Khushhali Apna Makaan

Loan for New construction and Structural Changes or Renovation in the existing house.

Loan Eligibility Criteria

• Age: 25 -60 years (65 years for Pensioners)
• Annual income of Applicant (net of business expenses) should exceed the limit as set by SBP from time to time.
• Residing in the house/ ownership of the house (if the property has been given on rent) for at least 1 year
• Salaried individuals must be working with the current employer for at least 2 years
• 2 years business experience
• NADRA CNIC/ SNIC holder

Tenure

Repayment Options

• Equal Monthly Installments

Collateral

FOR PROPERTIES HAVING CLEAR TITLE

Loan amount up to PKR 350K

• Proof of Residence (copy of ownership documents given as annexure) will be attached with credit case. (Mandatory)
• Guarantor- (applicable where salary/pension not transferable).
• Co-borrower (where applicable)
• DP Note
• Preferably Salary / Pension Account to be transferred to KMBL for salaried/pensioners where possible.

For Loans PKR. 350,001 up to PKR 1,000,000

• Equitable Mortgage OR Registered Mortgage
• In case of Equitable Mortgage, the original title document will be retained at branch and MODTD shall be issued. Verified photocopy of title document will be attached with credit case.
• Guarantor (Mandatory in case salary pension is not transferred to KMBL)
• Co-borrower (where applicable)

For Loans PKR 1,000,001 up to PKR. 3,000,000:

• Registered Mortgage only .

For Salaried/ Pensioners transfer to KMBL Individual

A. Loan amount up to PKR 02 Million: (Home Improvement & Renovation Purpose):

• Salary / Pension Transfer to KMBL. (Mandatory)
• Proof of residence (bill or document, rent agreement or affidavit etc.) Mandatory
• PDC Mandatory
• Guarantor (as per recommendation of BCC)
• Co-borrower (where applicable)
• Co-Signer (where applicable)

B. Loan amount from 02 Million to PKR 03 Million: (Home Improvement & Renovation Purpose):

• Salary / Pension Transfer to KMBL. (Mandatory)
• Equitable mortgage: The original title document will be retained at branch and MODTD shall be issued.
• Photocopy of title document & MODTD will be attached with credit case. Mandatory
• PDC Mandatory
• Co-borrower (where applicable)
• Co-Signer (where applicable)

• External Valuation Criteria:

External valuation should be carried out where;
a. Loan ticket size is above PKR 2.0 Million, irrespective of collateral (property/ plant/ machinery) value
AND/ OR
b. Collateral (property/ plant/ machinery) value is above PKR 3.0 Million, irrespective of loan size.
Note: Above mentioned changes are not applicable on agri loans (development & production) i.e. loans against agri pass books/ PLRA.

• Stamp paper, Shamillat property & affidavit-based financing will only be allowed in case of salary/pension account transfer to KMBL (loan amount up to PKR 01 Million only).
• Only Home renovation/improvement loans can be sanctioned against personal guarantees/collaterals other than Mortgage. For purchase of land/home or construction of home, property will be mortgaged in favor of KMBL.
• The amount disbursed for purchase of plot (for construction of home) must not exceed the 90% of the market value/cost of land/plot and 50% of the financing limit. The remaining amount shall be disbursed for construction there-upon.
  

Loan Ticket (minimum & maximum)

PKR 50,000 to PKR 3,000,000

Service charges

As per SOC, for more information please contact on our helpline 051 111 047 047