+92 (21) 111-654-321
+92 (51) 111-654-321
+92 (21) 111 JS BANK
+92 (21) 111 57 2265
+92 (21) 263 1803
+92 (21) 3279 9009
JS Bank Limited
Shaheen Commercial Complex
Dr. Ziauddin Ahmed Road
P.O. Box 4847, Karachi-74200
Sindh, Pakistan
Roshan Apna Ghar
JS Bank now offers House Finance Facility to all customers of Roshan Digital Account (RDA). This facility will be available for our customers who are either willing to keep their investment as a lien against their net financing amount as collateral or avail of financing without cash collateral. Further, this will also be available to all the customers of the Government Mark-up Subsidy Scheme for housing finance.
a. Lien based - For customers who are willing to take finance against their investment in INPC or RDA deposit funds. In this case, the deposit will be marked lien as security with the Bank till the time finance is settled. No mortgage will be created on the property.
b. Non-Lien based - For customers who are availing financing facility against mortgage of property being financed.
Apply for loan
Profit Rate |
FEES/CHARGES |
|
Variable Rate |
Fixed rate (5- Years)(where applicable) |
|
1-year KIBOR + 1.5%
|
5yr PKRV + 1.50% |
|
Profit Rate |
FEES/CHARGES |
|
Variable Rate |
Fixed rate (5- Years)(where applicable) |
|
1-Year KIBOR*
|
5-Year PKRV** |
|
Citizenship | All non-resident RDA accountholders having valid NICOP |
Product Category | Buy, Build, Renovate |
Target Market |
|
Co-applicant | Co-applicant is mandatory. Co-applicant will be an immediate family member like spouse, parents, adult siblings & children. At least one should be permanently living in Pakistan. |
Co-Borrower for income clubbing | 100% Co-Borrower’s income will be clubbed in case of spouse. 75% Co-Borrower’s income will be clubbed in case of other than spouse. For the purpose of income clubbing, only a non-resident Pakistanis can be considered. |
Maximum number of coapplicants | Four co-applicants are allowed |
Age (Applicant & Coapplicant / co-borrower) | 20 to 65 years
|
Financing Range (Buy, Build) |
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Financing Range (Renovate only) |
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Financing Tenure | 3 to 25 Years |
Payment frequency Option |
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Bank Investment Ratio (BIR) (Buyer, Builder) | Maximum up to 85% of property value |
Bank Investment Ratio (BIR) (Renovation only) | Up to 30 % of property value |
Number of housing units at a time. | At a time one financing facility may be allowed |
Net Monthly income | There will be no minimum income criteria however, maximum 50% DBR will be kept while underwriting credit facility. |
Debt Burden Ratio | 50% of the net disposable income |
Employment Status (for salaried individual only) | Permanent & Contractual |
Employment / Business Tenure | Minimum overall employment / business tenure will be two years |
Primary applicant | Non-resident RDA accountholder should be the primary applicant |
Citizenship | All non-resident RDA accountholders having valid NICOP & POC |
Product Category | Buy, Build, Renovate |
Target Market |
|
Lien Marking on Finance amount) | Lien marking on customer’s RDA accounts minimum upto the extent of financing
amount.
(INPCs are issued for 3 months, 6 months, 12 months, 3 years and 5 years with no rollover option. Therefore, customer’s undertaking to re-book INPC or maintenance of RDA account (upto the required value) will be obtained, till the settlement/maturity of the finance amount. CAD to ensure that lien remain marked throughout the settlement/maturity of the finance amount. |
Recovery in case of delay / default in rental payments | If customer fails to pay monthly rentals up to 180 DPD, complete facility will be settled with lien account / certificate after completion of collection efforts / dunning process. |
Release of lien amount | RDA deposit/ INPC will be marked lien against net finance amount (NFA) for the complete financing tenure. However, after every two years, Bank will release RDA deposit/INPC from lien marking on principal redemption and customer’s satisfactory repayment history. CAD and Branch banking will be handling the activity. |
Co-applicant / Co-borrower | Co-applicant is not mandatory in this case, however if opted it will be an immediate family member like spouse, parents, adult siblings & children. Further, applicant also has an option of appointing a “nominee” to carry out any assignment on his/her behalf having no legal obligations on nominee. |
Co-applicant / Co-borrower for income clubbing | 100% Co-borrower / Co-applicant income will be clubbed.
For the purpose of income clubbing, only non-resident Pakistanis can beconsidered. |
Maximum number of co-applicants | Four co-applicants are allowed |
Age (Applicant & Coapplicant) | 20 to 65 years
|
Financing Range (Buy & Build) |
|
Financing Range (Renovate only) |
|
Financing Tenure | 3 to 25 Years |
Payment Frequency Option |
|
Bank Investment Ratio - BIR (Buy & Build) | i. In case of Pak rupee: Maximum up to 99% of property value. In case of FYC: Maximum up to 99% of property value (however, lien equal to 105% of property value would be created on INPC/RDA Deposits to cater for foreign exchange rate volatility. |
Bank Investment Ratio - BIR (only Renovate) | Up to 40 % of property value |
Number of housing units at a time | At a time one financing facility may be allowed |
Net Monthly income | There will be no minimum income criteria. |
Debt Burden Ratio | Not applicable |
Employment Status (for salaried individual only) | Permanent & Contractual |
Employment / Business Tenure | Minimum overall employment / business tenure will be one year |
Primary applicant | Non-resident RDA accountholder should be the primary applicant. |
Parameter | Tier 1 (T1) | Tier 2 (T2) | Tier 3 (T3) |
(NAPHDA Projects) | (Non-NAPHDA) | (Non-NAPHDA) | |
Citizenship | All non-resident RDA accountholders having valid NICOP | ||
Eligibility Criteria |
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Product Category | Easy Buyer: Purchase of a constructed residential property (Apartment/Flat/House) Easy Builder: Type 1(A) - Residential Construction on Applicant’s Owned Land Type 1(B) - Purchase of Land & construction of a residential unit thereon. Type 2 - Expansion/Extension of existing residential housing Unit | ||
Size of Unit | a) House upto 125 sq yds (5 Marla) with maximum covered area of 850 sq ft and b) Flat/apartment with maximum covered area of 850 sq ft. | a) House upto 125 sq yds (5 Marla) and b) Flat/apartment with maximum covered area of 1,250 sq ft. | a) House upto 250 sq yds (10 Marla) and b) Flat/apartment with maximum covered area of 2,000 sq ft. |
Subsidized Profit Rate | First 5 years = 3% | First 5 years = 5% | First 5 years = 7% |
Next 5 years = 5% | Next 5 years = 7% | Next 5 years = 9% | |
For period exceeding 10 years = 1-year KIBOR+2.5% | For period exceeding 10 years = 1-year KIBOR+4% | For period exceeding 10 years = 1-year KIBOR+4% | |
Maximum Price of Units | PKR 3.5 million* | NO CAP | NO CAP |
*Market value of a single residential unit at the time of approval of financing | |||
Financing Range | Maximum PKR 2.7 million | Maximum PKR 6.0 million | Maximum PKR 10.0 million |
Bank Investment Ratio (BIR / LTV) | Maximum up to 90% | Maximum up to 85% | |
Target Market |
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Financing Tenor | Minimum 5 years and maximum 20 years financing tenor, depending upon choice of customers | ||
Early Payment/ Unit Purchase Option |
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Age (Applicant & Co-applicant) | 20 to 65 years
|
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Monthly Income | Formal Income: There are no minimum income criteria for formal sector, however maximum 50% DBR will be capped while granting the credit facility. Informal Income: There will be no minimum income criteria for In-formal sector (Only applicable for Tier 1 & Tier 2) | ||
Debt Burden Ratio (DBR) | Maximum up to 50% | ||
Co-applicant Income Clubbing | 100% Co-Borrower’s income will be clubbed in case of spouse. 75% Co-Borrower’s income will be clubbed in case of other than spouse. For the purpose of income clubbing, only a non-resident Pakistanis can be considered. | ||
Income Assessment |
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Employment status (for Salaried individual only) | Both permanent and contractual | ||
Employment / Business Tenure | Minimum overall employment / business tenure will be two years |