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HABIBMETRO Roshan Digital Account (RDA) holders can now buy, build or renovate a home for their loved ones residing in Pakistan, through the Roshan Apna Ghar facility.

Non-Resident Pakistanis (NRPs) and Foreign Nationals having a Pakistan Origin Card are eligible for opening Roshan Digital Account and applying for Roshan Apna Ghar.

Roshan Apna Ghar also covers investment in property without taking a loan from the bank in which case the bank will arrange valuation of property to be used for repatriation purpose. Furthermore, all payments including the Token / Advance amount is to be paid through the RDA account. Customer to also provide a copy of executed title deed for Bank’s record.

In case of disinvestment before three (3) years, the funds can be repatriated up to the lower amount of sale proceeds or principal investment amount in PKR on the date of investment. The differential amount, if any, and any profit earned from eligible investments made out of this amount may be repatriated after the expiry of three (3) years from the date of investment.

Roshan Apna Ghar Offers:

  • Automated journey for swift processing of the loan
  • Maximum financing is available against property value
  • Exclusive price offering
  • Flexibility to make partial pre-payments with zero charges after the first year
  • For the first year, 1% will be charged upon early termination; after which no charges will be levied
  • Processing fee of PKR 4,000/- (exclusive of FED)
  • Monthly installment to be paid through direct debit instructions from Roshan Digital Account
  • No minimum income requirement
Video Tutorial

Pricing for HABIBMETRO Home Financing:

Rate Lien Product Non-Lien Product
Variable 1 Year KIBOR 1 Year KIBOR + 1.5%
Fixed 5 Year PKRV 5 Year PKRV + 1.5%

Salient Features:

  • HABIBMETRO Roshan Digital Account Holders are allowed to avail home financing under this scheme for their loved ones residing in Pakistan
  • Immediate family members are allowed to be the co-applicant in this loan (if applicable) – In absence of a co-applicant, a Nominee would be required who may be a lawyer, a relative, or a friend to facilitate the transaction in Pakistan)
  • In the case of Nominee, special power of attorney would be required duly attested by the relevant Pakistani Embassy (For Sample Format Click Here)
  • Up to 4 co-borrowers can be added for the purpose of income clubbing who should be Non- Resident Pakistani (NRP) and immediate family members (children, siblings, parents and spouse)
  • Optional life insurance covering death (due to any cause) and accidental/natural disability
  • Free property insurance (covering the financing amount)
  • Government mark-up subsidy scheme (GMSS) for housing financing will be applicable per already defined criteria under respective tiers
  • The maximum age of the salaried applicant must not exceed 60 years, however, it may be extended to 65 years provided the applicant justifies that he/ she can repay the loan even after retirement age
  • The maximum age of a non-salaried applicant must not exceed 65 years
  • Minimum overall employment/business tenure of two (2) years

HABIBMETRO Home Financing:

  • Loan limits from PKR 500,000/- to PKR 10,000,000/- for renovation with no maximum limit to Buy / Build
  • Debt to Equity Ratio under Buy / Build: Maximum financing (debt) of up to 85% of property value
  • Debt to Equity Ratio under Renovation: Financing of up to 40% of property value
  • Financing tenure of minimum 3 years and a maximum of 25 years

Lien Based Financing:

  • Debt to Equity Ratio under Buy / Build: Maximum financing (debt) of up to 99% of property value
  • Debt to Equity Ratio under Renovation: Financing of up to 40% of property value
  • Lien to be marked on 100% equivalent to net financing amount will be marked on applicant’s IPC/NPC/RDA Deposit and 120% in case of foreign currency account
  • Financing tenure of minimum 3 years and a maximum of 25 years (5 to 20 years in case of GMSS)
  • A copy of executed title deed would be required (property mortgage not needed)

Loan Calculator:

Please click on the link below to download and calculate your tentative installment

 Download for HABIBMETRO Home Finance

 

Documentation Requirement:

  • Copy of co-applicants CNIC / NICOP (if applicable)
  • Employer Certificate (if applicable)
  • Last 3 month’s salary slips (if applicable)
  • Valid business proof (if applicable)
  • Last 12 months’ bank statement (original or duly attested by the bank)
  • Copies of last 2 years tax documents (where applicable)
  • Copy of property title documents (if already selected)
  • Any other documents (Optional)

Customer Onboarding Journey :

Turn Around Time (TAT*):

  • Online application submission till applicant’s consent along with credit, income checks, and verification till approval stage: 1-4 working days
  • The decision of the bank on the loan: 1-2 working days
  • Property Finalization / Title Documents for obtaining Preliminary Legal Opinion & Appraisal Report from submission of complete documents: 10-15 working days
  • Legal documents signing till loan disbursal stage: 3-5 working days
  • Completion of Registrar requirements & Disbursement: 10-15 working days

*TAT may extend in case of any additional scrutiny, delay at the customer’s end, or any unforeseen circumstance beyond the Bank’s control

Frequently Asked Questions (FAQs):

Q: Where can I submit my loan request?

A: Loan applications may be submitted through HABIBMETRO’s online web banking portal

Q: Who can be co-borrowers for Roshan Apna Ghar?

A: Family members including Father, Mother, Spouse, Siblings of RDA Holder in HABIBMETRO Bank are allowed to be co-borrowers.

Q: Would I be able to withdraw from my RDA, in case I am a lien-based customer?

A: You will not be able to withdraw from the amount marked as lien; withdrawals can be made from the amount over and above that.

Q: Is remittance through the banking channel mandatory?

A: Remittance through the banking channel is mandatory only for the remittance-based segment.

Q: How long will it take to process my loan?

A: The Bank generally takes 7-10 working days to process the loan provided there is no delay at the customer’s end.

Q: Is there any other source of income required for the co-borrower (family member in Pakistan)?

A: No, there is no source of income required for a co-borrower.

Q: What is the minimum documentation requirement?

A: The minimum documentation requirement is as following for RDA Holders:

  • Online loan request
  • Bank statement/salary slips/remittance proof (if not provided at the time of account opening)
  • Legal documents will require a wet signature of an applicant
  • The list of “documentation requirements” is available on our RDA webpage

Q: What purpose/category can be covered under Home financing?

A: For buying, building, or renovating your home in Pakistan.

Q: Is the verification of co-borrower residing in Pakistan required?

A: Both physical (residence & office) and telephonic verification of co-borrower will be done.

Q: Can a developer / builder enlist their project(s) with HABIBMETRO?

A: Yes, in case any developer / builder intends to enlist their project with HABIBMETRO, kindly contact the bank at the following email ID: rdasupport@habibmetro.com

Roshan Apna Ghar