What is the Markup-Rate?
Markup rate is linked with 1 year KIBOR, however KIBOR rate is updated every month hence rates will vary.
What should be the minimum property value?
Rs. 10 lacs
Can I take the loan against commercial property?
NO, only residential property
How much time will it take to process my loan application?
The processing time required from the time you give in your application to the time you are finally handed over your loan amount, ranges from 20 days. Provided all the required documents that you provide are in order.
What is the free insurance deal?
Throughout the market, Property Insurance is mandatory for Home Loan Products. All other banks charge insurance fee from the customers, whereas with UBL Address we provide it to you absolutely free of cost
I live in XYZ area, am I eligible to avail your facility?
Please contact your Sales Person for your eligibility to avail the facility.
What Are the Repayment modes?
Drop Box Facility
*If customer maintains an account in UBL
What would be the tenor of the loan?
The tenor can range between 3 to 20 years depending upon the facility that you choose.
Can I transfer my existing house loan to "UBL Address"?
With our "Balance Transfer Facility" you can now transfer your existing home loan taken from any other bank or financial institution to UBL Address. You will have the opportunity to avail low mark-up, maximum flexibility and free property insurance option at UBL
My monthly household income is Rs. 60,000 while my individual income is Rs. 20,000. Do I qualify?
You can apply through income clubbing also if minimum income requirement is fulfilled (Conditions apply for spouse's age limit & profession).
Will I have to pay any other charges besides the mark-up on the loan?
There are nominal charges for application processing, appraisal and income estimation, these charges are non-refundable
What is Free Property Insurance?
Throughout the market, Property Insurance is mandatory for Home Loan Products. All other banks charge insurance fee from the customers, whereas with UBL Address we provide it to you absolutely free of cost.
What are Partial Payments?
Partial payments are payments over and above a customer's monthly installment. If a customer wishes to make repayments in addition to his/her monthly installment, we allow the customer to make it once a year.
Partial Pre-Payment for previous acquisitions
If a customer decides to partially payoff any amount that is in excess of his 6 monthly instalments, he/she will be charged a penalty of 8% in the first year of the loan booking date, 5% in the second year and 3% in the third year onwards, on his additional partial payment amount.
If a customer, decides to partially payoff any amount that is in excess of his 6 monthly installments, he will be charged a penalty of 4% in the first year, 3% in the second year and 2% in the third year onwards, on his additional partial payment amount.
If the customer wants to make more than one partial payment of any amount in a 12-month period then customer will be charged a penalty of 8% in the first year of the loan booking date, 5% in the second year and 3% in the third year onwards, on his full/ 2nd subsequent partial payment.
For New Acquisitions
Max 6 monthly installments, penalty charges apply on amount exceeding Rs. 50,000 or 6 monthly installments.
8% for Year 1,
5% for Year 2,
3% in Year 3 & onwards
Are my mark-up payments income tax rebate able?
Yes, you can claim tax rebate against your mark-up paid during the year.
When are Statement of Accounts issued?
Statement OF Accounts are issued bi-annually with comprehensive details of principal repayment, outstanding balance, UBL mark up and penalties (if any) during the year.
Can overseas Non-Resident Pakistani apply for home loans?
Pakistani nationals holding valid NICOPs with their overseas permanent resident status.
Are the Property Title Document verified prior to buying?
Yes; to check the authenticity of the property title documents, Clear Legal Opinion is solicited from Bank’s solicitor, pre and post disbursement legal requisites and charge a very minimum cost that must be borne by the applicant. See “schedule of charges”