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 years||5%||First 05 years|
|06-10 years||7%||06-10 years|
|Above 10 years||KIBOR + 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)||500,000||700,000||1,000,000||1,200,000||1,500,000||1,800,000||2,000,000|
|10 Years Plan Installment amount||5,303||7,425||10,607||12,728||15,910||19,092||21,213|
|20 Years Plan Installment amount||3,300||4,620||6,600||7,920||9,900||11,880||13,200|
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