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Home Buyers Financing Scheme | How to get loan from bank al habib

Bank Al Habib offers Home Buyers Finance Scheme which lead to your dream. Bank Al Habib believe that home is a place where every person heart and mind are at peace. Additionally, Bank AL Habib also keeping its long and recognized history for their customer along with oriented products and services.

This financing scheme is offered to individuals who want to buy already built residential property (i.e. apartment or house).

Criteria of Financing

  • Availability of financing is the range from PKR 300,000 up-to PKR 50 million or up to 75-85% of the evaluated value of a built up house, apartment or land.
  • The period of financing is the range from one (1) to twenty five (25) years.
  • The financing will be based upon verified document which net income of the applicant to establish repayment capacity.
  • Requirement of the minimum income for primary debtor is PKR 60,000 and co-debtor is PKR 30,000.
  • Availability option for balloon payments. The balloon payment fees shall be applied on the basis of applicable Schedule of Charges of the given Bank.
  • Tenure of financing will be based on repayment in equal monthly installments.

Product Features

  • Financing Tenure: 1-25 years
  • Repayment will be based on equal installation of monthly
  • Competitive and low mark-up rates
  • No charges for balloon payment and early settlement
  • Insurance of free life
  • Availability of Co-Applicant option (i.e. Father, Spouse, Son and Mother)

Eligibility Criteria

  • Nationality: Must be Pakistani National.
  • Relation with Bank: Relation with any bank at least 1 year.
  • Age Limit: At least 25 Years and up to 60 years for employees. Similarly, sixty five 65 years for those who have self-based employed professional and Self Employed Business men at financing maturity.
  • Business/ Employment Contract: At least two year experience in salaried field with salary slip and two year for self-employed business.
  • Lowest Income: Salaried person have at least Sixty thousand only (Rs.60, 000/-) per month take home and SEP/SEB have at least One Hundred Thousand (Rs.100, 000/-) per month.
  • Credit History: Having satisfactory credit history
  • Co-borrower Income: At least thirty thousand only (30,000) net income on monthly basis which take home and may be added for income banging and property ownership purposes.

Required Documents:

·         Required Documents for Salaried Individuals:

>  Application Form of Bank’s prescribed

>  Have valid Computerized National Identity Card (CNIC)

>  Have three (3) recent passport size photographs

>  Having of latest salary slip and letter of employment with joining date

>  Having of last three months’ salary slips

>  Statement of Bank at least one (1) with reflection of salary credits

·         Required Documents for Businessmen/ Self Employed Professional:

>  Application Form of Bank’s prescribed

>  Have valid Computerized National Identity Card (CNIC)

>  Have three (3) recent passport size photographs

>  Business proof with acceptable documents

>  Statement of Bank at least one (1) with account maintaining certificate

Insurance of Property:

·         At customer cost, the coverage of property insurance.

Applicable Financing Rate:

·         For Salaried individuals the financing rate = 1 Year KIBOR + 3% p.a

·         For other than salaried individuals the financing rate = 1 Year KIBOR + 3.5% p.a

How to Apply for Bank Al habib Home Buyers Financing Scheme

·         Visit to your nearest Bank Al Habib Branch and fulfill the application with required documents as mentioned above.

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