Habib Metro Bank Home Financing

Product Type

Mera Pakistan Mera Ghar

Tier

Tier 1

Employment Status

All

Property Price

PKR

1.50 Crore

Down Payment

45 Lakh

Loan Period

Years

240 Months

Loan Calculations

Monthly Installments

PKR 103,774

Property Value

PKR 15,000,000

Down Payment

PKR 4,500,000

Loan Amount

PKR 10,500,000

Interest

Kibor + 3%

Loan Type

Conventional

Features and Benefits

Affordable & easy repayment plan

Helps in construction on a plot you already own

Allows you to expand or extend your existing Housing Unit

Enables you to purchase as well as the construction on the plot

Enjoy a 5% rental rate for the first five years

Purchase of House / Flat

Hybrid mark-up rates (Fixed & Floating)

Financing Up to PKR 10 Million

Property Insurance

Offered across the country

Purchase of a complete residential property (Apartment/Flat/House)

Enjoy up to 80% financing of the property value

Disclaimer

It is pertinent to mention here any additional documents may be required by the bank.

Required Documents

Computerised CNIC/Copy

Proof of income documents

Copies of property documents/ Details of property

Salary Slip/ Bank Statement

Employment Letter

Passport size coloured photographs of the applicant, co-applicant(s), & guarantor(s)

Latest 4-month salary slip (for salaried persons)

1-Year Bank Statement (for self-employed professionals)

Application form

Documents of all financing facilities the borrower availed from the banks/DFIs

Business /employment proof

Currently paid utility bills (Home and Office)

Proprietorship Letter/Account Certificate mentioning the name (for self-employed)

Disclaimer

Some/all features and benefits may not be applicable on every application, as each case may differ, allowing banks to offer more or less from the aforementioned list.

Overview

Habib Metropolitan Bank commenced its commercial banking operations as a Metropolitan Bank in 1992. Under this name, it remained a highly ranked bank until 2006, when it decided to merge with Habib Bank AG Zurich’s Pakistan operations. Based in Karachi, Pakistan, it has a wide network of 400 branches, operating in different cities.

Habib Metro offers various services to its clients, be it commercial, consumer or corporate banking solutions. With expertise in trade finance, it provides highly innovative e-Banking and Shariah-compliant Islamic Banking clarifications. Not only this, it had achieved long-term and short-term ratings of “AA+” (Double A Plus) and “A1+” (A one plus) by the Pakistan Credit Rating Agency for the consecutive 17 years as well. These ratings, being the highest among the local sector Private Banks, denote a very low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments. Not only this, in 2015, Habib Metro won Asian Development Bank (ADB) award.

The parent bank, Habib Bank AG Zurich was founded by the Mohammed Ali Habib family as the government started privatization of the banking sector in Pakistan. It has operations in Hong Kong, Singapore, United Arab Emirates, Kenya, South Africa, the United Kingdom and Canada. Moreover, the bank brings you to “Mera Pakistan Mera Ghar”, the Government’s Markup Scheme for housing finance under the guidance of the State Bank of Pakistan. This will enable the citizens to fulfil their dream of owning a house with an affordable and easy payment plan. This facility is available nationwide at designated branches.

Eligible Criteria:

Individuals having a valid CNIC
First-time home-owners
Citizens can only one-time utilise a subsidised house loan facility under this scheme
Citizens having a monthly income of a minimum of Rs. 25,000/-
Up to 4 co-applicants are allowed – only blood relatives with ages between 25 to 60 years
Minimum 5 years of employment/business experience