To apply for low-cost Al Habib financing you need to:
- Belonging to the special segment whose financing is offered exclusively, being: widows, children of martyrs, special people or people with disabilities, and transgender people
- The building must be located in the following districts: Mohmand, Bajaur, Orakzai, Kurram, Khyber, North Waziristan, and South Waziristan of Khyber Pakhtunkhwa.
- Be aged between 18 and a maximum of 60 at the time of application
- Do not own any property in your name or in your spouse’s name
- A minimum annual income of PKR 30,000
For all requirements fulfilled, it will be necessary to present the purchasing documentation.
What are the characteristics of using Al Habib’s low-cost financing?
The financing will have a maximum term of 12 and a half years, including a maximum grace period of 6 months. The maximum amount of financing is PKR 2.7 million for land purchase and construction. The financing of land, to be acquired for the purpose of building a house, will be allowed up to 1 million only.
Where to apply for low-cost Al Habib financing?
To apply for low-cost Al Habib financing, you must go to an Al Habib physical agency, carry your documentation and the previous documentation for the purchase of the land, and apply to the application form.
The bank will analyze your data and may or may not release the financing on your behalf.
It is important that you already have a relationship with Al Habib for at least 6 months.
What are the financial features of low-cost Al Habib financing?
The disbursement will be made in percentage installments according to the construction phase.
- Baseboard and Foundation 30%
- Structure 30%
- Finishing 40%
The interest rate is 5% for all financing.
See even more information about low-cost Al Habib financing and see if this option is right for you!