Apna Ghar Program: PM Shehbaz launches housing loans up to PKR 10 million at 5% markup
Subsidized housing plan features 20-year repayment period
Business Desk
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Prime Minister Shehbaz Sharif has launched the Apna Ghar Program on Wednesday, offering subsidized housing loans of up to PKR 10 million to Pakistani citizens, according to Finance Ministry documents. The scheme provides a fixed markup rate of 5% for the first 10 years, with a 20-year maximum repayment period, aiming to expand access to homeownership for first-time buyers.
How does the Apna Ghar Program work and who can apply?
The Apna Ghar Program offers loans in four tiers: PKR 2.5 million, PKR 5 million, PKR 7.5 million, and PKR 10 million.
Applicants must hold a valid national identity card and must not be in default on any existing loans.
The government covers 90% of the property value, with the applicant contributing the remaining 10%.
What are the monthly installments under the Apna Ghar loan scheme?
Monthly repayments vary by loan size. Borrowers taking PKR 2.5 million will pay approximately PKR 16,499 per month, while those borrowing PKR 5 million will pay around PKR 32,997.
A PKR 7.5 million loan carries monthly installments of approximately PKR 49,497, and the maximum PKR 10 million loan requires around PKR 65,996 per month.
The 5% fixed markup applies for the first 10 years of the loan. After that, a standard market rate applies for the remainder of the term. There is no application fee or upfront payment required to access the financing.
What property types are eligible under the Apna Ghar Program?
The loan can be used to purchase a residential plot or a constructed house of up to 10 marlas.
Financing is also available for flats of up to 1,500 square feet.
The scheme does not cover properties larger than these thresholds.
Which banks are offering the Apna Ghar housing loan?
Loans are available through Islamic and conventional commercial banks, microfinance banks, and the House Building Finance Company.
Oversight of the program is shared between the State Bank of Pakistan and the Pakistan Housing Authority Foundation.
Applications must be submitted online, and the Finance Ministry says approvals are expected to take up to one month from the date of submission.
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