RAAST HOME MUSHARAKAH” HOUSE FINACING POLICY
Types of House financing |
Purchase, Construction, BTF, Renovation |
Aggregate Exposure |
PKR 40 million per client (for construction & purchase of house) PKR 5 million (for improvement/renovation of house). For Balance Transfer Facility the maximum limit shall be PKR 40 million or actual outstanding amount whichever is less. |
Pricing |
Pricing as per declared in Monthly Circulars |
Construction Periods |
Completion time for construction of a house should not be more than 12 months from the release of first tranche |
Debt Equity Ratio |
For purchase of House 75:25 For Construction of House/Apartment 75:25 For Improvement/Renovation75:25 For Actual Outstanding |
Tenure |
For Purchase of House /Apartment05 to 20 years For Construction of House 05 to 20 years For Improvement/Renovation 03 to 10 years For up to Remaining period of facility |
Age of applicant |
Salaried Person Between 22 and 55 years. Businessman Between 22 and 60 years |
Period of Employment |
employment history of at least 5 years |
For Businessmen |
aleast 5 years |
Income |
Minimum income required is Rs. 30,000/- |
Mode of payment |
Post Dated cheques |