Islamabad: The State Bank of Pakistan has launched a new scheme ‘Mera Ghar Mera Ashiana’ for public convenience, under which first-time home buyers will be provided with loans ranging from Rs 2 million to Rs 3.5 million.
According to the state bank, the loan tenure will be 20 years, while subsidy will be provided for 10 years. Loans up to Rs 2 million will be available at 5% interest and up to Rs 3.5 million at 8% interest.
All major banks, Islamic and conventional banks, microfinance banks and HBFCs will provide loans under this scheme. The loan price will be at Kaibor plus 3%, however, the customer will not have to pay any processing fee.
This scheme is a ray of hope for families who want to fulfill their dream of building or buying their own home for the first time.
