Best Interest-Free Loan For Overseas Pakistani | Top 3 Platforms To Access Fast Loan In Pakistan Online Apply

Many Overseas Pakistani are actively seeking opportunities worldwide to expand their businesses and properties and have a dream of owning a house.

Some may require financial assistance to support their families residing in Pakistan, particularly for healthcare, education, and general living expenses.

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Several organizations and platforms have designed interest-free loan for Overseas Pakistani who are residing abroad but have financial needs and interests in Pakistan.

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In this article, we will uncover the organizations and banks that offer Personal Loans and Business Loans For Overseas Pakistanis to facilitate their financial requirements and ventures in Pakistan.

Top 3 Platforms that Offer Interest-Free Loan for Overseas Pakistani

• PM Loan Scheme For Overseas Pakistani.
• Meezan Bank Loan For Overseas Pakistani.
• Roshan Apna Ghar Scheme For Overseas.

Also read: How To Quickly Get 50,000 Loan In Pakistan {20K-200K} (Interest-Free)

Personal Loan For Overseas Pakistani | Interest-free Online Loan For Overseas Pakistani

• These top three organizations offer completely interest-free loans, making it accessible for individuals to start their business ventures or buy/renovate homes in Pakistan.

• These interest-free loans provide essential financial assistance for personal needs.

• The online application procedure is simple and quick, with the ease of streamlined application process.

Prime Minister Interest-free Loan Scheme For Overseas Pakistani

• The Prime Minister’s Loan Scheme is a program in which various banks participate to provide financial assistance, extending a helping hand through the Prime Minister’s Loan Scheme. Among these banks, Standard Chartered stands out as a leading participant.

• These loans are also available for Overseas Pakistanis who wish to establish their dream houses.

• By accessing these loans, Overseas Pakistanis can fulfill their aspirations of homeownership, contributing to the development and growth of their home country.

Also read: 7 Best Instant Loan Apps In Pakistan 2023 with Low Interest Rates

Advantages of PM Housing Loan For Overseas Pakistani:

• Individuals can access these loans without paying processing fees.

• For the first five years, individuals can benefit from an introductory rental rate of 5%, providing a discount.

• Moreover, individuals can also get up to 10 million rupees for other housing requirements.

• PM Housing Loan Scheme Eligibility Criteria

• Individuals must possess are valid CNIC card.

• Individuals should be first-time homebuyers to qualify for the PM Housing Loan Scheme.

• Individuals can avail of the subsidized house finance opportunity offered by the PM Loan Scheme just once.

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Government PM Housing Loan Scheme Key Features

Three Product Offerings

• Level 1: Coverage includes NAPHDA (National Affordable Housing Program and Development Authority).
• Level 2: A wide range of applicants is covered.
• Level 3: Coverage extends to Non-NAPHDA (Non-National Affordable Housing Program and Development Authority).

Upper Limit for Housing Units

• Level 1: Maximum price range for housing units up to PKR 3.5 million
• Level 2: Covers a wide range, and no specific price point is mentioned.

Loan Duration

• Offers a flexible repayment term ranging from 5 to 20 years.

Maximum Loan Amount:

• Level 1: Eligible for a maximum loan amount of up to 6.0 million rupees.
• Level 2 & 3: Eligible for a maximum loan amount of up to 10.0 million rupees.

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PM Housing Loan Scheme Documents Required

• Authentic CNIC card with Pakistani nationality

• Submission of monthly salary slips and bank statements is required

• Individuals must be actively engaged in employment.

• Application forms are available in English/Urdu. ‘Blue’ for Formal Business Owners, ‘Pink’ for Informal Sources of Income, and ‘Green’ for Salaried Individuals).

Meezan Bank Loan For Overseas Pakistani Without Interest

Meezan Bank has started an interest-free loan program for both Overseas Pakistanis and residents of Pakistan, aiming to provide financial assistance to meet their diverse needs and foster economic stability within the community.

In realizing the dream of owning a house or business, Meezan Bank has introduced the “Meezan Bank Housing Loan For Overseas Pakistani“ scheme. These loans are entirely interest-free, offering flexible repayment options.

A remarkable loan program, the ‘Meezan Bank Easy Home Scheme,’ presents an outstanding opportunity for individuals, particularly Overseas Pakistanis, to easily own homes, meet housing requirements, and invest in business.

To get the interest-free loan fill out the application form by Meezan Bank

Meezan Bank Loan for Overseas Pakistani Key Feature

• Digital Investment Convenience with a hassle-free process.

• Ease currency conversion between EUR, GBP & USD to PKR.

• The facility of various financing options and five-year fixed rates.

• Affordable processing charges of just 4,000 rupees.

• Life Takaful option for protection against death and accidental disability

• Property Takaful coverage for the financing amount at NEC (No Extra Cost)

• Qualification for financing under the State Bank of Pakistan Housing Loan Scheme with ‘Mera Pakistan Mera Ghar‘

Meezan Bank Loan For Overseas Pakistani Eligibility Criteria

• Applicants must possess Pakistani nationality as a requirement

• The primary applicant’s age range is 25 to 65 years

• The co-applicants age range is 21 to 70 years

• Both single and co-applicants are welcome to apply, with the condition that the co-applicant must be a close family member.

• For salaried individuals, the minimum monthly income should be Rs. 40,000.

• For self-employed individuals, the minimum monthly income should be Rs. 75,000.

• Salaried individuals should have a secured job with a track record of at least 2 years of consistent work in the same line of work.

• Self-employed individuals should have a minimum of 3 years of work in the relevant business.

Meezan Bank Loan For Overseas Pakistani Documents Required

• Download the application form from Meezan Bank’s official website

• The applicant must provide a copy of CNIC/ POC/ NICOP issued by NADRA.

• The co-applicant must provide a copy of the CNIC issued by NADRA.

• Both the applicant and co-applicant must submit 2 recent passport-size photographs.

• A certificate of employment, including designation, salary, and job, is required (certification from the relevant Pakistani Embassy in the country of employment).

• The applicant’s contract of employment.

• Salary slips are required for the last 3 months.

• Copies of additional documents if applicable, including Passport, Work Permit, Practice License, Visa, Residence (Iqama), Professional Association Membership Certificate, Educational qualification degree/certificates, Utility Bills (Electricity/Gas/Telephone) of the co-applicant residing in Pakistan, Rental Documents, recent Credit Card Bills, Tax documents for the last two years, financing facility in Pakistan, and bank statements for the last one year.

• Proof of previous employment.

• Applicants must open a joint account with the co-applicant at Meezan Bank, and the first three months’ installments will be secured as a lien in the account for the entire loan tenure.

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How To Apply For Meezan Bank Home Loan Scheme

• Visit Meezan Bank’s official website to get the application form.

• Fill out the application form with the necessary information as instructed.

• Dispatch a cheque to cover the necessary processing fees and other associated costs.

• Attach all the required documents mentioned in the instructions to the application and submit them.

• Meezan Bank will verify your mentioned residential address and other business places.

• Meezan Bank will conduct an assessment for the applicants, including self-employed and salaried individuals, and businessmen, and an income estimator by Meezan Bank will estimate your income and provide a report to the bank.

• Meezan Bank will verify your documents and properties to ensure compliance with requirements and authenticity.

• After completing the above procedure, wait for approval. Meezan Bank will review and verify the provided information.

• Once approved, Meezan Bank will notify you with a letter.

• After approval, applicants can visit Meezan Bank to sign the agreement for Islamic House Finance and other necessary documents.

• A Meezan Bank officer and a lawyer will join you and the property seller at the relevant bank for property transfer. The lawyer will verify documents, facilitate pay-order transfer, and manage legal work on behalf of Meezan Bank.

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Roshan Apna Ghar Loan For Overseas Pakistani

Roshan Apna Ghar Loan is a program initiated by Standard Chartered Bank aimed at providing interest-free loans for overseas Pakistani to buy their own homes and meet other housing requirements.

The program is designed to ensure an effortless and streamlined experience for applicants in obtaining financial assistance.

Roshan Apna Ghar Scheme Featured

• No processing charges are required.

• Eligibility allows you to obtain financing up to a maximum of 50% of the property’s value.

• For non-residents, a home financing scheme is available with PKR RDA accounts.

• Adhering to Islamic principles, these loans are completely interest-free.

• Choose between flexible financing options, either lien-backed or non-lien-backed, depending on what suits you best.

• To make your homeownership more affordable, you can seize the opportunity to purchase a new house at a competitive price.

• You have the option to acquire a home improvement loan to renovate your existing house or to make it better or bigger.

• The outstanding loan duration feature of this scheme allows you up to 25 years to repay the borrowed amount for your home.

Roshan Apna Ghar Scheme Eligibility Criteria

• Applicants must be at least 20 years old.

• The monthly salary of applicants should be at least 75,000 rupees.

• The Co-applicant is required to reside in Tier 1 cities: Karachi, Islamabad, Lahore, and Rawalpindi.

• The Co-applicant must be a close family member (Spouse, Parent, Child, or Sibling).

• Employees of the Federal or Provincial Government based overseas are eligible.

• Non-resident Pakistani Nationals (NRPs) must provide authentic CNIC/NICOP/SNIC and other required documentation.

Roshan Apna Ghar Scheme For Overseas Pakistani Documents Required

• Applicants are advised to submit authentic digital copies of CNIC, POC, NICOP, and SNIC.

• Applicants must need to submit the original digital copy of the first 2 pages of their Passport.

• Applicants must provide the salary slips of the last 3 months, tax returns, utility bills, job status, and other relevant certifications and required documents.

• Overseas Pakistanis need to demonstrate proof of Non-Resident Pakistani (NRP) status. This includes a valid passport containing the necessary visa documentation, entry/exit stamps, and other specified requirements.

• Applicants are required to provide a scanned image of their signature for identification purposes.