SBP to Provide Loans Covering Up to 90 Percent of the Cost of Affordable Homes

Posted on 2019/03/14

Islamabad: Tariq Bajwa, Governor of State bank of Pakistan recently said in the interview that according to bank policies loans will be granted for funding the cost of affordable homes.

Addressing a ceremony of State Bank, Governor was informing the public about the affordable housing financial policy in Islamabad.

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Besides, he said, the houses which cost below than 30 Lac Rupees will be considered as Affordable home. And State Bank will provide up to 90% of the loan price of each individual.

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Widows, orphans, transgenders and terrorism affectees would be given a loan on high priority.

He said that the state bank would grant Rs1250 billion for the improvement of the agriculture area in Pakistan.

State Bank also restricted the applicants to rent out or sell those houses which are bought from the bank loan. He also stated, construction will give a lot of job opportunities which are looking for a livelihood.

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As per the reports, the interest rate would be as low as 5%.

affordable homes SBP nexthome state bank of pakistan

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