What makes Asaan Ghar Islamic Finance for Home Construction suitable for you?
Customer Convenience
We offers personalized doorsteps services. Our relationship managers visit you, at your convenience, and ensure minimal disruption to yours daily routine.
Fixed Monthly Equal Installment
Aligning with the true spirit of Islamic Finance. Our product comes with fixed monthly installment for full tenure, so that you don’t have any uncertainty about your installment and monthly budget and thus have complete peace of mind.
Easy Early Repayment Options
We facilitates early pre-payments with no additional charges, so that you can reduce your liability as per your own convenience.
Covering all Your Construction Needs
This facility is extended to customers who already own land / want to purchase a piece of land and need funds to meet the cost of constructing property.
Easy Early Repayment Options
We facilitates early pre-payments with no additional charges, so that you can reduce your liability as per your own convenience.
Fixed Monthly Equal Installment from 3 to 5 years
Aligning with the true spirit of Islamic Finance, our product comes with fixed monthly installment from 3 to 5 years, so that you don’t have any uncertainty about your installment and monthly budget for a longer period and thus have complete peace of mind.
Asaan Ghar Islamic Finance for Home Construction – Frequently Asked Questions (FAQs)
What is Asaan Ghar Islamic Finance for Home Construction?
We offer this product to customers who want to build a house on their land and already own land and require money to build a house on it.
I am a salaried individual and I get my salary in cash, can I still get Asaan Ghar Islamic Finance?
Yes, you can avail Asaan Ghar Islamic Finance. Please contact us with details of your requirement and we will accommodate you.
What is eligibility criteria for Asaan Ghar Islamic Finance ?
Click on the Eligibility (link) to know more about eligibility criteria. In a nutshell, your eligibility depends on variety of factors including your family income, credit history or additional financial obligations (if any). Please contact us to get more details.
What documents require to apply for Asaan Ghar Islamic Finance ?
The full and final list of all required documents is available here. We also understand that proper proof of income is not always available with our self-employed customers, so we find other ways to identify your steady source of income. Apply for loan today and our dedicated relationship managers will guide you.
I am a Non-Resident Pakistani; Can I apply for Assan Ghar Islamic Finance?
Yes, absolutely. All Non-Resident Pakistanis with 6 months banking relationships in Pakistan through Roshan Digital Account will be entertained through Asaan Ghar Islamic Finance.
I am a Freelancer and earning my income through foreign projects, can I still get Asaan Ghar Islamic Finance?
Yes, absolutely. All Freelancers that are working for at least 5 years and receiving payments through banking channels will be entertained. Please contact us with details of your requirement and we will accommodate you.
What is the minimum and maximum financing limits available ?
| Home Construction | PKR. 500,000 to PKR 10 million |
Can I get the Asaan Ghar Islamic Finance for commercial properties?
As per SECP’s Regulations, only residential property is allowed to be financed under Home Finance product.
How will I repay my Asaan Ghar Islamic Finance?
You can pay Asaan Ghar Islamic Finance monthly installment through our available online banking solutions including all banks mobile applications, easy paisa, jazz cash etc.
Can I make Partial Payments / Balloon payments?
Yes, You can pay up to 25% of total facility value each year without any charges. We encourages our customers to increase long term savings by reducing monthly installments through regular early payments.
What is mandatory Co-Applicant requirement?
We understand that selection of your dream home is a whole family decision and thus we encourages our customers to include spouse or immediate blood relatives (son, father or mother) as co-applicant. We also considers all sources of income while deciding the facility amount and monthly installments.
Can I purchase under construction property ?
We are currently not financing under construction properties and only facilitating financing against existing residential property.
In what cities I can avail Asaan Ghar Islamic Finance?
Currently, Asaan Ghar Islamic Finance facility is available in Karachi, Lahore & Islamabad.
How quickly can I purchase the house from date of application ?
It takes only 15 working days from customer application to disbursement, concerning all the documents are in order.
What is the Early Purchase Price / Early Settlement ?
Following Early Purchase / Settlement Price will apply:
| 1st year | 4.5% of outstanding amount |
| 2nd year | 3.0% of outstanding amount |
| 3rd year | 1.50% of outstanding amount |
| 4th Year onwards | No charges |
What happens if I pay an installment amount late?
Company shall grant some time for payment of the installment. But if there is no reasonable reason for delay in payment of rent after 7 days, then the user shall give charity of Rs.100 per day for which he shall take vow in advance.
Product Structure
The underlying Islamic mode of Asaan Ghar Islamic Finance is Diminishing Musharakah. Diminishing Musharakah (Shirkat ul Milk) is a form of co-ownership in which Asaan Ghar and customer will share in the joint ownership of house in an agreed proportion. It is agreed that one of the co-owners (customer) will purchase, in periodic instalments, the share of the other co-owner (Asaan Ghar) until the ownership of that house is completely transferred to the purchasing co-owner (customer). Furthermore, along with the purchase of share, the co-owner (customer) will also make agreed periodic payments (rent) for the usage of other co-owner’s share (Asaan Ghar) in the asset, till ownership of the asset is completely transferred to the customer.
