Faysal Bank is accepting applications for Faysal Tabeer which is their name for Mera Pakistan Mera Ghar Loan being provided for the construction and purchase of newly constructed low-cost housing under the Naya Pakistan Housing Programme (NPHP).
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Under the Mera Pakistan Mera Ghar scheme, the government is providing loan of Rs. 300,000 each for the first 100,000 housing units that are constructed while also giving citizens an opportunity to avail loan of up to Rs. 5 million (50 lakhs) for the purchase of these newly constructed affordable housed / apartments.
Faysal Tabeer (Mera Pakistan Mera Ghar) offers convenient and affordable option to fulfill your residential requirements. Now you can buy a house / apartment or opt for construction finance in a complete Shariah compliant way using Diminishing Musharakah mode of financing.
Faysal Bank – Mera Pakistan Mera Ghar Loan (Faysal Tabeer) Information
|Tier||Size of Housing Unit||Maximum Price of Housing Unit (PKR)||Maximum Financing (PKR)||Customer Pricing|
|Tier 1 (T1) (NAPHDA Projects)||Housing Units/apartments of up to 125 square yards (up to 5 Marla) with covered area of up to 850 square feet. (NAPHDA)||3.5 Million||2.7 Million||5% for first 5 years & 7% for next 5 yearsFor period exceeding 10 years = 1 year KIBOR + 2.5%|
|Tier 2 (T2)(Non-NAPHDA Projects)||Housing Units/apartments of up to 125 square yards (5 Marla) with covered area of up to 850 square feet.||3.5 Million||3.0 Million||5% for first 5 years & 7% for next 5 yearsFor period exceeding 10 years = 1 year KIBOR + 4%|
|Tier 3 (T3)(Non-NAPHDA Projects)||Housing Units of more than 125 square yards up to 250 square yards (10 Marla) or apartments with covered area from more than 850 square feet to 1,100 square feet.||6.0 Million||5.0 Million||7% for first 5 years & 9% for next 5 yearsFor period exceeding 10 years = 1 year KIBOR + 4%|
*FINANCING TENURE: UP TO 20 YEARS
- All men/women holding CNIC.
- First time home owner.
- One Individual can have subsidized home finance facility under this scheme only once.
- Only for construction & first purchase of newly constructed affordable housing units.
Faysal Bank Mera Pakistan Mera Ghar (Faysal Tabeer) – Security Requirements
As per banks’ credit policy and prudential regulations for housing finance, the housing unit financed will be mortgaged in favor of financing bank.
|Document||Original or Copy||Self Employed||Salaried|
|Product Disclosure Sheet||Original||Yes||Yes|
|Valid Computerized National Identity Card (CNIC) (of both applicant and Co-partner, if applicable||Copy||Yes||Yes|
|2 passport size color photographs each for applicant and co-partner (if applicable)||Original||Yes||Yes|
|6 month Bank Statement (if applicable)||Original||Yes||Yes|
|Facility Application form (FAF) including CF undertaking||Original||Yes||Yes|
|Undertaking for first time homeowner||Original||Yes||Yes|
|Title Document of the property to be mortgaged (if applicable)||Copy||Yes||Yes|
|Bank Statement of 1 year (if available) (for businessman only)||Original||Yes||Not Required|
|NTN or any other business proof document (if available)||Original/Copy||Yes||Not Required|
|Current Salary Slip or Employer letter/ Salary Certificate (salary breakup and deductions to be clearly mentioned). Maximum of 60 days old salary slip may be accepted.Original salary slip/e-slip does not require stamp or sign||Original/Copy||Not Required||Yes|
|Professional Degree & Or valid Membership of applicable Professional body||Copy||Yes||Not Required|
You can find more information about Mera Pakistan Mera Ghar by clicking the post below: