{"id":2009,"date":"2016-07-29T11:19:23","date_gmt":"2016-07-29T11:19:23","guid":{"rendered":"http:\/\/unifytrade.com\/dibbeta\/?page_id=45"},"modified":"2025-11-27T18:59:44","modified_gmt":"2025-11-27T13:59:44","slug":"home-finance","status":"publish","type":"page","link":"https:\/\/www.dibpak.com\/index.php\/consumer-finance\/home-finance\/","title":{"rendered":"Home Finance"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text el_class=&#8221;topcss&#8221;]<\/p>\n<h2 class=\"mt-0\">Dubai Islamic Home Finance<\/h2>\n<p>Owning a house has always been your dream, now Dubai Islamic Bank Home Finance will make that dream come true, along with a clear conscience as no Riba is involved! Using the Shirkat-ul-melk cum Ijarah model, you can own a home quickly, conveniently and in a Shari\u2019a compliant manner.\u201d<\/p>\n<h2>How Does Shirkat-ul-melk cum Ijara Work?<\/h2>\n<ul class=\"list-unstyled aa-ul\">\n<li>As per pre-agreed ratios the Bank and Customer will establish a partnership in a property, the Musharakah Agreement shall be signed by both parties.<\/li>\n<li>After physical\/constructive possession by the Bank, Bank leases its share in the property to the customer through entering into an Ijara agreement, clearly mentioning the rentals for first lease period.<\/li>\n<li>In case the customer wishes to purchase Bank\u2019s share in the property before completion of an agreed lease period, the bank may sell its ownership share in the property to the customer at a specified price.<\/li>\n<li>At maturity of an agreed lease period, bank sells its ownership share in the property to the customer at a specified price through a separate sale\/purchase agreement or transfers the ownership by executing a gift deed at its discretion.<\/li>\n<\/ul>\n<h2>Fatwa<\/h2>\n<div>\n\n\t<div class=\" download_link \">\n\t<a href=\"https:\/\/www.dibpak.com\/wp-content\/uploads\/2018\/09\/Shariah-Compliance-Certificate-HF-English.pdf\" class=\"vc_row wpb_row vc_row-fluid\" >\n      <div class=\"d-reports-box \">\n            <div class=\"col-md-9 pl-0 pr-0 float-left\">\n                <h6 class=\"mb-0\">Download Fatwa (English)<\/h6>\n               <h5 class=\"mt-0\">PDF Download<\/h5>\n            <\/div>\n            <div class=\"col-md-3  pl-0 pr-0 float-left text-right\"><img decoding=\"async\" src=\"https:\/\/www.dibpak.com\/wp-content\/themes\/dib\/assets\/images\/report-img.png\" class=\"mt-2 mr-2\"><\/div>\n        <\/div>\n\t\t<\/a>\n\t\t<\/div>\n\t<\/div>\n<div>\n\n\t<div class=\" download_link \">\n\t<a href=\"https:\/\/www.dibpak.com\/wp-content\/uploads\/2018\/09\/Shariah-Compliance-Certificate-HF-Urdu.pdf\" class=\"vc_row wpb_row vc_row-fluid\" >\n      <div class=\"d-reports-box \">\n            <div class=\"col-md-9 pl-0 pr-0 float-left\">\n                <h6 class=\"mb-0\">Download Fatwa (Urdu)<\/h6>\n               <h5 class=\"mt-0\">PDF Download<\/h5>\n            <\/div>\n            <div class=\"col-md-3  pl-0 pr-0 float-left text-right\"><img decoding=\"async\" src=\"https:\/\/www.dibpak.com\/wp-content\/themes\/dib\/assets\/images\/report-img.png\" class=\"mt-2 mr-2\"><\/div>\n        <\/div>\n\t\t<\/a>\n\t\t<\/div>\n\t<\/div>\n<h2>Product Offerings<\/h2>\n<ul class=\"list-unstyled aa-ul\">\n<li>Home Purchase<\/li>\n<li>Home Renovation<\/li>\n<li>Purchase of Undivided share of Property Mortgaged by other banks (Balance Transfer)<\/li>\n<li>Construction Finance<\/li>\n<\/ul>\n<h2>What makes Dubai Islamic Home Finance the Best Choice<\/h2>\n<p>There are so many reasons that make Dubai Islamic Home Finance the right choice!<\/p>\n<ul class=\"list-unstyled aa-ul\">\n<li>Shari\u2019a Compliant<\/li>\n<li>Financing Up to Rs. 75 million*<\/li>\n<li>Swift application processing time<\/li>\n<li>Affordable and competitive monthly rental<\/li>\n<li>Financing up to 70% of your property value<\/li>\n<li>Early &amp; Partial settlement options*<\/li>\n<li>Tenor rescheduling option*<\/li>\n<li>Complimentary Property Takaful<\/li>\n<\/ul>\n<p><b>*Terms &amp; conditions Apply<\/b><\/p>\n<h2>Pricing Mechanism \/ Profit Rate Criteria<\/h2>\n<p>Dubai Islamic Home Finance is a variable rate product i.e. the rental rate is linked with revisable Karachi Interbank Offered Rate (KIBOR) which shall be revised after every six or twelve months from the date of contract booking depending upon your chosen renewal option.<\/p>\n<p style=\"font-size: 16px;\">Applicable Profit Rate = Relevant KIBOR + Margin The prominent features of the Pricing Mechanism of the Dubai Islamic Home Finance are further explained in detail as follows:<\/p>\n<ol>\n<li>The variable rental is based on a benchmark KIBOR + a predefined margin.<\/li>\n<li>The variable rental and the rental payment schedule, which will be offered to you at the time of contract booking, shall be valid for six or twelve months only depending upon your chosen renewal option.<\/li>\n<li>The variable rental is (annually or semi-annually) renewable. It is renewed based on the prevailing KIBOR rates at the time of renewal. In other words the rental rate is linked with revisable KIBOR rate which shall be revised after every six or twelve months from the date of execution of the Payment Agreement.<\/li>\n<li>The predefined Bank\u2019s margin remains constant throughout the financing period. However the KIBOR may increase or decrease based on market rate movement which can change the rental amount. To further explain this point a hypothetical illustration is given below using 12 month KIBOR as benchmark for your understanding.<\/li>\n<\/ol>\n<p>Hypothetical and Approximate Rental calculations for illustrative purposes only<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 col-xs-12\">\n<table class=\"table-responsive\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\">\n<tbody>\n<tr>\n<td><span style=\"color: #8b2232; font-size: 12px;\">Year #<\/span><\/td>\n<td><span style=\"color: #8b2232; font-size: 12px;\">Financing Amount<\/span><\/td>\n<td><span style=\"color: #8b2232; font-size: 12px;\">Financing Tenure<\/span><\/td>\n<td><span style=\"color: #8b2232; font-size: 12px;\">KIBOR<\/span><\/td>\n<td><span style=\"color: #8b2232; font-size: 12px;\">Bank&#8217;s Margin<\/span><\/td>\n<td><span style=\"color: #8b2232; font-size: 12px;\">Profit Rate<\/span><\/td>\n<td><span style=\"color: #8b2232; font-size: 12px;\">Monthly Rental<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"color: #000000; font-size: 12px;\">1*<\/td>\n<td style=\"color: #000000; font-size: 12px;\">10,000,000<\/td>\n<td style=\"color: #000000; font-size: 12px;\">20 Years<\/td>\n<td style=\"color: #000000; font-size: 12px;\">13.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">4.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">17.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">153,900<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #000000; font-size: 12px;\">2**<\/td>\n<td style=\"color: #000000; font-size: 12px;\">10,000,000<\/td>\n<td style=\"color: #000000; font-size: 12px;\">20 Years<\/td>\n<td style=\"color: #000000; font-size: 12px;\">16.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">4.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">20.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">175,630<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #000000; font-size: 12px;\">3***<\/td>\n<td style=\"color: #000000; font-size: 12px;\">10,000,000<\/td>\n<td style=\"color: #000000; font-size: 12px;\">20 Years<\/td>\n<td style=\"color: #000000; font-size: 12px;\">11.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">4.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">15.00%<\/td>\n<td style=\"color: #000000; font-size: 12px;\">139,959<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<p>* The arbitrary 12 month KIBOR and rate of Bank&#8217;s margin is taken as assumption.<\/p>\n<p>** In year 2, the KIBOR is increased by 3% from year 1 and Bank&#8217;s margin remains constant.<\/p>\n<p>*** In year 3, the KIBOR is decreased by 5% from year 2 and Bank&#8217;s margin remains constant.<\/p>\n<h2>Installment Payment Frequency and Mode<\/h2>\n<p>DIBPL Home Finance customers can make their \u201cmonthly rental payments\u201d through any of the following modes\/channels as per their convenience.<\/p>\n<h2>Over the Counter<\/h2>\n<p>DIBPL Home Finance customers can deposit their monthly payments\/rentals \u201cover the counter\u201d at any DIBPL branch through cash or cheque in a dedicated account. Direct Debit Instructions: DIBPL Branch Banking customers can make their monthly rental payments by simply giving direct debit instructions from their account maintained at any DIBPL branch.<\/p>\n<h2>Internet Banking<\/h2>\n<p>DIBPL Branch Banking customers can easily make their monthly rental payments by using Dubai Islamic Internet Banking facility to internally transfer the rental amount from their personal account to the dedicated account.<\/p>\n<h2>Eligibility<\/h2>\n<h2>Customer Eligibility Criteria (Pakistani Residents)<\/h2>\n<p><b>Pakistani National<\/b><\/p>\n<p><strong>For Salaried Individuals:<\/strong><br \/>\nMinimum Age: 25 Years<br \/>\nMaximum Age: 60 Years<br \/>\nMinimum monthly net income of Rs.40,000\/-<\/p>\n<p><strong>For Self Employed Businessmen &amp; Self Employed Professional:<\/strong><br \/>\nMinimum Age: 25 Years<br \/>\nMaximum Age: 65 Years<br \/>\nMinimum monthly net income of Rs.50,000\/-<\/p>\n<h2>Property Eligibility Criteria<\/h2>\n<p>The qualifying property must be located in the following Cities of Pakistan:<\/p>\n<ul class=\"list-unstyled aa-ul\">\n<li>Karachi<\/li>\n<li>Lahore<\/li>\n<li>Islamabad<\/li>\n<li>Rawalpindi<\/li>\n<li>Faisalabad<\/li>\n<li>Multan<\/li>\n<li>Bahawalpur<\/li>\n<li>Sialkot<\/li>\n<li>Gujranwala<\/li>\n<li>Hyderabad<\/li>\n<li>Peshawar<\/li>\n<\/ul>\n<p>The minimum value of the property must be greater than Rs.2,000,000\/-<\/p>\n<h2>Customer Eligibility Criteria (Overseas Pakistani &#8211; UAE only)<\/h2>\n<p><strong>Pakistani National residing in UAE<\/strong><br \/>\nAge 27-60.<br \/>\nMinimum monthly net income of AED.27,000\/-.<br \/>\nSalaried individuals Only<\/p>\n<h2>Documents<\/h2>\n<ul class=\"list-unstyled aa-ul\">\n<li>Copy of primary applicant\u2019s CNIC<\/li>\n<li>Copy of Co-partner\u2019s CNIC, if necessary<\/li>\n<li>2 Passport Size Photographs<\/li>\n<li>Tax Returns<\/li>\n<li>Copy of Utility Bill<\/li>\n<li>Professional Degree (for self-employed professionals only)<\/li>\n<li>Salary Certificate\/Proof of Profession<\/li>\n<li>Latest Salary Slip<\/li>\n<li>Bank statement of the last 12 months &amp; Bank Certificate<\/li>\n<\/ul>\n<h2>FAQ&#8217;s<\/h2>\n<p>[\/vc_column_text][vc_toggle title=&#8221;Who can apply for Home Finance facility?&#8221; el_id=&#8221;1484063024079-5d752fd2-6fed&#8221;]<\/p>\n<ul class=\"list-unstyled aa-ul\">\n<li>Salaried Individual<\/li>\n<li>Self Employed Professional (SEP)<\/li>\n<li>Self Employed Businessman (SEB)<\/li>\n<\/ul>\n<p>[\/vc_toggle][vc_toggle title=&#8221;In how many cities is Home Finance Facility available?&#8221; el_id=&#8221;1484063048453-12c86441-fd22&#8243;]<\/p>\n<ul class=\"list-unstyled aa-ul\">\n<li>Karachi<\/li>\n<li>Lahore<\/li>\n<li>Islamabad<\/li>\n<li>Rawalpindi<\/li>\n<li>Faisalabad<\/li>\n<li>Multan<\/li>\n<li>Bahawalpur<\/li>\n<li>Sialkot<\/li>\n<li>Gujranwala<\/li>\n<li>Hyderabad<\/li>\n<li>Peshawar<\/li>\n<\/ul>\n<p>[\/vc_toggle][vc_toggle title=&#8221;What is the minimum and maximum financing limit available for Home Finance?&#8221; el_id=&#8221;1484063053158-ddfe6a4f-005b&#8221;]<\/p>\n<ul class=\"list-unstyled aa-ul\">\n<li>Home Purchase Rs. 500k &#8211; Rs. 75 Million<\/li>\n<li>Home Renovation Rs. 500k &#8211; Rs. 10 Million<\/li>\n<li>Balance Transfer Rs. 500k &#8211; Rs. 10 Million<\/li>\n<li>Construction Finance : Rs. 500k &#8211; Rs. 50 Million<\/li>\n<\/ul>\n<p>[\/vc_toggle][vc_toggle title=&#8221;Who can be Co-partner?&#8221; el_id=&#8221;1484063052351-7c41955e-2184&#8243;]Only spouse and immediate blood relatives (Son, Father, brother and mother) except daughter &amp; sister, can be co-partners.[\/vc_toggle][vc_toggle title=&#8221;Will my spouse&#8217;s income also be considered in calculating the Finance Burden?&#8221; el_id=&#8221;1484063051958-1f4af5f3-f1f3&#8243;]Yes, your spouse&#8217;s income (Wife or Husband) can be clubbed for finance burden calculation.[\/vc_toggle][vc_toggle title=&#8221;Can a commercial property be financed or not?&#8221; el_id=&#8221;1484063051562-33a8eb61-e4a5&#8243;]<span class=\"Dib_text-2\">As per State Bank\u2019s Regulations for Consumer Financing, only residential property is allowed to be financed under Home Finance product<\/span>.[\/vc_toggle]\n\n\t<div class=\" download_link \">\n\t<a href=\"https:\/\/www.dibpak.com\/wp-content\/themes\/dib\/MGMA%20Branch%20List.xlsx\" class=\"vc_row wpb_row vc_row-fluid\" >\n      <div class=\"d-reports-box \">\n            <div class=\"col-md-9 pl-0 pr-0 float-left\">\n                <h6 class=\"mb-0\">Mera Ghar Mera Ashiana (MGMA) Scheme Branches List<\/h6>\n               <h5 class=\"mt-0\">PDF Download<\/h5>\n            <\/div>\n            <div class=\"col-md-3  pl-0 pr-0 float-left text-right\"><img decoding=\"async\" src=\"https:\/\/www.dibpak.com\/wp-content\/themes\/dib\/assets\/images\/report-img.png\" class=\"mt-2 mr-2\"><\/div>\n        <\/div>\n\t\t<\/a>\n\t\t<\/div>\n\t[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2>Contact Details of the Concerned Personnel\/Representatives<\/h2>\n<p>To know more about the Dubai Islamic Business Finance Products, please call DIBPL Phone Banking at 111-786-DIB (342). You may also visit or contact our dedicated personnel\/representatives at the following address and contact numbers:<\/p>\n<p>City : Karachi<br \/>\nDir Tel : 021-35203674<br \/>\nAddress: : Karim Chambers CL5, 6\/2 Civil Lines Karachi<\/p>\n<p>City : Lahore<br \/>\nDir Tel : 042-5788836<br \/>\nAddress : Gulberg Branch 10K Main Boulevard Gulberg II Lahore.<\/p>\n<p>City : Faisalabad<br \/>\nDir Tel : 041-8555471<br \/>\nAddress : 575-B, Millat Plaza, People\u2019s Colony, Satiana Road, Faisalabad<\/p>\n<p>City : Rawalpindi\/Islamabad<br \/>\nDir Tel : 051-4852081<br \/>\nAddress : 67A Satelitte Town Murree Road Rehmanabad.<\/p>\n<p>For more details, visit our nearest Sales &amp; Service Centre or Branch or contact at 111-786-342 \/ email <a href=\"mailto:cmrcs@www.dibpak.com\">cmrcs@dibpak.com<\/a><br \/>\n[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Looking to buy your dream home? Want to continue your studies? Thinking its time to buy a car? Whatever your wish may be, we want to help you make it come true. There are finance packages designed to meet your needs and with our Internet Banking service, you can manage your finances with a click of your mouse!<\/p>\n","protected":false},"author":3,"featured_media":3503,"parent":56,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages\/2009"}],"collection":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/comments?post=2009"}],"version-history":[{"count":40,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages\/2009\/revisions"}],"predecessor-version":[{"id":62661,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages\/2009\/revisions\/62661"}],"up":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages\/56"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/media\/3503"}],"wp:attachment":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/media?parent=2009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}