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Bank AL Habib makes it easy to own your dream home with AL Habib Islamic Housing Finance under Diminishing Musharaka

Bank AL Habib makes it easy to own your dream home

With Bank AL Habib Islamic Housing Finance, you can lay the foundation of your dream home into reality either by purchasing a piece of land for the construction of a house or buying a built property under Shariah compliant mode of Diminishing Musharaka, .

Housing Finance Options

Buying
your own Home

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Construct
Your Home

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Plot Purchase
and Construction

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Home
Improvement

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Home
Balance Transfer

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Key

Product Features

  • Low and competitive rental rates
  • Financing Tenure: 1-25 years
  • Co-Applicant option available (Spouse, Father, Mother and Son)
  • No charges for early settlement and partial purchase
  • Repayment in equal monthly installments
  • Free Life Takaful
    • Must be a Pakistani National
    • Minimum 1-year relation with any bank(s)
    • Debt Burden Ratio (DBR): Up to DBR 50% aggregate of Net Income
    • Age: Minimum 25 Years. Maximum 60 years for Salaried; & 65 years for Self Employed Professional (SEP) and Self-Employed Businesswomen (SEB) at maturity of financing
    • Employment/Business Tenure: Minimum 2 years for Salaried and SEP, 3 Years for SEB
    • Minimum Income: Rs.60,000/- per month take home for Salaried and Rs.100,000/- per month for SEP / SEB
    • Satisfactory credit history
    • Co-applicant with a minimum take-home income of Rs.30,000 may be added for income clubbing and property ownership purposes

    Property Takaful

    Property Takaful Coverage at customer cost and can be reimbursed up to the bank’s share.

    Applicable Financing Rate

    For Salaried Individuals
    1 Year KIBOR+3% p.a

    Other than Salaried
    1 Year KIBOR+3.5% p.a

    Rate revision on each category will be on annual basis.

    • Bank's prescribed Application Form
    • Valid Computerized National Identity Card
    • 3 recent photographs (passport size)
    • Employment proof of last 2 years
    • Salary Slips for last 3 months
    • 1-year Bank Statement with the reflection of salary credits
    • Bank's prescribed Application Form
    • Valid Computerized National Identity Card
    • 3 recent photographs (passport size)
    • Acceptable proof of business of last 3 years for SEB and 2 years for SEP
    • Last 1 year Bank Statement and Account Maintaining Certificate