Bank AL Habib ApniCar Auto Finance facility leads to your dream car through convenient repayment plans.
Pakistani Nationals
Account holder of any Bank
Salaried person, Businessman or Self-employed
Individuals having other source of income i.e. Remittance, Rental, or Investments may also apply if they maintain satisfactory account at Bank AL Habib
Our highly trained executives will take care of your financing requirements
The only thing you need to worry about is choosing the car and its colour
Yes if you are:
Following Categories are being offered in Bank AL Habib Car Financing:
Upto PKR 4,000,000/-. Above PKR 4,000,000/- financing may be considered on case to case basis.
The loan can be availed from 1-5 years. 6-7 years financing is allowable for brand new Toyota, Honda, and Suzuki vehicles.
Minimum Down Payment varies in accordance with the variant and the model of vehicle
You have to pay equity in the vehicle price, processing fee, and first year’s insurance premium.
We have arrangements with various renowned insurance companies which offer special rates for Bank AL Habib customers.
You need to repay through Direct Debit Authority.
Yes, you have the option to repay the loan at any time during the tenure of the loan.
Yes. Partial payments can be made twice a year without any fee(after every six months) with a minimum of PKR 50,000/-.
The reconditioned/imported car should not be older than 5 years from the date of manufacturing if it is above 1000cc or unregistered. If the vehicle is registered and upto 1000cc, than it should not be older than 3 years from date of manufacturing.
The Bank arranges for the valuation through its panel of approved surveyors/valuators.
The vehicle is the security, which will be hypothecated in favor of Bank AL Habib through Motor Registration Authority.
We believe, 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 introduces “AL Habib Housing Finance” which will facilitate its customers for:
Must be Pakistani National.
Minimum 1 year relation with any bank(s).
Debt Burden Ratio (DBR): Up to DBR 50% aggregate of Net Income.
Age: Minimum 25 Years. Maximum 60 years for Salaried; & 65 years for Self Employed Professional (SEP) and Self Employed Business men (SEB) at maturity of financing.
Employment/Business Tenure: Minimum 2 years for Salaried and SEP, 3 Years for SEB.
Minimum Income: Rs.60,000/- per month take home for Salaried and Rs.100,000/- per month for SEP / SEB
Satisfactory credit history
Co-borrower with minimum net take home income Rs.30,000 may be added for income clubbing and property ownership purposes.
Property Insurance Coverage at customer cost
Variable Rate i.e. 1 Year KIBOR (subject to review on each anniversary of loan) plus bank’s spread (fixed during the entire tenure of the loan)
For Buying, Construction, balance transfer & Renovation | 1 to 25 years. |
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Purchase | PKR 0.3M to 50M |
Construction | PKR 0.3M to 35M |
Renovation | PKR 0.3M to 15M |
Balance Transfer | PKR 50 Million |
Bank AL Habib has exclusive arrangements with PBA approved valuators for this purpose.
The stages are as follows:
Plinth Stage | 30% |
Structure completion | 30% |
Finishing Stage | 40% |
From last 1 year bank statement or income estimation whichever is applicable.
A representative from our approved income estimation agency will visit your place of business/work and appraise your income level, by going through the documents provided by you.
An account for you will be opened at the branch, closest and the most convenient to you. You will be required to deposit funds sufficient to afford a monthly installment in that account. A direct debit instruction from you in favor of Bank AL Habib would then allow us to debit the installment amount from your account on monthly basis.
If you already have an account with Bank AL Habib, you can give direct debit standing instructions in favor of Bank AL Habibwhich would allow us to debit the installment amount from your account on monthly basis.
We have provided you the basic information you need to know about Bank AL Habib Home Loan. If you wish to know more, you may visit any of our Bank AL Habib branch. Our designated Retail Credit /Account Officers in branches are available for your guidance.
Once you have decided on the amount you want, fill the Application Form available in all the branches and pass it on to us, together with the required documents for a formal process of the loan application and initial approval.
We carry out a property valuation, legal opinion on property documents through our approved valuators and lawyers, life & property insurance coverage.
Our Relationship Managers shall get in touch with you to complete Finance & Charge documentation for execution and signing.
Our legal advisor and bank’s representative will accompany you to the Registrar’s office on the appointed date with our cheque for final transaction.
All applications to be processed as per bank's internal procedure, and applicable laws and regulations.
Bank AL Habib along with the Government of Pakistan and with the support of the State Bank of Pakistan offers an affordable and flexible Housing Finance Scheme. With the help of this scheme, you can turn your dream of owning a home into a reality and secure your future.
Avail this facility through our Conventional and Islamic Banking branches.
Free Life Insurance
Subsidised Markup Rate
Financing up to PKR 5 Million
Minimum Monthly Income Required: PKR 25,000/-
Available for up to 20 years
Easy Documentation
Quick Processing
No restrictions and no charges on early repayment
All men / women holding valid CNIC.
First time home owner, one unit per household.
One individual can have subsidized house loan facility under this scheme only once.
Minimum Monthly Income Required: PKR 25,000/-
Construction
First purchase of newly constructed housing unit
Purchase of plot and construction thereupon
Expansion / Extension of existing housing unit
25 to * 60 years
*at maturity
10 / 15 / 20 years, depending upon the choice of the customer
No restrictions and no charges on early repayment
Property Insurance
Free Life Insurance
Parameter | Project Scheme |
---|---|
Tier 1 | Naya Pakistan Housing Development Authority (NAPHDA) |
Tier 2 | Non – NAPDHA /Single House/Unit |
Tier 3 | Non – NAPDHA /Single House/Unit |
Parameter | Size of Housing Unit |
---|---|
Tier 1 | Housing unit / apartment of up to 125 square yards (up to 5 Marla) with covered area of up to 850 square feet. |
Tier 2 | Housing unit / apartment of up to 125 square yards (5 Marla) with covered area of up to 850 square feet |
Tier 3 | Housing unit / apartment of more than 125 square yards and up to 250 square yards (10 Marla) or covered area from more than 850 square feet to 1,100 square feet. |
Mark-up rates for loans up to 10 years are given hereunder:
Parameter | End User Pricing (Subsidy Rate) | Bank Pricing | |
---|---|---|---|
Tier 1 | First 5 years | 5% | 1 Year KIBOR + 250 BPS for period exceeding 10 years |
Next 5 years | 7% | ||
Tier 2 | First 5 years | 5% | 1 Year KIBOR + 400 BPS for period exceeding 10 years |
Next 5 years | 7% | ||
Tier 3 | First 5 years | 7% | |
Next 5 years | 9% |
Market value of a single housing unit at the time of approval of financing is as under:
Parameter | House Value |
---|---|
Tier 1 | PKR 3.5mn |
Tier 2 | PKR 3.5mn |
Tier 3 | PKR 6.0mn |
Parameter | Loan Amount |
---|---|
Tier 1 | PKR 2.7mn |
Tier 2 | PKR 3.0mn |
Tier 3 | PKR 5.0mn |
Bank AL Habib Limited persistently works towards providing convenience and value added services to its customers and is pleased to announce a Financing Scheme for Renewable Energy Solution under Category-II for personal residential use only.
To cater the housing needs of an individual customer, looking to install renewable energy source solutions to generate electricity up to 1 MW.
Maximum Financing limit up to Rs 1,500,000/-.
Customer Equity Participation minimum 25%.
Repayment in equal monthly installments (during 3 a months’ grace period only mark-up will be recovered).
Full payment - Allowable without any charges.
Partial payment - Allowable without any charge.
Unit/Project payment will be made to manufacturers / suppliers / contractors only by bank.
Mandatory Insurance of the unit installed. Life Insurance of applicant (conditions apply). Cost of insurance to be borne by the customer.
The loan shall be available for installing only brand new units/projects under this category.
Sale or renting out of housing units, financed under this scheme, will not be allowed until full adjustment of outstanding finance or five (5) years after the date of first disbursement or, whichever is earlier.
Pakistani Nationals.
Minimum age should be 25 years. Maximum age at the time of loan maturity should not exceed 60 years for salaried employees and 65 years for Businessmen / Self Employed Professionals (SEP).
Salaried individuals must be a permanent employee for at least 2 year of employment track record.
3 Years minimum business tenure for Businessmen.
2 Years minimum business tenure for SEP.
Minimum net take home salary should be at least Rs.60,000/- and for Businessmen / SEP Rs.100,000/- per month.
Spouses can be made co-borrower for income clubbing and property ownership purposes (conditions apply).
The borrower must own his/her residential housing unit /flat / apartment.
Consolidated borrowing of a single borrower under this category shall not exceed Rs.400 million from any Bank/DFI.
Loan will be approved based on the income of the applicant subject to meeting the Debt Burden Requirement (DBR) or maximum 75% of the invoice / quotation value (whichever is lower).
Bank AL Habib has now also started to cater Financing Facility for Low Cost Housing for Special Segments. The purpose of the loan is to make low cost housing affordable to lower middle and low income segment for only Construction of his/her house.
Widows.
Children of Martyrs (Shaheed) of law & enforcement agencies, armed forces and Civilians martyred in terrorist attacks.
Special persons holding CNIC / SNIC with disability logo/ symbol.
Transgender.
Persons who desire to construct (including plot purchase) housing units in the Mohmand, Bajaur, Orakzai, Kurram, Khyber, North Waziristan and South Wazirstan districts of Khyber Pakhtunkhwa.
All customers must fulfill the following requirements to be eligible for Bank AL Habib low cost housing finance for special segments:
Must be a Pakistani national.
Valid CNIC / SNIC / NICOP
Borrower’s Age:
Minimum 18 years
Maximum 60 years for Salaried*
65 years for Self Employed Professional/ Business Persons*
70 years for Widows*
*at loan maturity
Individuals in the above categories can avail financing subject to following eligibility criteria / conditions:
The borrower must not own any residential housing unit /flat / apartment. The borrower must not have availed housing finance previously from any bank/DFI. The loan shall be available only for construction (including plot purchase) of new housing unit. Maximum value of the housing unit, being financed under this scheme, shall be PKR 3 million (including plot value).
Sale or renting out of housing unit, financed under this scheme, shall not be al-lowed until full adjustment of outstanding finance or five (5) years after the date of first disbursement or, whichever is earlier.
All customers must fulfill the following requirements to be eligible for Bank AL Habib housing finance product:
Fixed at 5%.
Nearest Branch of Bank AL Habib
Fixed at 5.0%.
12½ years for all Special Segments.
Bank AL Habib has exclusive arrangements with PBA approved valuators for this purpose.
All expense incurred on property valuation / BBQ assessment will be made borne by the
customer.
The stages are as follows:
Plinth Stage 30%
Structure completion 30%
Finishing Stage 40%
We will assess your income by acquiring all such documents that are verifiable and prove your income.
If necessary a representative from our approved evaluation firm will visit your place of business/work by taking a prior appointment with you and appraise your income level, by going through the documents and data provided by you.
An account for you will be opened at our branch, closest and the most convenient to you. You will be required to deposit funds sufficient to afford a monthly installment in that account. A direct debit instruction from you in favor of Bank AL Habib would then allow us to debit the installment amount from your account on monthly basis.
If you already have an account with Bank AL Habib, you can give direct debit standing instructions in favor of Bank AL Habib which would allow us to debit the installment amount from your account on monthly basis.
As per bank’s Schedule of Charges
If the case is to purchase plot plus construction then maximum Rs.1 million can used for plot purchase and payment will be made to the original seller. The remaining Rs.1.7 million will be paid to applicant in stages as defined above
Bank AL Habib Cash Finance is a hassle-free secured personal loan that provides cash for your need at the most competitive rate against your National Savings Certificates, Pak Rupee/Foreign Currency Bank AL Habib Deposits & First Habib Cash Fund units
Al Habib Cash Finance works in two ways
Running Finance Facility (RF), a Revolving line of Credit with quarterly mark-up servicing
Term Finance Facility (TF), 1 Year to 5 years, repayments in equal monthly installments.
*Customers can avail free PayPak Debit Card on the condition of maintaining a minimum monthly average balance of PKR 25,000/- However, you can also opt for a Visa or UnionPay Card. Charges will be applicable as per prevailing Schedule of Bank Charges.
Resident Pakistanis such as Salaried, Self Employed & Business Individuals.
Having Requirement of funds for personal use.
Having Satisfactory Credit History.
Minimum Finance amount is PKR 50,000/-.
Maximum 90% against PKR Deposits / Encashment value of Securities and 85% on Foreign Currency Deposits.
Financing upto PKR 5.0 Million Against Bank AL Habib PKR Deposits
Financing upto PKR 5.0 Million (Against Foreign Currency Deposits and Permissible Government Securities)
For Financing of over PKR 5.0 Million
We offer both Term Finance (TF) & Running Finance (RF) Facility for individuals to meet their personal, family or household needs.
Minimum Finance amount is PKR 50,000/-. Maximum (90% against PKR Deposits or Encashment value of Securities, and 85% on Foreign Currency Deposits).
For Financing up to Rs. 5 Million | For Financing Above Rs. 5 Million | |||
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Running Finance | Term Finance | Running Finance | Term Finance | |
Against Bank AL Habib PKR Deposit | 2.0% over Deposit Rate | 1.5% over Deposit Rate | 1.5% over Deposit Rate | 1.25% over Deposit Rate |
Against Bank AL Habib Foreign Currency Deposit, and Permissible Government Securities | 2.0% over 3 Month KIBOR | 1.5% over 1 Year KIBOR | 1.5% over 3 Month KIBOR | 1.25% over 1 Year KIBOR |
Against Bank AL Habib Foreign Currency Savor Deposit | 3 Month KIBOR | 6 Month KIBOR | 3 Month KIBOR | 6 Month KIBOR |
Against First Habib Cash Fund | 2.0% over 3 Month KIBOR | 1.5% over 3 Month KIBOR | 1.5% over 3 Month KIBOR | 1.25% over 3 Month KIBOR |
Quarterly mark-up in Running Finance is payable within 15 days of it’s becoming due. Monthly mark-up payable will be included in Equal Monthly Installment for Term Finance. Late Payment charge of PKR 500 shall be applicable after due date
Bank AL Habib Deposit and / or Defence Saving Certificates, Special Savings Certificates, Regular Income Certificate, Market Treasury Bills, Pakistan Investment Bonds, and Premium Prize Bonds shall be acceptable as security.
Yes, Bank AL Habib Deposit/ Govt Securities both are acceptable.
No. As per SBP regulations, only DSCs, SSCs, RICs are acceptable.
There is no processing fee for the AL Habib Cash Finance Facility; however, documentation charges are at actual.