AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Buying a home in Pakistan has become more attainable for overseas Pakistanis with the introduction of the Roshan Apna Ghar initiative. This government-backed scheme, coupled with financial solutions such as the Roshan Digital Account, offers streamlined banking support, enabling non-resident Pakistanis to invest in property or finance home construction with ease.
The Roshan Apna Ghar scheme, designed in collaboration with the State Bank of Pakistan, allows overseas Pakistanis to apply for home loans through digital platforms linked to their Roshan Digital Account. This initiative caters to various homeownership needs, including purchasing a ready-made house or apartment, constructing a house on an existing plot, buying a plot to build a home, or undertaking home renovation projects.
JS Bank is among the financial institutions offering this facility, providing overseas Pakistanis with access to Pakistan’s property market. The scheme supports both conventional and Islamic financing models, offering flexible options tailored to the financial preferences of non-resident Pakistanis.
Under the Roshan Apna Ghar initiative, applicants can use their Roshan Digital Account to pledge cash as collateral or apply without any cash collateral, subject to bank and government criteria. Loan amounts, repayment tenure, and markup rates vary based on the applicant’s profile and the terms of the selected bank. Some banks also offer fixed markup options initially, transitioning to variable rates later in the loan cycle.
The government’s Mark-up Subsidy Scheme (GMSS) applies to this program, making it more affordable for eligible borrowers by reducing the effective interest rate under specific tiers. This enhances the affordability of purchasing or renovating property in Pakistan.
Non-resident Pakistanis can apply for financing entirely online through their Roshan Digital Account, eliminating the need to visit Pakistan. The Roshan Digital Accounts support both foreign and PKR transactions, ensuring secure and regulated financial activities managed under the guidelines of the State Bank of Pakistan.
To apply for Roshan Apna Ghar financing, individuals must first open a Roshan Digital Account. Required documents typically include proof of overseas residence, valid identification, and income verification. Once the account is opened, applicants can explore housing finance options directly through their bank’s digital portal.
JS Bank’s participation in the Roshan Apna Ghar initiative offers tailored housing finance solutions, including competitive markup rates, financing with or without collateral, and access to the Government Mark-up Subsidy Scheme. This initiative aims to support non-resident Pakistanis in building a long-term asset in Pakistan while contributing to national development.