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  • Maximum financing against property value
  • Exclusive price offering
  • Flexibility to make partial pre-payments with zero charges after the first year
  • For the first year, 1% will be charged upon early termination; afterward, no charges will be levied
  • Lowest processing fee of PKR Rs. 4,000/- (exclusive of FED)
  • Government Mark-up subsidy scheme (GMSS) for housing finance will be applicable as per already defined criteria under respective tiers

 

Profit Rate
FEES/CHARGES
Variable Rate
Fixed rate (5- Years)(where applicable)
1-year KIBOR*
5-Year PKRV**
  • Processing Fees – PKR 4,000 + FEED
  • Early Termination Price – 1% for first year, Nil there after
  • Penalty may apply in case of delay in Payment.
  • Property Appraisal – At Actual
  • Legal Opinion – At Actual

*KIBOR – Karachi Interbank Offer Rate, announced on the 1st working day of each calendar month immediately preceding the year’s end of (transaction).

** PKRV – Pakistan Revaluation Rate, announced on the 1st working day of each calendar month immediately preceding the year’s end of (transaction).

Note:

For a fixed rate, after the fixed-rate period, the customer will have an option to choose either to 1) Continue on fixed-rate offer by JS Bank at the time of repricing OR 2) Opt for variable pricing/rate from the 5th year onwards.

Profit Rate
FEES/CHARGES
Variable Rate
Fixed rate (5- Years)(where applicable)
1-year KIBOR + 1.5%
5yr PKRV + 1.50%
  • Processing Fees – PKR 4,000 + FEED
  • Early Termination Price – 1% for first year, Nil there after
  • Charity may apply in case of delay in Payment
  • Property Appraisal – At Actual
  • Legal Opinion – At Actual

*KIBOR – Karachi Interbank Offer Rate, announced on the 1st working day of each calendar month immediately preceding the year’s end of (transaction).
.
** PKRV – Pakistan Revaluation Rate, announced on the 1st working day of each calendar month immediately preceding the year’s end of (transaction).

Note:

i. For fixed rate regime, customer will have an option to choose either to
a. Continue on Fixed rate offer by the participating bank at the time of repricing OR
b. To opt for a variable pricing/rates will be applicable after 5th year.
ii. Pricing will be reevaluated after every six months or any change in discount rate
announced by SBP

 

Following criteria will be applicable to those RDA/INPC customer who are willing to avail house finance facility without lien marking and are not eligible / qualified for GMSS.

Citizenship All non-resident RDA accountholders having valid NICOP
Product Category Buy, Build, Renovate
Target Market

Salaried Individual

Non-salaried individual
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

  • Salaried Individual The age of applicant must not exceed 60 years
    however, may be extended to 65 years provided applicant justifies that
    he/ she can repay the loan even after retirement age.
  • Non-salaried individual The age of applicant must not exceed 65 years.

In case income is not clubbed;

  • There will be no age restriction for co-borrower / applicant In case of
    income is clubbed;
  • Same age criteria will be applicable as that of main applicant for
    Coborrower / applicant.
Financing Range (Buy, Build)
  • Minimum Rs. 500,000/-
  • Maximum Rs. 100 Million
Financing Range (Renovate only)
  • Minimum Rs. 500,000/-
  • Maximum Rs. 10 million
Financing Tenure 3 to 25 Years
Payment frequency Option
  • UMI: Un Equal Monthly Installment
  • EMI: Equal Monthly Installment
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

Following criteria will be applicable to those RDA/INPC customer who are willing to avail house finance facility with lien marking and doesn’t eligible / qualifies for GMSS.

Citizenship All non-resident RDA accountholders having valid NICOP & POC
Product Category Buy, Build, Renovate
Target Market
  • Salaried
  • Non-salaried
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

  • Salaried Individual
    The age of applicant must not exceed 60 years however, may be extended
    to 65 years provided applicant justifies that he/ she can repay the loan
    even after retirement age.
  • Non-salaried individual
    The age of applicant must not exceed 65 years.

In case income is not clubbed;

  • There will be no age restriction for co-borrower / applicant

In case of income clubbing;

  • Same age criteria will be applicable as that of main applicant for Coborrower / applicant.
Financing Range (Buy &
Build)
  • Minimum Rs. 500,000/-
  • Maximum No cap
Financing Range (Renovate
only)
  • Minimum Rs. 500,000/-
  • Maximum No cap
Financing Tenure 3 to 25 Years
Payment Frequency Option
  • UMI: Unequal Monthly Installment
  • EMI: Equal Monthly Installment
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.

Following criteria will be applicable to those RDA / INPC customer who are willing to avail house finance facility under Govt. mark-up subsidy scheme for house finance.

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
  • First time home owner
  • One individual can have subsidized house finance facility under the scheme only once
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
  • Salaried individual
  • Non-Salaried individual
Financing Tenor Minimum 5 years and maximum 20 years financing tenor, depending upon choice of customers
Early Payment/ Unit Purchase Option
  • No restrictions on Early Payment/unit Purchase.
  • Upon early unit purchase, subject to appreciation in property price, musharakah units will be revalued at 0% higher price.
  • In Builder case, unit purchase will start after 12 months of disbursement of last trench.
Age (Applicant & Co-applicant) 20 to 65 years

  • Salaried Individual The age of applicant must not exceed 60 years however, may be extended to 65 years provided applicant justifies that he/ she can repay the loan even after retirement age.
  • Non-salaried individual The age of applicant must not exceed 65 years.

Co-applicant’s age must not exceed 65 years at the time of maturity, incase income of coapplicant is not clubbed. However, if co-applicant’s income is clubbed, then the age criteria same as applicant will be applicable. For the purpose of income clubbing, only a nonresident Pakistanis can be considered
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
  • Salaried Individual: Income will be ascertained through salary slip / certificate with 6- months bank statement where salary credited/reflected.
  • Non-salaried individual: Income will be ascertained through bank statement proxy of last one year
Employment status (for Salaried individual only) Both permanent and contractual
Employment / Business Tenure Minimum overall employment / business tenure will be two years
  • Applicant’s copy of NICOP
  • Copy of Co-Applicant’s CNIC/ NICOP
  • Two passport-sized coloured photographs of applicant and co-applicant(s) each.
  • Employer’s certificate including tenor/designation/renumeration details.
  • Employment Contract (if applicable)
  • Last three-month salary slip.
  • Copy of Professional Association Membership Certificate / Practice License (if applicable)
  • Bank Statement – last 12 months (Original OR duly attested by the bank with stamp / notary public) through embassy.
  • Copies/ details of any financing facility being availed in the country of employment or in Pakistan
  • Copies of educational qualification degree / certificates.
  • Copy of Rental Documents (if applicable)
  • Copy of recent Credit Card Bills. (if applicable)
  • Copies of last 2 years tax documents where applicable
  • Credit Bureau Report of stay country
  • Proof of allotment, transfer and /or Title document of the property to be mortgaged
  • Applicant’s copy of NICOP
  • Copy of Co-Applicant’s CNIC/ NICOP
  • Two passport-sized coloured photographs of applicant and co-applicant(s) each.
  • Valid Business Proof
  • Bank Statement – last 12 months (Original OR duly attested by the bank with stamp / notary public) through embassy.
  • Copies/ details of any financing facility being availed in the country of employment or in Pakistan
  • Copies of educational qualification degree / certificates.
  • Copy of Rental Documents (if applicable)
  • Copy of recent Credit Card Bills. (if applicable)
  • Copies of last 2 years tax documents where applicable
  • Credit Bureau Report of stay country
  • Proof of allotment, transfer and /or Title document of the property to be mortgaged

Q1. Who can open a Roshan Digital account?

A. JS Bank offers a wide range of products including:

  • Home buyer – you can buy an apartment/house
  • Home build – construct on an already owned plot (self-spouse)
  • Plot purchase and construct on it
  • Home Renovation
  • JS – MPMG (Govt. Markup Subsidy Scheme for Housing Finance)

Q2. Who can apply for JS Roshan Apni Car?

A. Customers maintaining their JS Roshan Digital Account with JS Bank. https://jsbl.com/branch-locator/

Q3. What is the basic eligibility to avail JS Roshan Apni Car facility?

A. The basic eligibility criteria for applying for Roshan Apni Car is Roshan Digital Account with JS Bank and valid NICOP / CNIC / SNIC.

Q4. What are the financing options of Roshan Apni Car?

A. The following financing options can be opted for:

  • Lien Based Financing
  • Non-Lien Based Financing

Q5. What is the Lien-Based Segment?

A. In a lien-based segment, you have to invest in Islamic /conventional Naya Pakistan Certificates or have a balance in your Roshan Digital Account in Pak Rupees equivalent to the financing amount, which will be a lien/ pledge equal to the tenure of financing.
You cannot premature the certificate or withdraw/repatriate the funds from your Roshan Digital Account until the maturity or full settlement of the financing.

Q6. What will be the total processing time after I apply for a home finance?

A. Your application shall only be processed once you submit all documentation and information to our satisfaction. If your loan gets approval from the Bank’s internal credit department, we shall start proceeding with all legal formalities related to the property. Next, we will wait for your instruction to disburse the facility.

Q7. How much financing amount am I eligible for?

A. Minimum of PKR 500,000/- and maximum of PKR 100 Million, depending upon your repayment capacity.

Q8. What is security or mortgage charge requirements to avail JS Roshan Apna Ghar?

A. a. Lien-based Product: No requirements of a mortgage
b. Non–lien-based Product: Equitable mortgage for all and token registered mortgage for customers based on their risk profile.

Q9. What is the co-applicant requirement for availing Roshan Apna Ghar?

a. Lien-based Product: Co-applicant optional at the discretion of the applicant. However, the borrower will nominate a person who can be a lawyer, a relative, or a friend to facilitate the transaction in Pakistan. The nominee cannot be optional in the absence of a co-applicant; the applicant will have to nominate someone to facilitate the transaction, receive Pos, etc.
b. Non–lien Product: Co-applicant is mandatory. Co-applicant will be an immediate family member like a spouse, parents, adult siblings & children living in Pakistan.

Q10. What markup options are available in Roshan Apna Ghar?

A. Markup will be variable linked with 1-Year KIBOR (benchmark) and Bank’s margin. Bank margin, over and above the benchmark rate, will be as low as 1.5% in non-lien based. Bank offers exclusive pricing in case of lien-based financing.

Q11. What would be the application costs in total?

A. Please refer to the “Schedule of Charges” for detailed information on application charges.

Q12. What happens in case there is a delay in payment of installment?

A. A late payment penalty will be levied that you will be required to clear off at the end of your financing tenure. For details on late payment charges please refer to “Schedule of Charges.”

Q13. Can I make an early payment to settle my loan?

A. Yes, there is flexibility to make partial pre-payments with zero charges after the first year.

Q14. Is there any early payment facility/early purchase settlement available?

A. For the first year, 1% will be charged upon Early Termination; afterward, NO charges will be levied.

Q15. What is the requirement of the physical presence of the buyer or Power of Attorney (PA) for the registration of Sale Deed and Creation of Charge?

A.

  • Lien-based Product: not required as the property can be transferred in his/her name ex-parte subject to respective; his/her nominee can witness the transaction to ensure that the sale deed is duly executed/registered in his/her name.
  • Non –lien Product: either physical presence or PA is required to collect the title documents and to create a charge in favor of the Bank.
  • Outright Purchase: Physical presence or PA not required as the property can be transferred in his/her name ex-parte subject to respective authority’s discretion; his/her nominee can witness the transaction to ensure that the sale deed is duly executed/registered in his/her name.

16. Are financing rates (KIBOR & JS Bank mark-up) negotiable?

A. KIBOR is subject to revision every year, JS Bank rates are non-negotiable and fixed throughout the life of your tenure. Hence, your financing tenure shall be revised yearly to reflect changes.

17. What other charges I shall be required to pay apart from JS Bank’s mark up?

A. One-time charges to process your application processing, income estimation, legal opinion on property will be applicable. These charges are non-refundable irrespective of the outcome of your application.

18. What would be the mode of payment?

A. We accept postdated cheques, monthly deposit of cash, cheque in account, direct debit.

19. Why choose JS Bank over other banks?

A.

  • We provide multiple financing options i.e. Home/apartment purchase, home construction on own plot, plot purchase + construction, and home renovation.
  • We provide end-to-end advisory services
  • Our policy is to secure your investment by providing mandatory Life and Property Insurance at economical rates
  • Your property Title Documents are thoroughly examined by our legal experts, to ensure any possible future issues regarding legal deficiency in the property/security.

20. What is tax applicability on different types of real estate property in Pakistan?

A. There are different types of taxes applicable on sale-purchase and mortgage of property like Stamp duty, TMA / authority fee, registration fee, withholding tax (Separate for filer & non-filer), Gain tax (Separate for filer & non-filer) etc. These taxes vary from province to province and property rate at which tax rate applies also varies from area to area within a city.

21. What is the process for execution of special power of attorney for pre & post documentation and mortgage formalities?

A. Special power of attorney can be given by the owner(s) of the property to execute sale-purchase transaction, retrieval of tile and ancillary documents from concerned authority/society, submission of documents to banks, execution of mortgage deed and charge creation documents. The template of power of attorney will vary for different societies/authorities and will be executed accordingly.

  • The special power of attorney should be properly filled along with required copies of CNIC/NICOP etc.
  • The owner(s) will execute the special power of attorney in the office of embassy/consulate office of Pakistan in his/her country of residence.
  • The embassy/Consulate office will attest the signature of executant along with witness of documents
  • The identification copies of witnesses
  • Duly attested power of attorney will be sent to attorney-holder to Pakistan for its execution.
  • The power of attorney will be verified by the Ministry of Foreign Affairs office in Pakistan with applicable fee
  • The power of attorney will be registered in the office of sub-registrar (where required)

22. What type of property document(s) are needed to be provided to the Bank in case of self-financing or lien-based financing?

A. In case of self-financing or lien-based financing, where mortgage of property is not required, the customer shall provide a copy of the title deed in his/her name for Bank’s record.

23. What is the requirement of reparability of the funds from disinvestment of the investment in real estate either through bank financing or self-financing?

A. Please review Framework for Investment by Non-Resident Pakistanis (NRPs) in Residential and Commercial Real Estate Sector through NRP Rupee Value Account (NRVA) at link https://www.sbp.org.pk/epd/2020/FEC1-Annex-A.pdf

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.

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