Take a loan of Rs 2.7 million to Rs 6 million from Al-Barka Bank under My Pakistan My Home scheme
A scheme has been launched by the Government of Pakistan in Pakistan
SBP has given instructions to eight banks under this scheme which is named My Pakistan My Home.
Al-Barka Bank is one of the eight banks to provide housing loans to the people of Pakistan
My Pakistan My Home Scheme is the largest and cheapest and low markup scheme in Pakistan
Details of Al Barka Bank My Pakistan My Home Scheme
Under this scheme, Al-Barka Bank provides loans for the purchase or construction of plots, houses and flight apartments.
Candidates and businessmen and professionals can take loans
Eligibility criteria for borrowing
number one
All men and women who have ID cards
First time applicants in the Substitute House Scheme issued by the Government of Pakistan
First time home builders
All these people can take loans under this scheme
Loan details
There are three categories created by Al-Barka Bank, one of which can be applied for.
Number one category
A five-marla house can be borrowed to build a flight and an apartment
Sizes range from 125 square feet to 850 square feet
Loan
For this, Al-Barka Bank will provide loans of Rs 2.7 million to Rs 3.5 million to candidates
This loan has to be repaid in monthly installments over a period of 20 years
Markup
For the first five years only five percent markup is required and for the second five years
That is, seven percent markup has to be given for six seven eight nine ten
After that, for the next 10 years, you will have to pay 2.5% markup with one year
Number two category
A five-marla house can be borrowed to build a flight and an apartment
Sizes range from 125 square feet to 850 square feet
Loan
Under this scheme, a loan of Rs 3 million to Rs 3.5 million can be availed for a period of 5 years
Or return with monthly installments of 10 years or 20 years
Markup
Five percent markup will be required for the first five years, seven percent for the second five years and for the next ten years
Will have to pay 4% markup with one year old
Number three category
You can take a loan to build a ten-storey house, a flight and an apartment
Sizes range from 850 square feet to 1,100 square feet
Loan
A loan of Rs 5 million to Rs 6 million can be obtained for a ten marla house
This loan has to be repaid with a monthly installment of 20 years
Markup
5 to 7% markup for the first five years and for the second five years
4.00% markup is required with one-year Kibar
To apply, the candidate can go to any Al-barka Bank branch and apply
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