LAHORE – Meezan Bank, in collaboration with the Government of Pakistan, has introduced an affordable housing finance scheme titled “Mera Ghar Mera Ashiana.”
The initiative aims to help first-time homeowners purchase or construct houses or flats under Shariah-compliant financing.
The scheme offers financing for houses up to 5 marla or apartments up to 1,360 square feet, with a repayment tenure of up to 20 years.
Eligibility for Loan
Applicants must hold valid CNICs, have a minimum gross monthly income of Rs 40,000, and fall between 20 to 60 years of age at maturity.
There is no limit on property unit price, and the financing amount is categorized into two tiers.
Loan Details
Tier 1 offers up to Rs2 million at a 5% profit rate for the first 10 years, while Tier 2 provides up to Rs 3.5 million at an 8% profit rate for the same period.
Monthly payments start from Rs6,600, if you apply for the Rs1 million loan.
Monthly Installment for Rs3.5 Million Loan
The monthly installment for Rs3.5 million loan for house construction stands at Rs29,275 while it is Rs25,093 for Rs3 million loan.
Applications can be submitted through Meezan Easy Home branches nationwide.
