Mera Pakistan Mera Ghar (MPMG) Housing Loan Scheme

What is MPMG?

Mera Pakistan Mera Ghar (MPMG) is a program to help people in Pakistan buy or build homes. This scheme offers loans with low-interest rates, making it easier for people to own a house.

Who Can Get the MPMG Loan?

Anyone with a valid CNIC (National Identity Card) or NICOP (National Identity Card for Overseas Pakistanis) can apply for the loan. Here are the main conditions:

First-Time Homeowner

You must be buying or building your home first time.

One-Time Benefit

You can only use this scheme once.

NAPHDA Projects

If you are part of a NAPHDA (Naya Pakistan Housing and Development Authority) project, they will help you apply for the loan.

How Can You Use the Loan?

The loan can be used for different purposes:

Buying a House or Apartment

Purchase a new house or apartment.

Buying a Plot and Building on It

Buy land and build a house on it.

Extending an Existing House

Add more rooms or space to your current house.

Building on Owned Plot

Construct a house on land you already own.

Types of Loans

For NAPHDA Projects

House

Up to Rs. 2.7 million can be financed for houses measuring up to 125 square yards (5 marlas) with a maximum covered area of 850 square feet.

Apartment

Up to Rs. 2.7 million can be financed for apartments with a maximum covered area of 850 square feet.

For Non-NAPHDA Projects

You can also get loans for non-NAPHDA projects under similar conditions but the eligibility and amount might vary.

Loan Terms and Interest Rates

You can choose how long you want to repay the loan, from 5 to 20 years.

For NAPHDA Projects

• First 5 Years: 3% interest rate
• Next 5 Years: 5% interest rate
• After 10 Years: KIBOR (Karachi Interbank Offered Rate) + up to 250 basis points

Monthly Installments

Here’s how the monthly installments look for different loan amounts:

From Year 1 to Year 5

• Rs. 0.5 Million: Rs. 3,300
• Rs. 1 Million: Rs. 6,600
• Rs. 2 Million: Rs. 13,199
• Rs. 2.7 Million: Rs. 14,974
• Rs. 6 Million: Rs. 39,597
• Rs. 8 Million: Rs. 62,024
• Rs. 10 Million: Rs. 77,530

From Year 6 to Year 10

• Rs. 0.5 Million: Rs. 3,751
• Rs. 1 Million: Rs. 7,501
• Rs. 2 Million: Rs. 15,002
• Rs. 2.7 Million: Rs. 17,147
• Rs. 6 Million: Rs. 45,007
• Rs. 8 Million: Rs. 69,990
• Rs. 10 Million: Rs. 87,487

How to Apply

Step 1: Fill Out the Application Form

You need to fill out the loan application form available on the SBP website.

Step 2: Submit Required Documents

Submit all required documents, including:

• CNIC copy
• Two passport-sized photos
• Proof of employment
• Income proof (salary slip or certificate)
• Proof of property ownership (if applicable)

Step 3: Submit the Form

Submit the completed form and documents online or at the bank.

Help and Support

The State Bank of Pakistan has set up help desks in its 16 offices across the country. You can visit these help desks if you need help with the application process. They can also help if you have complaints or need more information.

Contact Information

If you have any questions or need more information, you can contact the helpline at +92 (0) 3377786786.

Benefits of the MPMG Scheme

Affordable Housing

Low-interest rates make it easier to buy or build a house.

Flexible Terms

You can choose an easy repayment period that suits you.

Support for Construction Sector

Helps boost economic activities by supporting the construction sector.

Government Support

Backed by the Government of Pakistan and executed by the State Bank of Pakistan and NAPHDA.

Conclusion

The Mera Pakistan Mera Ghar (MPMG) scheme is a great opportunity for Pakistanis to own a home. With low-interest rates and support from the government, it makes housing more affordable and accessible. If you want to buy or build your own home, consider applying for the MPMG loan. Visit the SBP website or contact the helpline for more information and start your journey to owning a home today.