Allied Bank Limited is committed to helping you find the right home financing plan for your needs. We understand that every borrower is different, and we have a variety of payment options to meet your individual needs.
Allied Bank Limited has formulated a number of financing solutions for its clients so that they can fulfill the dream of building or buying their own homes. In addition to the loan for the construction of houses, the Bank is also providing solutions to buy houses or apartments already built, buy land and build houses on it and renovate residential properties.
Allied Bank Home Loan Scheme Features and Benefits
1. Quick and easy processing
2. Financing up to PRs 40 million
3. Reimbursement tenure ranging from 3 years to 25 years
4. Loan Transfer Service with Low Margin Rates
5. Free life insurance
6. Solar system financing facility under renovation
7. Currently, this facility is offered in only eight cities, including Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, Gujranwala, Sialkot, and Multan.
Allied Bank Home Loan Eligibility Criteria
1. You are eligible for Allied Bank home financing if:
a) You are a Pakistani citizen
b) You are between 25 and 57 years old
2. In case of salaried individual
a) Minimum relationship of six (06) months with ABL and / or any other bank
b) Minimum net monthly salary of PRs 50,000 / –
3. In the case of self-employed / self-employed professional
a) Maintain a minimum relationship of one (01) year with ABL or a minimum relationship of two (02) years with any other bank.
b) The duration of the respective business / profession is a minimum of two (02) years in the case of a relationship with ABL or a minimum of three (03) years in the case of a relationship with any other bank.
c) Minimum net income of PRs 75,000 / – per month in case of ABL relationship or PRs 100,000 / – per month in case of any other bank relationship
Allied Bank Home Loan Detail
1. Purchases – Clients can purchase a home or apartment loan package to purchase an already built home or apartment
2. Construction: this is a basic loan for the construction of houses in which the client can obtain financing to start with the construction of a house on available land.
3. Purchase of land and construction: with this type of mortgage loan, the client can obtain financing both for the purchase of land and for construction.
4. Home Renovation – In case you just need financial support to renovate your existing house or apartment, you can choose this option
5. Loan Transfer – If you already have a home loan purchased from another bank, you can transfer it to Allied Bank with this service, at a lower margin rate
6. Solar Power System – If you are looking to install a solar power system in your home, you can get this loan at a discounted premium rate under a scheme introduced by the State Bank of Pakistan (SBP)
Allied Bank Home Loan Required Documents
The following basic documents are required to apply for Allied Home Finance:
1. Bank statement for the last six months (ABL / Any other bank, as the case may be)
2. Valid Copy of CNIC / Smart NIC
3. Admission Test
4. Completed and duly signed “application form”
Allied Bank Home Loan Calculator
Click on link to use calculator https://www.abl.com/personal-banking/consumer-finance/allied-home-finance/calculator/
This is an indicative calculation that does not include the amount of insurance; the final amount of the fee may differ.
How to Apply for Allied Bank Home Loan Scheme
To Apply to Allied Bank Home Loan Scheme 2021, please visit the nearest Allied bank branch to apply.
Click for branches detail https://www.abl.com/src/uploads/2021/03/List-of-Branches-March21.pdf
Allied Bank Home Loan Scheme Contact Information