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;
|
|
| 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 |
OR
|
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 |
|
|
Eligibility Criteria
- Income Requirement:
Individual’s net disposable monthly income up to PKR 100,000/-
- Availability:
After the 100% disbursement under GAS-Flexi scheme
- Facility Amount to be Transferred:
Principal Outstanding
- Replacement Behaviour:
All over dues has been cleared and no write off outstanding in e-CIB at the time of availing this facilty
- 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.
- Others:
The loans which are already matured (i.e. expired) under GAS – Flexi will not be eligible to avail the said facility.
- 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.
- Availability:
After the 100% disbursement under GAS-Flexi scheme
- Facility Amount to be Transferred:
Principal Outstanding
- Replacement Behaviour:
All over dues has been cleared and no write off outstanding in e-CIB at the time of availing this facility
- 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.
- 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 |