List of Banks Providing Home Loans in Pakistan

Due to rising costs of raw materials, labor, and property taxes, constructing a home in today’s era can be extremely difficult. You should be aware of the plot size conversion before applying for a home loan. It is simple to obtain a loan with a proper plan once you know the exact size of your land.

Thankfully, some banks are willing to lend money to Pakistanis who want to buy a house. All you have to do is pay the bank a set amount of money each month. This simplifies and streamlines the entire construction process. Thanks to home financing, a person from the middle or upper-middle class can enjoy the benefits of owning their own home.

All you have to do is pay the bank a set amount of money each month. This simplifies and streamlines the entire construction process. Thanks to home financing, a person from the middle or upper-middle class can enjoy the benefits of owning their own home.

We’ve put together a very useful and comprehensive comparison of different banks so you can see how the whole loan process works.

Before we get started, we’d like to point out that the costs and interest rates mentioned in the article are for Islamabad. Other cities may have different interest rates, terms, and conditions.

Furthermore, these figures are based on a typical 5-marla house in Islamabad. 

You can modify the construction cost, income level, and payback period to suit your needs. The primary goal of this article is to educate readers on the interest rates, processing fees, and basic requirements of each bank.


APR is short-term for the annual percentage rate. It is the annual interest rate that the individual must pay to the bank. Second, the repayable amount is the total amount (principal and interest) that the individual must pay back to the bank.

List of Banks Providing Home Loans in Pakistan

1. Alfalah Home Finance3 years to 25 years.
2. Habib Bank Limited5 years to 20 years.
3. Muslim Commercial BankThe maximum loan tenure is 25 years
4. Askari Bank Limited3 years to 25 years.
5. United Bank Limited3 years – 20 years
6. Bank Al Habib1 year to 25 years.
7. JS Bank1 year to 20 years.
8. Meezan Bank3 years to 25 years.
9. Standard Chartered Bank1 year 5 years
10. Summit Bank1 year to 20 years
11. Bank Islami 2 years to 25 years.
12. Bank of Punjab3 years to 25 years.
13. Al Baraka Bank 2 years to 25 years.
14. MCB Islamic Bank Ltd1 year to 20 years. 
15. National Bank of Pakistan3 years to 20 years.
16. Faysal Bank1 year to 20 years
17. Dubai Islamic Bank1 year to 20 years.
18. Allied Bank Limited3 years to 25 years
19. Khushhali Microfinance Bank 1 year to 20 years.
20. Silk bank1 year to 5 years

1- Bank Alfalah

Bank Alfalah Alfalah Home Finance offers home loans with simple terms and conditions. You can apply for a loan ranging from Rs2 million to Rs50 million, with monthly payments ranging from 36 to 240 rupees.

Requirements:

The filer must have a minimum salary of Rs. 70,000 and be between the ages of 23 and 60. CNIC, salary slips, a 12-month bank statement, and two years of employment with the current employer are all required documents for loans.

Bank Alfalah’s website

2- HBH

You can apply for a loan amount ranging from Rs2 million to Rs15 million, payable in 60 to 240 monthly installments, through ‘HBL Home Loan.’ On their website, HBL also has a loan calculator that you can use to calculate the loan amount.

Requirements:

HBL’s minimum salary requirement is around Rs. 100,000. The individual should be between the ages of 22 and 60. CNIC, salary slips, a 12-month bank statement, a minimum of 5-year experience, Pakistani nationality (both resident and non-resident Pakistani), and a letter from the employer are all required documents.

HBL’s website

3- MCB

Bank offering the loan up to Rs. 25 million, which will be paid back in 12 to 240 monthly installments.

Requirements:

The candidate should have a monthly salary of Rs. 50,000 and be between the ages of 21 and 60. CNIC, salary slips, a 12-month bank statement, and proof of Pakistani residency are all required documents.

MCB’s website

4- Askari Bank

Askari Bank provides loans ranging from Rs. 500,000 to Rs. 20 million, with monthly payments ranging from 36 to 300 rupees.

Requirements:

Askari Bank, like MCB, has a minimum salary requirement of Rs. 50,000. The age range is 22-60 years, and the documents required for further processing are CNIC, salary slips, and a 12-month bank statement.

Askari Bank’s website

5- UBL

The bank is offering the loan from Rs. 1 million to Rs. 240 million, repayable in 36 to 240 monthly installments.

Requirements:

A monthly income of Rs. 50,000 is required to qualify for the loan. They should be between the ages of 23 and 65. CNIC, salary slips, a 12-month bank statement, proof of Pakistani residency, and proof of 12 years of employment are all required documents.

UBL’s website

6- Bank Al Habib

Bank Al Habib, like other banks, offers loans ranging from Rs. 300,000 to Rs. 20 million. Consumers have to pay back in 240 installment plans per month.

Requirements:

The minimum salary requirement is Rs. 60,000, and the age range is between 23 and 60 years. CNIC, salary slips, and a 12-month bank statement are all required for the paperwork.

Bank Al Habib’s website

7- JS Bank

JS Bank provides home loans ranging from Rs. 500,000 to Rs. 100 million, with monthly payments ranging from 12 to 240.

Requirements:

The salary range for JS Bank is a little high. The starting salary is approximately Rs. 70,000. The applicant should be between the ages of 21 and 60, and they should bring their CNIC, salary slips, and 12-month bank statements with them.

JS Bank’s website

8- Meezan Bank

You can apply with Meezan Bank for a loan ranging from Rs. 500,000 to Rs. 50 million, repayable in 24 to 240 monthly installments.

Requirements:

Meezan Bank makes loans to people with monthly incomes of around Rs. 40,000. The age range is 25-65, and the documents needed for further processing include salary slips, a 12-month bank statement, and two years of employment proof.

Meezan Bank’s website

9- Standard Chartered Bank

Standard Chartered’s Saadiq Home Financing division also makes loans. This bank, like HBL, offers an online loan calculator to its customers. You can apply for a loan ranging from Rs3 million to Rs30 million, with monthly payments ranging from 12 to 240 rupees.

Requirements:

Standard Chartered Bank offers financing for up to 75% of the property’s value. The required salary and age range are Rs. 50,000 and 21-60 years, respectively. If you want to get a loan from SC, bring your CNIC, salary slips, a 12-month bank statement, and a letter from your employer.

Standard Chartered’s website

10- Summit Bank

Summit Bank offers its valued customers the option of applying for a loan ranging from Rs. 300,000 to Rs. 100 million, repayable in 12 to 240 monthly installments.

Requirements:

The starting salary at Summit Bank is Rs. 80,000, and the age range is 23-60 years. CNIC, salary slips, a 12-month bank statement, and a letter from the employer are all required documents for formal paperwork.

Website: Summit Bank

11- Bank Islami

Bank Islami also provides home financing ranging from Rs. 200,000 to Rs. 50 million, with monthly payments ranging from 24 to 300 rupees.

Requirements:

The minimum salary is Rs. 51,000, and the age range is 25-65 years. For documentation, Bank Islami requires CNIC, salary slips, a 12-month bank statement, 6-month employment proof, and the last 6 months’ utility bills.

Bank Islami’s website

12- Punjab Bank

The BOP also provides home financing starting at Rs10 million and up, payable in 240 monthly installments.

Requirements:

The individual should earn around Rs. 40,000. Recommended age for a loan is 21 and 60. They should also bring their CNIC, salary slips, bank statements, and a copy of their utility bills.

Bank of Punjab’s website

13- Al-Baraka

Al-Baraka offers loans ranging from Rs0.3 million to Rs35 million, repayable in 240 monthly installments.

Requirements:

The minimum salary requirement is Rs. 50,000, and the candidate should be between the ages of 21 and 60. CNIC, salary slips, and bank statements are among the documents required.

Al-website Baraka’s

14- MCB Islamic Bank Ltd.

MCB, one of Pakistan’s leading banks, is also offering a loan of up to Rs. 30 million, repayable in 24 to 240 monthly installments.

Requirements:

The required minimum salary is Rs. 60,000. You should be between the ages of 25 and 65. CNIC, salary slips, bank statements, and a minimum of five years of service are required documents.

MCB Islamic Bank Ltd.’s website

15- The National Bank of Pakistan

The National Bank of Pakistan also offers home loans to its valued customers on simple terms and conditions. Because of its variable annual return policy, NBP home loan offers the best home loan rates in Pakistan.

The bank offers construction and purchase loans to its customers through the NBP Saibaan program. The maximum amount you can receive is approximately Rs.35 million over a period of 3 to 20 years.

Requirements:

To be eligible for the loan, the applicant must be at least 22 years old and have a net income of between Rs.10,000 (if a government employee) and Rs.15,000 (if he or she is privately employed).

You must have the following documents with you in order to apply for the loan:

  • Two passport-sized photographs have been attested.
  • Two copies of your CNIC have been attested.
  • Two attested copies of references’ CNIC.
  • Pay the processing fees with a check.
  • For a legal opinion, make a check payable to legal counsel.
  • For the valuation report, please make a check payable to Valuator.
  • If applicable, make a check payable to Income Estimation Company for the income estimation report.
  • Property Documents: a certified copy of the title documents is available.
  • In the case of HC and LPC, a bill of quantity (BOQ) is required.

National Bank of Pakistan’s website

16- Faysal Bank

Faysal Bank’s home loan program follows the principle of diminishing Musharakah. The asset is purchased jointly by the bank and the customer under this program. The bank then rents its portion of the units to the customer.

When the customer has paid for all of the units, the asset is transferred into his name, and he becomes the sole owner of that specific property.

Currently, the following loan types are available:

  1. Purchase of a home.
  2. Plot + construction/Home builder
  3. Renovation of a house.
  4. Refinancing a house (Transfer existing home finance facility).

To be eligible for the loan, the applicant must be a Pakistani citizen. The salaried individual must have a net income of Rs.100,000 and be between the ages of 21 and 60 to qualify for the loan.

Requirements:

The bank requires the following documents for the application process:

  • CNIC photocopy
  • 2 passport-sized photos
  • Salary slips for the previous six months
  • Salary certificate/employment certificate (title, date of hire, permanent – status, salary breakdown).
  • Bank statement from the previous 12 months (Original).
  • a copy of all property documents

Faysal Bank’s website

17- Dubai Islamic Bank

Consider this bank if you are looking for a home loan with no interest in Pakistan. Dubai Islamic Bank also offers home loans to its customers, and this is without the use of Riba (a concept in Islamic banking that refers to charged interest). So, anyone who does not want to be involved with any kind of interest can choose this bank, which offers loans up to Rs.75 million.

The customer and the bank will enter into a Musharakah agreement. The bank will purchase the asset on behalf of the customer and then lease it to the customer. When the loan is fully paid off, the bank will transfer complete ownership to the customer.

The bank offers the following types of home loans:

  • Purchase of a home.
  • Renovation of a house
  • Purchase of an undivided interest in a property mortgaged by another bank (Balance transfer).
  • Finance for construction.

Requirements:

  • Age range: 25 to 60 years.
  • Monthly earnings: Rs.40,000 for salaried employees and Rs.50,000 for self-employed individuals.

Dubai Islamic Bank’s website

Documentation is required:

  • A copy of the primary applicant’s CNIC is required.
  • Copies of CNICs of co-partners
  • 2 passport-sized photos
  • Returns on taxes
  • Utility bill copy
  • a professional qualification (for self-employed professionals only)
  • Certificate of Salary/Proof of Profession
  • The most recent pay stub

Bank statement for the previous 12 months and bank certificate

18- Allied Bank Limited

Allied Bank Limited is one of Pakistan’s most well-known banks, offering low-interest home loans. If you are a Pakistani citizen between the ages of 25 and 57 with a monthly net income of 50,000, you are eligible for a home loan.

You can borrow Rs.40 million and repay it over a period of 3 to 25 years, depending on your preferences and budget.

Allied Bank, on the other hand, requires a prior relationship with a bank of around 6 months.

Currently, the bank offers the following types of loans:

  • Purchase of a house/apartment
  • Building a house (Land already owned)
  • Renovation of a house
  • Purchase land and build a house

Requirements:

  • Bank statement from the previous six months (ABL / any other bank, as applicable)
  • CNIC/Smart NIC Copies
  • Income documentation
  • “Application Form” must be completed and signed.

Allied Bank Limited’s website

 19- Khushhali Microfinance Bank Limited

Khushhali Microfinance Bank offers home renovation and repair loans. Consider this bank if you want to renovate your home and are looking for financing. Khushhali Bank offers home loans of up to Rs.1000,000. Your month’s tenure ranges from 6 to 120 months.

Requirements:

  • Age range: 25 to 60 years (65 years for pensioners)
  • The applicant’s annual income should be equal to or less than PKR 600,000 per year.
  • For at least one year, you must have lived in the house or owned it (if the property was rented).
  • Salaried employees must have been with their current employer for at least two years.
  • 2 years of commercial experience
  • Holder of a NADRA CNIC/SNIC

Khushhali Microfinance Bank’s website

20- Silk Bank

Silk Bank also offers home loans with low monthly payments to its customers. It is regarded as one of the best banks in Pakistan for home loans.

An eligible person can obtain a loan of up to Rs.2 million, with repayment terms ranging from one to five years.

Requirements:

  • Pakistani citizens
  • Foreign nationals who have a company guarantee approved by the government
  • Individuals who are paid
  • Age range: 21-65 years
  • Monthly income of at least Rs.40,000

Silk Bank’s website

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