Good news: BankIslami is offering interest-free home financing under its Islamic home finance plan. You can use it to buy a home, build a house, or pay for renovation — and the bank lets you choose a repayment period from 2 up to 25 years.
Loan sizes cover a wide range, from small amounts for local home repairs to larger loans for full construction (the bank offers financing for amounts up to several million PKR depending on your need). For example, a homeowner wanting to renovate a modest house can apply for a smaller loan without needing property documents, while someone seeking a multi-million loan will need standard property paperwork.
This is interest-free (riba-free) financing — BankIslami follows Islamic financing rules and provides fatwa and documentation to show the process is Shariah-compliant. The bank also says approvals can be quick — in many cases you’ll get a decision within days if your documents are in order.
Who can apply?
• Salaried employees and pensioners (typical age window: 25–60 years)
• Business owners (age window often up to 65 years)
• Joint applicants can extend eligibility further (check with the bank if someone older is co-applying)
• You need at least 6 months employment (or 3 years business experience for entrepreneurs)
Income requirements (examples):
• Salaried person: monthly income roughly PKR 60,000 or more (exact threshold depends on loan size)
• Self-employed: show business records and income statements
Documents you’ll usually need:
• CNIC copy
• 2 passport photos
• Last 6 months’ utility bills (for address proof)
• Salary slips or employment letter (for salaried applicants)
• Bank statements / tax documents (for business owners)
• Property documents only if taking a large loan (typically above certain limits)
What else to know:
• No house-visit checks are strictly required up front — you can apply at the branch with your documents.
• If you cannot visit the branch, the bank can sometimes arrange verification at your home on request.
• The bank’s investment ratio (how much they will finance) is typically around 75% of the property value/approved cost — confirm exact ratio for your case.
How to apply:
Visit the BankIslami branch or use their online application link (I’ll post the link in comments if you want). Fill the form, upload required documents, and submit. You should receive an approval message in a few days if everything is complete.
If you’re unsure which documents apply to you (salaried vs self-employed), leave a comment below — mention whether you’re salaried or self-employed and the approximate loan amount you need. I’ll help guide you through the next steps.
