alfalah
Alfalah Ghar AsaanAlfalah Ghar Asaan

Alfalah Ghar Asaan

A low cost housing finance product under

Mera Pakistan Mera Ghar

Alfalah Ghar Asaan – The key to your dream home

Your dream home can now become a reality. Bank Alfalah provides quick and convenient solutions to buy a house / apartment or acquire land for construction of house in easy and affordable monthly installments.

With Alfalah Ghar Assan you get end to end personalized advisory and processing services at every stage.

Product Variants

  • Alfalah Ghar Asaan – Home Buy: This type of facility is meant for the purchase of an already constructed housing unit / apartment.
  • Alfalah Ghar Asaan – Build a Home: This type of facility is extended to customers who already own a residential plot or intend to buy a residential plot with subsequent construction of house.

Basic Eligibility Criteria

  • All Pakistani citizens holding valid CNIC / NICOP / SNIC.
  • This subsidized scheme is for first time home owner
  • You can avail the facility under the scheme only once.
  • Only for construction and first purchase of newly constructed affordable housing units

Salient Features

Description Revised Guidelines
Category I* Category II Category III
Age of Housing Units Newly constructed housing units during last one year from the date of application No requirements till March 31, 2023.
Size of the Housing Unit (a)   House upto 125 square yards (5 Marla) with maximum covered area of 850 square feet and

(b)   Flat/apartment with maximum covered area of 850 square feet

(a) House upto 125 square yards (5 Marla) and

(b) flat/apartment with maximum covered area of 1,250 square feet

 

(a) House upto 250 square yards (10 Marla) and

(b) flat/apartment with maximum covered area of 2,000 square feet.

 

Covered Area For Houses up to 850 sq. ft No Limitation No Limitation
Covered Area For Apartments up to 850 sq. ft up to 1,250 sq. ft up to 2,000 sq. ft
Maximum Price of Housing Unit PKR 3,500,000 No Limitation No Limitation
Maximum Loan Size PKR 2,700,000 PKR 6,000,000 PKR 10,000,000
Loan Tenure Minimum 5 years and maximum 20 years loan tenor, depending upon choice of customers.
Pricing 3% for first five years
5% next five years
1YKIBOR + 2.5% after 10 years
5% for first five years
7% next five years
1YKIBOR + 4.0% after 10 years
7% for first five years
9% next five years
1YKIBOR + 4.0% after 10 years
Tier / Category 0 Introduced for Microfinance Banks to extend financing up to Rs.2.0Mn

* Only NAPHDA (Naya Pakistan Housing & Development Authority) projects

Subsidized Mark-up/ Profit Rate

First 5 Years

Fixed Rates

Next 5 Years

Fixed Rates

Exceeding 10 Years

Variable Rates

Category 1 3% 5% 1 Year KIBOR + 2.5%
Category 2 5% 7% 1 Year KIBOR + 4.0%
Category 3 7% 9% 1 Year KIBOR + 4.0%

Key Qualification Criteria

Description Details
Age (Applicant & Co-applicant) Salaried Individuals: Minimum 25 years and Maximum 60 years at time of maturity of loan

Non Salaried Individuals: Minimum 25 years and Maximum 70 years at time of maturity of loan

Net Monthly Income (Minimum) PKR 25,000 per month net disposable income Salaried: PKR 25,000 per month
Non-Salaried: PKR 50,000 per month
Co-Applicant Up to 4 co-applicants allowed with 100% income clubbing of co-applicants
Financing Cities   All cities of Pakistan where Bank Alfalah has it branch network
Employment / Business Tenor Minimum 2 Years for Salaried Individuals
Minimum 3 Years for Non-Salaried Individuals
Security Requirement* The financed housing unit / apartment financed will be mortgaged in favor of financing bank as per banks’ policy and SBP prudential regulations

*Property should be Accessible, Transferable, Mortgage-able, Free of any legal charge with any private or public individual/institution, and an approved map from the concerned authority shall be available

Minimum Documents

  • Facility Application Form
  • CNIC copy of the applicant / co-applicant
  • Proof of income documents
  • Copies of property documents / details of property

Your dream home awaits you! Please visit your nearest Bank Alfalah branch or call:

Contact Centre Number:  111 225 111

Dedicated email address: home.finance@bankalfalah.com

Bank’s website: https://www.bankalfalah.com/personal-banking/loans/alfalah-home-finance/

(Terms & Conditions apply)

Apply Now
Or you can apply for Alfalah Ghar Asaan at the branch.