With the objective of Providing financial support to young women for availing owned transportation giving them freedom of moving around & travelling, a new loan product with the name of ‘Scooty Loan’ has been introduced aiming to independent comfortable mobility for females to their workplaces, rendering new impetus to economic participation and self-sufficiency of women.

 

Scooty in Pakistan is becoming a great source of mobility for females. These easy to drive and lightweight vehicles are easing it for women to drive carefree. Considering the popularity of Scooty among Women, Scooty loan product provides opportunity to Women belonging to middle/low income segment to purchase their owned Scooty on easy repayment terms & conditions.

 

Product Type:

Term Finance (TF)

Target Audience:

Only Female Business Individuals, Salary persons, Self-employed & Micro Entrepreneurs.

Purpose of Loan:

To cater the transportation requirements of Women

Loan Amount:

Maximum amount up to Rs. 150,000/-

Loan Tenure:

12, 24 & 36 months

Equity:

Min. 15% with maximum capping of loan amount of Rs.150k

Repayment:

Equal Monthly Installment

 

 

Eligibility Criteria:

 

  • Only Women are eligible to avail this loan.
  • Applicant should be residing or doing business in the respective Tehsil or 20-Km whichever covers the more distance of the branch vicinity.
  • Applicant should hold a valid CNIC.
  • Applicant must be permanent employee of any Govt./ Semi Govt./ Companies and Registered Firms with employment tenure of 12 months with current employer.
  • Self-employed Businessman/professional (SEB / SEP) with at least 2-years of business experience.
  • Age limit is 55 years at the time of maturity of loan.
  • Applicant should not be in the negative professions list as per AMBL’s Credit Policy.
  • Applicant should not be defaulter of any financial institution.
  • Hold a valid Driving Licence.

Documentation:

Following documentation will be required from applicant:

  • Copy of CNIC
  • 1 Passport Size Photos
  • Copies of Latest Utility Bills (Not older than 3 months)
  • 1- Personal Guarantee (PG) of well reputed and credit worthy person
  • Copy of CNIC of guarantor
  • Business Proof/Salary Certificate/Salary Slip
  • 2- Security Cheques (Acknowledgement of Cheques will be provided to customer)

 

Security/Collateral:

 

  • 1- Personal Guarantee (PG) of the well reputed person of the vicinity and within the branch range.
  • Vehicle will be registered in the sole name of the bank.