Bank AL-Habib is one of Pakistan’s largest banks. Bank AL-Habib has a vast network of over 1000+ branches in over 400+ cities across Pakistan and six branches worldwide.
Bank AL-Habib maintain exceptional relations with various banks around the world. Apart from personal loans, Bank AL-Habib offers housing finance, renewable energy solutions, low-cost housing for a specific segment, and so on.
Why Bank AL-Habib Is an Ideal Choice for Personal Loan?
Personal loans are loans from a bank to fulfil your personal needs. Financial needs do not always come when you are expecting them. In such a situation, you require money; you can achieve this by applying for personal loans from Bank AL-Habib. Bank AL-Habib is the perfect choice as:
- Quick and hassle-free process, so you may not have to wait long.
- No processing fees
- Convenient balance transfer facility
- Free online banking; you can log in with your personal email, and you’re good to go.
- Providing third-party security for deposits or national saving certificates.
- Free e-statement
- Documentation charges at the Actual
Who can Avail of or Apply for a Personal Loan Facility?
- You must be a citizen of Pakistan.
- You must be a salaried, business or self-employed individual.
- You must be able to show a satisfactory credit history.
- You can apply for a personal loan for as little as PKR 50,000.
What Documents Do You Need to Apply for a Personal Loan?
In order to register for a personal loan from Bank Al-Habib, you need the following documents:
- A bank’s prescribed application form,
- A photocopy of your CNIC/ SNIC.
- Your fresh salary slips.
- Salary certificate – in case you are a salaried person.
- Provide a Bank Statement for the last six months – if you are a business person or any other document to prove your income.
- Liability Declaration (CF-1)
How Do the Securities and Pricing Methods Work?
If financing is up to PKR 5.0 Million Against bank deposits
- Running finance would be 2.00% over the deposit rate.
- Term finance would be a 1.50% over the deposit rate.
If finances are up to PKR 5.0 Million against permissible government securities and foreign currency deposits.
- Running finance would be 2.00% over 3 months KIBOR (Karachi Interbank Offer Rates).
- Term Finance would be 1.50% over 1-year KIBOR (Karachi Interbank Offer Rates).
For finances of over PKR 5.0 Million
- Running finance would be 1.50% over 3 months KIBOR
- Term finance would be 1.25% over 1 Year KIBOR
Frequently Asked Questions
Q. How Much Financing is Offered Under Cash Finance?
The minimum financing amount is PKR 50,000, and the maximum is 90% against PKR deposits or securities encashment value. Moreover, 85% on Foreign Currency Deposits.
Q. What Security is Required to Avail of Cash Finance Services?
Bank AL-Habib accepts the following forms of security:
- Defence Saving Certificates
- Bank Al- Habib Deposit
- Special Savings Certificates
- Regular Income Certificate
- Market Treasury Bills
- Pakistan Investment Bonds
- And Premium Prize Bonds
Q. How Much is Charged for This Facility?
Bank AL-Habib doesn’t charge for cash finance services; however, documentation charges may apply.
