Easy Installment Application
Apply online in minutes for home appliances with zero compound markup, fixed upfront pricing, and quick doorstep physical verification across Punjab.
Initializing Secure Installment Engine...
Prefer Physical Submission at Our Outlet?
Download and print the blank Installment Agreement Form. Fill it manually, attach the required CNIC copies & utility bills, and submit directly at our Raza Electronics Main Outlet.
Shariah-Compliant Bai Muajjal (Installment Trade)
Raza Electronics operates its installment facility strictly under the Islamic commercial principles of Bai Muajjal (Deferred Payment Sale) and Murabaha. Purchasing electronics on installment is completely Halal provided basic Shariah conditions are fulfilled:
- Fixed Sale Price: The total installment price is agreed upon and fixed at the time of contract execution. No interest (Riba) or hidden finance charges are added.
- No Late Payment Compound Interest: In case of delayed monthly payments, no late fee percentage or compounded interest is charged, ensuring zero interest transaction.
- Direct Product Ownership: Ownership and risk of the appliance pass to the buyer upon handover according to Islamic commercial law.
"Buy & Sale on installment with an agreed markup is permissible in Shariah, provided the final price is fixed upfront and no additional late payment penalty is charged as interest."
Mandatory Documentation Checklist
Applicant Documents
- Valid CNIC Front & Back Copy
- Recent Salary Slip / Proof of Income
- 1x Passport Size Photograph
Guarantor 1 Documents
- Valid CNIC Copy
- Active Contact & Workplace Details
- Must be a blood relative or close acquaintance
Guarantor 2 Documents
- Valid CNIC Copy
- Active Phone & Residential Address
- Distinct individual from Guarantor 1
Address & Security
- Recent Electricity / Utility Bill copy
- Bank Security Cheque by Applicant
Terms & Conditions & Legal Guarantor Liabilities
1. Joint & Several Liability of Guarantors (کفالت و ضامنی)
Both Guarantors (Guarantor 1 & Guarantor 2) act as legal sureties (ضامن). If the Primary Applicant fails to pay monthly installments or defaults on EMI schedules, Guarantors assume full financial responsibility. Raza Electronics reserves the legal right to collect all outstanding balances directly from either Guarantor.
2. Recovery Policy for Defaulted Accounts & Repossession
In the event of 2 consecutive installment defaults without prior written approval from store verifiers, Raza Electronics verification officers have full legal authorization to inspect the installation premises and initiate repossession under the signed security agreement.
3. Security Cheque & Legal Remedies
The Security Bank Cheque provided at the time of delivery remains held in safe escrow until all installment payments are completed. In case of fraudulent default, legal proceedings under Section 489-F of the Pakistan Penal Code (PPC) and civil recovery suits will be instituted.
4. Physical Inspection & Verification Rights
Submission of this application authorizes Raza Electronics verification team to conduct physical home/workplace visits, verify utility bill records, and perform credit reference checks before final approval.