Everything You Need to Know About Loans in Pakistan: Student Loan, Car Loan, Home Loan and Business Loan From Pakistani Banks
How to have Loans in Pakistan Via Banks. In life, a number of people go through the phase when having a loan becomes their most important and foremost step to get relief from financial issues. For having Loan people depend on an organization or individual who can give them the required amount of money for solving their certain problems. So if you are in the market for having loans and mortgages and in search of the best loan provider bank, you are at the right place.
Today you will find here how to easily get Loans from different banks existing in Pakistan. These banks are offering Student Loan, Car Loan, a mortgage, Home Loan, Business Loan, or any other type of product loan with easy to pay installments.
We hope our article has sufficient information and will help you out to make the best decision for having loans in Pakistan.
Student loan scheme
Now student loan schemes are also offered by different banks in Pakistan in order to secure their bright future. Now don’t worry about your financial problem because Student Loan will help you to continue your studies and have bright career opportunities.
The student must take admission in Public Sector College or universities and should have age limit for graduation up to 21, for post graduation 31 and for Ph.D. 36 years old. Student can take admission in any science or arts subject. The loan will be repaid by the student under 10-years after employment and it should be paid in installments after every six months. This Student Loan Scheme is provided by National Bank of Pakistan in the country.
Home Loan in Pakistan
Those who always dream of having their own house but cannot afford it and consider it impossible for them can now have their own house. A number of banks in Pakistan are offering home loan schemes to fulfill your dream.
You can get financing to construct your home on an empty plot
- Financing of up to 100% of the construction cost
- Payment tenure option from 3 to 20 years.
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Eligibility:
At the time of application between 23 years to 55 years, subject to a maximum age of 60 for salaried and 65 for other types of customers, at the time of maturity of finance.
Minimum take home income of Rs 50,000- per month from all sources.
You must be a permanent employee, currently employed with total employment experience of at least 2 years.
The property you want to mortgage should be located in Karachi, Lahore, Rawalpindi or Islamabad.
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Meezan Bank Easy Home – Islamic Housing Finance:
Eligibility:
- Minimum 25 years & maximum 65* years at financing maturity.
- Primary (or Single) & Co-applicant allowed.
- Co-applicant must be an immediate family member.
- Minimum Gross Income of PKR 40,000 per month.
- 100% Co-applicant income may be clubbed in case of spouse only.
- Minimum Gross Income of PKR 75,000 per month.
For further details visit the official Website of Meezan Bank Here.
Muslim Commercial Bank Home Loan:
Eligibility Criteria:
- Applicant(s) must be Pakistani Resident Nationals
- Salaried, Self Employed Businessmen / Professionals
- Satisfactory verification
- Satisfactory bureau checks
- Satisfactory income estimation, property valuation and legal opinion
Loan Amount:
- Home Purchase: PKR 50 Million
- Home Construction: PKR 25 Million
- Home Renovation: Up to PKR 15 Million
- Plot Purchase Plus Construction: PKR 50 Million
Required Documents:
- Application form
- Copy of valid and original CNIC/SNIC
- Two passport size photographs
- Declaration of all financing facilities availed from all banks/DFIs
- Income documents
- Business /employment proof
- Copy of property documents
- Any other document required by the Bank.
Business Loan
Sometimes you need to start your business but have no source of income to invest.
For starting your business you can contact a bank that provides loans in easy steps for business. Banks providing loan for business are given below:
Standard Chartered Bank of Pakistan:
Standard Chartered Bank of Pakistan also provides loans to carry on their business, provides financial help to small and medium scale enterprises.
For having Business Loan from Standard Charted Bank visit the official website and go to your nearest branch of the bank.
National Bank of Pakistan:
National Bank of Pakistan is at the front position of international banking in Pakistan. NBP is providing various ways of financing from the small and medium loans to the large scale loans to carry on businesses at a large scale.
For having a Business Loan from the National Bank of Pakistan visit the official website and go to your nearest branch of the bank.
Al Baraka Bank:
Al Baraka Bank being the Islamic bank grants loans to the poor farmers and many clients so that they can start the small scale business and providing interest free loans to the clients to fulfill the short terms monetary.
For having Business Loan from Al Baraka Bank visit the official website and go to your nearest branch of the bank.
Muslim Commercial Bank:
Muslim Commercial Bank helps many of the impoverished people around the country. With more than 60 years of its experience it has provided its client’s best services among all others, small business loans have helped many of the people across the countries to enhance the level of earning.
For having Business Loan from Muslim Commercial Bank visit the official website and go to your nearest branch of the bank.
So reader these are the complete detials about having the loans and mortgages in Paksitan.
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