Easy Home is a completely interest (Riba) free solution to your home financing needs. Unlike a conventional house loan, Meezan Bank’s Easy Home works through the Diminishing Musharakah where you participate with Meezan Bank in joint ownership of your property. The nature of the contract is co-ownership and not a loan. This is because the transaction is not based on lending and borrowing of money but on joint ownership of a house. Meezan Bank, thus shares the cost of the house being purchased. Creating joint ownership and then gradually transferring ownership to the consumer instead of simply lending money is the major factor that makes Easy Home Shariah-compliant.
With Easy Home you participate with Meezan Bank in joint ownership of your property, where the Bank will provide a certain amount of financing. You agree to a monthly payment to the Bank of which one component is rent for the home, and another for your equity share. In fact, the total monthly payment is reduced regularly as your share in the property grows. When you have made the full investment, which had been agreed upon, you become the sole owner with a clear title to the property.
Pakistani national (Resident or Non Resident) as per policy
*Incase of salaried person, applicant and/or co-applicant financing maturity date shall not exceed the date of retirement.
*In case of businessman, required co-applicant’s maximum age at financing maturity is 65 years (if business income is being clubbed) and 70 years if business income is not being clubbed.
Permanent job with a minimum 2 years continuous work history in the same industry / field.
Minimum 3 years in current business / industry.
Fixed – 1st Year : K * + 3.00 % p.a
Annual Re-pricing : K ** + 3.00 % p.a.
(Floor 8.00% p.a. and Cap 30% p.a.)
* For first year Fixed Rate, 'K' denotes KIBOR (Karachi Inter Bank Offer Rate), announced on 1st working day of each calendar month.
** KIBOR shall mean 12-month (Karachi Inter Bank Offer Rate), announced on 1st working day of each calendar month immediately preceding the end of (transaction) the year.
(Terms & Conditions apply. This offer is valid till December 31, 2019)
Meezan Bank’s Easy Home works through the Diminishing Musharakh and conforms to Shariah laws specifically related to financing, ownership and trade. The nature of the contract is co-ownership and not a loan because the transaction is not based on lending and borrowing of money but on joint ownership in a house. Meezan Bank shares the cost of the house being purchased. Creating joint ownership and then gradually transferring ownership to the consumer instead of simply lending money is the major factor that makes Easy Home Shariah-compliant.
With Easy Home the Bank will finance up to 65% and 75% of the property value to businessmen and salaried individuals. The customer agrees to a monthly payment to the Bank, part of which is for use of the house and part for purchasing the bank’s share in the house. When the customer has made the full payment which had been agreed upon, he become's the sole owner with a free and clear title to the property. The profit charged by the Bank is therefore payment for use of its share of the house during the life of the contract.
Submit a filled & signed application form to Meezan Bank. Submit the required cheque for Processing Fee & External Agency costs.
Attach the required documents with your applicationView list of documents
Meezan Bank's appointed valuation agency will evaluate the property to determine its market value
Must be a Pakistani national
Buyer, Builder, Renovation & Replacement
100% co-applicant income club in case in case of spouse.
25 to 60 years. (Maximum 60 years at the time of maturity)
25 to 70 years. (Maximum 70 years at the time of maturity)
Minimum income must be equivalent to PKR 150,000/- or above.
Two years (minimum) regular experience in same industry. Minimum last 1-year existing job in the same country.
3 to 20 Years.
(Regional Manager - HF Sales (South))
Cell No: 0332-2221891
Address: 3rd Floor, Al-karam Centre,
Plot No. BCI, Block – 7, Clifton, Karachi.
Dir. No. 021-99250696, PABX No. 021-99250691-94
(Regional Manager - HF Hub (Central))
Cell No: 0300-9496445
Address: Gulberg Branch, 60 Main Boulevard, Gulberg - II, Lahore.
Dir. No. 042-35757435-6, PABX. No. 042-35879870-2
(Regional Manager - HF Hub (North))
Cell No: 0304-0920524
Address: Mezzanine Floor, 33, Buland Markaz,
Jinnah Avenue, Blue Area, Islamabad.
Dir. No. 051-2271083, PABX No. 051-2871229 - 31
Cell No: 0300-7203505
Address: Meezan Bank Limited, 718-1
Satiana Road Branch, Faisalabad
Dir. No. 041-8730478
Cell No: 0300-6380586
Address: Nawan Shahar LMQ Road, Multan.
Dir. No. 061-4781554, PABX No. 061-4785604-07
Cell No: 0300-8686220
Dubai Chowk Branch, Bahawalpur
PABX No. 062-2889417-18 Ext # 105
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