Loan For Overseas Pakistani

Personal Loan For Overseas Pakistani | Loan For Overseas Pakistani Online Apply

As globalization continues to bring the world closer together, an increasing number of Pakistani individuals and entrepreneurs are seeking opportunities beyond their homeland.

Whether it’s pursuing higher education, exploring business prospects, or simply building a better life abroad, the aspirations of overseas Pakistanis are diverse and boundless.

However, realizing these dreams often requires financial assistance through loans. Fortunately, there are several proven ways to get Loan For Overseas Pakistani for both personal and business purposes.

In this article, we will explore three reliable avenues that have helped numerous individuals and entrepreneurs in obtaining the necessary funds (Loan For Overseas Pakistani) to turn their aspirations into reality.

So, let’s explore these proven ways of getting a loan for overseas Pakistani, ensuring that no dream remains out of reach.

Loan For Overseas Pakistani | Personal Loan For Overseas Pakistani

Loan For Overseas Pakistani
Loan For Overseas Pakistani

Table of Contents

Loan For Overseas Pakistani: If you’re a Pakistani working abroad and you want to get a loan in Pakistan but aren’t sure how to do so. Then, these three proven ways will help you get a loan for overseas Pakistani easily and quickly.

Whether you seek funds for personal ventures or to expand your business endeavors, these strategies will help you identify the most suitable loan options that cater to your unique circumstances.

Meezan Bank Home Loan For Overseas Pakistani

Meezan-Bank-Loan-For-Overseas-Pakistani
Meezan-Bank-Loan-For-Overseas-Pakistani

Loan For Overseas Pakistani: Meezan Bank understands the unique financial needs of Overseas Pakistanis and offers specialized loan solutions tailored to their requirements.

One such solution is the Meezan Bank Easy Home Scheme, which provides a complete interest (Riba)-free financing option for both residents of Pakistan and overseas Pakistanis.

This innovative approach ensures that individuals can fulfill their dreams of owning a home without compromising their religious beliefs.

Whether you are a resident of Pakistan or an overseas Pakistani, you can benefit from this scheme equally.

Let’s explore the Meezan Bank Easy Home Scheme in detail, discussing the eligibility criteria, documentation requirements, and the process involved in obtaining this interest-free loan for overseas Pakistanis.

Meezan Bank Loan For Overseas Pakistani Key Features

Meezan-Bank-Loan-For-Overseas-Pakistani-Key-Features
Meezan-Bank-Loan-For-Overseas-Pakistani-Key-Features

Loan For Overseas Pakistani: Key Features of Meezan Bank Loan For Overseas Pakistani:

  • High Financing Amounts: Meezan Bank offers substantial financing amounts to Loan For Overseas Pakistani, enabling them to meet their diverse financial needs. This feature ensures that individuals can access significant funds for various purposes, such as property purchase, construction, or renovation.
  • Maximum Finance against Property Value: Meezan Bank provides financing up to a certain percentage of the property’s value, allowing Overseas Pakistanis to secure a loan based on their property’s market worth. This feature ensures that individuals can obtain a substantial amount of financing to support their investment plans effectively.
  • Flexible Pre-payment Plans: Meezan Bank understands that financial circumstances may change over time. Therefore, they offer flexible pre-payment plans that allow borrowers to pay off their loans ahead of schedule without incurring any penalties. This feature enables Overseas Pakistanis to manage their finances efficiently and potentially save on interest payments.
  • Shariah-Compliant Life Takaful: As a Shariah-compliant bank, Meezan Bank ensures that the loan facility for Overseas Pakistanis is aligned with Islamic principles. The bank offers Shariah-compliant life Takaful (insurance) coverage as a mandatory requirement, providing protection and financial security to borrowers and their families in case of unforeseen events.
  • Affordable Rental: Meezan Bank understands the importance of affordability, especially for Overseas Pakistanis who may have multiple financial obligations. To facilitate individuals in managing their finances, Meezan Bank offers loan options with affordable rental (profit) rates. This feature ensures that borrowers can make manageable monthly payments while fulfilling their financial responsibilities.

Meezan Bank Loan For Overseas Pakistani Eligibility Criteria

Meezan-Bank-Loan-For-Overseas-Pakistani-Eligibility-Criteria
Meezan-Bank-Loan-For-Overseas-Pakistani-Eligibility-Criteria

Loan For Overseas Pakistani: Eligibility Criteria for Meezan Bank Loan for Overseas Pakistani:

  • Pakistani Resident and Overseas Pakistani: The Meezan Bank Loan for Overseas Pakistanis is available to both residents of Pakistan and overseas Pakistanis. This means that individuals living within Pakistan or abroad can apply for the loan, making it accessible to a wider range of individuals.
  • Age: The age requirement for the loan is between 25 and 65 years for the primary applicant. Additionally, the co-applicants age should be between 21 and 70 years. This criterion ensures that applicants fall within the specified age range to be eligible for the loan.
  • Minimum Salary: For salaried individuals, the minimum monthly income requirement is set at PKR 40,000. This ensures that applicants have a stable source of income to meet their loan repayment obligations.
  • Self-employed/Businessmen: Self-employed individuals or business owners are also eligible to apply for the Meezan Bank Loan for Overseas Pakistani. However, for this category, the minimum monthly income requirement is higher, set at PKR 70,000. This criterion ensures that self-employed applicants have a sustainable income source to support their loan repayment.
  • Employment Tenure: Salaried applicants must have a minimum work experience of 2 years to be eligible for the loan. This criterion ensures that applicants have a stable employment history, indicating financial stability and the ability to meet their loan obligations. For self-employed individuals and businessmen, the minimum business tenure required is 3 years, demonstrating their business stability and capacity to manage loan repayments.

Meezan Bank Loan For Overseas Pakistani Requirements

Loan For Overseas Pakistani: Documents Required for Meezan Bank Loan for Overseas Pakistani:

  • Filled Application Form: Applicants need to complete the loan application form provided by Meezan Bank. This form includes essential information about the borrower and co-applicant, loan purpose, and other relevant details required for processing the loan application.
  • Copy CNIC: Applicants must provide a copy of their National Identity Card for Overseas Pakistani (NICOP), Pakistan Origin Card (POC), or Computerized National Identity Card (CNIC). This document serves as proof of identification and verifies the applicant’s Pakistani nationality.
  • Co-Applicant’s CNIC: If there is a co-applicant involved in the loan application, a copy of their CNIC is required. The co-applicant could be a spouse, family member, or business partner, depending on the specific loan arrangement.
  • 2 Passport-size Photographs of Applicant and Co-Applicant: Recent passport-size photographs of both the applicant and co-applicant are necessary for identification purposes and to complete the loan application process.
  • Employment Contract: For employed individuals, an employment contract or offer letter from the employer is required. This document provides information about the applicant’s job position, income, and employment terms, confirming their employment status and income source.
  • Salary Slip: Applicants need to provide their recent salary slips as proof of their monthly income. The salary slip indicates the applicant’s earnings, deductions, and other relevant details that help evaluate their financial capacity to repay the loan.
  • Copy of Passport: As the Meezan Bank Loan for Overseas Pakistani caters to overseas Pakistanis, a copy of the applicant’s passport is required. This document serves as proof of their residency abroad and validates their overseas Pakistani status.

How To Apply For Meezan Bank Home Loan Scheme As Overseas Pakistani

How-To-Apply-For-Meezan-Bank-Home-Loan
How-To-Apply-For-Meezan-Bank-Home-Loan

Loan For Overseas Pakistani: Here is a step-by-step guide on how to apply for a Meezan Bank Home Loan:

  • Fill out the Application Form: Obtain the Meezan Bank Home Loan application form from a branch or the bank’s website. Carefully fill out the form, providing accurate information about yourself and the property for which you are seeking financing.
  • Attach Required Documents: Gather all the necessary documents as outlined by Meezan Bank. This typically includes a filled application form, copies of NICOP/POC/CNIC, copies of co-applicants CNIC, two passport-size photographs of the applicant and co-applicant, employment contract, salary slips, and a copy of your passport.
  • Submit the Application: Once you have completed the application form and gathered all the required documents, visit your nearest Meezan Bank branch. Submit the application form and the supporting documents to the bank representative at the home loan desk.
  • Application Processing: Meezan Bank will review your application and documents to assess your eligibility and creditworthiness. They will verify the provided information and conduct necessary checks to evaluate your loan application.
  • Property Evaluation: Meezan Bank may appoint a valuator to assess the value of the property you intend to finance. The evaluator will conduct an evaluation to determine the market value and ensure it aligns with the financing amount requested.
  • Legal Documentation: If your loan application is approved, you will be required to provide legal documentation related to the property, such as ownership documents, property deeds, and any other relevant papers. These documents will be verified by the bank’s legal team.
  • Loan Approval and Offer Letter: Upon successful evaluation and verification of all documents, Meezan Bank will issue an offer letter outlining the terms and conditions of the home loan. Review the offer letter carefully and ensure that you understand the terms and conditions before proceeding.
  • Acceptance and Agreement: If you are satisfied with the terms and conditions stated in the offer letter, sign the acceptance copy and provide it to the bank along with any additional documents requested, if applicable.
  • Disbursement of Funds: Once all the required documentation is complete and the necessary approvals are obtained, Meezan Bank will proceed with the disbursement of funds. The loan amount will be transferred to the designated account, allowing you to utilize the funds for your intended purpose.

PM Housing Loan Scheme | Mera Pakistan Mera Ghar Scheme

Key Features Of The PM Housing Loan Scheme

Key-Features-Of-The-PM-Housing-Loan-Scheme
Key-Features-Of-The-PM-Housing-Loan-Scheme

Loan For Overseas Pakistani: Key features of the PM Housing Loan Scheme include:

  • Attractive Rental Rate: The scheme offers a highly favorable rental rate of 5% for the initial five years. This means that borrowers will only need to pay 5% of the loan amount as rent during this period. This feature aims to provide relief to individuals in the early years of their housing loan, allowing them to manage their finances more comfortably.
  • Generous Financing Limit: The scheme provides a financing limit of up to PKR 10 million. This means that eligible individuals can secure a loan of up to PKR 10 million to facilitate their housing needs. The higher financing limit allows borrowers to invest in better housing options and fulfill their requirements effectively.
  • Waiver of Processing Fee: One of the standout benefits of the PM Housing Loan Scheme is the exemption of processing fees. Borrowers are not required to pay any additional charges or fees during the loan application process. This feature significantly reduces the financial burden on applicants and makes the scheme more accessible and affordable.
  • Flexible Financing Duration: The scheme offers flexible financing options, allowing borrowers to select a repayment tenure ranging from 5 to 20 years. This feature enables individuals to choose a repayment period that aligns with their financial capabilities and long-term goals. It provides borrowers with the flexibility to manage their monthly installments according to their income and expenditure patterns.

PM Housing Loan Scheme Eligibility Criteria+Documents

PM-Housing-Loan-Scheme-Eligibility-Criteria+Documents
PM-Housing-Loan-Scheme-Eligibility-Criteria+Documents

Loan For Overseas Pakistani: The PM Housing Loan Scheme eligibility criteria and required documents include:

Eligibility Criteria

  • Citizenship Requirement: The scheme is open to both men and women who hold a valid Computerized National Identity Card (CNIC). This means that individuals must be citizens of the country to be eligible for the scheme.
  • First-Time Homeowners: The scheme is specifically targeted towards first-time homebuyers. It aims to support individuals who are seeking to purchase their first residential property. This requirement ensures that the benefits of the scheme are provided to those who are in genuine need of affordable housing solutions.

Required Documents

  • Copy of Valid CNIC: Applicants need to provide a copy of their valid CNIC as proof of their identity and citizenship. This document verifies the individual’s eligibility as a citizen of the country.
  • Salary Slip/Bank Statement: Individuals are required to submit their salary slips or bank statements as proof of income. This documentation helps assess the applicant’s financial stability and repayment capacity, which is crucial for loan approval and determining the loan amount.
  • Employment Letter: Applicants need to provide an employment letter from their current employer. This letter serves as evidence of their employment status and income stability. It helps the lender assess the applicant’s ability to repay the loan based on their employment stability.

How To Apply For The PM Housing Loan Scheme

Loan For Overseas Pakistani: To apply for the PM Housing Loan Scheme, follow the step-by-step application process outlined below:

  • Obtain the Application Form: Visit any affiliated bank participating in the PM Housing Loan Scheme to obtain the application form. These banks are authorized to process and disburse loans under the scheme. You can inquire at the bank’s customer service desk or housing loan department for the application form.
  • Fill out the Application Form: Carefully fill out the application form with accurate and complete information. The form will require details such as personal information, employment details, income information, and property-related information. Ensure that you provide all the necessary information and double-check for any errors or omissions.
  • Gather Required Documents: Collect all the required documents as specified by the bank. Typically, the required documents include a copy of your valid CNIC, salary slips or bank statements as proof of income, an employment letter from your current employer, and any other supporting documents that may be requested. Make sure to arrange and organize the documents as per the bank’s requirements.
  • Submit the Application Form and Documents: Once you have filled out the application form and gathered all the necessary documents, visit the affiliated bank from where you obtained the form. Submit the completed application form along with the required documents to the bank’s housing loan department. The bank officials will verify your information and review the documents for further processing.
  • Wait for Application Processing: After submitting the application, the bank will initiate the loan application processing. This involves verification of the provided information, assessment of your eligibility, and evaluation of the property you intend to purchase. The bank may also conduct credit checks to evaluate your repayment capacity.
  • Receive Loan Approval Decision: Once the application has been thoroughly reviewed, the bank will communicate the loan approval decision to you. If approved, the bank will provide you with the loan offer letter, specifying the loan amount, interest rate, repayment terms, and any other relevant details. Review the offer letter carefully and seek clarification if needed.
  • Accept the Loan Offer: If you are satisfied with the loan offer and its terms, you can proceed to accept the offer. This typically involves signing the loan agreement and other necessary documents as per the bank’s requirements. Make sure to read and understand the terms and conditions before signing the agreement.
  • Loan Disbursement and Property Purchase: After accepting the loan offer, the bank will proceed with the disbursement of the loan amount. The funds will be transferred to the seller or developer of the property. Coordinate with the bank and the concerned parties to complete the necessary documentation and legal formalities for the property purchase.

Roshan Apna Ghar Scheme For Overseas

Roshan-Apna-Ghar-Scheme-For-Overseas
Roshan-Apna-Ghar-Scheme-For-Overseas

Roshan Apna Ghar Scheme Eligibility Criteria

Roshan-Apna-Ghar-Scheme-Eligibility-Criteria
Roshan-Apna-Ghar-Scheme-Eligibility-Criteria

Loan For Overseas Pakistani: The eligibility criteria for the Roshan Apna Ghar Scheme include:

  • Non-Resident Pakistani Nationals (NRPs) Possessing CNIC/SNIC/NICOP: The scheme is specifically designed for non-resident Pakistani nationals who possess a valid Computerized National Identity Card (CNIC), Smart National Identity Card (SNIC), or National Identity Card for Overseas Pakistanis (NICOP). This criterion ensures that the scheme is accessible to Pakistani citizens living abroad.
  • Employees or Officials Posted Abroad: The scheme is open to individuals who are employed or serving as officials abroad. This includes individuals working in various professional capacities in foreign countries. The scheme aims to facilitate housing ownership for Pakistani nationals working and living outside the country.
  • Minimum Age: The minimum age requirement for applicants is 20 years. This ensures that individuals applying for the scheme are legally eligible to enter into financial contracts and engage in property ownership.
  • Minimum Income: Applicants must have a minimum monthly income of PKR 75,000 to be eligible for the scheme. This income requirement ensures that applicants have a stable financial standing to afford the loan repayments and fulfill their financial obligations.
  • Co-Applicant Residence: The scheme requires that the co-applicant, who is a direct family member of the applicant, must reside in one of the specified cities, namely Karachi, Lahore, Islamabad, or Rawalpindi. This criterion ensures that there is a local presence for necessary coordination and documentation purposes.
  • Co-Applicant Direct Family: The co-applicant for the loan must be a direct family member of the primary applicant. This includes parents, spouses, or children. Having a co-applicant from the immediate family strengthens the loan application and provides additional financial support.
  • Non-Resident Pakistanis Residence: The scheme is available for non-resident Pakistanis residing in specific countries, including the United Arab Emirates (UAE), Bahrain, Singapore, and Malaysia. These countries are included to extend the benefits of the scheme to Pakistani nationals residing in popular work destinations.
  • Maximum Age: The maximum age limit for salaried individuals is 60 years, while for self-employed individuals, it is 65 years. This ensures that the loan repayment period aligns with the borrower’s remaining working years and provides a reasonable time frame to repay the loan.

Documents Required Roshan Apna Ghar Scheme Registration

Documents-Required-Roshan-Apna-Ghar-Scheme-Registration
Documents-Required-Roshan-Apna-Ghar-Scheme-Registration

Loan For Overseas Pakistani: The documents required for registration under the Roshan Apna Ghar Scheme include:

  • Copy of Valid CNIC: Applicants need to provide a copy of their valid Computerized National Identity Card (CNIC) as proof of their identity and citizenship. This document serves to verify the applicant’s nationality and eligibility for the scheme.
  • Salary Slip/Bank Statement: Applicants must submit their salary slips or bank statements as proof of income. These documents help assess the applicant’s financial stability and repayment capacity, which is essential for loan approval and determining the loan amount.
  • Employment Letter: An employment letter from the applicant’s current employer is required. This letter serves as evidence of the applicant’s employment status and income stability. It helps the lender evaluate the applicant’s ability to repay the loan based on their employment stability.
  • Valid Passport: Applicants need to provide a copy of their valid passport. This document serves as proof of their identity and supports the verification process for non-resident Pakistani nationals.
  • Proof of NRP Status (Visa Entry/Exit Stamp Page): Non-resident Pakistani nationals need to provide proof of their NRP (Non-Resident Pakistani) status, which can be demonstrated through the visa entry/exit stamp page on their passport. This document helps verify their non-resident status and eligibility for the scheme.
  • Proof of Profession and Source of Income/Funds: Applicants are required to submit documents that establish their profession and source of income or funds. This may include employment contracts, business documents, tax returns, or investment records. These documents validate the applicant’s profession and the legitimacy of their income or funds.
  • Scanned Signature: Applicants may need to provide a scanned copy of their signature. This is usually required to authenticate the loan documents and ensure their validity.

Roshan Apna Ghar Scheme Apply Online

Roshan-Apna-Ghar-Scheme-Apply-Online
Roshan-Apna-Ghar-Scheme-Apply-Online

Loan For Overseas Pakistani: To apply for the Roshan Apna Ghar Scheme online, follow the step-by-step guide below using the example of Standard Chartered Bank:

  • Visit the Website: Open a web browser and visit the website of the affiliated bank offering the Roshan Apna Ghar Scheme. For this example, go to Standard Chartered Bank’s website.
  • Access the Roshan Apna Ghar Scheme Section: Navigate to the Roshan Apna Ghar Scheme section on the bank’s website. Look for a dedicated page or section that provides information and details about the scheme.
  • Find the Online Application Form: Look for an option to apply online for the Roshan Apna Ghar Scheme. On Standard Chartered Bank’s website, you can find the online application form by visiting the following URL: https://www.sc.com/pk/save/roshan-apna-ghar/apply/
  • Fill out the Online Application Form: Click on the provided link to access the online application form. Fill out the form with accurate and complete information. The form may require personal details, employment information, income details, and other relevant information. Provide all the necessary information as per the instructions.
  • Attach Required Documents: The online application form may have a section to upload the required documents. Make sure you have scanned copies of the necessary documents, such as your CNIC, salary slips, employment letter, passport, proof of NRP status, proof of profession and source of income/funds, and any other documents specified. Attach these documents as per the provided instructions.
  • Review and Submit: Before submitting the online application, review all the entered information and attached documents to ensure accuracy and completeness. Check for any errors or missing details. Once you are satisfied, submit the application form.
  • Confirmation and Follow-up: After submitting the online application, you should receive a confirmation message or notification acknowledging the receipt of your application. The bank may provide further instructions or request additional documents if needed. Stay attentive to any follow-up communication from the bank and respond promptly.

Loan For Overseas Pakistani FAQs

Can Overseas Pakistanis Get Home Loans?

Overseas Pakistanis can get a home loan through the government schemes like Naya Pakistan Housing Scheme and Roshan Apna Ghar Schemes while living abroad.

Top 3 Best Banks for Overseas Pakistani?

Following are the best banks for overseas Pakistani to the best of our knowledge
Standard Chartered
Allied Bank
Faisal Bank

Can Overseas Pakistanis open a bank account in Pakistan while living abroad?

Many a bank allows overseas Pakistanis to open bank accounts while living abroad e.g. MCB Motherland Account. Overseas Pakistanis can access this account from any place and can make financial transactions easily.

Who is eligible for loans under the Roshan Apna Ghar Scheme?

Loan For Overseas Pakistani: Non-Resident Pakistani Nationals (NRPs) possessing CNIC/SNIC/NICOP.
Employees or officials posted abroad.

Non-Resident Pakistanis residing in UAE, Bahrain, Singapore, and Malaysia.
Co-applicants from Karachi, Lahore, Islamabad, or Rawalpindi.

The scheme is open to Non-Resident Pakistani Nationals with a minimum age of 20 years and a minimum income of PKR 75,000.

Who is eligible for a loan for overseas Pakistanis?

Eligibility criteria for Loan For Overseas Pakistani may vary depending on the specific loan program and lending institution.

However, generally, overseas Pakistanis who hold valid CNIC/SNIC/NICOP, have a stable source of income, and meet the minimum income requirements are eligible for these loans.

Other factors such as credit history, employment status, and loan purpose may also be considered.

What documents are required to apply for a loan for overseas Pakistanis?

The required documents to get Loan For Overseas Pakistani may vary depending on the lender and loan program.

However, commonly requested documents include a copy of valid CNIC/SNIC/NICOP, proof of income (such as salary slips or bank statements), employment letter, valid passport, proof of NRP status (visa entry/exit stamp page), proof of profession and source of income/funds, and any other documents specified by the lender.

Can an overseas Pakistani apply for a loan without visiting Pakistan?

Yes, it is possible to apply a Loan For Overseas Pakistani without visiting Pakistan, as many lenders provide online application facilities for overseas Pakistanis.

The online application process allows you to submit the required documents and complete the necessary procedures remotely.

However, you may still need to coordinate with the lender and provide any additional documentation or information as requested.

What is the maximum age limit for getting Loan For Overseas Pakistani applicants?

The maximum age limit for getting Loan For Overseas Pakistani is 60 years for salaried individuals and 65 years for self-employed individuals.

This age limit ensures that the loan repayment period aligns with the borrower’s remaining working years.

Can Non-Resident Pakistanis residing in countries other than UAE, Bahrain, Singapore, and Malaysia apply for the scheme?

Loan For Overseas Pakistani: Scheme is open to Non-Resident Pakistanis residing in UAE, Bahrain, Singapore, and Malaysia. It is advisable to check with the specific bank offering the loan for any updates or changes to the eligible countries.

What are the financing options available under the Roshan Apna Ghar Scheme?

The scheme typically offers a variety of financing options, including fixed and floating rates, tailored to the preferences of Overseas Pakistanis.

What are the benefits of the PM Loan Scheme for Overseas Pakistani applicants?

Benefits include lower interest rates, longer repayment tenors, and support for investments in Pakistan.

Can Overseas Pakistanis apply for loans from Meezan Bank?

Yes, Meezan Bank offers loans specifically designed for Overseas Pakistanis to support various financial needs.

If you like this article, please comment and share this article with others on Facebook, WhatsApp, or any other platform.

If you have any questions contact us (email) at Contact@personalloan.pk | Personalloan.pk@gmail.com or leave us a comment, we would love to answer all of your queries. Thanks for reading!

Add a Comment

Your email address will not be published. Required fields are marked *