To facilitate Non-Resident Pakistanis (NRPs) with owning real estate in Pakistan, Meezan Roshan Apna Ghar enables NRPs with a Meezan Roshan Digital Account (RDA), allowing them to invest in any residential and commercial property in the country on repatriable basis. Some key features of the arrangement are:
• All funds will be invested from Meezan Roshan Digital PKR Account. All payments (token money, down payment/advance, payments made in full, partial, tranches, etc.) must be made from RDA - PKR to fully repatriate the proceeds/disinvestments in future.
• A customer can invest in his/her own name or jointly with eligible family members (which includes parents, brother, sister, wife, children—lineal ascendant and descendant only).
• Facility for direct payments in favor of seller only.
• Full repatriation of proceeds*.
The Bank shall conduct proper due diligence and require the customer to submit documents as per the Bank’s internal processes and regulatory guidelines.
*In case of disinvestment before three years, the customer can repatriate funds up to the lower amount of sale proceeds or principal investment amount in PKR on the date of the investment, while the differential amount, if any, and any profit/return earned from eligible investments made out of this amount may be repatriated after the expiry of three years from the date of investment.
Disclaimer: A customer must successfully register their application with the Bank before making any payment (token money, down payment/advance, payments made in full, partial, tranches, etc.) to the seller for the purchase of property.
Meezan Roshan Apna Ghar is a Riba-free solution to customers’ home financing needs, designed especially for RDA holders and Islamic Naya Pakistan Certificate (INPC) holders.
It works on the Shariah-compliant concept of Diminishing Musharakah where the Bank and Customer become joint owners in property. The Bank leases its share of property to Customer against periodic rentals. The Customer also purchases Bank’s share of property over the tenure to ultimately become sole owner of the property.
Types of Bank Financing:
• Lien - For customers who are willing to keep their investment in INPC or RDA deposit funds as lien against their net financing amount as collateral. In this case, no mortgage will be created on the property.
• Non-Lien - For customers who are availing financing facility without cash collateral to invest in Meezan Roshan Apna Ghar (MRAG) or Mera Pakistan Mera Ghar (MPMG). In this case, an equitable or token mortgage will be required.
*Terms and conditions apply. Kindly see the Eligibility Criteria.
Buyer, Builder, Renovation
In both types of financing, the age of applicant must not exceed 60 years. However, it may be extended to 65 years, provided applicant justifies that he/ she can make payments even after retirement age.
Co-applicant’s age must not exceed 65 years at the time of maturity, incase income of co-applicant is not clubbed. However, if co-applicant’s income is clubbed, then the age criteria same as applicant will be applicable.
3 to 25 Years
A maximum of four co-applicants are allowed.
For the purpose of income clubbing, only a non-resident Pakistanis can be considered.
| Variable Profit Rates | |||
| Segment | Variable Rate* | Re-pricing*** (Annual) | |
| Non Lien Based | Salaried Individual | Fixed – 1 year K* + 1.5% p.a. | 1 Year K* +1.5%p.a. |
| Non-Salaried individual | |||
| Lien Based | Salaried individual | Fixed – 1 year K* p.a. | 1 Year K* p.a. |
| Non-Salaried individual | |||
| Fixed Profit Rates | |||
| Segment | Fixed Rate** 5 Years | Re-pricing*** (After 5 Years) | |
| Non Lien Based | Salaried Individual | 5 Years PKRV****+1.5% (Fixed Rate for First 5 years, after which Fixed rate/variable rate will apply) |
5 year PKRV**** + 1.5% OR 1 Year K* + 1.5% p.a. |
| Non-Salaried individual | |||
| Lien Based | Salaried individual | 5 Years PKRV**** (Fixed Rate for First 5 years, after which Fixed rate/variable rate will apply) |
5 year PKRV**** OR 1 Year K* p.a. |
| Non-Salaried individual | |||
| *For first year fixed rate, ‘K’ denotes KIBOR (Karachi Interbank Offer Rate), announced on 1st working day of each calendar month. | |||
| **Pricing will be reevaluated after every six months or any change in discount rate announced by SBP | |||
| ***KIBOR shall mean 12 –month (Karachi Interbank Offer Rate), announced on 1st working day of each calendar month immediately preceding the end of (transaction)the year. | |||
| ****PKRV = Pakistan Revaluation Rate | |||
| Note: The applicant will have the option of both variable and fixed rate on completion of the 5 years fixed rate term. | |||
Note: In case any developer / builder intends to enlist their project with Meezan Bank, kindly contact the Bank at the following email id: [email protected]
Choose it and get ready to move in!
For that special home you want to build!
Make your home even better or just repair it!
| Type of Charges | Salaried & Businessmen |
|---|---|
| Processing Charges | PKR 4,000 |
| FED on Processing Charges@ 16%** | PKR 640 |
| Legal Report Charges | At Actual |
| Property Valuation Charges | At Actual |
In case of any query, kindly contact the Bank representative at the following email id: [email protected]
(Relationship Manager)
Cell No: 0304-1927547
E-mail: [email protected]
Address: 3rd Floor, Plot No. 42C, 22nd East Street
Phase I, DHA, Karachi
PABX: 021-38103500, 37133500 Ext: 70009
(Relationship Manager)
Cell No: 0304-1927533
E-mail: [email protected]
Address: 3rd Floor, Plot No. 42C, 22nd East Street
Phase I, DHA, Karachi
PABX: 021-38103500, 37133500 Ext: 4034
(Relationship Manager)
Cell No: 0304-0920597
E-mail: [email protected]
Address: Gulberg Branch, 60 Main Boulevard Gulberg - II, Lahore
Dir. No. 042-35757435-6
PABX: 042-35879870-2 Ext: 8218
(Relationship Manager)
Cell No: 0301-1189256
E-mail: [email protected]
Address: Gulberg Branch, 60 Main Boulevard Gulberg - II, Lahore
Dir. No. 042-35757435-6
PABX: 042-35879870-2 Ext: 8219
(Relationship Manager)
Cell No: 0301-1133621
E-mail: [email protected]
Address: Consumer Banking Center, Meezan Bank Limited,
Buland Markaz, Blue Area, Islamabad
PABX: 051-2271083 Ext: 6302
(Relationship Manager)
Cell No: 0304-0920598
E-mail: [email protected]
Address: Consumer Banking Center, Meezan Bank Limited,
Buland Markaz, Blue Area, Islamabad
PABX: 051-2271083 Ext: 5409
Fill out the form below and you will be contacted by a Meezan Bank representative.
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Meezan Roshan Apna Ghar
