Purchasing a home is one of the most anticipated and celebrated occasions in your life and many people spend numerous years saving money to make this dream come true. However, times have changed and this feat is much simpler now with the number of financing options available to investors and potential home buyers, and Standard Chartered Bank offers one of the most attractive home financing products!
While many banks may offer home mortgage packages, SCB has a special Islamic banking division, Saadiq, which offers home finance according to the Islamic principle of “Diminishing Musharaka”. According to this principle, the bank and the customer both jointly own a tangible asset (such as a house) and the customer pays periodic instalments for his and the bank’s share until the price of the asset is paid off. The customer is also liable for paying rent for use of the bank’s share of the asset until he/she retains full ownership of it.
In this manner, people are able to purchase houses on simple instalments and also remain within the realms of Islamic principles. Customers availing this offer will also benefit from additional features such as the opportunity to decorate and furnish their house on easy instalments, zero processing fees, and much much more!
While the offer may sound exceptionally tempting, how can a customer determine how much finance he requires to purchase a particular property and how much borrowing that amount of money will cost him/her in periodic instalments? SCB’s special Home Finance Calculator solves this problem and makes it super easy for potential customers to calculate the amount of money they will have to borrow from the bank and the respective monthly instalment they will be required to pay.
The Home Finance Calculator requires potential customers to enter the total price of their desired property, the percentage required as down payment, and the duration of time that they wish to borrow money for. The Home Finance Calculator will tell you the amount of money you will require from the bank to purchase the property and the respective monthly instalment that you will have to pay. The best part is that the Home Finance Calculator has an Apply Now tab which allows you to instantly contact the bank with a query or apply for home finance.
The best part is that the Home Finance Calculator can easily be used via Zameen.com’s Home Partners page and following a few simple and self-explanatory steps can lead you to being the proud owner of a new property!
Can’t wait to see how much you will have to borrow to purchase the property you’ve been looking at? Click here to access the Home Finance Calculator now and apply for home finance immediately!