Allied Bank Limited is committed to helping you on account to find the right home financing plan scheme for your needs. We understand that every borrower is different, and we have a variety of payment options to meet your individual needs. Allied Bank offers golden opportunity for homeless people in order to provide Allied Bank Home Loan Scheme along with low interest rate.
Allied Bank Limited has formulated a number of financing solutions for its clients so that they can fulfill the dream of building or buying their own homes. In addition to the loan for the construction of houses, the Bank is also providing solutions to buy houses or apartments already built, buy land and build houses on it and renovate residential properties
Allied Bank Home Loan Scheme Detail
Purchases: Clients can purchase a home or apartment loan package to purchase an already built home or apartment
Construction: This is a basic loan for the construction of houses in which the client can obtain financing to start with the construction of a house on available land.
Purchase of land and construction: With this type of mortgage loan, the client can obtain financing both for the purchase of land and for construction.
Home Renovation – In case you just need financial support to renovate your existing house or apartment, you can choose this option
Loan Transfer – If you already have a home loan purchased from another bank, you can transfer it to Allied Bank with this service, at a lower margin rate
Solar Power System – If you are looking to install a solar power system in your home, you can get this loan at a discounted premium rate under a scheme introduced by the State Bank of Pakistan (SBP)
Allied Bank Home Loan Scheme Eligibility Criteria
- You are eligible for Allied Bank home financing if:
- You are a Pakistani citizen
- You are between 25 and 57 years old
- In case of salaried individual
- Minimum relationship of six (06) months with ABL and / or any other bank
- Minimum net monthly salary of Rs 50,000 / –
- In the case of self-employed / self-employed professional
- Maintain a minimum relationship of one (01) year with ABL or a minimum relationship of two (02) years with any other bank.
- The duration of the respective business / profession is a minimum of two (02) years in the case of a relationship with ABL or a minimum of three (03) years in the case of a relationship with any other bank.
- Minimum net income of Rs 75,000 / – per month in case of ABL relationship or Rs 100,000 / – per month in case of any other bank relationship
Allied Bank Home Loan Scheme Benefits
- Quick and easy processing
- Financing up to Rs 40 million
- Reimbursement tenure ranging from 3 years to 25 years
- Loan Transfer Service with Low Margin Rates
- Free life insurance
- Solar system financing facility under renovation
- Currently, this facility is offered in only eight cities, including Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, Gujranwala, Sialkot, and Multan.
Allied Bank Low Cost Housing Financing
In compliance with SBP Circular IH and SMEFD Circular no. 5 of 2019 (as periodically modified), the Low Cost Home Financing Facility under the Refinance Scheme will be offered only to the following individuals:
- Sons of Martyrs (Shaheed) of the forces of order and the forces of order and the armed forces and civilians martyred in a terrorist attack
- Special person’s holders of the CNIC with logo / symbol of disability.
- Transgender and
- Financing under special segment: Minimum 0.5 to 2.7MN
- Minimum net income (verifiable): 30,000 / –
- Duration: up to 12.5 years, including a 6-month grace period, or advised by SBP from time to time
Allied Bank Home Loan Scheme Required Documents
The following basic documents are required to apply for Allied Home Finance:
- Bank statement for the last six months (ABL / Any other bank, as the case may be)
- Copy of CNIC / Smart NIC
- Admission Test
- Completed and duly signed “application form”
Allied Bank Home Loan Scheme Calculator
Disclaimer: This is an indicative calculation that does not include the amount of insurance; the final amount of the fee may differ.
How to Apply Allied Bank Home Loan Scheme
In order to apply for Allied Bank Home Loan Scheme, you should visit your nearest Allied Bank Branch.