Dear friends,
I am planning to get loan from Meezan Bank, I know the technical details, but just want to know if anyone has experience with this bank and specifically this loan, as their are some factors which will increase every year, like rent and profit ratio...
Also would appreciate if their is any alternate based on the same Riba free mechanism.
Thanks in advance.
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Do not go to Meezan, as they just charge you high with a feeling that you are in a shariah mode Investment.
Go to anywhere else where they can treat you professionaly
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Tariq
Ali is right Me an charge extra, you may check Islamic bank, they charge kibor +3% but you can negotiate, this bank is also sharia complying http://www.bankislami.com.pk/product_services/muskun/#?1
Bank Islami provides MUSKUN home financing facility, which is based on the principle of diminishing Musharakah and Ijarah.
The diminishing Musharakah transaction is based on the Shirkat-ul-Milk principle where the bank will participate in the ownership of the property. You and the bank will mutually agree upon the terms and you will have to buy the units owned by the bank periodically until you have purchased all the units and have become the sole owner.
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Whichever bank you choose, keep one thing in mind that whatever the sales person or your relationship officer tells you is ONLY true if it is clearly stated in the loan agreement also. The relationship officers will keep changing at your bank over the years but your loan agreement will be fixed till final closure.
Contact Aslam Parvaiz +92 333 3375282 he offered me kibor +2% after negosiation, he is Mezan Bank represantative
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Bank Islami is good alternative.
Well, talking of islamic banks, i think meezan is just fine cz i had a detailed discussion over this with some1 who’d a better insight on ths islamic banking thing… So far meezan is the only bank that is actually copmlying r struggling to comply with sharia.
Tariq Sb I have personally experienced Meezan’s home loan as well as their car loan. I actually had no problems. Halfway through the loan period, I decided to sell the house and the bank didn’t give me any trouble. Documents were cleared in 2 weeks and they didn’t ask for any mark-up, only the remaining principal amount.
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In banking sector SHARIA and Riba free or interest free loans are only in words, you must pay the interest against any kind of loan rather secured or unsecured, no matter which bank you are taking from.
Dear Tayab you have limited knowledge , according to your statement all personal are on rental property are paying the interest instead of rent , better to go & check with Darool Uloom Korangi or read the detail in fatwa about the rental & property share purchase
I also need the suggestion regarding Loan which Bank should I choose and whats the procedure ?
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@Arsalan Khan. If your preference is Islamic banking, I would suggest bank islami. Their product is slightly superior, as they do not have a re-pricing on maturity option clause in their agreement, which meezan bank have. Other then that, they are almost similar.
And I forgot to mention, better wait for 2-3 weeks before approaching any bank. Banks are in the process of revising their rates.
Try to avoid bank loans as much as you can. This is a brotherly sincere advice and you will pray for me in the future.
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Dubai Islamic Bank also have good home financing options and they offer two different models. You can check the details on the website along with the installment calculator
Hi sir,madam and brothers aim working abroad not in the country Pakistan. Did can i get loan from AL meezan bank in Pakistan to buy home and paying monthly installment please advise
thanxxxxxx.
Hi,
I just wanted to know that can i get loan against my property documents from any bank. Please give fare suggestions. I own a house worth 90 lac, and how much loan i can get againts this property.
Regards,
AOA,
Please satisfy me that the loan from Mezan Bank and Islamic Bank is "Riba" free. I was ready to take loan from national bank, but now I am confused. Thanks
Waqas
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I want loan 5 Lac rupees, Any one can help me, I shell pay 20,000 per month, But Must Interest free, and shell gift ( in the shape of money) . If any one can help me please contact me