Askari Bank offers Government’s Mark-up Subsidy Scheme for Housing Finance.
|Eligible Customers||Salaried, Self Employed Individuals|
|Purpose of Finance||
|Approved Cities||Whole of Pakistan|
|Size of Housing Unit (Apartment/House)||Tier 1 (T1) only for NAPDHA Projects – (a) House upto 125 sq yds (5 Marla) with maximum covered area of 850 sq ft and (b) Flat/apartment with maximum covered area of 850 sq ft.
Tier 2 (T2) – (a) House upto 125 sq yds (5 Marla) and (b) flat/apartment with maximum covered area of 1,250 sq ft.
Tier 3 (T3) – (a) House upto 250 sq yds (10 Marla) and (b) flat/apartment with maximum covered area of 2,000 sq ft.
|Maximum Price of Housing Unit||Maximum price (Market Value) of a single housing unit at the time of approval of financing, shall be as follows:
Tier 1 (T1) – Rs 3.5 million
Tier 2 (T2) & Tier 3 (T3) – No cap
|Maximum Finance Amount||Tier 1 – Rs. 2.7 Million
Tier 2 – Rs. 6.0 Million
Tier 3 – Rs. 10.0 Million
|Tenure of Loan||5 to 20 Years|
|Mark-up Rates/End User Pricing||
|Minimum Monthly Net Disposable Income/Take Home Income||
|Minimum Equity Requirements||Tier 1 – 10%
Tier 2 – 10%
Tier 3 – 15%
|Balloon Payment/Early Settlement Charges||Nil|
|Age of Property||The mortgage facility is available for purchase of newly constructed housing unit, during the last one year from the date of application. However, this requirement will not be applicable till March 31, 2023 under Tier 2 and Tier 3.|
|Property and Life Insurance||Property insurance is mandatory, however, life insurance is optional. Cost of insurance shall be borne by the customer.|
|Other Charges||Charges other than mark-up shall be applicable as per AKBL’s prevailing Schedule of Charges|
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|Loan Amount||Tier||Tentative Installments (20 Years)|
|1st 5 Years||Next 5 Years||> 10 Years|