Makaan Asaan – Diminishing Musharakah Financing

Your partner in building your dream home!

U Bank Islamic Banking offers Shari’ah-compliant housing finance facility based on the Diminishing Musharakah (DM) Islamic mode of finance. The Makaan Asaan Financing facility caters to those individuals who are looking to purchase a plot, house, an apartment, or receive financing for the construction of a house, construction on customer’s existing owned land, extension of an existing house or structural improvement, and home improvement or renovation on existing premises.

Salient Features

Finance Facility: PKR 150,000 to PKR 3,000,000

Financing Tenure: 3 to 25 years

Financing repayment in equal monthly installments

Income clubbing with immediate family members

The financed housing unit will be mortgaged in favor of U Microfinance Bank

Financing Purpose

For the purchase of a house, flat, or an apartment

For the purchase of land for house construction

For house construction on customer’s own land

Expansion in existing house or structural improvement

Home improvement or renovation

Offered property should be free from any bar and charges.

Required Documents

Original CNIC
Passport-sized photograph
Pension book
Proof of income
Title documents of property to be mortgaged

Terms & Conditions are applicable

FAQs

Who can apply for this financing facility?

Any resident Pakistani with a valid CNIC/NICOP

What is the eligibility criteria?

The applicant must be a salaried, pensioner or an individual with a minimum monthly income of PKR 25,000.

Is there any age limit for the customer to avail this financing facility?

The age limit requirement is 22-65 years at the time of financing facility application and financing facility maturity respectively.

What is the procedure to apply for this financing facility?

The customer will be required to follow the following steps:

Visit the nearest U Bank branch
Provide the required KYC documents
Provide collateral related documents
Deposit any upfront charges
Sign the financing facility application form and submit

What documents are required to apply for this financing facility?

The following documents are required:

Sole proprietors- Proof of business like Business Card, Cash Memo, Letterhead or Utility Bill, Bank statement

Businesses Individuals- Proof of business like Business Card, Cash Memo, Letterhead or Utility Bill, Bank statement

Salaried Individual: 3 Recent Salary Slips or Salary Certificate, 6 months’ bank statement

What kind of processing charges are there?

Financing Application Fee
Processing Fee
Takaful Charges
Property Valuation Fee
Legal Appraisal Fee

What kind of collateral is required for this financing facility?

Transfer of pension to U Bank
Mortgage creation on property

For what purpose can I receive this financing facility?

The applicants can receive this financing facility for housing purposes only.

Is this Shari’ah-compliant?

Yes – It is Shari’ah-compliant financing based on Diminishing Musharakah

Makaan Asaan – Diminishing Musharakah Financing

How Much do you need ?

Rs 350,000 Rs 3,000,000

36 months 240 months

YOU ARE GETTING

Rs. 0

TERMS OF USE

Months

Total Profit

Rs. 0

INSTALLMENT AMOUNT

Rs. 0

Success Stories

Bringing Dreams to Life

Yasir Sheikh, a resident of Sheikh Muhalla in Shikarpur, Sindh, always dreamed of running his own business. He began with a small cart selling snacks on the street and gradually expanded to owning a grocery store. As his family grew, Yasir’s desire to provide a quality education for his children intensified. He enrolled them in good private schools, but soon found himself struggling to manage the school fees alongside daily expenses. Faced with the difficult choice between feeding his family and paying for education, Yasir felt overwhelmed and worried. In search of a solution, Yasir turned to U Bank for financial support. The bank's staff guided him through the loan options, and he quickly secured the necessary funds with Barhta Karobar Plus Loan. Within a year, Yasir not only expanded his grocery business but also successfully repaid the loan. Today, his store offers a wider variety of products, his income has increased, and his children are receiving the education he always dreamed of providing. Yasir’s story is a testament to how U Bank's microfinance services can empower small businesses to improve lives and livelihoods in Pakistan.

From Salesman to Business Owner

M. Iqbal Qadri from Adda Shabeel, Sahiwal – Punjab, Pakistan, is a determined business owner, who was working for a small pharmacy as a salesman before progressing to opening his own shop in Sahiwal. Sahiwal, where he is from, is an agricultural region and his family had traditionally been farmers. Between 2006 and 2007, Iqbal worked as a salesman, before he decided to open up his own retail store. He further required capital to expand it and increase his customer inflow. With suggestions from his friends, he twice availed the U Bank Islamic Banking - Apna Karobar Premium Murabaha Financing facility to add investment to his store for its growth. Today, he owns the shop himself, has added inventory and variety to his store, does not have to pay rent, sends his kids to good schools, and is living a good life.

U Bank Transforming Lives of Entrepreneurs

In the rural town of Kot Laysan, Rajanpur, Punjab, Tauqeer Ahmed has been running a successful clothing shop in Saddar Bazaar for 16 years, offering a wide variety of female clothing, from formal wedding clothes to casual dresses. Before starting his own business, Tauqeer worked as a salesman in a jewelry store for a decade, where he struggled with financial constraints. Realizing the potential in the clothing market, he decided to open his own shop, which required less initial investment and promised higher sales. To further expand his business, Tauqeer turned to U Bank for a Running Finance facility. The bank responded promptly, processing his loan quickly and offering a low markup rate. With this financial support, Tauqeer was able to invest in his business, resulting in substantial growth. Now, he enjoys daily sales of thousands of rupees, his income has improved significantly, and he has elevated his household's living standards. Tauqeer’s story highlights the vital role that U Bank's microfinance services play in empowering small and medium-sized businesses in Pakistan.

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