alfalah
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RDA – Roshan Apna GharRDA – Roshan Apna Ghar

RDA – Roshan Apna Ghar

Islamic Roshan Apna Ghar provides quick and convenient solutions to get housing finance in easy and affordable monthly installments. This facility will be available for all RDA customers who are either willing to keep their RDA balance/INPC investment as lien against their net financing amount as collateral or avail financing without cash collateral. Further, this will also be available to all the customers of Govt. Subsidy Scheme (GSS) for housing finance as per already defined criteria under respective tiers.

Salient Features

  • Customer must be a Bank Alfalah Roshan Digital Account Holder.
  • Maximum financing against property value.
  • Exclusive Price Offering.
  • Flexibility to make partial payments with zero charges after first year.
  • For first year 1% will be charged upon Early Termination afterwards NO charges will be levied.
  • Processing fee Rs. 4,000/- (exclusive of FED).
  • Optional life Takaful covering death (due to any cause) and accidental/natural disability.
  • Property Takaful expenses shall be borne by the bank.
  • Govt. subsidy scheme as per SBP IH&SMEFD Circular No. 03 of 2021 for housing finance will be applicable as per already defined criteria under respective tiers.

A. Product Features – Without lien:

Following criteria will be applicable to those RDA customers who are willing to avail house finance facility without lien marking and are not eligible / qualify for GSS:

Citizenship All non-resident RDA accountholders having valid NICOP
Product Category Buy, Build, Renovate
Target Market
  • Salaried Individual
  • Non-salaried individual
Co-applicant Co-applicant is mandatory.
Co-applicant will be an immediate family member like spouse, parents, adult siblings & children. At least one should be permanently living in Pakistan.
Co-applicant for income clubbing 100% Co-applicant income will be clubbed in case of spouse.
75% Co-applicant income will be clubbed in case of other than spouse.
For the purpose of income clubbing, only non-resident Pakistanis can be considered.
Maximum number of co-applicants Four co-applicants are allowed
Age (Applicant & Co-applicant)
  • Salaried Individual

20 to 60 years

  • Non-salaried individual

20 to 65 years

Financing Range (Buy, Build)
  • Minimum Rs. 500,000/-
  • Maximum No cap
Financing Range (Renovate only)
  • Minimum Rs. 500,000/-
  • Maximum Rs. 10 million
Financing Tenure 3 to 25 Years
Finance to Equity Ratio Maximum financing (debt) up to 85% of property value
Finance to Equity Ratio (Renovation only) Financing up to 30 % of property value
Number of housing units at a time At a time one financing facility may be allowed
Net Monthly Income There will be no minimum income criteria
Debt Burden Ratio 50% of the net disposable income
Employment Status (for salaried individual only) Permanent & Contractual
Employment / Business Tenure Minimum overall employment / business tenure will be two years

B. Product Features – With lien:

  • 100% lien shall be marked equivalent to finance amount on Roshan Digital Account (except RDA Islamic current account) or Islamic Naya Pakistan Certificate till the maturity of finance.
  • Minimum balance in Roshan Digital Account or investment in Islamic Naya Pakistan Certificate should be equivalent to finance amount.

Following criteria will be applicable to those RDA customers who are willing to avail house finance facility with lien marking and are not eligible / qualify for GSS.

*BAFL-IBG policy upon lien marking of accounts shall be applicable here.

Citizenship All non-resident RDA accountholders having valid NICOP & POC
Product Category Buy, Build, Renovate
Target Market Ø Salaried
Ø Non- Salaried
Co-applicant Co-applicant is mandatory.
Co-applicant will be an immediate family member like spouse, parents, adult siblings & children. At least one should be living in Pakistan.
Co-applicant for income clubbing 100% Co-applicant income will be clubbed.
For the purpose of income clubbing, only non-resident Pakistanis can be considered.
Maximum number of co-applicants Four co-applicants are allowed
Age (Applicant & Co-applicant)
  • Salaried Individual

20 to 60 years

  • Non-salaried individual

20 to 65 years

Financing Range (Buy & Build)
  • Minimum Rs. 500,000/-
  • Maximum No cap
Financing Range (Renovate only)
  • Minimum Rs. 500,000/-
  • Maximum Rs. 10 million
Financing Tenure 3 to 25 Years
Finance to Equity Ratio (Buy& Build) Maximum financing (debt) up to 85% of property value
Finance to Equity Ratio (only Renovate) Financing up to 40 % of property value
Number of housing units at a time At a time one financing facility may be allowed
Net Monthly income There will be no minimum income criteria
Debt Burden Ratio 50% of the net disposable income
Employment Status (for salaried individual only) Permanent & Contractual
Employment / Business Tenure Minimum overall employment / business tenure will be one year

Documents Requirement for Non-Resident Pakistanis (Regular Home Musharakah):

Following list will be applicable for regular HM customers applying under product A and B. For GMSS, same list of documents will be applicable as defined in GMSS product scheme.

Salaried Individual:

  1. Duly filled application form.
  2. Applicant’s copy of NICOP
  3. Copy of Co-Applicant’s CNIC/ NICOP
  4. Two passport-sized coloured photographs of applicant and co-applicant(s) each.
  5. Employer’s certificate including tenor/designation/renumeration details.
  6. Employment Contract (if applicable)
  7. Last three-month salary slip.
  8. Copy of Passport (if applicable/optional)
  9. Copy of Visa / Work permit / Residence Permit (Iqaama etc.)
  10. Copy of Professional Association Membership Certificate / Practice License (if applicable)
  11. Bank Statement – last 12 months (Original OR duly attested by the bank with stamp / notary public) through embassy.
  12. Copies/ details of any financing facility being availed in the country of employment or in Pakistan
  13. Copies of educational qualification degree / certificates.
  14. Copy of Rental Documents (if applicable)
  15. Copy of recent Credit Card Bills. (if applicable)
  16. Copies of last 2 years tax documents where applicable
  17. Credit Bureau Report of stay country

Non -Salaried Individual:

  1. Duly filled application form.
  2. Applicant’s copy of NICOP
  3. Copy of Co-Applicant’s CNIC/ NICOP
  4. Two passport-sized coloured photographs of applicant and co-applicant(s) each.
  5. Valid Business Proof
  6. Copy of Passport (if applicable/optional)
  7. Copy of Visa / Work permit / Residence Permit (Iqaama etc.)
  8. Bank Statement – last 12 months (Original OR duly attested by the bank with stamp / notary public) through embassy.
  9. Copies/ details of any financing facility being availed in the country of employment or in Pakistan
  10. Copies of educational qualification degree / certificates.
  11. Copy of Rental Documents (if applicable)
  12. Copy of recent Credit Card Bills. (if applicable)
  13. Copies of last 2 years tax documents where applicable
  14. Credit Bureau Report of stay country

Alfalah Roshan Apna Ghar FAQS:

BAFL-IBG offers wide range of products including:

  • Home buyer- you can buy an apartment/ house
  • Home build- construct on already owned plot (self- spouse)
  • Plot purchase and construct on it
  • Home Renovation
  • Alfalah Islamic Ghar Asaan (Govt. Subsidy Scheme for Housing Finance)

All metropolitan and approved cities under Alfalah Islamic Home Finance.

Only if they hold valid Pakistani nationality (NICOP), in addition to their overseas permanent resident status.

There is no positive or negative locations list in the industry, you just have to choose a residential property in the market and get back to us to apply for a finance. We will seek clear legal option from the bank’s lawyer on property title documents. Further we will seek an internal review to make sure the property you selected is marketable with free access. Consequently, you will be informed if the property is not acceptable to us, you will further be advised about other secured property options. Hence, we are not bound by any sale commitment that you may have made with the seller.

We finance to: Salaried individual, Self-employed professional, Businessperson, Expatriate, other (rental, agriculture)

Your application shall only be processed once you submit all documentation and information to our satisfaction. If your financing facility gets approval from bank’s internal credit department, we shall start proceeding with all legal formalities related to the property. Next we will wait for your instruction to disburse the facility.

Minimum of PKR 500,000/- and no maximum limit, depending upon your repayment capacity.

There will be no minimum income criteria however, maximum 50% Debt Burden Ratio (DBR) will be kept while underwriting credit facility.

Co-applicant is mandatory. Co-applicant will be an immediate family member like spouse, parents, adult siblings & children. At least one should be permanently living in Pakistan. Up to Four co-applicants are allowed

Without lien, rent will be calculated considering 1-year KIBOR + 1.5%
With lien 1-year, rent will be calculated considering KIBOR + 0.5%

Please refer to the BAFL-IBG “Schedule of Charges” for detailed information on application charges.

Customer will have to donate a certain percentage of the outstanding amount as per their undertaking to be spent for charitable purposes through BAFL-IBG, which becomes payable either at termination or maturity of the finance facility. For details on late payment charity please refer to “Schedule of Charges”of BAFL-IBG.

Flexibility to make partial payments with zero charges after first year

For first year 1% will be charged upon Early Termination afterwards NO charges will be levied.

BAFL-IBG provides full Takaful coverage of the financed property in case of apartment and up to construction cost in case of house.

We offer feasible tenure option 3 years to 25 years based on an individual applicant’s age.

KIBOR is subject to revision every year, bank’s rates are non-negotiable and fixed throughout the life of your tenure. Hence, your financing tenure shall be revised yearly to reflect changes.

One time charges to process your application processing, income estimation, legal opinion on property will be applicable. These charges are non-refundable irrespective of the outcome of your application.

We accept postdated cheques, monthly deposit of cash, cheque in account, direct debit.

  • We provide multiple financing options i.e. Home/apartment purchase, home construction on own plot, plot purchase + construction, home renovation.
  • We provide an End to End advisory services
  • Our policy is to secure your investment by providing mandatory Life and Property Takaful at economical rates
  • We offer minimum finance with no maximum limit
  • Your property Title documents are thoroughly examined by our legal experts, to ensure any possible future issues regarding legal deficiency in the property/security