KARACHI – The State Bank of Pakistan has launched a new home loan program to help families buy their first house. The Mera Ghar Mera Ashiana scheme offers low-cost loans to people who have never owned a home before.
Rising house prices have made it hard for many Pakistani families to buy homes. This new program aims to solve that problem with government help and lower interest rates.
Program Details
The loan program runs from January to December 2025. Applications stay open all year round.
Families can borrow between 2 million and 3.5 million rupees. The government divides loans into two groups based on amount.
Loan Groups:
- Tier 1: Up to 2 million rupees at 5% interest
- Tier 2: From 2 million to 3.5 million rupees at 8% interest
These rates are much lower than normal bank rates of 18-22%.
Who Can Apply for Mera Ghar Mera Ashiana Loan Scheme?
Only Pakistani citizens with valid identity cards can apply. The person must be buying their first home. They cannot already own a house or apartment. Married couples can apply together. Each bank sets its own age and income rules.
What Can You Use the Money?
Borrowers have three choices for using the loan:
- Buy an existing house or apartment
- Build a new house on land they already own
- Buy land and build a house on it
The program only covers small and medium homes. Houses must be 5 marla or smaller. Apartments cannot be bigger than 1,360 square feet.
Payment Terms
Borrowers get up to 20 years to pay back the loan. The government helps pay interest for the first 10 years. This makes monthly payments smaller and easier to afford.
Banks provide 90% of the home’s cost. Buyers only need to pay 10% upfront. For a 2-million-rupee house, the buyer pays just 200,000 rupees at the start.
No Hidden Costs
The program has no processing fees or early payment penalties. Banks can only charge standard document fees. This keeps costs low for families.
Bank Support
The government protects banks by covering 10% of loan losses. This encourages more banks to join the program.
Most major Pakistani banks are taking part. This includes commercial banks like HBL and UBL. Islamic banks like Meezan Bank also offer the loans. Microfinance banks and the House Building Finance Corporation are participating too.
How to Apply For SBP Mera Ghar Mera Ashiana Loan Scheme 2025?
Families can visit any participating bank branch. They need to fill out an application form and bring required papers.
Required Documents:
- Copy of identity card
- Salary slips or business income proof
- Property documents if buying existing home
- Passport photos
Banks check if applicants meet the rules. Once approved, they release the loan money according to the payment plan.
Program Impact
Housing experts say this program could help thousands of families become homeowners. The low interest rates and government support make it easier than ever to buy a first home in Pakistan.
Bank officials report strong early interest from potential borrowers. Many families who could not afford homes before are now visiting branches to learn more.
The program continues the government’s push to increase home ownership rates across the country. Officials hope it will boost the construction industry and create more jobs.
Families interested in applying should gather their documents early and visit their nearest participating bank branch.
