Savings Scheme facility is being offered only to all operative account holders of Ghar Asaan Scheme Flex (GAS – Flexi), which is fixed rate mortgage facilities i.e. Ghar Pakistan Scheme (GPS) or Ghar Pakistan Plus Scheme (GPS Plus).
Bachat Scheme for Existing HBFC Customers of GAS Flexi Benefits
| GPS for Low Income Group | GPS Plus for Middle Income Group | |
| Types of Financing | The facility will be available to following existing customers of GAS – Flexi;Purchase (including Fateh Homes project)ConstructionBalance Transfer FacilityRenovation | |
| Facility Amount | Maximum up to PKR 4,500,000/-(amount disbursed under GAS – Flexi) | Maximum up to PKR 8,800,000/-(amount disbursed under GAS – Flexi) |
| Tenure | Tenure remaining under existing GAS – Flexi | Tenure remaining under existing GAS – Flexi |
| Mark-up Rate | 12% per annum | 13% per annum |
| Collateral Specification | House: Maximum plot size upto 300 sq. yds or 10 marlasFlat: Maximum covered area upto 1400 sq. ft.ORMaximum appraised value* (i.e. market value) of the property should not exceed PKR 5.00 Million. | Maximum appraised value* (i.e. market value) of the property should not exceed PKR 11.00 Million |
| * Appraised value assessed at the time of financing under GAS – Flexi will be considered. | ||
| Insurance Coverage | Life InsuranceProperty Insurance |
Bachat Scheme for Existing HBFC Customers of GAS Flexi Eligibility and Required Documents
1. Income Requirement:
· Individual’s net disposable monthly income up to PKR 100,000/-
2. Availability:
· After the 100% disbursement under GAS-Flexi scheme
3. Facility Amount to be Transferred:
· Principal Outstanding
4. Replacement Behavior:
· All over dues has been cleared and no write off outstanding in e-CIB at the time of availing this facility
5. Proscribed Checking:
· This facility will not be allowed against the account if the respective applicant / co-applicant (s) / guarantor(s) falls in the proscribed list i.e. OFAC, UNSC, 4th Scheduler and NAB.
6. Others:
· The loans which are already matured (i.e. expired) under GAS – Flexi will not be eligible to avail the said facility.
Bachat Scheme for Existing HBFC Customers of GAS Flexi Schedule of Charges
| GPS for Low Income Group | GPS Plus for Middle Income Group | ||
| Processing Fees | PKR. 5,000 | PKR. 5,000 | |
| Legal Documentation Charges | At actual | At actual | |
| Property and Life Insurance Premium | At actualInsurance/Takaful Companies on HBFC’s Approved Panel | At actualInsurance/Takaful Companies on HBFC’s Approved Panel | |
| Penalty | PKR. 1,000 on each overdue monthly payment | PKR. 1,000 on each overdue monthly payment | |
How to Apply for Bachat Scheme for Existing HBFC Customers of GAS Flexi
The interested applicant should visit the nearest HBFC branch and fulfill the application form along with required documents.
Housing Building Finance Company Limited Helpline Numbers
Address: 3rd floor, Finance & Trade Centre, Shahrah-e-Faisal, Karachi, Pakistan
Phone: (+92) 21 35641711-15
Telephone: 0800-42325
Phone: +92-21-35630954
Email: info@hbfc.com.pk
Location: View Location