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A Complete Guide on Akhuwat Housing Loan Scheme 2022

Introduction:

The shelter is one of the basic needs of citizens. Pakistan is a poverty-stricken country, and most of its people live without shelter. We often see people living on roads and streets as they cannot afford to buy homes or pay rent.

Addressing this social issue, the government of Pakistan has launched Akhuwat Housing Loan Scheme to provide housing loans to eligible candidates. This article tells all you need to know about Akhuwat Housing Loan Scheme.

Akhuwat Housing Loan Scheme 2022:

The great initiative of the Akhuwat Housing finance program will be effective from the current year 2022. Under this program, interest-free Akhuwat loans will be provided to the poor and eligible people who wish to build their homes.

Akhuwat Housing Loan Scheme 2022

The total funds received for this scheme is PKR 7 billion. Through Akhuwat Islamic Microfinance (AIM), the Ministry of Housing & Works has introduced this housing loan scheme according to Islamic Shariah-compliant product up to PKR 500,000/-.

It is pertinent to mention that the Akhuwat Islamic Microfinance (AIM) has signed a Memorandum of Understanding (MOUs) with Engro Energy LTD and K-Electric to provide interest-free loans to deserving people. You may also read about methods for checking CNIC.

Benefits of Akhuwat Housing Loan Scheme 2022:

The flagship project of Akhuwat Housing finance offers the following boons:

  • Housing loan up to PKR 500,000
  • No fee for application processing
  • Average monthly rental amount of up to PKR 10,000
  • Repayment period from 13 to 60 months; early repayment will be welcomed
  • Financing for the following purposes:
    • Renovation of an old house
    • New construction or Lanter for a new house
    • Addition of rooms, kitchen & bathroom, etc. to an already constructed home

Eligibility Criteria for Akhuwat Housing Loan Scheme 2022:

Below are the eligibility criteria for the Akhuwat Housing finance program 2022:

  • The candidate must have a valid CNIC
  • Applicant must own a piece of land or a house
  • The age of the candidate must be up to 60 years
  • The candidate should have a crystal clear credit history (if any)
  • The candidate must own good social and moral character in the community
  • The household income of the candidate should be up to PKR 60,000 per month
  • The candidate must have a residence in the operational area of AIM’s branch
  • The candidate must have a land size of 5 Marla or less or a covered area that is not more than 1,360 sq. ft.
  • The candidate must have a valid ownership title or evidence of land/house (it may include Registry, Inteqal, Fard, Allotment Letter, or any other valid and appropriate evidence)

Note: Widows and families with monthly incomes below PKR 40,000 are given priority.

How to Apply Online for Akhuwat Housing Loan Scheme 2022?

Registration for the Akhuwat Housing Loan program is open. However, the last to apply has not been disclosed by the authorities. So, this is the best time to apply for the scheme. You may also read about how to apply for FIA jobs.

If you want to know about Akhuwat Housing Loan Scheme 2022 online apply, you are on the right platform. For applying for the scheme, all you need to do is follow some simple and quick steps that we present to you. Below are the steps:

Step 1:

Click on the link https://donate.akhuwat.org.pk/register. The registration form will pop up on your screen.

Step 2:

Fill in all the fields on the form, and submit the form. In this way, you will become a member of the loan scheme. After processing your application, the authorities will give you a housing loan.

How to Apply Online for Akhuwat Housing Loan Scheme 2022?

Frequently Asked Questions (FAQs):

Below are some of the questions people ask about this scheme:

Q1: What is the last date to apply for this scheme?

Ans: The government of Pakistan has not shared the last date to apply for this scheme.

Q2: What is the age limit for the loan program?

Ans: The age of the interested candidate should be up to 60 years.

Q3: Are women eligible for this scheme?

Ans: Only widows are eligible for this scheme.

Conclusion:

Naya Pakistan Housing Program guides its reader on Akhuwat Housing Loan Scheme 2022. The project has been initiated by the federal government of Pakistan and aims at providing home loans to the poor and underprivileged people of Pakistan. Through this scheme, such people will build their own homes. The process of applying for the program is easy for any candidate.

If you have any queries regarding the loan program, you can write your question in the comment section below.

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