U Bank Loan Scheme Apply Online – U Bank Home Loan Scheme 2024
U Bank Loan Scheme, Financing low-cost housing under the Government Supplement Grant Scheme. U Microfinance Bank offers a housing finance program under the government’s allowance subsidy scheme for businesses and employees to purchase a new home or apartment, build a home, or expand an existing home. We are sharing all the information regarding the u bank loan scheme online application.
The primary purpose of the U Bank loan scheme online is to apply
- Buying or building a house or apartment
- For the purchase of land for the construction of a house
- For making a house on the customer’s site
- Extension to an existing house
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U Bank Home Loan – Government Mark-up Subsidy Scheme
U Microfinance Bank Ltd. (U bank Loan) is a wholly-owned subsidiary of Etisalat, Pakistan Telecommunications Company Limited (PTCL). The bank has a network of over 200 branches in 183 cities and rural areas of Pakistan and offers a wide range of UBank microfinance loans, deposit products, and branchless banking solutions.
Branchless banking UBank offers services under the UPaisa brand in cooperation with Ufone (Pak Telecom Mobile Limited). The service is offered at nearly 45,000 agency locations across Pakistan.
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Microfinance Bank Ltd. (U Bank) is a wholly-owned subsidiary of Pakistan Telecommunications Company Limited (PTCL), Etisalat. The bank has a network of over 200 branches in 183 cities and rural areas of Pakistan and offers a wide range of microfinance loans, deposit products, and branchless banking solutions.
Branchless banking U Bank offers services under the U Paisa brand in cooperation with Ufone (Pak Telecom Mobile Limited). The service is offered at nearly 45,000 agency locations across Pakistan.
U Microfinance Bank is proud to be at the forefront of the fight against poverty in Pakistan.
It is committed to playing a critical role in implementing the National Financial Inclusion Strategy 2020, which aims to bring 50% of Pakistani adults into the banking network. At U Microfinance Bank, access to microfinance services goes a long way towards building a more inclusive society, which results in underprivileged banking and helps document the informal economy.
U Bank’s loan product range is designed to continuously create livelihoods for the underprivileged people of Pakistan and improve their lives.
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U Bank Home Loan Scheme Eligibility Criteria
- A resident of Pakistan with a valid CNIC
- Age limit 25-60 years (at the time of applying for a loan)
- First homeowner
- Minimum monthly income of 25,000 rupees
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U Bank loan online applies Pakistan Salient features.
Loan facility from PKR 500,000 to PKR 2,000,000
- Loan facility from PKR 500,000 to PKR 2,000,000
- Loan tenure from 5 to 20 years
- Loan repayment in easy monthly instalments
- Income clubbing is allowed with immediate family members
- With SBP’s direction regarding GMSS, the financed housing unit will be mortgaged in favour of UMBL.
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- House with a covered area of 5 Marl/125 sq.m.
- Apartment with a total area of 1250 sq.
U Bank Loan Scheme home loan markup rate
| First 05 years | 5% |
| 06-10 years old | 7% |
| over 10 years old | KIBOR + 7% |
ubank home loan Required documents
- Original CNIC
- Passport size photo (recent)
- Proof of income
- Title documents for property subject to pledge
- The offered property must be free of any bars and fees.
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Installment:
| Loan amount (PKR) | 500 000 | 700 000 | 1 000 000 | 1 200 000 | 1 500 000 | 1 800 000 | 2 000 000 |
| Installment amount for 10 years | 5303 | 7425 | 10 607 | 12 728 | 15 910 | 19 092 | 21 213 |
| Installment plan for 20 years | 3300 | 4620 | 6600 | 7920 | 9900 | 11 880 | 13 200 |
(The above installment amounts are calculated for the first 05 years)
Apply FAQ
How do I get a loan from U Bank?
To get Loan from U Bank following process need to follow.
1. Copy of CNIC of applicant and guarantor
2. 1 passport size photograph of the applicant and guarantor
3. Copies of utility bills of the applicant and guarantor
4. Residential utility bill (in case of hired guarantor)
What is U Bank Pakistan?
(U Bank) is a subsidiary of the Pakistan Telecommunications Company Limited (PTCL) – Etisalat Company. The bank has a network of over 200 branches in 183 cities and rural areas of Pakistan and offers a wide range of microfinance loans, deposit products and branchless banking solutions.
