Rihayesh Finance

Owning a house is a dream that everyone aspires to achieve in their lifetime. Being mindful of this important need of our valued customers, MCB Islamic Bank offers Riba Free housing finance solution designed to fulfill residential needs of individuals.


Shari’ah compliant financing solution to Individuals to acquire property for private dwelling / residence purposes through the following ways; mode of Islamic finance is ‘Diminishing Musharakah’:

  • Home Purchase: Purchase of ready / constructed property.
  • Home Construction: Construction of house on land owned by customer(s) (finance disbursed in tranches).
  • Home Renovation: Renovation / improvement of existing house (finance disbursed in tranches).
  • Plot Purchase Plus Construction: Purchase of land / plot and construction on it (finance disbursed in tranches).
  • Balance Transfer Facility: Balance transfer of existing housing facility of customer(s) from other Banks/DFIs
Eligibility Criteria:
  • Applicant(s) must be Pakistani Resident Nationals.
  • Minimum monthly net salary of PKR 60,000/- for Salaried Individuals and minimum monthly net income requirement of PKR 100,000/- for Self-Employed Individuals.
  • Minimum Age Requirement: 25 years for Primary Applicant (22 years for Joint-Applicant).
  • Maximum Age Requirement (at finance maturity): 65 years for Primary Applicant (70 years for Joint-Applicant).
  • Employment / Business Length: Minimum 2 years employment (Salaried) and 3 years length of business (Self-employed).
Eligibility Criteria for Foreign Remittance Beneficiaries and Non-Resident Pakistanis:
  • Only financing for Home Purchase (HP) can be jointly extended to individuals who are:
    1. Foreign Remittance Beneficiaries (as Primary Applicants) who are receiving remittance in their names; and
    2. Non-Resident Pakistanis (NRPs) / Remitters of Foreign Remittance (as Joint Applicants) to the individuals who are Foreign Remittance Beneficiaries.
    3. Primary Applicant(s) must be Pakistani Nationals.
    4. Non-Resident Pakistanis (NRPs) must be MCB Islamic account holders.
Targeted Customers:

Primarily self-employed businessmen / salaried individuals / foreign remittance beneficiaries & non-resident Pakistanis (NRPs).

  • Finance up to PKR 60 Million for Home Purchase, PKR 30 Million for Home Construction, PKR 20 Million for Home Renovation, PKR 60 Million for Balance Transfer Facility and PKR 60 Million for Plot Purchase Plus Construction.
  • Finance Tenure from 2 to 20 years.
  • Finance up to 70% of the assessed value of the property for Self-Employed Businessmen / Professionals and for Salaried Individuals.
  • Option of having Joint-Applicants (Co-Applicants) as income clubbers and/or property title holders.
  • Equal Monthly Installments
  • Competitive variable profit rates, i.e.:(a) 3 Month KIBOR + 4.0% for cases where Primary Applicant is a salaried individual; and (b) 3 Month KIBOR + 4.5% for cases where Primary Applicant is a non-salaried individual.
  • Property Takaful coverage.
  • Competitive Takaful rates.
  • Options for early buyout (early settlement) either partially (to reduce monthly installment) or in full (as per Schedule of Bank Charges).
General Terms & Conditions:
  • Information regarding availed loans from other financial institutions should be authentic.
  • Personal information should be valid.
  • Satisfactory verification checks of applicants and collateral property.
  • Bureau reports regarding repayment history of all applicants should be unambiguous, positive, and satisfactory.
  • Income estimation through bank’s approved income estimation agencies.
  • Satisfactory income estimation, property valuation, and legal opinion.
  • The collateral property shall be evaluated by Bank’s approved evaluation agencies.
Minimum Documentation:
  • Copy of valid and original CNIC / SNIC / NICOP.
  • 2 passport size recent colored photographs.
  • Bank statement (12 months)
  • Declaration of all financing facilities availed from all financial institutions.
  • Income documents.
  • Business / employment proof.
  • Copy of property documents.
  • Any other document required by the Bank.
Additional documentation required in case of Foreign Remittance Beneficiaries and Non-Resident Pakistanis:
  • 12 months bank statement showing narration relevant to receiving of remittance OR remittance receipts covering a period of 12 months.
  • Valid work permit / Iqama of the remitter or any other document of such nature.
  • Valid passport copy of remitter (holding valid work visa).
  • Any document showing applicant relationship with the remitter.

Karachi, Lahore, Islamabad and Rawalpindi.

Contact Us:

All existing customers can contact our representative on the below help line numbers;
Email: [email protected]
Phone Number: 042-36282452