U Microfinance Bank

U Microfinance Bank Loan

U Microfinance Bank: Affordable Housing Financing through Government Mark-up Subsidy Program. Under the government’s mark-up subsidy system, U Microfinance Bank provides housing finance facilities to salaried individuals and businesses for the purchase of new homes or apartments, as well as for the construction of new homes or the expansion of existing ones. Now you can get easily a Loan from a microfinance bank.

Basic Product Purpose U Microfinance Bank Loan

  • To build or buy a home or apartment
  • To acquire land for building a home
  • For building a home on a customer’s property
  • Expansion of the current home

Eligibility Criteria U Microfinance Bank

  • Pakistani Resident having valid National CNIC
  • Age limit 25-60 years (at the time of loan application)
  • First-time Homeowner
  • Minimum monthly income Rs.25,000

 

U Microfinance Bank

Salient Features

  • A loan facility ranging from 500,000 to 2,000,000 PKR
  • Term of loan: five to twenty years
  • Simple monthly installments for loan repayment
  • Income pooling is permitted for members of the immediate family.
  • According to SBP’s directive about GMSS, UMBL will be the beneficiary of the mortgage on the funded dwelling unit.
  • A financing option is offered for:
  • A covered house measuring five marlas, or 125 square yards
  • A flat with 1250 square feet of covered space.

U Microfinance Bank

Mark-up Rate:

First 05 years 5%
06-10 years 7%
Above 10 years KIBOR + 7%

 

یو مائیکرو فنانس بینک: سرکاری مارک اپ سبسڈی پروگرام کے ذریعے سستی ہاؤسنگ فنانسنگ۔ حکومت کے مارک اپ سبسڈی کے نظام کے تحت، یو مائیکرو فنانس بینک تنخواہ دار افراد اور کاروباری اداروں کو نئے مکانات یا اپارٹمنٹس کی خریداری کے ساتھ ساتھ نئے گھروں کی تعمیر یا موجودہ مکانات کی توسیع کے لیے ہاؤسنگ فنانس کی سہولیات فراہم کرتا ہے۔

Required Documents

  • Original CNIC
  • Passport size photo (recent)
  • Proof of income
  • Title documents of property to be mortgaged
  • Offered property should be free from any bar and charges

Installment Plan For U Microfinance Bank Loan

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

 

(The installment amounts above are determined for the first five years.)

 

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