Prime Minister’s Low Cost Housing Scheme

Government of Pakistan through Ministry of Housing & Works has launched a Housing Scheme with total funds of PKR 5 Billion out of which 3 Billion has been released by the Government of Pakistan till now & subsequently disbursed. Under the said scheme, poor and deserving families will be provided with financial assistance as per Shariah compliant product up to PKR 500,000/- through Akhuwat Islamic Microfinance (AIM). This scheme seeks to support the poor both economically and socially.

Salient Features of the Scheme are as follows:

Financing size up to Rs. 500,000/-
Repayment period is from 13 to 60 months. An early repayment will be welcomed.
Average Monthly rental amount is up to Rs. 10,000/-
Financing will be given for following purposes:
Entire New Construction or Lanter for new house.
Addition of rooms, kitchen & bathroom etc.
Renovation & upgradation.
Application processing fee will be zero.
Rental will be received from the applicant @ 4.49% per annum on total disbursed amount.
Eligibility Criteria for Low Cost Housing Scheme

To be eligible under the said scheme, the applicant must meet the following criteria of having;

Valid CNIC
Age up to 60 years
Applicant must be the owner of the land/house
Valid ownership title or evidence of land/house (may include Registry, Inteqal, Fard, Allotment letter or any other valid evidence deemed appropriate)
Land size of 5 Marla or less or covered area which is not more than 1,360 sqft.
Good social and moral character in community
Monthly household income up to Rs. 60,000.
Residence in the operational area of AIM’s branch.
Should have a clear credit history (if any).
*Preference may be given to widows and households with monthly income below Rs. 40,000.

For further details, please visit our branch nearest to your plot/house under consideration. Complete address & contact details of our branches is available on our website.