A housing scheme offered under the Shariah-compliant guidelines of Diminishing Musharakah mode of financing, offers you a convenient and affordable option to get the house of your dreams.
Buy a Home: Purchase a constructed property through this facility.
Buy and Build a Home: Avail this facility if you want to buy a piece of land and subsequently construct a house.
Financing will be available for expansion/extension of existing housing unit provided the housing unit after expansion/extension falls with in the criteria specified under the facility. Financing for renovation of existing housing unit will not be allowed under the facility
Financing under Tier 1 is available through banks for financing under NAPHDA projects
Financing under Tier 2 and Tier 3 is available through banks for financing of housing units under non-NAPHDA projects
|Tiers||SIZE OF HOUSING UNIT||Maximum Price of Housing Unit||Maximum Financing||Minimum Contribution from Customer|
|Tier 1 (NAPHDA Projects)||House up to 125 square yards (5 Marla)
Apartments with maximum covered area of up to 850 square feet
|PKR 3.5 million||PKR 2.7 million||10% of property value|
|Tier 2||House up to 125 square yards (5 Marla)
Apartments with maximum covered area of up to 1,250 square feet
|No cap||PKR 6.0 million||10% of property value|
|Tier 3||House up to 250 square yards (10 Marla)
Apartments with maximum covered area of up to 2,000 square feet
|No cap||PKR 10.0 million||15% of property value|
Note: Financed housing unit will be mortgaged in favor of HBL Islamic Banking as per the applicable policy and SBP prudential regulations.
|Allowed Financing Cities||All cities of Pakistan where HBL Islamic Banking has a branch|
|Monthly Income||No Minimum or Maximum Income Requirement|
|Work Experience|| Employment Proof (for Salaried) |
Gov/AOL Employee - 6months
Non AOL employee - 1 Year
Gov/ AOL Employee - 1 Year
Non AOL employee - 2 Years
Length of Business Proof (for Self Employed)
Existing HBL Customer - 1 Year
New Customer - 2 Years
|Income Clubbing for Co-applicant / Co-partner|| |
Financing tenure from 5 years to 20 years
|Subsidized Rate||First 5 years||Next 5 years||For period exceeding 10 years|
|Tier 1||3%||5%||1 yr KIBOR plus 2.5%|
|Tier 2||5%||7%||1 yr KIBOR plus 4%|
|Tier 3||7%||9%||1 yr KIBOR plus 4%|
Please visit your nearest HBL Islamic branch to apply.
Under this arrangement, bank and customer become joint owners in a property. Bank’s ownership share is divided into units which customer purchases periodically to ultimately become complete owner of the property. Till the complete ownership, customer pays agreed rentals for using bank’s share in the property.
Terms and conditions apply. Charges to be applied as per effective Islamic Schedule of Banking Charges (I-SOBC).