alfalah

Make Your Dream Home A Reality
Avail Alfalah Home Finance through Roshan Apna Ghar and have all your dreams of owning a home come true

  • Buy, Construct, or Renovate your house in Pakistan

  • No partial payment and early termination charges after 1st Year

  • Exclusive Pricing for Roshan Apna Ghar Customers

RDA – Roshan Apna Ghar

Roshan Apna Ghar provides quick and convenient solutions to get housing finance in easy and affordable monthly installments. This facility will be available for customers who either willing to keep their 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 customer of Govt Mark-up Subsidy Scheme (G-MSS) 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 pre-payments with zero charges after first year
  • For first year 1% will be charged upon Early Termination after words NO charges will be levied.
  • Processing fee Rs. 4,000/- (exclusive of FED)
  • Optional life Insurance covering death (due to any cause) and accidental/natural disability
  • Property Insurance (covering the financing amount) absolutely FREE for customers
  • Govt Mark-up subsidy scheme (GMSS) for housing finance will be applicable as per already defined criteria under respective tiers

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

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 a 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
Debt to Equity Ratio Maximum financing (debt) up to 85% of property value
Debt 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
  • 100% lien shall be marked equivalent to finance amount on Roshan Digital Account or Naya Pakistan Certificate till the maturity of loan.
  • Minimum balance in Roshan Digital Account or investment in Naya Pakistan Certificate should be equivalent to finance amount.

Following criteria will be applicable to those RDA customer who are willing to avail house finance facility with lien marking and doesn’t eligible / qualifies for GMSS.

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 not mandatory.
If opted it will be an immediate family member like spouse, parents, adult siblings & children. Further, applicant also has an option of appointing a “nominee” to carry out any assignment on his/her behalf having no legal obligations on nominee.
Co-applicant for income clubbing 100% Co-applicant income will be clubbed.
For the purpose of income clubbing, only a 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
Debt to Equity Ratio (Buy& Build) Maximum financing (debt) up to 85% of property value
Debt 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 Not applicable
Employment Status (for salaried individual only) Permanent & Contractual
Employment / Business Tenure Minimum overall employment / business tenure will be one year


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

Non-Lien Based

Salaried Individual:

  1. Digital loan application (Please click “Apply Now” at bottom of this page)
  2. Copy of Co-Applicant’s CNIC/ NICOP
  3. Scan copy coloured photographs of applicant and co-applicant(s) each.
  4. Employer’s certificate including tenor/designation/renumeration details.
  5. Employment Contract (in case of contractual employee)
  6. Latest salary slip.
  7. Bank Statement – last 6 months (Original OR duly attested by the bank with stamp / notary public).
  8. Copies/ details of any financing facility being availed in the country of employment or in Pakistan
  9. Copies of latest tax documents (where applicable)
  10. Credit Bureau Report of stay country

Non -Salaried Individual:

  1. Digital loan application (Please click “Apply Now” at bottom of this page)
  2. Copy of Co-Applicant’s CNIC/ NICOP
  3. Scan copy coloured photographs of applicant and co-applicant(s) each.
  4. Valid Business Proof
  5. Bank Statement – last 12 months (Original OR duly attested by the bank with stamp / notary public)
  6. Copies/ details of any financing facility being availed in the country of employment or in Pakistan
  7. Copies of educational qualification degree / certificates (in case of self-employed professional)
  8. Copies of last 2 years tax documents where applicable
  9. Credit Bureau Report of stay country

Non-Lien Based:

  1. Digital loan application (Please click “Apply Now” at bottom of this page)
  2. Copy of Co-Applicant’s CNIC/ NICOP
  3. Scan copy coloured photographs of applicant and co-applicant(s) each.
  4. Valid proof of income documents
Sr # Developer Project Name Major Cities Key Features
1 Izhar Monnoo Developers Dream Garden Lahore, Wazirabad & Other Residential plots & semi-constructed houses
2 Ansaar Management Company Safiya Homes (Multiple projects) Lahore, Peshawar, Faisalabad Low cost housing units
3 Elite Estates Private limited Project Eighteen Islamabad Residential plots, semi-constructed houses, apartments
4 Pakistan Housing Authority Foundation PHAF (Multiple projects) Islamabad, Provincial Capital Semi-constructed houses, apartments
5 Lahore Development Authority LDA Naya Pakistan Apartments Lahore Low cost housing apartments
6 Aziz Group AJ Towers Islamabad/Rawalpindi Apartments

Disclaimer

The projects for financing mentioned on Bank’s website are for reference and information only and Bank doesn’t assume and bear any responsibility for delays, errors, omissions or legal sanctity on the Services being provided by the builders or owners of the projects.

Information on this website is provided on “as is” basis without any representations or warranties, express or implied and Bank Alfalah Limited makes no representations or warranties in relation to the list of contractors and their experience provided on this website.

Limitations of liability

Bank Alfalah Limited will not be liable to you in any manner whatsoever in relation to the contents of, or use of, or otherwise in connection with this website:

  • to the extent of information contained on the website pertaining to the list of contractors, for any direct loss;
  • for any indirect, special or consequential loss; or
  • for any business losses, loss of revenue, income, profits or anticipated savings, loss of contracts or business relationships, loss of reputation or goodwill, or loss or corruption of information or data.

In no event shall Bank Alfalah Limited be liable for any special, direct, indirect, consequential, or incidental loss or any damages whatsoever, whether in an action of contract, negligence or tort, arising out of or in connection with the use of the Services of Contractor(s). Bank Alfalah Limited reserves the right to make additions, deletions, or modification to the contents on the website at any time without prior notice.

Unenforceable provisions

If any provision of this website disclaimer is, or is found to be, unenforceable under applicable law, that will not affect the enforceability of the other provisions of this website disclaimer.

Affiliate disclaimer

This affiliate disclosure clearly informs you that Bank Alfalah Limited has no relationships directly or indirectly with any of the Contractors named on this website.

Bank Alfalah will review and select each Builder / Project by reviewing (i) market reputation and (ii) financial and technical capacity, and past experience to complete such project as per committed timelines (if any). The assessment depends on the builder’s profile and legal status and may require additional documents on case to case bases.

  • The potential builder / project has the necessary licenses to undertake the project. All the pertinent permissions / NOCs etc. from relevant housing / development authorities have been obtained
  • Last 3 years audited accounts of potential builder / project
  • Developer’s equity contribution in the project – Bank statement for last 12 months showing sufficient balance or evidence of equity participation
  • Commitments honored with respect to project timelines to establish builders’ ability to perform
  • Number of projects already successfully performed / completed in their history
  • Human resources to undertake the project e.g. Architects, Engineers etc.
  • Technical resources to undertake the project e.g. Machinery, equipment etc.
  • The property on which the project is being constructed is free from all encumbrances
  • A complete physical and legal verification of the project’s land through bank’s approved legal counsel
  • The potential builder will provide Performance Guarantee from a recognized bank

To process application from enlistment of Project / Builder on bank’s approved list; please share brief detail of project at homefinance.rda@bankalfalah.com


In lien based financing under Roshan Apna Ghar; the bank can extend financing under off-plan projects.

In non-lien based financing; the projects need to be approved by the bank prior to extending end-user financing for Roshan Apna Ghar. The modus operandi for non-lien based financing will be separately defined keeping in view the arrangement with developer / project. Coming Soon

Sr # Name Region Designation Mobile # Email ID
1 Hafiz Muhammad Nadeem Central East Relationship Manager HF 0323-4602541 h.nadeem@bankalfalah.com
2 Muhammad Faizan Central East Relationship Manager HF 0321-8370620 ma.faizan@bankalfalah.com
3 Rehan Iqbal Central West Relationship Manager HF 0300-7377274 rehan.iqbal@bankalfalah.com
4 Nauman Hafeez North Relationship Manager HF 0316-0573993 nauman.hafeez@bankalfalah.com
5 Syed Muhammad Hadi Rizvi South Relationship Manager HF 0334-3016271 sm.hadi@bankalfalah.com

Alfalah Roshan Apna Ghar FAQS:

BAFL 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 Ghar Asaan (Govt. Markup Subsidy Scheme for Housing Finance)

All metropolitan and approved cities under Alfalah 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 sought 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 loan 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.

a.       Lien based Product- No requirements of mortgage – equitable or registered
b.       Non–lien based Product- equitable mortgage for all and token registered mortgage for customers based on their risk profile

a.    Lien based product- Co-applicant optional at the discretion of applicant. However, the borrower will nominate a person who can be a lawyer, a relative, or a friend to facilitate the transaction in Pakistan.  The nominee cannot be optional in the absence of co-applicant; the applicant will have to nominate someone to facilitate the transaction, receive POs etc.
b.     Non –lien Product- Co-applicant is mandatory. Co-applicant will be an immediate family member like spouse, parents, adult siblings & children.

Markup will be variable linked with 1 Year KIBOR (benchmark) and bank’s margin. Bank margin, over and above the benchmark rate, will be as low as 1.5% in non-lien based. Bank offers exclusive pricing in case of lien based financing.

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

A late payment penalty will be levied that you will be required to clear off at the end of your financing tenure. For details on late payment charges please refer to “Schedule of Charges”.

Flexibility to make partial pre-payments with zero charges after first year

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

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

a.     Lien based Product: not required as the property can be transferred in his/her name ex-parte subject to respective; his/her nominee can witness the transaction to ensure that the sale deed is duly executed/registered in his/her name.
b.     Non –lien Product: either physical presence or PA is required to collect the title documents and to create a charge in favor of the Bank.
c.      Outright Purchase: Physical presence or PA not required as the property can be transferred in his/her name ex-parte subject to respective authority’s discretion; his/her nominee can witness the transaction to ensure that the sale deed is duly executed/registered in his/her name.

KIBOR is subject to revision every year, BAFL 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 provided mandatory Life and Property insurance at economical rates
  • We offer minimum finance with no maximum limit
  • Your property Title documents are thoroughly examined by our legal experts, to insure any possible future issues regarding legal deficiency in the property/security

There are different types of taxes applicable on sale-purchase and mortgage of property like Stamp duty, TMA / authority fee, registration fee, withholding tax (Separate for filer & non-filer), Gain tax (Separate for filer & non-filer) etc. These taxes vary from province to province and property rate at which tax rate applies also varies from area to area within a city.

Special power of attorney can be given by the owner (s) of the property to execute sale-purchase transaction, retrieval of title and ancillary documents from concerned authority / society, submission of documents to banks, execution of mortgage deed and charge creation documents. The template of power of attorney will vary for different societies /authorities and will be executed accordingly.

  • The special power of attorney should be properly filled along with required copies of CNIC/NICOP etc.
  • The owner (s) will execute the special power of attorney in the office of embassy / consulate office of Pakistan in his/her country of residence.
  • The embassy / Consulate office will attest the signature of executant along with witness of documents
  • The identification copies of witnesses
  • Duly attested power of attorney will be sent to attorney-holder to Pakistan for its execution.
  • The power of attorney will be verified by Ministry of Foreign Affairs office in Pakistan with applicable fee
  • The power of attorney will be registered in the office of sub-registrar (where required)

 

Note: The customer (s) / owner (s) need (s) to be physically available in Pakistan in case respective authority does not entertain power of attorney.

In case of self-financing or lien based financing, where mortgage of property is not required, the customer shall provide a copy of title deed in his/her name for bank’s record

each and every payment for investment (token, advance/partial payment) must be made from RDA in order for the disinvestment to be fully repatriable in future, if required.

Please review Framework for Investment by Non-Resident Pakistanis (NRPs) in Residential and Commercial Real Estate Sector through NRP Rupee Value Account (NRVA) at link  https://www.sbp.org.pk/epd/2020/FEC1-Annex-A.pdf

RDA – ROSHAN APNA GHAR CALCULATOR

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