Mera Ghar Mera Ashiana

1

Eligibility Criteria

·         First time homeowners, citizens of Pakistan holding CNICs.

·         Not owning any housing unit in their name

2

Scope

·         Purchase of house / flat

·         Construction of house on already owned plot

·         Purchase of plot and construction of house

3

Size of Housing Unit

·        House of up to 5 Marla

·        Flat / Apartment of up to 1,360 sq. ft. area

4

Maximum Loan Size

·         T1 – Up to PKR 2.00 Million

·         T2 = Above PKR 2.00 Million and up to PKR 3.50 Million

5

Maximum Loan Tenor

·         20 year (subsidy for 10 years)

6

Maximum Age

At the time of maturity of finance, applicant’s age must not be more than:

·         60 years for salaried individual

·         70 years for businessman and self-employed professional.

7

Debt Burden

·         Total monthly repayment installments not to exceed 40% of the net income (taking into account other financing facilities availed from different banks/DFIs)

8

Length of Service/Business

·         Min. 2 years in current employment or 3 years of continuous employment with permanent status

·         Min. 3 years in current business

6

Customer / end user fixed pricing

·         Tier 1: 5%

·         Tier 2: 8%

7

Banking Charges

·         No processing cost

·         No pre-payment penalty

8

Other Charges

·         Appraisal charges – At actual

·         Legal opinion charges – At actual

·         Income estimation – At actual

9

Loan to value (LTV)

·         90:10 (90% loan and 10% equity)

10

Other general eligibility criteria

All other general eligibility criteria would remain the same as per segment of the applicant (i.e. salaried, businessman, self-employed professional, foreign remittance and persons with disability)