Alfalah Home Musharakah

Alfalah Islamic Housing Finance is a housing finance solution that has been structured in a manner which ensures that the principles of Shari’ah related to Diminishing Musharakah have been strictly followed thus making it Riba-Free. With a simple housing finance solution based on Shari’ah principles, you can avail the following:

  • Home Musharakah Buyer/Purchase
  • Home Musharakah Renovation/Improvement/Alfalah Green Finance (Solar Energy Solution)
  • Home Musharakah Secure
  • Home Musharakah Construction
    • Owned Land
    • Plot/Land Purchase and Construction
    • Owned House
  • Home Musharakah Balance Transfer Facility (BTF)
    • Conventional Bank to Bank Alfalah Islamic
    • Any Islamic Bank to Bank Alfalah Islamic

Features & Benefits

  • Flexible tenures from 3 to 25 years
  • Maximum financing for salaried individuals of up to 60-80%
  • Maximum financing for non-salaried individuals of up to 50-75%
  • Spouse or blood relative (parents, children, brother, sister) is eligible to participate as co-applicant.
  • Half-unit repayment option to reduce instalment in initial period of financing and to avail maximum financing facility (lower principal recovery in the initial period of financing)
  • Flexible repayments with options to purchase additional units (balloon payments) and early termination/settlement
  • Minimal documentation and application fee
  • No hidden charges
  • Competitive pricing

Eligibility Criteria

  • Pakistani Computerised National Identity Card holder
  • Age between 23-60 years for salaried and up to 70 years for non-salaried
  • At least 1 year in employment for permanent and 3 years for contractual salaried individuals
  • At least 5 years for business owners and 3 years for self-employed professionals
  • Spouse or blood relative (parents, children, siblings) are eligible as co-applicants
  • Must meet minimum income requirements

Documents Required

  • Application form
  • CNIC/NICOP copy
  • Latest 2 photographs
  • Copy of property documents to be financed
  • Latest salary slips
  • Last 6 months Personal Bank Statement in the name of the salaried customer
  • Last 12 months business bank statement (only for self-employed businessperson/Professionals)
  • Other income proof

Note : Terms and Conditions apply
– Islamic laws of financing Diminishing Musharakah is based on Shirkat ul Milk.

Apply Now Or you can apply for Alfalah Home Musharakah at the branch.
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