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.

For salaried individuals, the minimum income requirement is $3,000 or equivalent. For self-employed business owners and self-employed professionals, the minimum income requirement is $4,000 or equivalent.

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 , rent will be calculated considering 1 Year KIBOR only

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

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 optional life and mandatory  Property Takaful at economical rates
• Your property Title documents are thoroughly examined by our legal experts, to ensure any possible future issues regarding legal deficiency in the property/security