Allied Bank Discounts

1. All salaried individuals maintaining salary account with ABL or any other bank.
2. Salaried individual working as permanent staff
3. Minimum length of employment 3 years with existing employer
4. Minimum net monthly salary of Rs. 50,000/-
5. Minimum six (06) months’ relationship with bank(s)
6. 6 salaries to be credited in bank account within last six months

• Active membership/association confirmation from ICAP

Self- Employed Individuals Criteria

• All Self-Employed individuals maintaining depository relationship with Allied Bank for past 1 year and in case of other Bank, 2 years relationship required.   

2. Length of respective business/profession should be minimum 2 years in case of depository relationship with ABL and in case of other Bank account’s relationship minimum 3 years required
3. Minimum Net Income 75,000/- per month for ABL account holders and for other Bank Rs. 100,000/- per month
4. Active membership/association confirmation from ICAP

 Age

Min: 25 Years   Max: 57 Years.
Minimum 3 years of financing. In case of salaried individual, applicant should not be more than 60 years while in case of self-employed applicant should not be more than 65 years old at the time of maturity of facility.

Minimum & Maximum
Finance Amount (Rs.)

• Minimum of Rs.0.5 Million and maximum of Rs. 60 Million
• Home Renovation of Rs. 0.5 to Rs. 10 Million

Tenure of the loan

• 3 to 25 years.
• For Home Renovation 3 to 10 years

 Profit/Mark-up Rate

1 YK + 2.36%

Insurance

Type of Loan

• Home/Apartment Purchase
• Home Construction (Land Already Owned)
• Buy Land and Construct a Home
• Home Renovation
• Loan Transfer Facility (LTF)

*Value of land as well as existing structure will be counted towards equity

• Processing Fee (all segments including LTF): Rs: 6500 + FED
• Property Valuation Fee: will be borne by the applicant
• Lawyer Fee: will be borne by the applicant
• Registration / Redemption legal charges: will be borne by the Applicant

Prepayment Penalty

As per approved SOC

Balloon Payment

After completion of two years, four (4) balloon payments are allowed during the tenure of the loan. Each balloon payment should be equivalent to EMI of 6 months. 2nd and subsequent balloon payments shall be allowed after 1-year gap. Revised repayment schedule would be issued accordingly after each balloon payment

Geographical Coverage

At initial stage this facility will be offered for Lahore, Islamabad/ Rawalpindi, Faisalabad, Multan & Karachi

Salaried Individuals Criteria

1. All salaried individuals maintaining salary account with ABL or any other bank.
2. Salaried individual working as permanent staff
3. Minimum length of employment of 2 years 
4. Minimum net monthly salary of Rs. 40,000/-
5. Minimum six (06) months’ relationship with bank(s)
6. 6 salaries to be credited in bank account within last six months
7. All C.N.I.C holders i.e. a Pakistani National
8. Active membership/association confirmation from ICAP

Self- Employed Individuals Criteria

• All Self-Employed individuals maintaining depository relationship with the ABL Bank for past 1 year and in case of other Bank 2 years   
• Length of respective business/profession should be minimum 2 years in case of depository relationship with ABL and in case of other Bank account’s relationship of minimum 3 years
• Minimum Net Income Rs. 60,000/- per month
• Active membership/association confirmation from ICAP

 Age:
Min: 21 Years   Max: 59 Years.

• Minimum 1 years of financing. In case of salaried individual, applicant should not be more than 60 years while in case of self-employed, applicant should not be more than 65 years old at the time of maturity of facility

Minimum of Rs . 0.2 Million and maximum of Rs. 8 Million.

Brand New Vehicle (Locally Manufactured/ Imported/CBU):
Minimum 1 year and maximum 7 years

Used Vehicle (Locally Manufactured/ Imported):
Minimum 1 year and maximum 5 years.
Vehicle requested for finance should not be older than 3 years at the time of financing and should not be more than 8 years old at the time of maturity. Three (3) years should start from the date of manufacturing and not from the date of registration or recondition in case of both locally manufactured and imported vehicles respectively.
Used Locally/imported vehicle shall be subject to assessed Forced Sale Value (FSV).

• 1YK+2% (salary routed through ABL)
• 1YK+3% (salary routed through Other banks)

Type of Vehicle

• Brand New Vehicles (Locally Manufactured/ imported/ Completely Built Unit)
• Used Vehicles (Locally Manufactured/imported)
• Loan Transfer Facility

Minimum Debt To Equity Ratio

80:20

Rs. 7,500/- This will be paid on acceptance of offer letter

Prepayment Penalty

As per approved SOC

Balloon Payments

After completion of one year, two (2) balloon payments are allowed during the tenure of the loan. Each balloon payment should be equivalent to EMI of 6 months. 2nd balloon payment will be allowed after one (1) year gap from 1st balloon payment.

Insurance and Tracker

• Comprehensive insurance coverage only through ABL’s approved insurer covering full value of the vehicle throughout the tenure of financing facility is compulsory. Premium will be payable by Obligor for the 1st year in advance and for subsequent years in installments as a component of equal monthly installments
• Tracker facility will be available on Insurance Companies recommendation as per approved rates.