Apna Ghar Mehfooz Zindagi
A home of your own is a blessing and a long held aspiration of many. With MCB Home Loan, fulfilling this dream is much easier than before. MCB Home Loan opens doors to a number of financing options to help you buy, build and renovate your dream home.
You can apply for MCB Home Loan if you have income source from one of the following:
- Salaried
- Self-Employed
- Pensioners
- Land Lords
Salaried Non Resident Pakistanis can also apply for a home loan through MCB Bank Pakistan.
- MCB Home loans are available on very competitive pricing
- Flexibility to borrow funds - 2 - 25 years
- You can buy a house, buy a plot and construct a house or construct a house on your existing plot
- You can also renovate your existing home through MCB
- Financing for Low Cost Housing for Special segment is also available. Please click here for eligibility and further information.
- Financing for MCB Pyara Ghar – Government Markup Subsidy Scheme for Housing finance is also available. Please click here for eligibility and further information.
- Broad range of financing available – Upto PKR 50 Million (or even higher)
- Net Income (Salaried Customers): PKR 30,000 per month
- Net income (Self-employed customers): PKR 50,000 per month
- Minimum Age: 25 years for Primary Borrower & 22 years for Joint Borrower
- Maximum Age: 70 years or retirement age(whichever is less at the time of maturity of the loan) for Primary Borrower & 70 years for Joint Borrower
- Employment Length: 2 years for Salaried and 3 years for Self-employed Professional/Businessman
- One Year Bank Statement required for all segments
Following segments can apply for Low Cost Housing Finance for Special Segment
- Widows
- Transgender
- Special Persons
- Children of martyrs and persons in areas severely affected by terrorism
Variants Allowed:
- Only Plot + Construction
- Home Construction
Loan Amount:
- Minimum: PKR 200,000/-
- Maximum: PKR 3,000,000/-
Loan Tenor: From 1 – 12 Years
Collateral Property Cities: All over the country
Pricing: Markup: 5% - Fixed
Eligibility
- The borrower includes all men/women holding valid CNIC.
- The borrower must not be an owner of any residential housing unit /flat / apartment.
- An individual can have a subsidized house loan facility under this scheme only once.
- Loan can be applied against property on which the borrower will be the first purchaser (first transfer of house/apartment/flat) of newly constructed affordable housing units (Not more than one year old from the date of application). However, this requirement will not be applicable till March 31, 2023 under Tier 0, Tier 2 and Tier 3.
- Loan can also be applied to finance a plot as well as construction on the same.
- Customers can also utilize the loan for an expansion/extension in their existing homes.
Variants Allowed:
- Home Purchase
- Plot Plus Construction
- Home Construction
- Home extension/ expansion
Loan Tenor:
Minimum: 5 years
Maximum: Upto 20 years depending on the choice of the customer
Loan Categories offered:
Category | Ownership | Property Size | Maximum Market Price (PKR) | Maximum Loan Size (PKR) |
---|---|---|---|---|
T1 | NAPHDA Projects |
|
3.5 Million | 2.7 Million |
T2 | Non - NAPHDA Projects |
|
No Cap Million | 6 Million |
T3* | Non - NAPHDA Projects |
|
No Cap Million | 10 Million |
Pricing
Category | Effective Subsidized Markup for the first 10 years | Markup Rates after 10 years |
---|---|---|
T1 | Tenor Up to 5 years: 5% Tenor 6-10 Years: 7% |
One Year KIBOR + 250bps (2.5%) |
T2 | Tenor Up to 5 years: 5% Tenor 6-10 Years: 7% |
One Year KIBOR + 400bps (4%) |
T3 | Tenor Up to 5 years: 7% Tenor 6-10 Years: 9% |
One Year KIBOR + 400bps (4%) |
Special Features
- Prepayment Option available with no prepayment penalty
- Hybrid mark-up rates (Fixed & Floating)
Eligibility:
- Only Salaried segment (Permanent/Contractual) is eligible to apply under the variant.
- Customer can apply for the Purchase of House only.
- All applicants must be holders of CNIC, SNIC, NICOP or a Pakistan Origin Card.
- Applicants may also have dual nationality.
- Local co-borrower requirement is mandatory and they can be any of his blood relative as per Bank’s policy.
- One year banking relationship with any bank in Pakistan or in country of customer’s residence.
- Minimum Net Income requirement is PKR 500,000 or equivalent (Conditions applied)
Pricing
- Standard Pricing as mentioned below
- Special 50% discount on prepayment charge (for Roshan Digital Accountholders)
Additional Documentation for Non Resident Pakistanis for Home Loan:
- NICOP/POC
- Copies of Pakistan Passport and International Passport (in case of Dual Nationality Holders)
- Resident’s Status / Work Permit (Iqma for KSA and UAE)
- Any other document on a case to case basis
Additional Documentation for Non Resident Pakistanis for Home Loan:
- Property Insurance is mandatory in the Home loans.
- Consumer Offices/Customer Walk-in Centers in 11 major cities.
Minimum Documentation
- 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
Note: The information provided is as per the current practice and the policy / process can be changed without prior intimation. Moreover, this is very limited information and the Bank reserves the right to decline / reject any case without assigning/intimating the reason(s) for the same.