Karachi: The State Bank of Pakistan (SBP) has clarified that individuals who do not own a house in their name are eligible to apply for subsidised home financing under the Prime Minister’s Apna Ghar Scheme, making the initiative accessible to a wide range of prospective homeowners.
Speaking at a workshop on the programme, SBP Executive Director for the Islamic Finance Group, Ghulam Muhammad Abbasi, said the scheme is open to applicants from all professions, including journalists, lawyers, judges, policymakers, military personnel, and Overseas Pakistanis.
Abbasi explained that applicants can apply individually or jointly with up to three co-applicants to strengthen their repayment capacity. Older applicants may also apply alongside employed family members, while both salaried individuals and those without formal payslips are eligible, provided they can demonstrate a reliable source of income.
According to SBP, banks have received approximately 107,000 applications since the scheme’s launch in March 2025, with nearly 80% submitted after the programme was revised in September 2025. The updated framework increased the maximum financing limit to PKR 10 million and introduced a 5% subsidised markup for the first 10 years.
So far, more than 27,000 applications have been approved, while around 13,000 were declined. As of June 30, 2026, participating banks had disbursed over 6,000 housing loans worth PKR 26 billion, with the average financing amount standing at PKR 4.8 million.
The government aims to facilitate 150,000 housing loans during FY2026-27 and has allocated PKR 71 billion to support the scheme’s markup subsidy.
Abbasi also noted that no processing fee is charged under the programme. However, borrowers opting for the maximum 20-year repayment period will pay the prevailing market-based interest rate during the final 10 years, after the subsidised period ends.
The PM Apna Ghar Scheme is designed to expand access to affordable homeownership, particularly for low- and middle-income households, while helping address Pakistan’s growing housing shortage through accessible and subsidised housing finance.
