Mera Ghar Mera Ashiana Scheme
The Mera Ghar Mera Ashiana Scheme is a special housing loan program launched by the State Bank of Pakistan (SBP) in collaboration with the Government of Pakistan. This scheme is designed to help first-time home buyers across the country purchase or build their own homes at affordable loan rates with government subsidies.
If you dream of owning your first home, this scheme could be the opportunity you’ve been waiting for. Here’s everything you need to know.
What is the Purpose of the Scheme?
The main goal of the Mera Ghar Mera Ashiana Scheme is to promote affordable housing finance for low- and middle-income citizens of Pakistan. With rising property costs, many people find it difficult to buy or build their own homes. This scheme provides easy and low-cost loans to make home ownership possible for the average Pakistani.
Who is Eligible?
To apply for this scheme, you must meet the following eligibility conditions:
- Applicants must be citizens of Pakistan and possess a valid Computerized National Identity Card (CNIC)
- You must be a first-time home buyer.
- You should not own any house or flat in your name.
What Can You Use the Loan For?
Under this scheme, the loan can be used for:
- Purchasing a house or flat
- Constructing a house on an already owned plot
- Purchasing a plot and then constructing a house on it
This gives flexibility to buyers, whether they already own land or are starting from scratch.
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What is the Size Limit for the House or Flat?
The housing unit must fall within the following size limits:
- House: Up to 5 Marla
- Flat/Apartment: Up to 1360 square feet
This ensures the scheme focuses on affordable and practical housing solutions for families.
Loan Amount and Tiers
The scheme is divided into two tiers based on the loan size:
- Tier 1 (T1): Up to PKR 2.0 million
- Tier 2 (T2): Above PKR 2.0 million and up to PKR 3.5 million
This makes it suitable for people from different income levels.
Loan Tenure and Subsidy Period
- The maximum loan term is 20 years
- However, the government subsidy on the markup will be provided for the first 10 years
This means your installment remains affordable for the first decade, helping you settle into your new home.
Markup Rates – What Will You Pay?
The loan pricing is simple and clear:
- Banks will charge: 1-Year KIBOR + 3%
- You (the customer) will pay a fixed markup:
- Tier 1: 5%
- Tier 2: 8%
This is much lower than standard bank loan rates, making it a great financial opportunity.
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Quick Summary: Key Features at a Glance
| Feature | Details |
|---|---|
| Loan Amount | PKR 2.0 – 3.5 million |
| Loan Tenure | Up to 20 years |
| Subsidy Duration | First 10 years |
| Fixed Markup Rate (T1) | 5% |
| Fixed Markup Rate (T2) | 8% |
| Loan to Value Ratio | 90:10 |
| Processing Fees | None |
| Prepayment Penalty | None |
| Eligibility | First-time home buyers only |
| Property Size Limit | 5 Marla house / 1360 sq. ft. flat |
Loan to Value Ratio (LTV)
The LTV ratio under this scheme is:
- 90:10, meaning the bank provides 90% of the property value as a loan, while you contribute only 10% equity
This reduces the upfront cost for you and helps you own a home with minimal savings.
Where Can You Apply for the Loan?
All major financial institutions are participating in this scheme:
- Commercial Banks
- Islamic Banks
- Microfinance Banks (MFBs)
- House Building Finance Corporation (HBFC)
You can visit any of these banks to inquire and apply for the loan.
Additional Benefits for Customers
- No processing fees – Apply without extra bank charges
- No prepayment penalties – Pay off early without any hidden charges
- Government risk coverage – The government covers 10% of the outstanding portfolio on a first-loss basis
These features make it a safe and affordable choice for first-time buyers.
What Are Banks Required to Do?
Participating banks have been instructed by the State Bank to:
- Properly promote and advertise the scheme
- Prepare their systems to process applications smoothly
- Prevent misuse and ensure transparency
This ensures customers get the support they need during the loan process.
Markup and Risk Subsidy Mechanism
While the detailed process for markup and credit loss subsidy payments will be announced later, the government has already committed to providing these supports for the first 10 years of the loan.
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Final Words: Why You Should Apply
The Mera Ghar Mera Ashiana Scheme is a game-changer for anyone who wants to own a home but struggles with high costs. With low markup rates, long repayment periods, no hidden charges, and wide accessibility, this scheme is one of the most beneficial housing finance programs in Pakistan’s history.
If you meet the criteria and are ready to build or buy your dream home, visit your nearest bank today and ask about the Mera Ghar Mera Ashiana Scheme.