Posted by 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
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.
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.)