akhuwat foundation loan | prime minister low cost housing scheme |
Government of Pakistan through Ministry of Housing & Works has launched a Housing Scheme with
total funds of PKR 7 Billion out of which 7 Billion has been released by the Government of Pakistan
till now & subsequently disbursed. Under the said scheme, poor and deserving families will be
provided with financial assistance as per Shariah compliant product up to PKR 500,000/- through
Akhuwat Islamic Microfinance (AIM). This scheme seeks to support the poor both economically and
socially.
Prime Minister Low Cost Housing Scheme Salient Features are as follows:
- Financing size up to Rs.500,0000/-
- Repayment period is from 13 to 60 months.An early repayment will be welcomed.
- Average Monthly rental amount is up to Rs.10,000/-
- Financing will be given for following purposes:
Entire new construction or lanter for new house.
Addition of rooms, kitchen & bathroom etc.
Renovation & up gradation.
- The application processing fee will be zero.
To be eligible under the said scheme, the applicant must meet the following criteria of having;
- Valid CNIC
- Age up to 60 years
- Applicant must be the owner of the land/house
- Valid ownership title or evidence of land/house(mayincludeRegistry,Inteqal,Fard,Allotment letter or any other valid evidence deemed appropriate)
- Land size of 5 Marla or less or covered area which is not more than 1,360sqft.
- Good social and moral character in community
- Monthly house hold income upto Rs.60,000.
- Residence in the operational area of AIM’s branch.
- Should have a clear credit history(ifany).
*Preference may be given to widows and house holds with monthly income below Rs.40,000.
For further details,please visit our branch nearest to your plot/house under consideration.
Complete address & contact details of our branches is available on our website.
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