BOP Apna Ghar Scheme
Frequently Asked Questions (FAQs)
Q: What is BOP
Apna Ghar Financing?
A: BOP Apna Ghar financing is a House Financing facility for:
1. Purchase of constructed house
2. Purchase of plot and construction, thereon
3. Construction of house on self-owned plot
4. Renovation of house.
Q: Can I
apply for BOP Apna Ghar?
A: Yes, you can apply for BOP Apna Ghar if you fall in any of the following categories:
1. Salaried Individuals (SI)
2. Self Employed Professional (SEP)
3. Self Employed Businessman (SEB)
4. Non-Resident of Pakistanis (NRPs)
Q: What is the
tenure of housing finance facility under BOP Apna Ghar scheme?
A: Individuals applying for the finance facility should fulfill the following eligibility criteria:
|
Purpose of Loan |
Minimum Tenure |
Maximum Tenure |
Grace Period |
Purchase of constructed residential
house/ apartment |
3 Years |
25 Years |
No grace period allowed
|
| Purchase of plot & construction thereon |
Up to 12 months |
| Construction of house on self-owned plot |
|
Renovation of self-owned house
|
1 Year |
10 Years |
Based on nature of transaction (upto 12 months) |
Q: What is the
eligibility criteria for BOP Apna Ghar?
A: Individuals applying for the finance facility should fulfill the following eligibility criteria:
|
Eligible Items |
Salaried Individuals (SI) |
Self Employed Professionals/
Businessmen (SEP/SEB) |
Non Resident of Pakistan (NRPs) |
| Age: |
20-60 Years |
25-65 Years |
25-65 Years |
| Job Experience: |
Permanent/ contractual employees
minimum 3 years job experience |
Minimum years in current
business/ profession – 3 years |
Have valid documentary proof
of at least 1 year of SI or 3 years for SEB/ SEP |
| Salary / Income: |
Minimum gross salary per month:
a. Permanent employee PKR 40,000/-
b. Contractual employee PKR 50,000/-
|
Minimum monthly income Rs.50,000/- |
Minimum monthly verify income Rs. 300,000/-
Have valid work visa
|
Q: What documents are required for availing the facility for BOP Apna Ghar Scheme?
| Documents Required |
|
Salaried Individuals (SI) |
Self Employed Professionals/
Businessmen (SEP/SEB) |
Non Resident of Pakistan (NRPs) |
Copy of valid CNIC
Self Spouse (if married)
Two References
Co-borrower
(if any) |
Copy of valid CNIC
Self Spouse
(if married)
Two References
Co-borrower
(if any) |
Copy of valid CNIC
Self
Spouse (if married)
Two References
Co-borrower
(if any) |
| Four photographs |
Four photographs |
Four photographs |
| Copy of utility bill of residence |
Copy of utility bill of residence
and business place |
Copy of utility bill of living address/
stay in Pakistan |
| Complete Application Form |
Complete Application Form |
Complete Application Form |
Salary slip (Last 3 months)
OR employer certificate |
Proof of business (NTN, Registration
with concerned Governing body etc.) |
Copy of valid work visa |
Bank Statement
(Last 6 months depicting last 6 salary credits) |
Bank Statement for last 12 months |
Refer to documents listed in
Salaried Individual if NRP is SI |
|
Form 29 / Partnership Agreement,
If applicable |
Refer to documents listed in Self Employed/
Professional/ Businessmen if NRP is SEP or SEB |
|
Copy of Professional Degree, if applicable |
|
|
Tax returns for last 3 years |
|
Q: What
Rate of markup will be charged?
A: Please visit BOP website or your nearest BOP Branch for latest rates.
Q: Is it necessary to have account in BOP?
A: Yes, it is necessary for the customer to open his account with BOP. You may have salary/income A/C with BOP or any other bank.
Q: When is the
monthly installment to be deposited?
A: The monthly installment should be deposited in your BOP A/C on or before 5th of every month.
Q: Is there any
late payment penalty if monthly installment is delayed?
A: Yes, in case of late payment Rs. 1 per thousand per day of installment amount from due date till actual payment shall be charged.
Q: Will I have to pay any
additional charges on pre-payment/balloon payment of my installments?
A: Yes, you will be charged pre-payment penalty at the rate of 3% of Principal Amount.
Q: What
other charges will I have to pay in order to avail the finance facility?
A: The customer will have to pay one time processing fee (non-refundable)
Processing Fee: SI / SEP = PKR 8,000/-
Others = PKR 10,000/-
Q: Can the loan amount from the bank be used in other purposes?
A: No, the amount financed by the bank can only be used for the specific purpose it has been availed.
Q: Can the application for the loan be cancelled?
A: Yes, the bank is authorized to cancel any request if the applicant doesn’t fulfill the necessary requirements, required by the bank.
Q: What are the
property locations for the facility?
A: The list of positive areas is available on the official website of the bank.
Q: What are the
rights and obligations of the customer regarding the facility?
A:
|
Duties/Obligations: |
Rights: |
1. The customer should timely provide all
the required information relating to facility.
2. Payment by the customer should be made as
per the agreed terms in Finance Agreement.
3. To maintain sufficient funds
in bank a/c for monthly deductions
|
1. To receive notifications of any change
in terms & conditions within 30 days of pronouncement.
2. To receive the repayment
schedule free of cost.
3. To contact the bank officials
during the business hours.
|
Q: In case of
any queries, whom should the customer contact?
A: The customer can approach the bank officials by using the following contacts:
For General Queries: 042-99268075 / 35817491
For lodging any complaint: rfdcomplaints@bop.com.pk