Buy a Home 500,000/- to 20,000,000/-
Build a House 500,000/- to 20,000,000/-
Buy a Land + 500,000/- to 20,000,000/-
Home Renovation* 500,000/- to 20,000,000/-
Facility is not allowed only for the purchase of plots rather financing is allowed for purchase of plots and construction on it. 50% of the loan limit is disbursed for the purchase of plot and 50% for construction on it. Construction plan will be taken by the FBL from the borrower before the disbursement of the initial loan limit.
FBL may allow housing finance facility for construction of houses against the security of land / plot already owned by the borrower while lending bank will ensure that the loan is utilized for construction purpose only. Loans against the security of existing plot or for the purchase of new plot for commercial and industrial purposes will be treated as commercial loans.
The house financed by the bank shall be mortgaged in FBL favor by way of equitable or registered mortgage.
The pricing is linked with 12 months KIBOR, along with the Bank’s spread (profit), details are as mentioned below;
[ Rate: Prevailing 12 months KIBOR + 5% ]
Revision: The rate is revised on an annual basis.
The repayment of rentals against the mortgage loan facility is done on a monthly basis, by debiting the facility account of the customer.
a) Upto Rs.10 million
b) More than 10 million
upto Rs.20 million.
Rs. 1/1000 per day, over each overdue rental
(Applicable after disbursement of loan, the monthly rental
for the availed housing facility gets due by the 1st of every
If the customer plans to settle the loan in full, before the
agreed term of the loan, as specified in the finance
agreement, a charge of 5% is levied over the outstanding
Charges pertaining to sale/mortgage deed and other documents including, search certificate(s), Permission to mortgage, mutation(s) etc. are to be borne by the customer.
The above charges are subject to change, depending on the Bank’s policy or any Govt. Taxes or duties that may become applicable.
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ATM - Plot No. C-12, Sub-Sector, 8-C/I, Gulshan-e-Hadeed Housing Project, Phase I, Steel Town, Bin Qasim, Karachi.
Branch - Plot No. C-12, Sub-Sector, 8-C/I, Gulshan-e-Hadeed Housing Project, Phase I, Steel Town, Bin Qasim, Karachi.