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Bachat Scheme For Existing HBFC Customers Of GAS - Flexi

REDUCE YOUR MONTHLY INSTALLMENT

 

The facility of Bachat Scheme is being offered to all the operative account holders of Ghar Aasan Scheme - Flexi (GAS - Flexi) only, who are willing to avail the fixed rate mortgage facility i.e. Ghar Pakistan Scheme (GPS) or Ghar Pakistan Plus Scheme (GPS Plus).

Product Features

 
 

GPS for Low Income Group

GPS Plus for Middle Income Group

Types of Financing

 The facility will be available to following existing customers of GAS - Flexi;

  • Purchase (including Fateh Homes project)
  • Construction
  • Balance Transfer Facility
  • Renovation
Facility Amount

Maximum up to PKR 4,500,000/-

(amount disbursed under GAS – Flexi)

 

Maximum up to PKR 8,800,000/-

(amount disbursed under GAS – Flexi)

Tenure Tenure remaining under existing GAS - Flexi

Tenure remaining under existing GAS - Flexi

Mark-up Rate 12% per annum 13% per annum
Collateral Specification
  • House: Maximum plot size upto 300 sq. yds or 10 marlas
  • Flat: Maximum covered area upto 1400 sq. ft.

OR

  • Maximum appraised value* (i.e. market value) of the property should not exceed PKR 5.00 Million.

Maximum appraised value* (i.e. market value) of the property should not exceed PKR 11.00 Million

* Appraised value assessed at the time of financing under GAS – Flexi will be considered.

Insurance Coverage
  • Life Insurance
  • Property Insurance

Eligibility Criteria

 
  1. Income Requirement:

    Individual’s net disposable monthly income up to PKR 100,000/-



  1. Availability:

    After the 100% disbursement under GAS-Flexi scheme

  1. Facility Amount to be Transferred:

    Principal Outstanding

  1. Replacement Behaviour:

    All over dues has been cleared and no write off outstanding in e-CIB at the time of availing this facilty

  1. Proscribed Checking:

    This facility will not be allowed against the account if the respective applicant / co-applicant (s) / guarantor(s) falls in the proscribed list i.e. OFAC, UNSC, 4th Scheduler and NAB.

  1. Others:

    The loans which are already matured (i.e. expired) under GAS – Flexi will not be eligible to avail the said facility.

  1. Income Requirement:
    • Income (net of taxes and pension contributions) for individual should not exceed PKR 175,000 per month and;
    • Household Income should not exceed PKR 230,000 per month 
    • Guarantor's Income (where applicable) should not exceed the income defined for individual i.e. PKR 175,000 per month.
  1. Availability:

    After the 100% disbursement under GAS-Flexi scheme

  1. Facility Amount to be Transferred:

    Principal Outstanding

  1. Replacement Behaviour:

    All over dues has been cleared and no write off outstanding in e-CIB at the time of availing this facility

  1. Proscribed Checking:

    This facility will not be allowed against the account if the respective applicant / co-applicant (s) / guarantor(s) falls in the proscribed list i.e. OFAC, UNSC, 4th Scheduler and NAB.

  1. Others:

    The loans which are already matured (i.e. expired) under GAS – Flexi will not be eligible to avail the said facility.

 

Schedule of Charges

 
 

GPS for Low Income Group

GPS Plus for Middle Income Group

Processing Fees PKR 5,000/- PKR 5,000/-
Legal Documentation Charges At actual At actual
Property and Life Insurance Premium

At actual

* Insurance / Takaful Companies on HBFC's Approved Panel

At actual

* Insurance / Takaful Companies on HBFC's Approved Panel

Penalty

PKR 1,000/- on each overdue monthly payment

PKR 1,000/- on each overdue monthly payment

Last updated on: 26 Nov, 2019