Multan: The Defence Housing Authority (DHA) Multan has notified its successful negotiation proceedings with Bank Al-Habib Ltd (BAHL) for a special ‘Home Construction Finance Rate’ under which DHA Multan members will be offered a home construction loan at a subsidised rate of 1 Year Kibor + 1.75% per annum, according to a post published on the society’s official Facebook on December 2.

This home construction loan facility will also feature:
1. Life insurance of the applicant (up to financing amount) at BAHL’s cost
2. No extra charges in case of the early loan settlement
The eligibility criteria for this facility is listed below:
The maximum financing range in PKR 10 million to PKR 15 million. The financing tenure will be spread over a period of 25 years. The loan applicants should have minimum monthly income of PKR 60,000 (for salaried individuals) and PKR 100,000 (for businessmen). The minimum equity for this loan is 30%. The bank’s eligibility criteria and other condition will also apply.