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State Bank of Pakistan announces markup subsidy for ‘Naya Pakistan Housing Scheme
The SBP has announced a mark-up subsidy from the Government of Pakistan for loans for the provision of affordable housing. The Government of Pakistan will provide mark-up subsidies for the construction and purchase of new houses in line with its vision of providing affordable housing to the people. In line with its vision of providing […]
The SBP has announced a mark-up subsidy from the Government of Pakistan for loans for the provision of affordable housing.
The Government of Pakistan will provide mark-up subsidies for the construction and purchase of new houses in line with its vision of providing affordable housing to the people.
In line with its vision of providing affordable housing to the masses, the Government of Pakistan will be providing a markup subsidy facility for the construction and purchase of new houses. This facility will allow all individuals, who will be constructing or buying a new house for the first time, to avail bank’s financing at subsidized and affordable markup rates.
This facility will be provided with the administrative support of the State Bank of Pakistan as an executing partner with the Government of Pakistan and Naya Pakistan Housing and Development Authority (NAPHDA).
The details revealed that loans are available for the purchase of houses/apartments/flats up to 125 square yards with a maximum value of Rs3.5 million. A maximum loan of Rs. 2.7 million will be given for a maximum period of 20 years. The maximum markup rate of banks will be 250 basis points.
The Government of Pakistan will also provide a markup subsidy to borrowers to reduce the markup for the first 5 years to 5%.
