Muslim Commercial Bank Home Loan Scheme
A home of your own is a blessing and a long held aspiration of many. Now with MCB Bank Home Loan fulfilling this dream has never been so easy. MCB Bank Home Loan opens doors to numerous sensible financing options to help you purchase, build or renovate your new / existing home.
Karachi, Lahore, Faisalabad, Rawalpindi and Islamabad are the cities where you can purchase, construct or renovate your house through MCB Bank Home Loan.
- Applicant(s) must be Pakistani Resident Nationals
- Salaried, Self Employed Businessmen / Professionals
- Satisfactory verifications
- Satisfactory bureau checks
- Satisfactory income estimation, property valuation and legal opinion
Minimum Loan Amount: PKR 500,000.
Maximum Loan Amount:
Home Purchase: PKR 30 Million
Home Construction: PKR 20 Million
Home Renovation: Up to 70% of the BOQ with maximum financing limit of PKR 20M
Plot Purchase Plus Construction: PKR 30 Million
Copy of valid and original CNIC/SNIC
Two passport size photographs
Declaration of all financing facilities availed from all banks/DFIs
Business /employment proof
Copy of property documents
Any other document required by the Bank
How To Apply
Please contact our call center 111-000-MCB (622).
General Terms And Conditions
Repayment in equal monthly installments (EMI)
Information regarding availed loans from other banks should be authentic
Personal information should be valid
Mandatory verification checks of borrowers and collateral
Bureau reports regarding repayment history of all borrowers wherever applicable should be unambiguous, positive and satisfactory
Property insurance is mandatory
Equitable/Token Registered Mortgage/Registered Mortgage as per Bank’s requirement
Collateral appraisal through bank’s approved valuation agencies
Income estimation through bank’s approved agencies
Extract Of Relevant SBP Regulations And Bank’s Policy On Home Loans
SBP Regulation: Total monthly installment should not exceed 50% of net disposable income
MCB Bank policy: Debt to equity ratio to be as per Bank’s requirement
MCB Bank policy: Maximum loan tenure is 20 years
MCB Bank policy: The collaterals are evaluated by bank’s approved evaluation agencies
MCB Bank policy: Floating rate is extended for home finance which is re-priced on first working day of each year. The spread would, however, remain constant while the change in KIBOR shall affect the pricing.
Note: The information provided is as per the current practice and the policy / process can be changed without prior intimation. Moreover, this is very limited information and the Bank reserves the right to decline / reject any case without assigning/intimating the reason(s) for the same.