The Prime Minister’s Apna Ghar Programme is a low-cost housing finance scheme with a rent subsidy and risk sharing, offered through participating banks. It is meant for people buying a home for the first time.
Key terms
- Finance up to Rs 1 crore, for 1 to 20 years
- 5% fixed per year for the first 10 years; after that, 1-year KIBOR + 3.0%
- No processing fee and no charge for part or early payment
- You must hold a CNIC and own no house, flat or apartment in your name
- House up to 10 marla (2,720 sq ft) or flat up to 1,500 sq ft
- It can be used to buy a house or flat, to build on a plot you own, or to buy a plot and build on it
What will the installment be?
For the first 10 years (without takaful): on Rs 10 lakh about Rs 6,600 a month over 20 years; on Rs 50 lakh about Rs 32,998; on Rs 1 crore about Rs 65,996. Over 15 years the Rs 1 crore installment is Rs 79,079 and over 10 years Rs 106,066. Legal and other expenses are charged at actual cost.
Eligibility details such as age and income limits can differ by bank, so ask your bank for its current checklist. Message Sajad Digital Services on WhatsApp if you want help understanding the steps.
