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Home Finance

Barkat Home Finance is based on the principles of Diminishing Musharakah. This is a medium and long term financing product, where the Bank and the customer jointly purchase an asset and create joint ownership in the asset. The Bank rent out its share in the asset to the customer while the customer periodically purchases units of ownership in the asset from the Bank. After purchase of all the units the customer becomes the sole owner of the asset.

Product Features & Benefits

Faysal Bank Limited Barkat Home Finance is offering four product variants:

  • Home Purchase: This type of facility allows you for the purchase of constructed property.
  • Home Builder/ Plot + Construction: This type of facility is extended to customers who already own land / want to purchase a piece of land and need funds to meet the cost of constructing property.
  • Home Renovation: This facility is offered to customers who already own a house and require funds for renovations.
  • Home Re-finance (Transfer existing home finance facility): This type of facility allows you to transfer your existing home finance facility from any other bank to Faysal Bank Limited Barkat Islamic Banking.
  1. Quick processing with minimum documentation
  2. Minimum Limit PKR 500,000/- and Maximum 100 Million or up to 75% of the appraised value of your property.
  3. Tenure from 1 to 20 years (For Home Renovation minimum 2 and maximum is 15 Years)
  4. Flexibility to make Partial Pre-payments
  5. Property Takaful coverage.
  6. Accidental death Takaful coverage
  7. Property rental Income can be considered as primary income or additional to the basic income.
  8. Income clubbing option with close relative.
  9. Non- resident Pakistanis (NRPs) are also eligible to apply for home finance facility. Documents required

Eligibility Criteria

  • Citizen Ship: Pakistani
  • Cities: Karachi, Lahore, Islamabad & Rawalpindi.
  • Income: Rs 100,000 ( For Salaried) Rs 200,000( For Business Person & Self Employed)
  • Age Limit: For Salaried (Min 21 Years and Max 65 Years at the time maturity), For SEB/SEP (Min 21 Year and Max 70 Years at the time of maturity).

Documents Required:

  • Application Form properly filled and signed by customer.
  • Current Salary Slip
  • Clear and Visible Copy of CNIC
  • 2 Recent Photograph (passport size).
  • SBP undertaking properly filled and signed by customer.
  • 6 Month’s Bank Statement, Where Salary Credits (Original / stamped & signed by bank)
  • Employment Certificate.
  • Copy of Latest Utility Bill

  • Application Form properly filled and signed by customer.
  • One year Business Proof (Bank Certificate / Letter, NTN Certificate, Partnership Deed, Certificate of incorporation / Form A / Form 29, etc.)
  • Clear and Visible Copy of CNIC
  • 2 Recent Photograph (passport size).
  • SBP undertaking properly filled and signed by customer.
  • 6 Month’s Bank Statement,(Original / stamped & signed by bank)
  • Professional Degree and valid membership of applicable professional body (for SEP Only)
  • Copy of Latest Utility Bill

  • Application Form properly filled and signed by customer.
  • Income USD 4000: or equivalent to the corresponding /Residence Country.
  • Original Bank Statement for Last one year.
  • Co-applicant Mandatory.
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Our hotline is available 24X7

Tel: 111-06-06-06

Text 9181

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Nearest ATM & Branch

ATM - Bahria Town (Pvt) Ltd, Head Office, Customer Support Center, Super Highway, Karachi

Branch - Bahria Town (Pvt) Ltd, Head Office, Customer Support Center, Super Highway, Karachi