Lahore: JS Bank on Tuesday notified its own affordable housing loan scheme titled ‘JS Ghar Apna’ in bid to facilitate the construction of low-cost homes under the government’s Naya Pakistan Housing Programme (NPHP) initiative.
According to the details revealed, JS Bank has launched the new initiative in collaboration with the federal government and the State Bank of Pakistan. These convenient loans will be based on subsidies being provided under the NPHP initiative.
According to the announcement, JS Bank is one of the leading providers of housing finance in the country and intends to increase the reach of its facility.
Tier
Size of Housing Unit
Maximum Price of Unit
Maximum Financing
Rental Rate
Tier 1 (NAPHDA Projects)
Housing unit up to 125 sq yd with covered area up to 850 sq ft
PKR 3.5 million
PKR 3.15 million
5% for first 5 years & 7% for next 5 years For period exceeding 10 years = 1 year KIBOR + 2.5%
Tier 2 (Non-NAPHDA Projects)
Housing unit up to 125 sq yd with covered area up to 850 sq ft
PKR 3.5 million
PKR 3.15 million
5% for first 5 years & 7% for next 5 years For period exceeding 10 years = 1 year KIBOR + 4%
Tier 3
Housing units of more than 125 sq yd and less than 250 sq yd with covered area between 850 sq ft and 1,100 sq ft
PKR 6 million
PKR 5 million
7% for first 5 years & 9% for next 5 years For period exceeding 10 years = 1 year KIBOR + 4%
