Who doesn't need the advantage of having their own home?

It is the fantasy of the vast majority of us. Residing in a leased house might become baffling and irritating. Protection and solace are normally missing in leased spaces and gracious… remember the out-of-this-world utility costs. A spot you can call home is for sure a gift.

Notwithstanding, building a home in the present time can be undeniably challenging because of the rising expense of unrefined substances, work, and local charges. Before getting an advance for the home you precisely have any familiarity with the plot size change. When you know the specific size of your territory then it is simple for you to get a credit with a legitimate arrangement. Fortunately, a few banks are giving home financing to Pakistani individuals.

You should simply pay a specific measure of cash consistently to the bank. This makes the entire development process simpler and more down to earth. An individual having a place with the working class and upper-working class can partake in the advantages of their own special home, all gratitude to home financing.

We have framed an exceptionally valuable and intensive correlation among various banks so you can perceive how the entire credit thing functions.

Prior to getting going with the article, we might want to feature that the expenses and Loan costs referenced in the substance are for Islamabad. The loan costs, terms, and conditions might contrast in different urban areas.

Likewise, these figures are connected with a normal 5-marla house in Islamabad. The expense of development is taken as Rs. 26 lac, and the recompense time frame is 15 years.

You can change the expense of development, level of p, ay, and restitution period as indicated by your inclination. The essential target of this article is to teach individuals about the loan costs, handling charges, and fundamental necessities of each bank.

If you have any desire to be aware of the breakdown of development expenses of a 5-marla house, then, at that point, do look the at cost of building 5 marla house where we have portrayed every one of the expenses relativity the dark design of a 5 marla house available to be purchase numerous development organizations give great development administrations at a reasonable cost.

APR represents its yearly rate. It is the yearly loan fee that the individual needs to pay the bank. Furthermore, the repayable sum is the aggregate sum (chief sum and premium sum) that the individual needs to take care of to the bank.

List of Banks Providing Home Loans in Pakistan

Bank Name	Tenure
1. Alfalah Home Finance	3 years to 25 years.
2. Habib Bank Limited	5 years to 20 years.
3. Muslim Commercial Bank	Maximum loan tenure is 25 years
4. Askari Bank Limited	3 years to 25 years.
5. United Bank Limited	3 years – 20 years
6. Bank Al Habib	1 year to 25 years.
7. JS Bank	1 year to 20 years.
8. Meezan Bank	3 years to 25 years.
9. Standard Chartered Bank	1 year 5 years
10. Summit Bank	1 year to 20 years
11. Bank Islami	2 years to 25 years.
12. Bank of Punjab	3 years to 25 years.
13. Al Baraka Bank	2 years to 25 years.
14. MCB Islamic Bank Ltd	1 year to 20 years.
15. National Bank of Pakistan	3 years to 20 years.
16. Faysal Bank	1 year to 20 years
17. Dubai Islamic Bank	1 year to 20 years.
18. Allied Bank Limited	3 years to 25 years
19. Khushhali Microfinance Bank	1 year to 20 years.
20. Silk bank	1 year to 5 years

 

1. Bank Alfalah Bank Providing Home Loans in Pakistan

Alfalah Home Finance is giving home loans based on simple terms and conditions. You can apply for a credit sum beginning from Rs2 million to Rs. 50 million, payable in 36 to 240 monthly scheduled payments.

Requirements:

The minimum salary requirement for the filer is Rs. 70,000, and the age limit is 23-60 years. Documents required for loans include CNIC, salary slips, 12-month bastatementsent, and two years of employment under the current employer.

Website: Bank Alfalah

 2. HBL Bank Providing Home Loans in Pakistan

Through ‘HBL Home Loan,’ you can apply for a loan amount starting from Rs. Rs2 million to Rs. 15 million, payable in 60 to 240 monthly installments. HBL is also offering a loan calculator on their website that you can use to calculate the loan amount.

Requirements:

The minimum salary requirement for HBL is around Rs. 100,000. The person should be 22-60 years old. The documents required are CNIC, salary slip, 12-month bank statement t, minimum 5-year experience, Pakistani nationality (Resident & nonresident Pakistani), and a letter frthe om employer.

Website: HBL

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3. MCB Bank Providing Home Loans in Pakistan

You can apply for a loan amount of up to Rs. 25 million, payable in 12 to 240 monthly installments.

Requirements:

The person should have a monthly salary of Rs. 50,00 and should be 21-60 years of age. The documents required include CNIC, salary slip, 12-month bank statement, and proof of Pakistani residency.

Website: MCB

 

4. Askari Bank Bank Providing Home Loans in Pakistan

Askari bank offers loan amounts starting from Rs. 500,000 to Rs20 million, payable in 36 to 300 monthly installments.

Requirements:

Just like MCB, the minimum salary requirement for Askari Bank is Rs. 50,000. The age limit is 22-60 years, and the documents needed for further processing include CNIC, salary slips, and a 12-month bank statement.

Website: Askari Bank

 5. UBL Bank Providing Home Loans in Pakistan

You can apply for a loan amount starting from Rs. 1 million, payable in 36 to 240 monthly installments.

Requirements:

To get the loan, the person should have a monthly income of Rs. 50,000. They should be 23-65 years old. The papers needed are CNIC, salary slip, 12-month bank statement, proof of Pakistani residency, and proof of 12 years of employment.

Website:  UBL

 6. Bank Al Habib Bank Providing Home Loans in Pakistan

Like other banks, Bank Al Habib is also providing a loan starting from Rs. 300,000 to Rs. 20 million, payable in 240 monthly installments.

Requirements:

The minimum salary requirement is Rs. 60,000 and the age limit is 23-60 years. The things needed for the paperwork include CNIC, salary slips, and 12 monthly bastatementsent.

Website: Bank Al Habib

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 7. JS Bank Bank Providing Home Loans in Pakistan

JS Bank offers home loans ranging from Rs. 500,000 to Rs. 100 million, payable in 12 to 240 monthly installments.

Requirements:

For JS Bank, the salary bracket is a bit high. The minimum salary requirement is around Rs. 70,000. The person should be 21-60 years old and should have CNIC, salary slips, and 12-month bank statements with them.

Website: JS bank

 8. Meezan Bank Bank Providing Home Loans in Pakistan

With Meezan Bank, you can apply for a loan amount starting from Rs. 500,000 to Rs. 50 million, payable in 24 to 240 monthly installments.

Requirements:

Meezan Bank gives loans to a person who has a monthly income of around Rs. 40,000. The age bracket is 25-65 years, and the papers required for further processing include salary slips, 12-month bank statements, ENT, and 2-year employment proof.

Website: Meezan Bank

 9. Standard Chartered Bank Providing Home Loans in Pakistan

Saadiq Home Financing division of Standard Chartered is also giving loans. Like HBL, this bank is also providing an online loan calculator for its customers. You can apply for a loan amount starting from Rs3 million to Rs30 million, payable in 12 to 240-month installments.

Requirements:

With Standard Chartered Bank, the financing is available for up to 75% of property value. The salary requirement and age requirements are Rs. 50,000 and 21-60 years, respectively. If you are interested in getting a loan from SC, then bring your CNIC, salary slips, 12-month bank statement, and a letter from your employer with you.

Website: Standard Chartered

 10. Summit Bank Bank Providing Home Loans in Pakistan

Summit Bank allows its valued customers to apply for a loan amount starting from Rs. 300,000 to Rs. 100 million, payable in 12 to 240 monthinstallmentsnts.

Requirements:

The base pay for the Summit Bank is Rs. 80,000, and the age limit is 23-60 years. The documents needed for formal paperwork include CNIC, salary slip, 12-month bank statement, and a letter from the employer.

Website: Summit Bank

 11. Bank Islami Bank Providing Home Loans in Pakistan

Bank Islami is also offering home financing, starting from Rs. 200,000 to Rs. 50 million, payable in 24 to 300 monthlinstallmentsts.

Requirements:

The minimum salary requirement is Rs. 51,000, and the age limit is 25-65 years. Bank Islami requires CNIC, salary slips, 12-month bank statement, 6-month employment proof, anthe d last month's utility bills for documentation.

Website: Bank Islami

 12. Bank of Punjab Bank Providing Home Loans in Pakistan

The BOP is also offering home financing from Rs10 million and above, payable in 240 monthly installments.

Requirements:

The person should be earning around Rs. 40,000. They should be 21-60 years old. They should also have CNIC, salary slips, bank statements, nuts, and a copy of utility bills with them.

Website: Bank of Punjab

 13. Al-Baraka Bank Providing Home Loans in Pakistan

Al-Baraka is giving out loans starting from Rs0.3 million to Rs. 35 million, payable in up to 240 monthly installments.

Requirements:

The minimum salary requirement is Rs. 50,000, and the person should be around 21-60 years of age. The documents required include CNIC, salary SLI, PS, and banstatementsnt.

Website: Al-Baraka

 14. MCB Islamic Bank Ltd Bank Providing Home Loans in Pakistan

MCB, being one the leading banks of Pakistan is also giving a loan amount up to Rs. 30 million, payable in 24 to 240 monthly installments.

Requirements:

The minimum salary requirement is Rs. 60,000. Your age should be around 25-65 years. The documents needed are CNIC, salary slips, bank statements,t and a minimum of five years in service.

Website: MCB Islamic Bank Ltd

 15. NBP (National Bank of Pakistan) Bank Providing Home Loans in Pakistan

The National Bank of Pakistan provides Holoansoan to its valuable customers on easy terms and conditions. NBP Home provides the best home loan rates in Pakistan because of its variable annual return policy.

Under the NBP Saibaan program, the bank is providing construction loans and purchase loans to its customers. The maximum amount that you can get is around Rs.35 million for a period of 3 to 20 years.

Requirements:

To avail il the loan, the person should be at least 22 years old with a net income of around Rs.10, 000 (if he or she is a government employee) and Rs.15000 (if he or she is privately employed).

To apply for the loan, you need to have the following documents with you:

Two attested passport-size photographs.

Two attested copies of your CNIC.

Two attested copies of CNIC of references.

Cheque for the processing charges.

Cheque in favor of legal counsel for a legal opinion.

Cheque in favor of Valuator for valuation report.

Cheque in favor of income Estimation Company for income estimation report, if applicable.

Property Documents: attested copy of title documents available.

Bill of quantity (BOQ) in the case of HC and LPC.

Website: National Bank of Pakistan

 16. Faysal Bank Bank Providing Home Loans in Pakistan

The home loan program of Faysal Bank operates under the diminishing Musharakah principle. In this program, the bank and the customer purchase the asset jointly. The bank then rents out its share of units to the customer.

When all the units are being paid by the customer, the asset gets shifted in the name of the customer and he becomes the sole owner of that specific property.

Currently, the following types of loans are available:

Home purchase.

Home builder/ Plot + construction.

Home renovation.

Home re-finance (Transfer existing home finance facility).

To avail il the loan, the person should be a citizen of Pakistan. The salaried person should have a net income of Rs.100, 000 and the age limit for the loan is between 21 to 60 years of age.

requirement the following documents are required by the bank for the application process:

Copy of CNIC.

2 passport-size photographs.

Last six months’ salary slips.

Salary certificate/employment certificate (Designation, date of Joining, permanent – status, salary Breakup).

Last 12 months bank statement (Original).

Copy of complete property documents.

Website: Faysal Bank

 17. Dubai Islamic Bank Bank Providing Home Loans in Pakistan

If you are looking for a home loan without interest in Pakistan, then consider this bank. Dubai IslamBankank is also providing home loans for its customers, that too without any Riba (a concept in Islamic banking that refers to charged interest). So, all those people who do not want to get involved with any kind of interest can opt for this bank as it provides loans up to Rs.75 million.

Musharakah agreement will occur between the customer and the bank. The bank will purchase the asset for the customer and then it will lease out that property to the customer. When the amount of the loan is paid in full, the bank will shift the complete ownership to the customer following types of home loans are being provided by the bank:

Home purchase.

Home renovation.

Purchase of an undivided share of the property mortgaged by other banks (Balance transfer).

Construction finance.

Requirements:

Age: 25 to 60 years old.

Monthly income: Rs.40, 000 for salaried employees and Rs.50, 000 for self-employed.

Website: Dubai IslamBankank

Document required:

Copy of primary applicant’s CNIC

Copy of co-partners CNIC

passport-size photographs

Tax returns

Copy of utility bill

Professional degree (for self-employed professionals only)

Salary certificate/proof of profession

Latest salary slip

Bank statement of the last 12 months & bank certificate

 18. Allied Bank Limited Bank Providing Home Loans in Pakistan

Allied Bank Limited is one of the most famous banks in Pakistan that provides home loans on easy terms. If you are a Pakistani citizen within the age bracket of 25 to 57 years and have a net income of 50,000 per month then you are eligible for the home loan.

You can get Rs.40 million in loan and you can repay it within 3 to 25 years, depending upon your preference and budget.

However, unlike many banks, AlliBankank requires you to have a prior relationship of around 6 months with a bank following types of loans from the bank are available at the moment:

Home/apartment purchase

Home construction (Land already owned)

HoRenovationion

Buy land & construct a home

Requirements:

Last six months’ bank statement (ABL / any other bank, as the case may be)

Copy of CNIC/ Smart NIC

Proof of income

Complete and duly signed “Application Form”

Website: