State Bank Launches Dedicated Landing Web Page
KARACHI: The State Bank of Pakistan (SBP) on Friday launched a dedicated referral web page, https://www.sbp.org.pk/hcf/index.html, on promoting housing finance and construction on its website.
The page has detailed information on housing and construction finance and on Mera Pakistan Mera Ghar (MPMG), the government’s flagship markup grant program for affordable and low-cost housing finance.
The web page provides information on various measures taken by the central bank to promote housing and construction finance, such as the publication of separate prudential regulations for housing finance, the establishment of a high-level steering committee, the assignment of mandatory targets for housing and construction finance, incentives and penalties, and market facilitation.
In addition, a dedicated MPMG webpage, https://www.sbp.org.pk/MPMG/index.html, is also available to facilitate potential applicants who intend to qualify for housing finance in the framework of MPMG.
The MPMG page covers complete information about the program, including eligibility criteria, loan term, maximum loan amount, mark-up rates to be charged, maximum list of documents required and the grant provided by the government. .
Through this page, potential applicants can also directly access the websites of participating banks; in which, loan application forms under different categories are available.
A loan repayment schedule and installment calculator are also available on this web page.
The webpage also shares monthly data on housing and construction finance extended by banks. The progress made under MPMG in terms of the most recent statistics, including data on amounts applied, approved and disbursed under MPMG on a monthly basis, is also available on the MPMG web page.
Visitors will also be able to view testimonials from actual borrowers who have benefited from subsidized housing finance under MPMG by visiting the website.
It is expected that this dedicated web page will facilitate visitors by providing them with actionable information, advice and support they need for easy access to funding under MPMG.