Just point your finger at the Bungalow or Apartment of your choice and we’ll help you buy it.
||2 to 25 years
||Rs. 200K – 150M
|Bank Investment Ratio
||Maximum up to 70% for salaried
Maximum up to 70% for SEP *
(* Doctors, Engineers, Architectures, Chartered Accountants)
Maximum up to 60% for Business persons/NRPs
|Prepayment Option available
||● Maximum 10% of outstanding Balance is allowed in a year after 1st year with no additional unit price.
● Additional units will be sold at 5% higher value if paid within 1st Year of disbursement.
● If above 10% outstanding balance is paid, additional units will be sold at 2.5% higher value if paid within 2nd and 3rd Year of disbursement.
● If above 10% outstanding balance is paid, additional units will be sold at 1.5% higher value if paid within 4th and 5th Year of disbursement.
● After 5th Year = NIL
The MUSKUN Home financing facility is based on the principle of Diminishing Musharakah and Ijarah. The Diminishing Musharakah transaction is based on Shirkat-ul-Milk where you and the Bank participate in ownership of a property.
The share of the bank is then leased to you on the basis of Ijarah and is divided into a number of units. It is then agreed that you will buy the units of the bank periodically, thereby increasing your own share till all the units of the Bank are purchased by you which will make you the sole owner of the property.
Till that time, you pay the Bank rent for its units leased to you. The rent keeps on decreasing as your ownership in the property increases and that of the Bank decreases.
Financing up to 50% to 70% of the value of the property
Financing limit Rs. 150 Million
Tenure up to 25 years
Flexibility to make partial prepayments
Flexible & affordable installments
Clubbing of family income
No negative area