Govt launches ‘Mera Ghar – Mera Ashiana’ scheme with loans up to Rs3.5 million

The federal government has introduced a new scheme called “Mera Ghar – Mera Ashiana” to help citizens buy or build their first home. The program is designed to make housing finance affordable and easy to access.

The State Bank of Pakistan (SBP) has issued details of the scheme and instructed all commercial banks, Islamic banks, microfinance banks (MFBs), and House Building Finance Company Limited (HBFCL) to offer it across the country.

Who Can Apply?

• Only first-time home owners are eligible.

• Applicants must be Pakistani citizens with a valid CNIC.

• They must not already own any house or flat in their name.

The loan can be used for:

• Buying a house or flat

• Constructing a house on an already owned plot

• Purchasing a plot and building a house on it

House Size Limit

• House: up to 5 Marla

• Flat/Apartment: up to 1360 sq. ft.

Loan Amount

The scheme offers loans in two categories:

• Tier 1: Up to Rs. 2 million

• Tier 2: Above Rs. 2 million and up to Rs. 3.5 million

Loan Period

• Maximum 20 years

• Government subsidy available for the first 10 years

Bank Charges

• Markup Rate: One-Year KIBOR + 3%

• No processing fee

• No prepayment penalty

Loan-to-Value Ratio

• 90% loan from bank

• 10% equity from applicant

Risk Sharing

• SBP will cover 10% of the loan risk under this scheme.

This initiative is aimed at making home ownership possible for thousands of Pakistani families who dream of having their own house.

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