“BOP House Loan is a long term finance facility for
- Purchase of house/flat
- Purchase of Plot & Construction thereon
- Construction of house on self owned plot
- Renovation/home improvement
provided for personal use only
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- Salaried Individuals (SI)
- Self Employed Professionals (SEP)
- Self Employed Businessmen (SEB)
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Purchase & construction of House / Flat or Construction
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300,000
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No Limit as per debt burden of the customer
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Not to exceed 70% of FSV
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Home Improvement / Renovation / Additions
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200,000
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No Limit as per debt burden of the customer
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Not to exceed 30% of FSV
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The Monthly Instalment should not exceed 50% of monthly net income.
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HOUSE/ FLAT
PURCHASE
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03 YEARS
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20 YEARS
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CONSTRUCTION
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03 YEARS
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20 years with maximum 12 months grace period, during this period mark up will be on the finance from first draw down
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HOME IMPROVEMENT
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03 YEARS
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07 YEARS
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3 to 20 Years, or as per MOU
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AAvg. 3 Years ask side KIBOR + 375 bps with floor of 16% p.a.
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Fix for 3 Years & revise after every 3 years
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Processing Charges
= Upto Rs. 2(M) Rs. 4000/- per case
== Above Rs. 2(M) to Rs. 4(M) Rs.5500/- per case
= Above Rs.4(M) Rs. 6500/- per case
E-CIB Charges
= Rs.300/- per case
Guarantor e-CIB Charges
= Rs.50/- per report
Documentation Charges
= Actual
Legal Fee
= Actual
Valuation
= Actual
Mortgage Charges/Fee
= Actual
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NO Prepayment Penalty
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Upto Rs 2.50 (M)
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Rs.500/-
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Additional mark-up @ 1% + Rs.500/-
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Upto Rs.5.00 (M)
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Rs.1,000/-
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Additional mark-up @ 1% + Rs,1,000/
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Over Rs 5.00 (M)
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Rs.1,500/-
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Additional mark-up @ 1% + Rs.1,500/
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Property insurance (if loan amount exceeds value of end) and life insurance of borrower for loan amount will be mandatory
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ELIGIBILITY CRITERIA FOR SALARIED INDIVIDUALS (SI)
- Age between 25 and 60 Years or retirement date; whichever is earlier (60 Years at maturity of facility)
- Minimum Take Home Salary is Rs. 10,000/-
- Permanent. Employee with Minimum 03 Years of continuous job Experience including 01 year with current employer. (02 Year for BOP Employees including probationary period).
- Maintaining Salary Account in any bank.
- Have valid CNIC
- Residing or working in launching cities.
ELIGIBILITY CRITERIA FOR SEP/SEB
- Age between 25 and 60 Years or retirement date; whichever is earlier (60 Years at maturity of facility)
- Minimum 03 Years in current business.
- Minimum Monthly Net Income is Rs. 20,000/- (Established through Tax Return or Income Estimation Report of outsourced agencies or Bank Statement).
- Have valid CNIC
- Residing or working in launching cities.
- Tax Payer
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- House/Flat purchased.
- Plot on which construction is to be carried out.
- House on which renovation is to be carried out.
- 10 % Token Registered Mortgage
- Equitable mortgage for the full marked up amount
- Noting of charge in revenue record
- Life Insurance of the borrower assigned in the name of Bank
- Insurance of property
- Three undated cheques for the marked up loan amount (principle + mark-up)
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FOR SALARIED PERSON
- Copy of valid CNIC
- Latest Salary Slip / Employer Certificate on organization’s letter head (as per BOP specimen)
- Two Recent Photographs
- Bank Statement for last 6 months
- Latest Copy of utility bills (Electricity & phone)
- Income Tax Return/Wealth Statement OR Non-Tax Payees Form, if applicant is a non-tax payer
FOR SELF EMPLOYED BUSINESSMEN / PROFESSIONAL
- CNIC
- Two Recent Photographs
- Bank Statement for last 01 Year of Business Accounts
- Latest Copy of utility bills (Electricity & phone) of Residence
- Income Tax Return/Wealth Statement OR Non-Tax Payees Form, if applicant is a non-tax payer
- Copy of Rent agreement if living in rented house
BUSINESS RELATED DOCUMENTS.
- Latest copy of utility bills (Electricity & phone) of current business address.
- Documentary evidence in business or in the profession for the last 05 years.
- Proprietorship Certificate/Partnership deed
- Copy of Professional Degree (For Professionals)
- Title document or rent deed of the office
- If office premises moved in the last 3 years details and evidence of last office premises
- Copy of professional degree for self-employed professionals
BUSINESS FINANCIAL DOCUMENTS.
- Income Tax Return/Wealth Tax Statement
- Balance Sheet
- Profit & Loss Statement
- Any other documents
PROPERTY RELATED INFORMATION TO BE PLACED WITH THE BANK AS SECURITY
- Copy of Title document of the property.
- Copy of approved building plan and completion certificate of house.
- Copy of property tax payment receipt (PT1/PT 10)
- NEC
- Any other documents advised by legal counsel
- NOC to mortgage leasehold property to the bank should also be obtained from the respective LESSOR (if applicable) and to ensure that there are no restrictive covenants in the Lease Agreement / Deed.
NOC to mortgage from concerned society
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