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We believe, a home is a place where the heart and mind are at peace. Bank AL Habib, keeping its long and recognized history for customer oriented products and services, now offers Roshan Apna Ghar (RAG) housing finance facility for Non-Resident Pakistanis having a Roshan Digital Account at BAHL.

This product is categorized into two sub-categories:

  • RAG Standard Housing Finance Facility (SHFF).
  • RAG Government Markup Subsidy Scheme (G-MSS).

BAHL housing finance is available for:

  • Home Buying.
  • Home Construction.
  • Plot Purchase & Construction.
  • Renovation for SHFF / Expansion for G-MSS.

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Assessment Criteria for Builders or Developers

Product Features

  • Low and competitive mark-up rates.
  • Tenure of financing: up to 25 years.
  • Co-applicant option available (Spouse, Children, Parents, and Brother(s)).
  • Flexibility to make partial pre-payments with zero charges after first year.
  • For First year 1% will be charged upon Early Termination after words NO charges will be levied.
  • Repayment in equal monthly installments.

Eligibility Criteria

  • Non-Resident Pakistani (NRP) having a Roshan Digital Account at BAHL.
  • Valid and verifiable source of income.
  • Aggregate Debt Burden Ratio up to 50% of Net Income.
  • Age: Minimum 25 Years; Maximum 60 years for Salaried, 65 years for Non-Salaried. Maximum age of salaried may be extended to 65 years based on justification that he/she can repay even after retirement age.
  • Employment/Business Tenure: Minimum 2 years.
  • Satisfactory credit history.
  • Up to 4 Co-applicants may be added:
    • Resident Pakistani is mandatory for non lien based facility.
    • Only NRP may be added for income clubbing.
    • For lien based facility, co-applicant is optional.

Insurance

  • Free property Insurance.
  • Optional Life Insurance at customer cost.

Applicable Financing Rate

Variable Rate
  • Without lien: 1 Year KIBOR + 1.5%.
  • With lien: 1 Year KIBOR.
Fixed rate (5- Years) (where applicable)
  • Without lien: 5 Year PKRV* + 1.5%.
  • With lien: 5 Year PKRV*.

* Pakistan revaluation rate (PKRV) as published by Financial Markets Association of Pakistan.

For lien based facility, lien to be marked on deposit account or Naya Pakistan Certificate on minimum of financing amount.

For fixed rate option, customer may either continue on fixed rate or variable rate after 5th year.

Financing Range

Non-Lien Based
  • Minimum: 500,000/-.
  • Maximum 100 Million for purchase, 50 Million for Construction, 20 Million for improvement of house / 5 Million for appartment.
Lien Based
  • Minimum: 500,000/-.
  • Maximum 100 Million for purchase, 50 Million for Construction, 10 Million for improvement.

Documents Required

  • From Applicant

    Valid Documents already provided for Roshan Digital Account would not be required again.

    Salaried Individuals

    • Duly filled application form.
    • Applicant’s copy of NICOP (Copy of POC is also acceptable for lien based).
    • Two passport-sized coloured photographs of applicant.
    • Employer's certificate including tenor/designation/renumeration details.
    • Employment Contract (if applicable).
    • Last three-month salary slip.
    • Copy of Passport (if applicable/optional).
    • Copy of Visa / Work permit / Residence Permit (Iqaama etc.).
    • Copy of Professional Association Membership Certificate / Practice License (if applicable).
    • Bank Statement - last 12 months (Original OR duly attested by the bank with stamp / notary public) through embassy.
    • Copies/ details of any financing facility being availed in the country of employment or in Pakistan.
    • Copies of educational qualification degree / certificates.
    • Copy of Rental Documents (if applicable).
    • Copy of recent Credit Card Bills. (if applicable).
    • Copies of last 2 years tax documents (where applicable).
    • Credit Bureau Report of stay country.

    Non-Salaried Individuals

    • Duly filled application form.
    • Applicant’s copy of NICOP (Copy of POC is also acceptable for lien based).
    • Two passport-sized coloured photographs of applicant.
    • Valid Business Proof.
    • Copy of Passport (if applicable/optional).
    • Copy of Visa / Work permit / Residence Permit (Iqaama etc.).
    • Bank Statement - last 12 months (Original OR duly attested by the bank with stamp / notary public) through embassy.
    • Copies/ details of any financing facility being availed in the country of employment or in Pakistan.
    • Copies of educational qualification degree / certificates.
    • Copy of Rental Documents (if applicable).
    • Copy of recent Credit Card Bills. (if applicable).
    • Copies of last 2 years tax documents (where applicable).
    • Credit Bureau Report of stay country.
  • Income clubbing only of NRP(s) is allowed, where all documents mentioned for applicant would be required from co-applicant as well. For no income clubbing, following documents are required:

    • Copy of Co-Applicant's CNIC/ NICOP.
    • Two passport-sized coloured photographs of co-applicant(s) each.

Product Features

  • Low markup rate, fixed for first 10 years.
  • Tenure of Financing: 5-20 years.
  • Co-applicant option available (Spouse, Children, Parents, and Brother(s)).
  • No charges for early settlement and balloon payment.
  • Repayment in equal monthly installment.

Eligibility Criteria

  • First time home owner, and one unit per household.
  • Non-Resident Pakistani (NRP) having a Roshan Digital Account at BAHL.
  • Valid and verifiable source of income.
  • Aggregate Debt Burden Ratio up to 50% of Net Income.
  • Age: Minimum 25 Years; Maximum 60 years for Salaried, 65 years for Non-Salaried. Maximum age of salaried may be extended to 65 years based on justification that he/she can repay even after retirement age.
  • Employment/Business Tenure: Minimum 2 years.
  • Satisfactory credit history.
  • Up to 4 Co-applicants may be added.
    • Resident Pakistani is mandatory for non lien based facility.
    • Only NRP may be added for income clubbing.
    • For lien based facility, co-applicant is optional.

Insurance

  • Free life Insurance.
  • Property Insurance Coverage at customer cost.

Product Pricing & Basic Parameters

Subsidized Markup RateMaximum Property SizeMaximum Property ValueMaximum FinancingConditions
Tier 1
(NAPHDA)
  • First 5 years = 3%
  • Next 5 years = 5%
  • For period exceeding 10 years = 1-year KIBOR+2.5%
  • House upto 125 sq yds (5 Marla) with maximum covered area of 850 sq ft
  • Flat / apartment with maximum covered area of 850 sq ft
PKR 3.5 MillionPKR 2.7 MillionOnly for first time home owner, one unit per household
Tier 2
(Non-NAPHDA)
  • First 5 years = 5%
  • Next 5 years = 7%
  • For period exceeding 10 years = 1-year KIBOR+4%
  • House upto 125 sq yds (5 Marla)
  • Flat / apartment with maximum covered area of 1,250 sq ft
No CapPKR 6.0 Million
Tier 3
(Non-NAPHDA)
  • First 5 years = 7%
  • Next 5 years = 9%
  • For period exceeding 10 years = 1-year KIBOR+4%
  • House upto 250 sq yds (10 Marla)
  • Flat / apartment with maximum covered area of 2,000 sq ft
No CapPKR 10.0 Million

Documents Required

  • From Applicant

    Valid Documents already provided for Roshan Digital Account would not be required again.

    Salaried Individuals

    • Undertaking of first time home ownership.
    • Duly filled application form.
    • Applicant’s copy of NICOP (Copy of POC is also acceptable for lien based).
    • Two passport-sized coloured photographs of applicant.
    • Employer's certificate including tenor/designation/renumeration details.
    • Employment Contract (if applicable).
    • Last three-month salary slip.
    • Copy of Passport (if applicable/optional).
    • Copy of Visa / Work permit / Residence Permit (Iqaama etc.).
    • Copy of Professional Association Membership Certificate / Practice License (if applicable).
    • Bank Statement - last 12 months (Original OR duly attested by the bank with stamp / notary public) through embassy.
    • Copies/ details of any financing facility being availed in the country of employment or in Pakistan.
    • Copies of educational qualification degree / certificates.
    • Copy of Rental Documents (if applicable).
    • Copy of recent Credit Card Bills. (if applicable).
    • Copies of last 2 years tax documents (where applicable).
    • Credit Bureau Report of stay country.

    For Businessmen & SEP (Self Employed Professional)

    • Undertaking of first time home ownership.
    • Duly filled application form.
    • Applicant’s copy of NICOP (Copy of POC is also acceptable for lien based).
    • Two passport-sized coloured photographs of applicant.
    • Valid Business Proof.
    • Copy of Passport (if applicable/optional).
    • Copy of Visa / Work permit / Residence Permit (Iqaama etc.).
    • Bank Statement - last 12 months (Original OR duly attested by the bank with stamp / notary public) through embassy.
    • Copies/ details of any financing facility being availed in the country of employment or in Pakistan.
    • Copies of educational qualification degree / certificates.
    • Copy of Rental Documents (if applicable).
    • Copy of recent Credit Card Bills. (if applicable).
    • Copies of last 2 years tax documents (where applicable).
    • Credit Bureau Report of stay country.
  • Income clubbing only of NRP(s) is allowed, where all documents mentioned for applicant would be required from co-applicant as well. For no income clubbing, following documents are required:

    • Copy of Co-Applicant's CNIC/ NICOP.
    • Two passport-sized coloured photographs of co-applicant(s) each.

Applicant Journey / Process Flow For Roshan Apna Ghar

  • Lien Based Financing
    • Roshan Digital Account holder will visit the Roshan Apna Ghar web page, submit the Application Form, information of nominee living in Pakistan, and required documents.
    • Bank will analyze the application and may require any other information / document(s).
    • The applicant will arrange to provide documents of intended financing property (if not provided earlier).
    • Upon satisfaction of the bank, the facility will be approved and intimated to Applicant.
    • The applicant would be required to open a Roshan Digital PKR Account (if previously not available).
    • If the Applicant is in Pakistan or visiting within 60 days from the date of approval, legal agreements will be executed here in Pakistan. Otherwise, the bank will dispatch Legal Documents to the applicant’s registered address.
    • The applicant will sign the documents and will send them back to the bank’s address. In case of co-applicant(s) living abroad (where opted by the applicant), the same process will also be applied for the co-applicant(s).
    • Co-applicant living in Pakistan (if opted by the applicant) will also sign the legal documents.
    • Bank will disburse the facility and prepare the banker’s cheque in favor of the seller.
    • The property will be transferred at concerned registrar/society/authority office.
    • Banker’s cheque will be handed over to the seller through nominee after completion of all necessary formalities including Title Transfer.
    • The Nominee will provide copies of title documents including sale deed for bank's record.
    • Roshan Digital Account holder will visit the Roshan Apna Ghar web page, submit the Application Form, information of at least one co-applicant living in Pakistan, and required documents.
    • Bank will analyze the application and may require any other information / document(s).
    • The applicant will arrange to provide documents of intended financing property (if not provided earlier).
    • Upon satisfaction of the bank, the facility will be approved and intimated to the Applicant.
    • The applicant would be required to open a Roshan Digital PKR Account (if previously not available).
    • If the Applicant is in Pakistan or visiting within 60 days from the date of approval, legal agreements will be executed here in Pakistan. Otherwise, the bank will dispatch Legal Documents to the applicant’s registered address.
    • The applicant will sign the documents, arrange the endorsement by the Pakistani Embassy, and will send them back to the bank’s address. In case of co-applicant(s) living abroad, the same process will also be applied for the co-applicant(s).
    • Co-applicant living in Pakistan will also sign the legal documents.
    • Bank will disburse the facility and prepare the banker’s cheque in favor of the seller.
    • The property will be transferred at concerned registrar/society/authority office.
    • Banker’s cheque will be handed over to seller after completion of all necessary formalities including Title Transfer and subject to mortgage creation.
    • Bank will enlist off-plan projects after assessment and necessary approvals and arrangements.
    • Roshan Digital Account holder will visit the Roshan Apna Ghar web page, submit the Application Form, information of atleast one co-applicant living in Pakistan (optional for lien based financing), choosing the off-plan project, and required documents.
    • Bank will analyze the application and may require any other information / document.
    • Builder / Developer will provide documents of intended financing property and will issue a letter of lien in favor of the bank.
    • Upon satisfaction of the bank, the facility will be approved and intimated to the applicant.
    • The applicant would be required to open a Roshan Digital PKR Account (if previously not available).
    • If the applicant is in Pakistan or visiting within 60 days from the date of approval, legal agreements will be executed here in Pakistan. Otherwise, the bank will dispatch Legal Documents to the applicant’s registered address.
    • The applicant will sign the documents, arrange the endorsement by the Pakistani Embassy for non-lien based facility / recording of view for lien based facility, and will send them back to the bank’s address. In case of co-applicant(s) living abroad, the same process will also be applied to the co-applicant(s).
    • Co-applicant living in Pakistan (where applicable) will also sign the legal documents.
    • Builder / Developer will provide security documents and guarantee to the bank.
    • Milestone based disbursement will be performed and tranche-wise payment to be made through the escrow account.
    • The property will be transferred at concerned registrar/society/authority office after its completion.

Process For General Power Of Attorney (GPA)

  • Where the applicant is unable to visit Pakistan for purchasing immovable property in his/her name, which may be purchased through GPA subject to acceptance of respective registration authority. The process of GPA is here under;
    • The applicant will sign GPA in favor of Attorney (format attached) and arrange attestation of Pakistani embassy.
    • The applicant will dispatch attested GPA to his/her attorney in Pakistan.
    • The attorney will arrange counter attestation from Foreign Office in Pakistan and get it registered from the respective registrar office.
    • The attorney will present the same at registrar office for property registration/transfer and creation of mortgage in Banks favour.

Frequently Asked Questions (FAQs)

Procedure For Enlistment Of Builders / Developers

  • Eligibility Criteria:
    • Builder / Developer / Team should possess a valid builder developer license from the building control authority, where applicable.
    • Builder / Developer / Team should preferably have a 3 years track record of developing and delivering projects.
      In Addition, copies of following documents (as required and applicable) may be obtained to further assess eligibility;
    • Basic incorporation document (i.e. Registration Certificate, Memorandum and Articles of Association / Partnership Deed etc.).
    • Pakistan Engineering Council (PEC) certificate and experience certificates (or evidence of application for the same if under process).
    • List of recently completed projects (if any), along with copies of Completion Certificates submitted to concerned authorities.
    • Latest audited / management accounts / income tax returns.
    • Concept plan.
    • Documents relating to title / ownership of the project inter-alia, non-encumbrance certificate / approvals from concerned authority for construction / sale of the housing units, etc.
    • Valuation of project plot / land assessed by a firm on the Bank’s approved panel.
    • Feasibility of the proposed project containing financial projections, and completion timelines.
    • Any other document(s) required by the Bank to process the application.
  • Bank will assess the builder / developer by:
    • Visiting the premises of completed, under process, and upcoming projects.
    • Analyzing the available information / documents.
    • Seeking the legal opinion.
  • After satisfaction by the bank, both parties will enter into MOU / Agreement.
  • Builder will update key features of their projects on their website and will provide the link to the bank.
  • Bank will update the link on its website, and may add key features of projects where feasible.