Cash Finance

The smartest way of fulfilling your personal & family needs, while keeping your savings intact. Now take advantage of a hassle-free personal loan at the most competitive rate against your National Savings Certificates, Pak Rupee/Foreign Currency Deposits & First Habib Cash Fund units. The AL Habib Cash Finance is a secured personal loan which offers both Running Finance Facility (RF), which is a Revolving line of Credit with quarterly mark-up servicing, and a Term Finance Facility (TF), for a period of 1 Year to 5 years, to make your repayments easier with equal monthly installments.

SALIENT FEATURES
  • Prompt & Hassle Free Processing
  • Balance Transfer Facility is also available
  • No Processing Fee
  • Documentation Charges (At Actual).
  • No Pre-payment Penalty
  • Third Party security of Bank AL Habib Deposit is allowed
  • Free ATM/ Debit Card
  • Free Online Banking
  • Free e-Statement/ Internet Banking Facility
ELIGIBILITY CRITERIA
  • All Resident Pakistani Individuals such as Salaried, Self Employed & Business Persons.
  • Satisfactory Credit History
Required Documentation

ALHABIB CASH FINANCE Application Form
Copy of CNIC
BBFS
Latest salary slip / Salary Certificate (For salaried person)
Bank Account Statement for last six Months (For Business Person)
Any other document of income proof, if available
Currently Liability declaration as per the prescribed SBP format)

FINANCE AMOUNT
  • Minimum Finance amount is Rs. 50,000/-
  • Maximum (90% against PKR Deposits / Encashment value of Securities and 85% on FCY Deposits)
PRICING

Financing upto Rs. 5.0 Million Against Bank AL Habib PKR Deposits

  • Running Finance: 2.00% over Deposit Rate
  • Term Finance: 1.50% over Deposit Rate

Financing upto Rs. 5.0 Million (Against FCY Deposits and Permissible Government Securities)

  • Running Finance: 2.00% over 3 Months Kibor
  • Term Finance:l 1.50% over 1 Year Kibor

For Financing of over Rs 5.0 Million

  • Running Finance: 1.50% over 3 Months Kibor
  • Term Finance: 1.25% over 1 Year Kibor

Aggregate Debt Burden

  • 50% of net disposable income
FAQs

Q. What kind of financing facility does the Bank provide under AL Habib Cash Finance? 

A. We offer both Term Finance (TF) & Running Finance (RF) Facility for individuals to meet their personal, family or household needs.

Q. What is the amount of financing offered under AL Habib Cash Finance?

A. Minimum Finance amount is Rs. 50,000/- . Maximum (90% against PKR Deposits / Encashment value of Securities and 85% on FCY Deposits).

Q. What is the mark-up rate?

A. For amount up to 5 Million: In case of PKR Deposit with BAHL taken as security, minimum 2.00% spread on deposit rate for Running Finance and 1.50% on deposit rate for Term Finance. In case of FCY Deposits and Permissible Government Securities taken as security minimum 2.00% over on 3 Months KIBOR for Running Finance and 1.50% on 1 Year KIBOR for Term Finance.

B. For amount over 5 Million : Running Finance: 1.50% over 3 Months Kibor
  Term Finance: 1.25% over 1 Year Kibor

Q. What is the frequency of mark up repayment? 

A. Quarterly mark-up payable in Running Finance is payable within 15 days of its becoming due. Monthly mark-up payable will be included in Equal Monthly Installment for Term Finance. Late Payment charge of Rs. 500/- shall be applicable after due date. (in case of Post Dated Cheques)

Q. What is the security that I will have to offer to avail AL Habib Cash Finance?

A. Defence Saving Certificates, Special Savings Certificates & Regular Income Certificate issued by the Government of Pakistan under the National Saving Schemes and purchased through Banks, State Bank of Pakistan Offices and National Saving Centers shall be acceptable as security. 

Q. Will third party security be acceptable? 

A. Yes, it shall be only acceptable if the third party is a BAHL Accountholder.

Q. Will the facility be extended against third party certificate holders? 

A. No. Only certificate holder shall be facilitated.

Q. Can my Behold Certificates be considered as security? 

A. No. As per SBP regulations, only DSCs, SSCs, RICs are acceptable.

Q. What is the processing fee for this facility? 

A. There is no processing fee for the AHCF Facility; however, documentation charges are at actual.

Q. What conversion rate would be applicable on FCY Deposit? 

A. Bank would be taking prevalent selling rate (applicable on the day) for calculating the facility limit.

Q. How is the loan entitlement calculated?

A. AL Habib Cash Finance shall not exceed 90% of the encashment value of the security offered. In case of financing against Foreign Currency Deposit, the maximum financing should not exceed 85% of the deposit encashment value. 

Q. What is the clean-up requirement under AL Habib Cash Finance?

A. There is no clean-up requirement.