Alfalah Karobar Finance

Alfalah Karobar Finance offers running finance, LG, LC and other import/export related facilities against mortgage of residential/commercial property.

Features and benefits

• Stock insurance not required
• Only 25% cleanup required
• Affordable markup rates to be paid on a quarterly basis
• Quick processing and loan disbursement
• Minimal processing charges

Eligibility

• Applicant must be a Pakistani National Identity Card Holder
• He/she should be between 23 and 60 years of age at the time of the application, subject to maximum age of 60 on maturity of finance
• He/she must be running a business for at least 3 years with a satisfactory track record
• The security against the finance should be a mortgage of urban residential/commercial property (ies)
• Validity of the financing shall be initially for a period of one year
• Financing facility up to 70% of assessed market value of mortgaged property
• 3 times turnover of the limit assigned is required in the account

Rates & Charges

Processing fee (up-front with LAF): As per Schedule of Charges
Documentation charges: actual cost of revenue and special adhesive stamps
Legal charges: Actual and approved charges of lawyers on the Bank’s approved panel
Valuation charges: Actual and approved charge of valuators on the Bank’s approved panel