Faysal Tabeer offers convenient and affordable option to fulfill your residential requirements. Now you can buy a house / apartment or opt for construction finance in a complete Shariah compliant way using Diminishing Musharakah mode of financing.
Product Features and Benefits
|Tier||Size of Housing Unit||Maximum Price of Housing Unit (PKR)||Maximum Financing (PKR)||Customer Pricing|
|Tier 1 (T1) (NAPHDA Projects)||Housing Units/apartments of up to 125 square yards (up to 5 Marla) with covered area of up to 850 square feet. (NAPHDA)||3.5 Million||2.7 Million||5% for first 5 years & 7% for next 5 yearsFor period exceeding 10 years = 1 year KIBOR + 2.5%|
|Tier 2 (T2)(Non-NAPHDA Projects)||Housing Units/apartments of up to 125 square yards (5 Marla) with covered area of up to 850 square feet.||3.5 Million||3.0 Million||5% for first 5 years & 7% for next 5 yearsFor period exceeding 10 years = 1 year KIBOR + 4%|
|Tier 3 (T3)(Non-NAPHDA Projects)||Housing Units of more than 125 square yards up to 250 square yards (10 Marla) or apartments with covered area from more than 850 square feet to 1,100 square feet.||6.0 Million||5.0 Million||7% for first 5 years & 9% for next 5 yearsFor period exceeding 10 years = 1 year KIBOR + 4%|
|Financing Tenure||Up to 20 years|
- All men/women holding CNIC.
- First time home owner.
- One Individual can have subsidized home finance facility under this scheme only once.
- Only for construction & first purchase of newly constructed affordable housing units.
As per banks’ credit policy and prudential regulations for housing finance, the housing unit financed will be mortgaged in favor of financing bank.
|Document|| Original or |
|Product Disclosure Sheet||Original||Yes||Yes|
|Valid Computerized National Identity Card (CNIC) (of both applicant and Co-partner, if applicable||Copy||Yes||Yes|
|2 passport size color photographs each for applicant and co-partner (if applicable)||Original||Yes||Yes|
|6 month Bank Statement (if applicable)||Original||Yes||Yes|
|Facility Application form (FAF) including CF undertaking||Original||Yes||Yes|
|Undertaking for first time homeowner||Original||Yes||Yes|
|Title Document of the property to be mortgaged (if applicable)||Copy||Yes||Yes|
|Bank Statement of 1 year (if available) (for businessman only)||Original||Yes||Not Required|
|NTN or any other business proof document (if available)||Original/Copy||Yes||Not Required|
|Current Salary Slip or Employer letter/ Salary Certificate (salary breakup and deductions to be clearly mentioned). Maximum of 60 days old salary slip may be accepted. Original salary slip/e-slip does not require stamp or sign||Original/Copy||Not Required||Yes|
|Professional Degree & Or valid Membership of applicable Professional body||Copy||Yes||Not Required|