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HBL Islamic HomeFinance


A Shariah compliant home finance facility enabling you to get the house of your dreams.

 

Key Features

    ​​​​​  Purchase of completed residential property, construction of house including land purchase, renovation of

        house/apartment or replacement (BTF) of existing mortgage facility

      Financing limit between PKR 2,000,000 to PKR 75,000,000/-

      Equal monthly instalments

      Payment tenure from 3 to 25 years

      Financing up to 70% of property value

      Property and life takaful 


Criteria

 

Salaried individuals:

      Applicant must be a Pakistani citizen.

      Applicant must be 25 years or more at the time of financing application and 60 years or less/   retirement

         age, whichever is lower at the time of financing maturity.

      Monthly income must be from PKR 50,000/- to PKR 100,000/-


Self-employed business persons/professionals to provide:

      Applicant must be a Pakistani citizen

      Applicant to be 30 years or more at the time of application and 65 years at maturity of financing.

      Minimum monthly income must be from PKR 100,000/- to 150,000/-

 

Non-Resident Pakistani (Salaried individuals):

      Applicant must be a Pakistani citizen.

      Applicant must be 30 years or more at the time of financing application and 60 years or less/   retirement

        age, whichever is lower at the time of financing maturity.

      Monthly income must be equivalent to Pak Rupees PKR 400,000/- or above.

How to apply

 

Salaried individuals to provide: 

​•      Copy of valid CNIC/NICOP/SNIC

      Two recent passport size photographs

      Original salary certificate stating date of joining and cadre of employment.

      Latest three original/attested salary slips

      Twelve months’ bank account statement where salary is credited.

      Proof of five years’ occupation (business or profession)

 

Self-employed business persons/professionals to provide:

      Copy of valid CNIC/NICOP/SNIC

      Two recent passport size photographs

      Proof of five years’ occupation (business or profession)

      Bank certificate stating Title/ CNIC#/ Account#/ A/c Opening Date/ Business Entity/ Authorized Signatory Name

      Bank statement for last 12 months

 

Non-Resident Pakistani (Salaried individuals):

      Salaried individuals only

      Non-Resident Pakistanis residing in GCC countries only (UAE, Saudi Arabia, Qatar, Bahrain, Oman,

        Kuwait)

      Applicant must be having Pakistani nationality

      Applicant must be 30 years or more at the time of financing application and 60 years or less/retirement

        age, whichever is lower at the time of financing maturity

      Minimum monthly income must be equivalent to PKR 400,000/-

      Total 5 years work history (permanent or contractual) with at least 2 years with the current employer

 

Product Disclosure

All bank charges will apply as per the prevalent Islamic Schedule of Bank Charges.


Guiding principle

HBL Islamic HomeFinance is based on the concept of Musharakah (Shirkat-ul-Milk). Under this arrangement, bank and customer become joint owners in the house. Bank’s ownership share of the house is divided into units which customer purchases periodically. Till the complete ownership, customer pays agreed rentals for using bank’s share in the house.

​​

Terms and conditions apply.

Pricing


Parameter
Charges
Profit Rate
Variable to be repriced annually as follows:
Existing HBL Customer -Salaried
1 Year KIBOR + 3 %
Existing HBL Customer – Self Employed Professional
1 Year KIBOR + 3.1%
Existing HBL Customer – Self Employed Businessmen
1 Year KIBOR + 4 %
New to Bank Customer – Salaried
1 Year KIBOR + 3.2%
New to Bank Customer – Self Employed Professional
1 Year KIBOR + 3.2%
New to Bank Customer – Self Employed Businessmen
1 Year KIBOR + 4.2%
Non-Resident Pakistani (Salaried)
1 Year KIBOR + 4%

Fixed profit rate can also be offered as per bank's discretion.

Applicable Floor rate is 8% and Cap rate is 30%.
 



Frequently Asked Questions (FAQs)

A:
At HBL Islamic Banking, the profit margin is directly linked to market trends to provide a competitive product to our customers. Shariah allows the use of any market factor as a benchmark to determine the profit rate of a particular product. The fact that the applied profit rate of our product is similar to the rates applied for conventional mortgages does not render the transaction or the contract invalid from a Shariah perspective; neither does it make the transaction an interest-bearing one; rather, it is the underlying structure of the product that determines its Shariah compliance.