U Bank Home Loan Subsidy 2021

U Microfinance Bank provides housing finance to business and salaried individuals for the purchase of a new house or flat, construction of a house or extension of an existing house under the government’s mark-up subsidy scheme.

U Bank Home Loan Subsidy Basic Product Purpose

  • To buy or build a house or flat
  • To purchase land for house construction
  • To build a house on the customer’s own land
  • Extension to existing home

U Bank Home Loan Subsidy Eligibility Criteria

  • Pakistani resident who has correct CNIC.
  • Age range 25-60 years (at the time of loan application)
  • First time homeowner
  • Minimum monthly income is PRs. 25,000

U Bank Home Loan Subsidy Benefits

  • Loan facility from PKR 500,000 to PKR 2,000,000
  • Loan term is 5 to 20 years
  • Repay the loan in easy monthly installments
  • Immediate income clubbing is allowed with family members.
  • As per the SBP directive regarding GMSS, mortgage will be held in favor of UMBL, a financially aided housing unit.
  • Financing facility is available:
    • 5 marla / 125 square yards house
    • Flat with an area of ​​1250 square feet.

U Bank Home Loan Subsidy Mark-up Rate

First 05 years5%First 05 years
06-10 years7%06-10 years
Above 10 yearsKIBOR + 7%Above 10 years

U Bank Home Loan Scheme Required Documents

  • Original CNIC
  • Passport size photo (recent)
  • Proof of income
  • Title documents of mortgaged property
  • The property offered must be free of any bar and charges.

U Bank Home Loan Subsidy Installment Plan

Loan Amount (PKR)500,000700,0001,000,0001,200,0001,500,0001,800,0002,000,000
10 Years Plan Installment amount5,3037,42510,60712,72815,91019,09221,213
20 Years Plan Installment amount3,3004,6206,6007,9209,90011,88013,200

Join Us On:

Facebook

Twitter

Instagram

WhatsApp

Leave a Comment

Your email address will not be published.

%d bloggers like this: