About Scheme:
Purchase of house/flat
Purchase of Plot & Construction thereon
Construction of house on self owned plot
Renovation/home improvement
Target Market
Salaried Individuals (SI)
Self Employed Professionals (SEP)
Self Employed Businessmen (SEB)
ELIGIBILITY CRITERIA FOR SALARIED INDIVIDUALS (SI)
Age between 25 and 60 Years or retirement date; whichever is earlier (60 Years at maturity of facility)
Minimum Take Home Salary is Rs. 10,000/-
Permanent. Employee with Minimum 03 Years of continuous job Experience including 01 year with current employer. (02 Year for BOP Employees including probationary period).
Maintaining Salary Account in any bank.
Have valid CNIC
Residing or working in launching cities.
ELIGIBILITY CRITERIA FOR SEP/SEB
Age between 25 and 60 Years or retirement date; whichever is earlier (60 Years at maturity of facility)
Minimum 03 Years in current business.
Minimum Monthly Net Income is Rs. 20,000/- (Established through Tax Return or Income Estimation Report of outsourced agencies or Bank Statement).
Have valid CNIC
Residing or working in launching cities.
Tax Payer
Security of Loan
House/Flat purchased.
Plot on which construction is to be carried out.
House on which renovation is to be carried out.
10 % Token Registered Mortgage
Equitable mortgage for the full marked up amount
Noting of charge in revenue record
Life Insurance of the borrower assigned in the name of Bank
Insurance of property
Three undated cheques for the marked up loan amount (principle + mark-up)
FOR SALARIED PERSON:
Copy of valid CNIC
Latest Salary Slip / Employer Certificate on organization’s letter head (as per BOP specimen)
Two Recent Photographs
Bank Statement for last 6 months
Latest Copy of utility bills (Electricity & phone)
Income Tax Return/Wealth Statement OR Non-Tax Payees Form, if applicant is a non-tax payer
FOR SELF EMPLOYED BUSINESSMEN / PROFESSIONAL:
CNIC
Two Recent Photographs
Bank Statement for last 01 Year of Business Accounts
Latest Copy of utility bills (Electricity & phone) of Residence
Income Tax Return/Wealth Statement OR Non-Tax Payees Form, if applicant is a non-tax payer
Copy of Rent agreement if living in rented house
BUSINESS RELATED DOCUMENTS.
Latest copy of utility bills (Electricity & phone) of current business address.
Documentary evidence in business or in the profession for the last 05 years.
Proprietorship Certificate/Partnership deed
Copy of Professional Degree (For Professionals)
Title document or rent deed of the office
If office premises moved in the last 3 years details and evidence of last office premises
Copy of professional degree for self-employed professionals
BUSINESS FINANCIAL DOCUMENTS.
Income Tax Return/Wealth Tax Statement
Balance Sheet
Profit & Loss Statement
Any other documents
PROPERTY RELATED INFORMATION TO BE PLACED WITH THE BANK AS SECURITY
Copy of Title document of the property.
Copy of approved building plan and completion certificate of house.
Copy of property tax payment receipt (PT1/PT 10)
NEC
Any other documents advised by legal counsel
NOC to mortgage leasehold property to the bank should also be obtained from the respective LESSOR (if applicable) and to ensure that there are no restrictive covenants in the Lease Agreement / Deed. NOC to mortgage from concerned society
