am self-employed?
Absolutely! Self-employed professionals and business persons are welcomed with criteria suited specifically for them.