SBP Bans Bank Employees From Cheap Home Loans
The State Bank of Pakistan (SBP) has prohibited employees of banks and other financial institutions from benefiting from the Prime … Read More The post SBP Bans Bank Employees From Cheap Home Loans appeared first on ProPakistani .
The State Bank of Pakistan (SBP) has taken action to prevent bank and financial institution employees from availing the benefits of the Prime Minister’s Apna Ghar housing finance scheme, named Wazir e Azam Apna Ghar Program. This decision was communicated to all relevant institutions through the central bank's directive. Employees who are involved in facilitating housing loans for the public are also being informed about the new policy.
The government's initiative aims to make affordable housing accessible for Pakistani citizens, providing subsidies and risk-sharing arrangements for the purchase of homes, apartments, plots, and construction of homes on existing land. The scheme caters to housing units of up to 10 marla or flats up to 1,500 square feet, with a maximum financing limit of Rs.
10 million and a repayment period of up to 20 years, subsidized by the government for the initial decade.
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