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Processing Procedures for LAPTOP on installments (Meezan Bank Ltd)

October 24, 2013
Salaried
  • Application Form
  • Copy Applicant's CNIC
  • 2 Passport-sized colored photographs of applicant
  • Original / Certified copy of Bank Statement (last 06 months)
  • Original / Certified copy of Pay Slip
  • Employer's certificate including Tenor /Designation /Salary
  • Signature Verification Form
  • Declaration of Financing

Businessmen / SEP
  • Application Form
  • Copy Applicant's CNIC
  • 2 Passport-sized colored photographs of applicant
  • Original / Certified copy of Bank Statement (last 12 months)
  • 2 years Proof of Business (e.g. Tax return / Bank Certificate/  NTN  Certificate / any other document)
  • Signature Verification Form
  • Declaration of Financing

Processing Fees
PKR 1,000
Down Payment
Minimum as per the given Installment Plan
Repayment ModePost Dated Cheques
Pre-payment PenaltyNo prepayment penalty. Selling price once set will not be allowed to change.
Security
Post Dated Cheques to be acquired from all applicants for the tenure of financing.
Processing Procedures for LAPTOP on installments (Meezan Bank Ltd) Processing Procedures for LAPTOP on installments (Meezan Bank Ltd) Reviewed by BARI.0492 on October 24, 2013 Rating: 5

Meezan Laptop Ease Monthly installment as low as Rs2,802/- HP Books

October 24, 2013
HP Pavilion G6-2225TU
Notebook		HP Envy M6-1201TU NotebookHP Envy M6-1203TU Notebook 
  
Intel® CoreTM i3-3110M 

Minimum Payment: Rs. 2,802
Intel® 3rd Gen CoreTM i5-3230M 


Minimum Payment: Rs. 4,086
Intel® 3rd Gen CoreTM i7 3632QM


Minimum Payment:Rs.4,912




HP Pavilion 15-J037 TXHP ProBook 4540
Notebook		HP ProBook 4540s Notebook + GC
 
Intel® 4th Gen CoreTM i7 4700MQ


Minimum Payment: Rs. 6,014
Intel® 3rd Gen CoreTM i5-3230M


Minimum Payment: Rs. 3,980
Intel® 3rd Gen CoreTM i5 3230M 


Minimum Payment: Rs. 3,980
Meezan Laptop Ease Monthly installment as low as Rs2,802/- HP Books Meezan Laptop Ease Monthly installment as low as Rs2,802/- HP Books Reviewed by BARI.0492 on October 24, 2013 Rating: 5

Mobile Phones on Competitive Rates - On Loan and Installments in Pakistan

September 03, 2013

Banking Alliances

United Mobile has formed several alliances with different organizations as a part of their Value Added Services for the people.

Bank Alliances offers 2 schemes which are as follows:

1.  Installment Scheme 
Banks which offer Easy Installment Plan in association with United Mobile are as follows:

•    Habib Bank Limited
•    Muslim Commercial Bank
•    Faysal Bank Limited

2.    Discount Voucher Scheme

Banks which offer Discount Voucher Scheme in association with United Mobile are as follows:

•    City Bank
•    Standard Chartered Bank
•    Askari Bank
•    Royal Bank of Scotland


How Installment Scheme Works

If you are a Credit Card Holder of Habib Bank Limited, Muslim Commercial Bank or Faysal Bank Limited you can place an order of a NOKIA mobile phone to your respective Bank with different monthly payment options and United Mobile will deliver the phone at your place without any delivery charges. Please check your respective bank for the payment terms.


How Discount Voucher Scheme Works
Another scheme is Discount Voucher Scheme, for that you should be a Credit Card Holder of City Bank, Standard Chartered or Askari Bank.

Voucher scheme is based on the usage of your credit card, after every purchase you made through a credit card certain points are given to you and when you reach certain criteria set by your bank you will be given Discount Voucher of worth Rs. 5,000 and Rs. 10,000 which can be used against the purchase of NOKIA phones from any United Mobile outlet.
Mobile Phones on Competitive Rates - On Loan and Installments in Pakistan Mobile Phones on Competitive Rates - On Loan and Installments in Pakistan Reviewed by BARI.0492 on September 03, 2013 Rating: 5

Sarparast – Family Takaful Plan

August 16, 2013
Partnering to safeguard your future
Al Baraka Bank (Pakistan) Ltd. in association with Pak-Qatar Family Takaful Limited is offering an exclusive product “Sarparast – Family Takaful Plan”.  Sarparast is a Shari’ah Compliant savings and investments plan exclusively designed to cater to your Takaful needs.
FEATURES:
  • Saving for long-term needs in the future. 
  • Regular contributions invested in a diversified portfolio of Islamic funds ranging from Sukuk to Mutual Funds, based on the customer's risk appetite.
  • Flexible plans in terms of frequency of payment.
  • Takaful cover allows family to receive funds, in case of death of the participant.
Al Baraka’s Sarparast, safeguards your future, while giving you the financial freedom you deserve. It helps you plan necessary events of life from marriage to education, retirement to vacations or pure savings in accordance with the Islamic principles.
AS YOU ARE AL BARAKA’S ACCOUNT HOLDER WE OFFER THE FOLLOWING BENEFITS:
  • Better access to wider range of Shari’ah Compliant financial products/services through a one-stop shop experience; Takaful plan issued on the spot.
  • Processing on copy of CNIC only.
  • No medical examination required.
  • Minimum processing time.
  • 24/7 customer service available through Al Baraka  Phone Banking.
  • Maximum application acceptance.
ADDITIONAL BENEFITS
  • Contribution increase and decrease*
  • Switching of Investment Strategies*
  • Partial withdrawal*
  • Payment deferral*
*Conditions apply
Call now to protect your family and future.111-113-442
 
Sarparast – Family Takaful Plan Sarparast – Family Takaful Plan Reviewed by BARI.0492 on August 16, 2013 Rating: 5

Features of Axis Bank Home Loans

September 05, 2012

Axis Bank

Axis Bank offers affordable and flexible housing loans that can turn your dream of owning a home into reality.
If rising real estate prices have pushed the house you coveted beyond your budget, Axis Bank’s unmatched home loans will put it within reach. The attractive interest rates and minimal processing fees make our home finance products a first choice for savvy buyers. In addition, features such as flexible tenures, transparent processing and quick service have made our products stand out among the best home loans in India.

We have products to suit every budget, taste and need. Whether you are self-employed or salaried, want a floating or fixed rate, Axis Bank will offer a loan that is just right for you.

Apply Online for Home Loan

Features of Axis Bank Home Loans

Axis Bank housing loans are designed for today’s home-hunter. Our easy home loans are rich in features and offer a number of benefits.

  • Attractive housing finance rates: We offer attractive interest rates that make your housing loans affordable and easier on your pocket every month.
  • Flexible rates: Choose between fixed and floating rate options depending on which way you think interest rates are moving.
  • Balance transfer facility: Not satisfied with your existing Home Loan provider? You can transfer your Home Loan to us without any hassles.
  • Doorstep service: You don't have to go the bank for Home Loans; the bank will come to your doorstep. Perfect for those leading busy lives.
  • Nil prepayment charges* : Come into some money and want to pay off your housing loan early? You can do that at Axis Bank without worrying about prepayment charges.

    Valid only on floating interest rate Home Loans.

    Quick and transparent processing :
    Special Benefits available for Priority Banking customers. To know more, contact your Priority Banking Relationship Manager today!
OR DownloadsApply Online for Home Loan
Features of Axis Bank Home Loans Features of Axis Bank Home Loans Reviewed by BARI.0492 on September 05, 2012 Rating: 5

PERSONAL FINANCE BY ASKARI BANK, PAKISTAN

September 05, 2012

One can avail unlimited opportunities through Askari Bank’s Personal Finance. With unmatched financing features in terms of loan amount, payback period and most affordable monthly installments, Askari Bank’s Personal Finance makes sure that you get the most out of your loan. No matter what your need is, Askari Bank has more ways to serve you than ever before.

Features Details
Applicant/ Borrower: Pakistani Resident (SEB/SEP cases are not entertained currently).
Age: Salaried: 21-61 years (maturity of loan at 61 yrs.).
Salary/ Income: Rs. 30,000/-per month.
Employment Status: 1 Year.
Debt Burden: Maximum 50% of the net disposable income.
Credit Limit: Upto Max of Rs. 500,000/- (Subject to max of 50% DBR & Industry benchmark is maximum Rs. 1.0 M).
Tenure: 1 - 5 years.
Mark up : Secured  Salaried: 19% p.a.
Mark up : Unsecured Salaried: 21% p.a & Contract Employees 24.2% p.a.
Reference: Two (2) references with complete details (one should be relative).
Processing / Others Charges: As per "Schedule of Bank Charges".

Documentation
1. Application Form duly filled & Signed by the applicant in his/her own handwriting.
2. Clear copy of valid CNIC.
3. Two passport size latest photographs.
4. Last two month original salary slip or attested photocopy required.
5. Last 6 month bank statement of salary account.
6. Copy of the latest paid utility bill received at the residential address in case of salaried individual.
7. Copy of the latest bill received at the business address & residential address, in case of SEB/SEP.
8. BBFS, DDA, Undertaking CF-1, undertaking regarding other credit facilities.
CONTACT US: Toll Free Number 0800 00078

PERSONAL FINANCE BY ASKARI BANK, PAKISTAN PERSONAL FINANCE BY ASKARI BANK, PAKISTAN Reviewed by BARI.0492 on September 05, 2012 Rating: 5

Faysal Bank - Home Finance

November 15, 2011
Faysal Bank of Pakistan
FaysalBank
 Head Office: Faysal House, ST-02, Shahrah-e-Faysal Karachi
 Contact Person: N/A Mobile: N/A
 UAN: 111 555 999 Phone: N/A
 Email Address: info@faysalbank.com Web URL: www.faysalbank.com

Live a happy and carefree life, away from financial worries,in a way that is straightforward, affordable and easy to attain.
 
Faysal Home Finance is available for
·       Buying a new home
·       Building a new home
·       Remodeling or Renovation of existing Home

For Buying a Home
   * Maximum financing amount available is 70% of the market value of property
    * Repayment period is between 3 years to 20 years
    * Spouse income clubbing facility available in computing debt service ratio
    * Repayment in monthly installments
 
For Building a Home
·       Maximum financing amount available is 70% of value of land plus construction
·       Repayment period is between 1 year to 20 years
·       Spouse income clubbing facility available in computing debt service ratio
·       Repayment in monthly installments
·       Disbursement of approved facility amount to be made in tranches corresponding with construction schedules

For Renovating or Remodeling a Home
·       Maximum financing amount available is 50% of the market value of property or Rs. 20 million, whichever is lower
·       Repayment period is between 3 years to 20 years
·       Spouse income clubbing facility available in computing debt service ratio
·       Repayment in monthly installments
·       Disbursement of approved facility amount to be made in tranches corresponding with construction schedules

Eligibility Criteria
·           Applicant to be between 21 years to 60 years of age
·           Resident of Pakistan or a non-resident Pakistani
·           With 2 years of employment of which at least 1 year at present place of employment or 3 years of established business
·           Qualifying income to debt ratio 60 : 40 (i.e. maximum installment not higher that 40% of your Net Disposable Income which includes all credit commitments including Faysal Housing Finance facility)
·           Applicant is a tax payer and holds a valid NTN

Documents Required
(application form available at any branch of Faysal Bank)
·       Copy of CNIC (please bring original CNIC for verification)
·       2 recent photographs (passport-sized)
·       Tax returns for past 3 years
·       NTN Certificate
·       Copy of last month’s Utility Bill (any one utility)
·       Professional degree (for self-employed professionals)
·       Proof of last drawn salary (for salaried applicants)
·       Salary certificate from the employer (for salaried applicants)
·       Bank Statement for past 12 months (for past 24 months for self employed professionals and businesspersons)
·       Audited Company Financials for the last 2 years (for businessmen & self-employed professionals)
·       Proprietorship letter (if proprietorship concern)
·       Partnership Deed / Registered partnership deed (if partnership concern


Faysal Bank - Home Finance Faysal Bank - Home Finance Reviewed by BARI.0492 on November 15, 2011 Rating: 5

Dubai Islamic Bank - Home Financing

November 15, 2011

Dubai Islamic Bank
Dubai Islamic Bank
 Head Office: Ayesha Heights, Plot No. 54, Main Peco Road, Township, Lahore
 Contact Person: Irfan Soofi Mobile: N/A
 UAN: 111-786-DIB(342) Phone: 04235145760
 Email Address: irfans@dibpak.com Web URL: N/A

What DIBPL Offers

Dubai Islamic Home Finance is the key to your dream home and we are eager to put this key in your hands. Using the Musharaka cum Ijara model, the Bank enters into a partnership with you and helps you in fulfilling your dream of owning a home quickly, conveniently and in a fully Shariah compliant manner. Whether you want to buy, renovate or simply wish to switch from your present home finance with any other bank, DIBPL’s would be the best Shariah compliant alternative.

Currently Dubai Islamic Home Finance is offering three product variants:
·       Home Purchase.
·       Purchase of undivided share (Home Renovation).
·       Purchase of undivided share of property from other bank (Balance Transfer)

How it works
·       Our Relationship Officer will visit and help you complete the Home Finance application form.
·       Once your application has been analyzed and approved you will receive an offer letter stating the terms of offer and the finance amount DIBPL is willing to provide.
·       On completion of these steps, the amount stated in the offer letter which is DIBPL’s contribution towards Musharaka will be deposited by DIBPL to Musharaka account.
·       You will be registered as the legal owner of the property at the local registrar’s office.
·       You will then be required to execute a lease agreement (Payment Agreement) to lease DIBPL’s undivided share of the property DIBPL for an agreed number of years against monthly rentals.To complete the transaction you would sign the remaining transaction documents.
·       After successful completion of Lease, DIBPL will sell its undivided share in the property to the customer for a nominal price. 

Features
There are so many reasons that make Dubai Islamic Home Finance the right choice!
•100% Shariah Compliant 
•Minimum Financing amount of Rs. 0.5 million. 
•Maximum Financing of up to Rs. 50 million. 
•Fastest processing time 
•Affordable monthly payment amount 
•Financing up to 80% of your property value 
•Finance Enhancement option as per the applicable terms. 
•Early & Partial settlement options as per the applicable terms
•Tenor Rescheduling option as per the applicable terms.

Pricing Mechanism / Profit Rate Criteria
Dubai Islamic Home Finance is a variable rate product i.e. the rental rate is linked with revisable Karachi Interbank Offered Rate (KIBOR) which shall be revised after every six or twelve months from the date of contract booking depending upon your chosen renewal option.
Applicable Profit Rate = Relevant KIBOR + Margin
The prominent features of the Pricing Mechanism of the Dubai Islamic Home Finance are further explained in detail as follows:

1. The variable rental is based on a benchmark KIBOR + a predefined margin.

2. The variable rental and the rental payment schedule, which will be offered to you at the time of contract booking, shall be valid for six or twelve months only depending upon your chosen renewal option.

3. The variable rental is (annually or semi-annually) renewable. It is renewed based on the prevailing KIBOR rates at the time of renewal. In other words the rental rate is linked with revisable KIBOR rate which shall be revised after every six or twelve months from the date of execution of the Payment Agreement.

4. The predefined Bank’s margin remains constant throughout the financing period. However the KIBOR may increase or decrease based on market rate movement which can change the rental amount. To further explain this point a hypothetical illustration is given below using 12 month KIBOR as benchmark for your understanding

Hypothetical and Approximate Rental calculations for illustrative purposes only






(Rs. in PKR)
Year #
Financing Amount
Financing Tenure
KIBOR
Bank's Margin
Profit Rate
Monthly Rental
1*
10,000,000
20 Years
13.00%
4.00%
17.00%
153,900
2**
10,000,000
20 Years
16.00%
4.00%
20.00%
175,630
3***
10,000,000
20 Years
11.00%
4.00%
15.00%
139,959







* The arbitrary 12 month KIBOR and rate of Bank's margin is taken as assumption

** In year 2, the KIBOR is increased by 3% from year 1 and Bank's margin remains constant
*** In year 3, the KIBOR is decreased by 5% from year 2 and Bank's margin remains constant

Installment Payment Frequency and Mode
DIBPL Home Finance customers can make their “monthly rental payments” through any of the following modes/channels as per their convenience.

Over the Counter:
DIBPL Home Finance customers can deposit their monthly payments/rentals “over the counter” at any DIBPL branch through cash or cheque in a dedicated account.

Direct Debit Instructions:
DIBPL Branch Banking customers can make their monthly rental payments by simply giving direct debit instructions from their account maintained at any DIBPL branch.

Internet Banking:
DIBPL Branch Banking customers can easily make their monthly rental payments by using Dubai Islamic Internet Banking facility to internally transfer the rental amount from their personal account to the dedicated account.
Customer Eligibility Criteria (Pakistani Residents)

Pakistani National.
Age 25-65.
Minimum monthly net income of Rs.15,000.
Self-employed Businessmen/Professionals or Salaried individuals.
Property Eligibility Criteria
The qualifying property must be located in Cities (Karachi, Lahore, Islamabad, Rawalpindi and Faisalabad) of Pakistan.
The minimum value of the property must be greater than Rs.800,000.
Customer Eligibility Criteria (Overseas Pakistani - UAE only)

Pakistani National residing in UAE.
Age 25-65.
Minimum monthly net income of AED.25,000/-.
Self-employed Businessmen/Professionals or Salaried individuals.
Property Eligibility Criteria
The qualifying property must be located in Cities (Karachi, Lahore, Islamabad, Rawalpindi and Faisalabad) of Pakistan.
The minimum value of the property must be greater than Rs.1, 250,000/-.

Documents
•Copy of primary applicant’s CNIC.
•Copy of Co-partner’s CNIC, if necessary. 
•2 Passport Size Photographs.
•Tax Returns.
•Copy of Utility Bill. 
•Professional Degree (for self employed professionals only). 
•Salary Certificate/Proof of Profession. 
•Latest Salary Slip. 
•Bank statement of the last 12 months & Bank Certificate.

 FAQ's

1. Who can apply for Home Finance facility?
 Salaried Individual
 Self Employed Professional (SEP)
 Self Employed Businessman (SEB)

2. In how many cities is Home Finance Facility available?
 Karachi
 Lahore
 Rawalpindi/Islamabad
 Faisalabad

3. What is the minimum and maximum financing limit available for Home Finance?
 Home Purchase    Rs 500K – 50 million
 Home Renovation    Rs 500K – 10 million
 Transfer of finance from another bank       Rs 500K – 50 million 

4. What is the product Structure/mode of finance?
It is based upon the following modes of Shari’a
 Shirkat ul Melk (Co-ownership) where the Bank and the Customer jointly own the Asset &
 Ijara (Lease) of the Bank’s share to the Customer.

5. Who can be Co-partner?
Only spouse and immediate blood relatives (Son, Father, brother and mother) except daughter & sister, can be co-partners.
6. Will my spouse's income also be considered in calculating the Finance Burden?
Yes, your spouse's income (Wife or Husband) can be clubbed for finance burden calculation.

7. Can a commercial property be financed or not?
As per State Bank’s Regulations for Consumer Financing, only residential property is allowed to be financed under Home Finance product.


Dubai Islamic Bank - Home Financing Dubai Islamic Bank - Home Financing Reviewed by BARI.0492 on November 15, 2011 Rating: 5
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