Important Markup Subsidy Program FAQs about the Mera Pakistan Mera Ghar Scheme

Under the premiership of PM Imran Khan, the incumbent government of Pakistan launched a flagship "Mera Pakistan Mera Ghar Scheme" in the latter half of 2020. The apex bank, the State Bank of Pakistan, runs and holds up this markup subsidy program. The concerned authorities have kept a budget of Rs.36 billion to facilitate the general people with an amazing home loan facility possessing easy and subsidized terms & conditions. Several important FAQs of the markup subsidy program related to the Mera Pakistan Mera Ghar Scheme have been discussed in the coming part of the blog.

Under this scheme, the Pakistani working class will be able to buy their own homes. Almost all commercial banks in Pakistan are on board with the apex bank, SBP, to stretch the government's markup financial aid program across Pakistan.

A few days back, the premier, Imran Khan, was invited as a Chief Guest to a ceremony regarding the approvals of Rs.100 billion for the Mera Pakistan Mera Ghar Scheme. While addressing the ceremony, he considered PKR 100 billion approval a Big Moment in the scheme.

There were several hurdles earlier when a common person used to go to the bank, which the people won't face now," the PM remarked." Pakistanis who worked as labourers overseas had one dream — to build a house for themselves and their families," the prime minister said. He appreciated the team's efforts and showed satisfaction with the excellent progress of the scheme. Till August 2021, loans worth up to PKR 59 billion have been validated for the Mera Ghar applicants, the tweet of SBP claims.

Still, many eligible people are unaware of the complete details of the scheme. In this blog, Apex Group has gathered several FAQs of the Mera Pakistan Mera Ghar Scheme to help people understand every point of this compass.

So, without any more delay, let's move straight to FAQs!

Can I apply for Mera Pakistan Mera Ghar Scheme?

Yes, if you are a Pakistani citizen and have a valid CNIC, you can apply for Mera Pakistan Mera Ghar Scheme. Moreover, you should be a first-time house buyer and get a subsidized home loan only once.

How much loan can one borrow using the scheme?

The State Bank of Pakistan recently amended that one can buy up to PKR 10 million utilizing this home facility.

Can I buy a plot using this home loan facility?

Yes, you can purchase a plot under this subsidized loan facility. The important thing, the land will be used to construct a house, not for investment purposes.

What are the required documents for the scheme?

• Copy of CNIC
• Employment Letter
• Salary Slip/ Bank Statement
• Application Form for Formal Business- Blue
•  Application Form for Informal Income- Pink
• Application Form for Salaried Person- Green
• Urdu Application Form for formal Business- Blue
• Urdu Application Form for Informal Income Person
• Urdu Application Form for Salaried Person- Green

What actually are the Credit Tiers in the Markup Subsidy Program?

The Government of Pakistan has announced the Markup Subsidy Program to assist the Mera Pakistan Mera Ghar Scheme.

The subsidy program is divided into four tiers, ranging from Tier 0 to Tier 3. It is pertinent to mention that Tier 1 is related to the low-cost housing units endorsed by the Naya Pakistan Housing and Development Authority (NAPHDA).

What are the housing size limit and maximum amount limit in every tier of the subsidy program?

What is the Markup Percentage for each Credit Tier?

What should be my job experience?

No minimum or maximum job experience.

What should be my maximum monthly salary?

No minimum or maximum monthly salary.

How can we apply for Mera Pakistan Mera Ghar Scheme?

It is pretty simple. You can apply for this scheme either through the website's updated form or by visiting any nearby bank branch.

What is the minimum duration of loan allowed in the Markup Subsidy Scheme?

The SBP has made a few recent amendments to the Markup Subsidy Scheme. Under the government's 'Mera Pakistan Mera Ghar' scheme, you can avail of the loan for a minimum of five years; previously, the loan tenure was ten years. Moreover, you can now extend the loan tenure to 20 years, as per your requirements.

What do I need to provide security against the required loan I am applying for?

As per the official rules of SBP, the same housing unit that is being financed will be mortgaged in the financial institution's favour, which is providing you with the loan. It is an easy solution to fulfil that bank's loan security requirement.

How to file a complaint as a loan borrower of the Mera Pakistan Mera Ghar Scheme?

There are Special Service Desks in every concerned bank branch for this purpose. You can also file a complaint on the Online Portal of SBP. These service desks are to sort out the queries and complaints of loan borrowers.

So, it brings us to the comprehensive blog of all important Markup Subsidy Program FAQs about the Mera Pakistan Mera Ghar Scheme.

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