FIRST Home Loan

Housing Finance Product up to PKR 1,000,000

FIRST Home Loan is a loan product for individuals looking to improve their living conditions. Under the product applicant can finance home improvements; e.g. reinforcement of house structure, construction of a room, getting a paint job, plumbing and sanitation improvement, electrical system or appliances installation.

Eligibility Criteria
  • Annual income (net of business expenses) not exceeding PKR 600,000,or as instructed by the regulatory limitby State Bank of Pakistan, from time to time
  • Valid CNIC
  • Age between 18-64 years
  • Salaried Individuals:Permanent employment in government / private / semi-government institution, with minimum length of employment
  • Self Employed Individuals:3 years of business experience in the same business
  • Pensioners:Pensioners can also avail the Housing Financing Facility
Type of Credit
  • Medium & Long Term Finance
Purpose of Credit
  • Housing loans can be given for non-structural improvement, structural improvement or new construction
  • Non-structural improvements are minor improvements to houses e.g. repairs, paint, carpeting of Floors, plumbing etc
  • In case of rented property, the client can only avail loan for movable assets e.g. furniture and fixture, etc.
  • Structural Improvements are incremental improvements in the existing home i.e. major permanent improvement to housing e.g. addition of a room, bathroom, etc.;
  • New Construction includes construction of housing structure on plot, completion of a new structure etc.
Lending Methodology
  • Individual Loans
Loan Amount
  • Non-Structural Improvement: Minimum: Pkr 150,001, Maximum: Pkr 300,000
  • Structural or New Construction: Minimum: Pkr 300,001, Maximum: Pkr 1,000,000
Loan Tenor
  • Non-Structural: Up to 3 Years
  • Structural or New Construction:Up to 15 Years
Loan Repayment
  • Equal Monthly Installments
  • Equal Quarterly Installments (Only in selected mountainous areas)
Security Arrangements
  • Personal Guarantee (Own and Third Party Guarantee)
  • Salary Account Lien Marking
  • Pension Account Lien Marking
  • Equitable Mortgage
  • Cash/Near-Cash Collaterals (National Savings Certificate, FMFB Current or TDR account Lien Marking)
Other Benefits
  • Credit Linked Life Insurance
Other Important Information
  • Bank reserves the right to re-price the loan after 3 years based on its pricing policy
Schedule of Charges
  • Bank Charges & Government Taxes will be deducted as per prevailing Schedule of Charges, available on FMFB’s website and nearest branch.

Other Terms & Conditions Apply Download