Borrowers can get up to PKR 3.5 million at subsidized rates. First time home buyers can borrow PKR 2 to 3.5 million to buy or build houses, flats, or plots under a new nationwide support scheme.
The State Bank of Pakistan has launched the Mera Ghar Mera Aashiana scheme. It targets people buying a home for the first time.
Citizens can apply to purchase or build a house, flat, or plot. Loan sizes start at PKR 2 million and go up to PKR 3.5 million.
Government initiative aims to make owning a home easier and cheaper for new buyers.
Loans run up to 20 years with a 10-year subsidy; banks will price at KIBOR + 3%, with 5% for up to PKR 2m and 8% for up to PKR 3.5m to lower monthly payments
The ‘Mera Ghar Mera Aashiana’ scheme offers flexible loan terms of up to 20 years, with the government providing a subsidy for the first 10 years to ease financial burdens.
Banks will set interest rates at KIBOR plus 3%, ensuring affordability.
Loans up to PKR 2 million carry a fixed 5% rate, while those up to PKR 3.5 million are priced at 8%.
These competitive rates lower monthly installments, providing first-time homebuyers with greater budget flexibility and supporting long term financial stability.
All conventional and Islamic banks, microfinance banks, and HBFC will accept applications with zero processing fees to cut upfront costs for applicants
The ‘Mera Ghar Mera Aashiana’ scheme simplifies the application process for first time homebuyers, allowing applications through conventional banks, Islamic banks, microfinance banks, or the House Building Finance Company (HBFC).
To reduce barriers, no processing fees are charged, making it easier for families to apply.
Applicants should submit basic documents and proof of first time buyer status.
It’s advisable to consult banks for detailed eligibility and repayment options, compare offers, and evaluate the total cost over the loan term before deciding.
The State Bank of Pakistan anticipates that this initiative will increase homeownership rates and stimulate job creation in construction and related sectors.
For those planning to buy or build their first home, this program offers a straightforward and affordable path.
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