Alfalah Karobar Finance offers running finance, LG, LC and other import/export related facilities against mortgage of residential/commercial property.
Features and benefits
- Only 25% cleanup required
- Quick processing and loan disbursement
- Minimal processing charges
- To be paid monthly or quarterly as decided by the approving authority on case-to-case basis.
Eligibility
- Applicant must be a Pakistani National Identity Card Holder
- He/she should be between 23 and 60 years of age at the time of the application, subject to maximum age of 60 on maturity of finance
- He/she must be running a business for at least 3 years with a satisfactory track record
- The security against the finance should be a mortgage of urban residential/commercial property (ies)
- Validity of the financing shall be initially for a period of one year
- Financing facility up to 70% of assessed market value of mortgaged property
- 3 times turnover of the limit assigned is required in the account
Rates & Charges
Processing fee (up-front with LAF): As per Schedule of Charges
Documentation charges: actual cost of revenue and special adhesive stamps
Legal charges: Actual and approved charges of lawyers on the Bank’s approved panel
Valuation charges: Actual and approved charge of valuators on the Bank’s approved panel
