Government Markup Subsidy Scheme (GMSS)
Government Markup Subsidy Scheme upto PKR 2,000,000
NRSP Microfinance Bank offers individual Low-Cost Housing Loan under Government of Pakistan Mark-up Subsidy Scheme. It provides convenient and affordable financing scheme for the purchase, construction and extension/expansion of houses and apartments.
Product Features
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Eligibility Criteria
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- All Pakistani Citizens holding valid CNIC
- The subsidized scheme is for first time home owner
- The facility can be availed only once by and individual
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Purpose of Credit
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- Housing loans can be given for structural improvement (expansion / extension), new construction, or purchase
- Structural Improvements are incremental expansion or extension in the existing home, as long as the total area does not exceed the limits mentioned above
- New Construction includes construction of housing structure on plot, completion of a new structure etc.
- Purchase includes purchase of home or housing unit
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Features
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- Financing for construction and first purchase of newly
- constructed affordable housing
- Financing Limit up to 2Million (20 lac (
- Tenure: 5 to 20 Years (depending upon choice of customer)
- * Rate of Interest
- Fixed @ 5% per annum for 1st 5 Years.
- Fixed @ 7% per annum for next 5 Years.
- After 10 Years interest rate will be charged as per bank policy which will be charged from the customer.
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Loan Repayment
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Equal Monthly Instalments
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Insurance
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- Asset Insurance (bear by bank)
- Free Credit Life Insurance
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Details of Housing Area
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- House Upto 125 SY ( Upto 5 Marla House)
- Flat Appartment Upto covered area upto 1250 Sq.Ft
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