Alfalah Ghar Asaan: Mera Pakistan Mera Ghar Loan - Bank Alfalah

Alfalah Ghar Asaan applications are being accepted by Bank Alfalah providing low-interest loan under Mera Pakistan Mera Ghar for the construction and purchase of newly constructed low-cost housing under the Naya Pakistan Housing Programme (NPHP).

Under the Mera Pakistan Mera Ghar scheme, the government is providing loan of Rs. 300,000 each for the first 100,000 housing units that are constructed while also giving citizens an opportunity to avail loan of up to Rs. 5 million (50 lakhs) for the purchase of these newly constructed affordable housed / apartments.

Here we cover all information regarding Alfalah Ghar Asaan (Mera Pakistan Mera Ghar) application process through Bank Alfalah to help you get a quick and easy loan on affordable monthly installments.

Product Variants

Alfalah Ghar Asaan – Home Buy: This type of facility is meant for the purchase of an already constructed housing unit / apartment.
Alfalah Ghar Asaan – Build a Home: This type of facility is extended to customers who already own a residential plot or intend to buy a residential plot with subsequent construction of house.

Basic Eligibility Criteria for Alfalah Ghar Asaan (Mera Pakistan Mera Ghar)

All Pakistani citizens holding valid CNIC / NICOP / SNIC.
This subsidized scheme is for first time home owner
You can avail the facility under the scheme only once.
Only for construction and first purchase of newly constructed affordable housing units

Bank Alfalah – Mera Pakistan Mera Ghar Loan (Alfalah Ghar Asaan) Information

Description	Category 1 (NAPHDA)	Category 2 (Non-NAPHDA)	Category 3 (Non-NAPHDA)
Size of Housing Unit	Housing unit / apartment/ flat of up to 125 square yards (up to 5 Marla) with covered area of up to 850 square feet.	Housing unit / apartment / flat of up to 125 square yards (5 Marla) with covered area of up to 850 square feet	Housing unit / apartment / flat of more than 125 square yards up to 250 square yards (10 Marla)OR apartments/ flats with covered area from more than 850 square feet to 1,100 square feet
Maximum Price of Units	Rs.3.5 Million	Rs.3.5 Million	Rs.6.0 Million
Maximum Financing Limit	Rs.2.7 Million	Rs.3.0 Million	Rs.5.0 Million

Financing Tenor: Minimum 10 with flexibility to go up to 20 years at customer’s choice.

Subsidized Mark-up/ Profit Rate

	First 5 YearsFixed Rates	Next 5 YearsFixed Rates	Exceeding 10 YearsVariable Rates
Category 1	5%	7%	1 Year KIBOR + 2.5%
Category 2	5%	7%	1 Year KIBOR + 4.0%
Category 3	7%	9%	1 Year KIBOR + 4.0%

Key Qualification Criteria – Alfalah Ghar Asaan (Mera Pakistan Mera Ghar)

Description	Details
Age (Applicant & Co-applicant)	Salaried Individuals: Minimum 25 years and Maximum 60 years at time of maturity of loanNon Salaried Individuals: Minimum 25 years and Maximum 65 years at time of maturity of loan
Net Monthly Income	PKR 25,000 per month net disposable income
Co-Applicant	Up to 4 co-applicants allowed with 100% income clubbing of co-applicants
Financing Cities	All cities of Pakistan where Bank Alfalah has it branch network
Employment / Business Tenor	Minimum 5 years

Security Requirement: The financed housing unit / apartment financed will be mortgaged in favor of financing bank as per banks’ policy and SBP prudential regulations.

Note: Property should be Accessible, Transferable, Mortgage-able, Free of any legal charge with any private or public individual/institution, and an approved map from the concerned authority shall be available