Bank AL-Habib: Personal Loan

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.

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