Faysal Bank Car Loan | Faysal Bank Loan Policy | Home Loan

Faysal Bank Car Loan|Faysal Bank Loan Policy|Home Loan
Faysal Bank Car Loan|Faysal Bank Loan Policy|Home Loan

Faysal Bank Car Loan|Faysal Bank Loan Policy|Faysal Bank Personal Loan|Faysal Bank Home Loan

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Faysal Islamic Home Finance is based on the principles of Diminishing Musharakah. “Faysal Bank Car Loan” This is a medium and long term financing product, where the Bank and the customer jointly purchase an asset and create joint ownership in the asset. The Bank rent out its share in the asset to the customer while the customer periodically purchases units of ownership in the asset from the Bank. After purchase of all the units the customer becomes the sole owner of the asset.


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Product Features & Benefits

Faysal Islamic Home Finance is offering four product variants:

Home Purchase: This type of facility allows you for the purchase of constructed property.

Home Builder/ Plot + Construction: This type of facility is extended to customers who already own land / want to purchase a piece of land and need funds to meet the cost of constructing property.

Home Renovation: This facility is offered to customers who already own a house and require funds for renovations.
Also Read :Barwaqt Emergency Loan in Pakistan| Barwaqt Loan Scheme 2022

Home Re-finance (Transfer existing home finance facility): This type of facility allows you to transfer your existing home finance facility from any other bank to Faysal Bank Limited Islamic Banking.

Fixed Rate option

Quick processing with minimum documentation
Minimum Limit PKR 500,000/- and Maximum 100 Million or up to 75% of the appraised value of your property
Tenure from 1 to 20 years (For Home Renovation minimum 2 and maximum is 15 Years)
Flexibility to make Partial Pre-payments
Property Takaful coverage
Accidental death Takaful coverage
Property rental Income can be considered as primary income or additional to the basic income
Income clubbing option with close relative
Non- resident Pakistanis (NRPs) are also eligible to apply for home finance facility. Documents required

Eligibility Criteria

Citizenship: Pakistani
Cities: All Pakistan

Age Limit:

Salaried – Min 21 Years and Max 60 Years at the time maturity
SEB/SEP – Min 21 Year and Max 65 Years at the time of maturity
NRP – Min 21 years and Max 60 Years at the time maturity

Employment Tenure:

Salaried – No employment tenure for Approved Companies
2 Years employment tenure for Unapproved Companies

SEB/SEP – 2 Years business proof through (Bank certificate / NTN certificate / Partnership Deed / Certificate of Incorporation / Form A / Form 29, etc.)

NRP – Minimum 2 years continues job

Documents Required:

Salaried – Other
Copy of CNIC
2 Passport Size Photographs
Also Read :NBP Interest Free Loan – National Bank of Pakistan Loan – Student Loan Scheme – NBP Student Loan
Last six months’ Salary Slips (Original) Other
Salary Certificate / Employment Certificate (Designation, Date of Joining, Permanent – Status, Salary Breakup) (Original)
Last 12 months Bank Statement (Original)
Copy of Complete property documents

OUR CONTACT CENTRE/ HELPLINE NUMBER

Help Line: 021 111-06-06-06

Faysal Bank Car Loan – Faysal Bank Loan Policy – Faysal Bank Personal Loan – Faysal Bank home Loan

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