Unlock financial flexibility for every dream
Bank AL Habib Cash Finance is a hassle-free secured personal loan that provides cash for your need at the most competitive rate against your National Savings Certificates, Pak Rupee/Foreign Currency Bank AL Habib Deposits & First Habib Cash Fund units.
Enjoy the Exclusive Benefits
- Prompt & Hassle-Free Processing
- Balance Transfer Facility
- Documentation Charges at Actual
- No Pre-payment Penalty
- Third Party security of Bank AL Habib Deposit/National Saving Certificates
- PayPak Debit Card (Default)*
- Free Online Banking
- Free E-Statement/ AL Habib Mobile and Netbanking Facility
Bank AL Habib Cash Finance works in two ways:
- Running Finance Facility (RF), a Revolving line of Credit with quarterly mark-up servicing
- Term Finance Facility (TF), 1 Year to 4 Years, repayments in equal monthly installments
Note:*Customers can avail free PayPak Debit Card on the condition of maintaining a minimum monthly average balance of PKR 25,000/- However, you can also opt for a Visa or UnionPay Card. Charges will be applicable as per prevailing Schedule of Bank Charges
Who can avail AL Habib Cash Finance facility?
- Resident Pakistanis such as Salaried, Self Employed & Business Individuals
- Having Requirement of funds for personal use
- Having Satisfactory Credit History
Finance Amount
- Minimum Finance amount is PKR 50,000/-
- Maximum 90% against PKR Deposits (only profit bearing accounts), FCY Savor Deposit \/ Encashment value of Securities and 85% on\nForeign Currency Deposits
Who can avail AL Habib Cash Finance facility?
Financing upto PKR 5.0 Million (Against Foreign Currency Deposits and Permissible Government Securities)
- Running Finance 2.00% over Deposit Rate
- Term Finance 1.50% over Deposit Rate
Financing upto PKR 5.0 Million Against Bank AL Habib PKR Deposits (only profit bearing accounts)
- Running Finance 2.00% over 3 Months KIBOR
- Term Finance 1.50% over 1 Year KIBOR
For Financing of over PKR 5.0 Million
- Running Finance 1.50% over 3 Months KIBOR
- Term Finance 1.25% over 1 Year KIBOR
Note:
DSC, SSC & RIC of minimum 3 months age or above would be acceptable
Documents Required
Bank's prescribed Application Form
- Copy of CNIC / SNIC
- Latest salary slip / Salary Certificate (For salaried person)
- Bank Account Statement for last six Months (For Business Person) Any other document of income proof, if available Liability declaration (CF-1)
Open a Cash Finance Account
- Visit nearest Bank AL Habib Branch for an Account Opening Form
- Submit the duly completed form with all supporting documents
FAQ's
We offer both Term Finance (TF) & Running Finance (RF) Facility for individuals to meet their personal, family or household needs.
Minimum Finance amount is PKR 50,000/- Maximum 90% against PKR Deposits (only profit bearing accounts), FCY Savor Deposit / Encashment value of Securities and 85% on Foreign Currency Deposits.
| For Financing up to Rs. 5 Million | For Financing Above Rs. 5 Million | |||
|---|---|---|---|---|
| Running Finance | Term Finance | Running Finance | Term Finance | |
| Against Bank AL Habib PKR Deposit | 2.0% over Deposit Rate | 1.5% over Deposit Rate | 1.5% over Deposit Rate | 1.25% over Deposit Rate |
| Against Bank AL Habib Foreign Currency Deposit, and Permissible Government Securities | 2.0% over 3 Month KIBOR | 1.5% over 1 Year KIBOR | 1.5% over 3 Month KIBOR | 1.25% over 1 Year KIBOR |
| Against Bank AL Habib Foreign Currency Savor Deposit | 3 Month KIBOR | 6 Month KIBOR | 3 Month KIBOR | 6 Month KIBOR |
| Against First Habib Cash Fund | 2.0% over 3 Month KIBOR | 1.5% over 3 Month KIBOR | 1.5% over 3 Month KIBOR | 1.25% over 3 Month KIBOR |
Quarterly mark-up in Running Finance is payable within 15 days of it’s becoming due. Monthly mark-up payable will be included in Equal Monthly Installment for Term Finance. Late Payment charge of PKR 500 shall be applicable after due date
Bank AL Habib Deposit and / or Defence Saving Certificates, Special Savings Certificates, Regular Income Certificate, Market Treasury Bills, Pakistan Investment Bonds, and Premium Prize Bonds shall be acceptable as security.
Yes, Bank AL Habib Deposit/ Govt Securities both are acceptable.
No. As per SBP regulations, only DSCs, SSCs, RICs are acceptable.
Processing Fee is applied as per the Schedule of Bank charges
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