Loan Without Interest In Pakistan Al-Baraka Bank is providing loans for building or buying a house under the Labit Home Finance Scheme across Pakistan. All men and women of Pakistani nationality can take a loan and build their own house
Salaried people, business people, or professionals can take loans from the Al Baraka Bank
The bank will pay 80% of the money that the customer wants to buy and the customer will pay 20% of the money himself.
For what purposes does Al Baraka Bank lend?
Loans can be taken from Al Baraka Bank for four purposes
one: A loan can be taken to buy a house
Number two: Loans can be taken for buying plots and for plus construction
three: If the customer has a plot and the customer wants to take a loan only for construction, then the loan will be obtained.
four: If the customer has a house, but the condition of the house is bad (ie the wall has fallen down or the door is bad or the roof of the house is not good) then the customer can take a loan to fix it his house and renovate the house.
How much can be borrowed from Al-Baraka Bank and for how long?
A minimum loan of Rs 3 million and a maximum loan of Rs 30 million can be obtained from the Al Baraka Bank.
This loan has to be repaid in monthly installments of 20 years
The customer can borrow up to one lace as per his requirement and repay in 20 years in any number of years with monthly installment.
Terms of borrowing Loan Without Interest In Pakistan Al Baraka Bank
Anyone who wants to take a loan from Al-Baraka Bank to build a house has to fulfill all these conditions.
If the borrowing candidate belongs to the salaried class, then the monthly income of the candidate must be up to 50 thousand.
two: If the borrower candidate is a businessman, then the monthly income must be up to 80,000
Number three: The salaried person has to submit the salary proof or the assignment certificate along with his application.
four: If the candidate is taking the loan for construction, then the candidate should have all the documents of the plot.
Number five: The candidate will also need a bank statement and a copy of an identity card and a photograph to be submitted along with the form.
If the bank team demands another document after seeing the customer’s situation, it will be necessary to provide it to the customer.
How To Apply For Loan Without Interest In Pakistan
Men and women who want to take a loan from Al-Baraka Bank to build or buy a house should go to any branch near them and fill-up the form and submit it along with the required documents.
In case the loan is approved, the candidate will be called by the bank and the loan will be given to the candidate
Loan Without Interest In Pakistan Al-Baraka Bank