Al-Mustaqeem House Financing - Dawood Islamis Bank Limited

Dawood Islamic Bank Limited

Head Office: Trade Centre, I.I. Chundrigar Road, Karachi-74000, Pakistan  Contact Person: N/A Mobile: N/A  UAN: 0800-00343 Phone: +92 21 3263 7174-75  Email Address: N/A Web URL: N/A

Al-Mustaqeem House Financing

The Bank of Khyber is pleased to launch a Consumer Finance Scheme for general Public with immediate effect. Under this scheme House hold product like electronics, audio-visual equipment home appliance shall be financed to the customers on easy installments.

1. Salient Features Eligibility for the scheme shall be as under:
2. Citizen of Pakistan aged between 25 to 60.
3. Scheme will be opened to all permanent employees of Govt. & Semi Govt. Local Govt., NGO, Autonomous Bodies, University, Banks, Reputed Industries , Corporations and self employed professionals or business man.
4. Applicant should be resident of the city where Bok's Authorized Branch is operating.
5. The monthly installments should be maximum of 1/3 of take home salary of the applicant.
   (Take home salary is to be determined by the branch manager).
6. The Borrower will provide a personal guarantee of a third person as a security.

Guarantor can be a person 

Aged between 25 to 55 years.

• Preferably residing in a same area as of applicant.
• Applicant must not be immediate family member of the borrower.
• BoK's Account holder will be preferred.
• Shall not be a Bok's Employee.
• Two Borrowers can not provide guarantee to each other.

Tenure
The tenure of the scheme shall be for 36 months, 24 months, 18 months and 12 months.
Amount of Loan
Amount of loan shall be from Rs.5000/- to Rs.99,000/-.
Advance Payment
A sum of 5% shall be received from the customer as advance payment.
Processing Fee
No Processing fee will be charged.
Mark up Rate
Mark up rate is 14%. per annum.
Charge Documents to be obtained by the Branch

• Agreement for financing.
• Letter for comfort / Guarantee from employer.
• Letter of personal Guarantee.
• Comprehensive insurance of assets (Premium to be borne by customer).
• D.P note for marked up price.

Documents to be submitted by customer along with applications

• Attested copy of N.I.C
• Copy of any recent Utility Bill.
• Bank statement for the last six months.

For Salaried Persons

Employment Certificate from HR/Personnel Deptt (stating Designation, Tenure of employment
Gross and net salary) or latest salary slip duly attested by HR.

For Self Employed Persons

Professional Association certificate for self employed professional like doctors, Lawyers, Charted Accountants , Engineers etc stating the number of years in profession.

Guarantor's Documents  Copy of N.I.C duly attested by branch manager.

• Bank statement for last six month.
• Copy of last paid utility bill.
• Detail of Business or Profession.
• Bank's Performa showing worth of Guarantor duly filled in (attached)

Customer shall have to open an account with branch (if not already open) and post dated cheques for all installments due will be obtained from him.