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 Bank Alfalah Ghar Assan you get end to end personalized advisory and processing services at every stage.
Description | Revised Guidelines | |||
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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
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(a) House upto 250 square yards (10 Marla) and
(b) flat/apartment with maximum covered area of 2,000 square feet.
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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 | 2% for first five years 4% for next five years 5% for 11 – 15 years 1year KIBOR + 2.5% after 15 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 |
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Tier / Category 0 | Introduced for Microfinance Banks to extend financing up to Rs.2.0Mn |
* Only NAPHDA (Naya Pakistan Housing & Development Authority) projects
Year 1 to Year 5
Fixed Rates |
Year 6 to Year 10
Fixed Rates |
Year 11 to Year 15* | Exceeding 15 Years
Variable Rates |
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Category 1 (NAPHDA Projects) | 2% | 4% | 5% | 1 Year KIBOR + 2.5% |
Category 2 (Non-NAPHDA) | 5% | 7% | 1 Year KIBOR + 4.0% | 1 Year KIBOR + 4.0% |
Category 3 (Non-NAPHDA) | 7% | 9% | 1 Year KIBOR + 4.0% | 1 Year KIBOR + 4.0% |
*Fixed for Tier/Category 1 and variable for Tier/Category 2 & 3.
Description | Details | ||
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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 |
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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 |
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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 |
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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
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)