Mortgage Finance

Build a Home:

This type of loan is extended to customers who already own a piece of land and need funds to meet cost of constructing of house on that land. The disbursement of this loan is made in tranches during the construction phase depending upon the Bills of Quantity (BOQ) submitted by the customer duly verified by Bank’s approved valuation agency.

Buy a Home:

As the name suggests, this type of loan is meant for the purchase of an already constructed house.

Buy a Plot and Construct:

This loan type is extended for the customers who want to buy a plot and construct a house on that plot. The disbursement of this loan is made in tranches for the purchase of plot and then during the construction phase depending upon the bills of quantity (BOQ) submitted by the customer duly verified by Bank’s approved valuation agency.

Renovation:

This loan is offered to customers who already own a house and require funds for renovation/improvement. Disbursement will be made in two tranches only after customer has provided BOQ duly verified by Bank’s approved valuation agency.

Balance transfer facility:

This kind of loan is offered to existing borrowers of other institutions, who may want to switch over to Askari Bank Limited because of service, pricing or relationship reasons. The Mortgage loan with the other financial institute should be with positive credit history. Balance transfer facility is strictly not allowed for properties that are still under construction.

Particulars Details
Tenure of Loan 3 to 25 years
Minimum Age of Borrower 21 years
Maximum Age till Maturity of Loan 60 years (Salaried)
65 years (SEB/SEP/Pensioner)
Minimum Salary/Income
Permanent Employees
Contractual Employees
Pensioners
SEB/SEP (Branch Customers)
SEB/SEP (Non Branch Customers)

Rs. 50,000/-
Rs. 60,000/-
Rs. 50,000/-
Rs. 100,000/- Average Balance
Rs. 150,000/- Average Balance
Minimum Employment – Salaried
SEB/SEP (Branch Customers)
SEB/SEP (Non Branch Customers)
Overall 1 year & 6 months with current employer
1 Year in same profession
2 Years in same profession
Finance Amount (subject to DBR) Rs. 500,000/- to Rs. 20 Million
(Higher amount may also be considered)
Minimum Equity Requirement 25%
Top Up/Limit Enhancement Renovation/Completion purpose

 

Documents mainly required:

  • Application Form duly filled in all respects
  • Copy of valid CNIC
  • Salary Slip / Proof of Income
  • Bank Statement
  • Copy of the latest utility bill with no overdue in current month
  • 2 Passport size photographs
  • Biometric Verification

You can apply by visiting our Branches or by calling at our 24 hrs call center at 111-000-787. Our dedicated staff will help you complete your loan application form and other formalities.

You can also submit your details here, our staff will contact you.