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Naya Pakistan Housing Scheme – Makaan Asaan Diminishing Musharakah

Mera Pakistan Mera Ghar Government Profit Rate Subsidy Scheme

U Microfinance Bank Islamic Banking offers Shari’ah Compliant Housing Finance facility under Government’s Profit Rate subsidy scheme to individuals based on Diminishing Musharakah (DM) Islamic mode of finance. Customers looking to purchase a house, flat or an apartment or plot purchase or construction of a house, construction on exiting owned land or extension of an existing house/structural improvement can utilize this facility.

Basic Product Purpose:

  • For purchase of House or a Flat or an Apartment
  • For purchase of land for house construction
  • For house construction on customer’s own land
  • Expansion in existing house or for structural improvement

Eligibility Criteria:

  • Pakistani Resident having valid CNIC
  • Age limit 25-60 years (at the time of finance application)
  • First time Home owner
  • Minimum monthly income Rs.25,000

Salient Features:

  • Finance facility from PKR 500,000 to PKR 2,000,000
  • Financing tenure from 5 to 20 years
  • Financing repayment in equal monthly installments
  • Income clubbing allowed with immediate family members
  • In line with SBP’s direction regarding this scheme, the financed housing unit will be mortgaged in the favor of UMBL.
  • Financing facility available for:
    • House upto 125 sq. yards (5 Marla) and
    • Flat/Apartment with maximum covered area of 1,250 sq ft.

Profit Rate:

First 05 years5%
06-10 years7%
Above 10 yearsKIBOR + 7%

Required Documents:

  • Original CNIC
  • Passport size photo (recent)
  • Proof of income
  • Title documents of property to be mortgaged
  • Offered property should be free from any bar and charges

Tentative Installment Plan:

Finance Amount (PKR)500,000700,0001,000,0001,200,0001,500,0001,800,0002,000,000
10 Years Plan Installment amount5,3037,42510,60712,72815,91019,09221,213
20 Years Plan Installment amount3,3004,6206,6007,9209,90011,88013,200

(Above mentioned installment amounts are calculated for first 05 years)

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ABOUT U BANK

U Microfinance Bank Ltd. (U Bank) is a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) – Etisalat Company. The bank has a network of more than 200 branches, across 183 cities and rural areas in Pakistan and offers a wide range of microfinance loans, deposit products, and branchless banking solutions. U Bank’s branchless banking offers services under the banner of U Paisa in collaboration with Ufone (Pak Telecom Mobile Limited). The service is offered at nearly 45,000 agent locations across Pakistan.

U Microfinance Bank is proud to be at the front line of fighting poverty in Pakistan and is dedicated to play its critical part in the implementation...
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