Askari Bank's Mortgage Finance offers flexible solutions to help you achieve your homeownership goals, whether you're buying, building, or renovating your home. With easy disbursement plans, competitive rates, and custom options, Askari Bank provides the financial support you need to make your dream home a reality. Whether you're looking to start fresh with a new property or improve your existing space, our mortgage finance options are designed to meet your unique requirements.
Build a Home
This type of loan is extended to customers who already own a piece of land and need funds to meet the cost of constructing a house on that land. The disbursement of this loan is made in tranches during the construction phase depending upon the Bills of Quantity (BOQ) submitted by the customer duly verified by the Bank’s approved valuation agency.
Buy a Home
As the name suggests, this type of loan is meant for the purchase of an already-constructed house.
Buy a Plot and Construct
This loan type is extended to customers who want to buy a plot and construct a house on that plot. The disbursement of this loan is made in tranches for the purchase of the plot and then during the construction phase depending upon the bills of quantity (BOQ) submitted by the customer duly verified by the Bank’s approved valuation agency.
Renovation
This loan is offered to customers who already own a house and require funds for renovation/improvement. Disbursement will be made in two tranches only after the customer has provided a BOQ duly verified by the Bank’s approved valuation agency.
Balance Transfer Facility
This loan is available to existing borrowers from other institutions who wish to switch to Askari Bank Limited for reasons such as better service, pricing, or relationship benefits. To qualify, the mortgage loan with your current financial institution must have a positive credit history. A balance transfer facility is strictly not allowed for properties that are still under construction.
Regular Mortgage Finance
Whether you are buying, building, renovating or transferring your existing home loan, Askari Mortgage Finance offers the right plan to you.
| Particulars | Details |
| Tenure of Loan | 1 to 25 years |
| Minimum Age of Borrower | 21 years |
| Maximum Age till Maturity of Loan | 60 years (Salaried)
65 years (SEB/SEP/Pensioner) |
| Minimum Salary/Income
Permanent Employees Contractual Employees SEB/SEP (Branch Customers) SEB/SEP (Non-Branch Customers) | Rs. 50,000/-
Rs. 60,000/- Rs. 100,000/- Average Balance Rs. 150,000/- Average Balance |
| Minimum Employment – Salaried (Permanent)
Minimum Employment – Salaried (Contractual) SEB/SEP (Branch Customers) | Overall 1 year & 3 months with current employer
Overall 18 months & 6 months with my current employer |
| SEB/SEP (Non-Branch Customers) | 1 Year in the same business/profession
2 years in the same business/profession |
| Finance Amount (subject to DBR) | Rs. 500,000/- to Rs. 100 Million |
| Minimum Equity Requirement | 25% |
| Top Up/Limit Enhancement | Renovation/Completion purpose |
| Balance Transfer Facility against already availed mortgage finance from other bank | After completion of at least 18 months |
| Mark-up Rates
Branch Customer (Salaried) Non-Branch Customer (Salaried) | 1 Year KIBOR + 3%
1 Year KIBOR + 4% |
To view the flyer of Askari Mortgage Finance, please click here.
Documents required:
You can apply by visiting our Branches or by calling our 24-hour contact center at 051 111-000-787. Our dedicated staff will help you complete your loan application form and other formalities.
You can also submit your details here, our staff will contact you.
Note: Housing finance will not be allowed purely for the purchase of land/ plot
Note: Facility can only be allowed In case of joint account maintaining with AKBL.
Yes, the purpose of finance has to be in line with the purpose defined by the regulator i.e:
Yes. One can avail of two Mortgage Loans at a time from Askari Bank within the Debt Burden Ratio (DBR) as per prevailing SBP PRs for Housing Finance.
The minimum financing amount is Rs. 500,000/. The maximum financing limit will be up to Rs. 100,000,000 subject to a 50% Debt Burden Ratio (DBR) as per SBP PRs for Housing Finance.
Loan tenure is a minimum of 3 years and a maximum of 25 years
Minimum 21 years and Maximum 65 years at the time of loan maturity.
Yes. Clubbing of Co-Borrower income may be allowed in case of spouse/son/parents/un-married daughter/sibling.
No, the loan amount can only be used for specific purposes i.e.
Mortgage Finance facilities can be availed from all cities/areas without discrimination.
The financing shall not be allowed for;
The processing time of Mortgage Finance is 30 days form login till approval subject to complete application with required documents.
Processing Charges will be applicable as per prevailing Bank’s Schedule of Charges (SOC) available at AKBL website.
Yes. Property Insurance is mandatory; however, life insurance is optional. Insurance premium is born by the borrower. It covers construction cost of financed house and value of property in case of apartment.
Payment of Equal Monthly Installment (EMI) comprising of principal, mark-up and Insurance cost etc. will be made through Direct Debit Authority (DDA) of borrower’s account maintained with AKBL.
Yes, one can claim tax rebate against its House Finance mark-up paid during the year, or as per prevailing Tax laws of the country.
Yes, Balloon payment or premature termination option is available for all customers. Charges will be applied as per prevailing Bank’s schedule of charges.
Our Sales/front-end staff is quite supportive and always there to serve you. You can visit/call or send email at our Customer Services center(s) as well.
Email Address: CustomerServices@askaribank.com.pk
