اردو

Easy loans for all your financial needs
Salary Loan is a term finance loan based on the amortization concept with fixed monthly installments/repayments. The salary Loan facility would enable customers to bridge their financial shortcomings for the purpose of going on vacations, arranging children’s weddings, paying for children’s education, and other general expenses.

LOAN TENURE

Minimum: 1 year to Maximum  4 years

REPAYMENT

Equal monthly installments

LOAN AMOUNT

  • Up to 1 Million or 15 take home salaries whichever is less*(Employees of multinational companies & local Private sector)
  • Up to 2 Million or 20 take-home salaries whichever is less *(Govt. Employees/Employees of Armed Forces/local government bodies)

bill payment

MARK-UP

Female Borrowers & Persons with Disabilities (PWDs) : *1-Yr KIBOR + 6% p.a.
Male Borrowers: 1-Yr KIBOR + 7% p.a

HOW TO APPLY

Visit any nearby branch and apply.
*Terms and conditions applied

Your monthly
installments will be just
PKR
50000
Pricing (%)

What are the minimum and maximum loan amounts?

Minimum Rs. 50,000/-& maximum Rs 2,000,000/-according to the eligibility, income and debt burden of customer.

What is the tenure of the loan?

The loan can be repaid over a period of 1 to 4 years.

Do I have to be a certain age to be eligible for a Loan?

The eligible age for a salary loan is between 21 to 60 Years.

What type of loan is this?

It is term finance. You have to repay in equal monthly installments.

What is the fee for a salary loan processing?

The processing fee will be charged as Rs. 2,000 or 1.25 %of the loan amount (whichever is higher) plus, Federal Excise Duty (FED).

Can I prepay my FWBL loan installment?

Yes. You can re-pay the outstanding loan amount plus accrued mark up with 1% pre-payment charges of the outstanding loan amount at any time before maturity of the loan.

What if I pay my monthly instalment late?

Late payment charges up to Rs. 500 flat per instalment will be applicable.

Is there any hidden cost involved?

No, there are no hidden costs involved. All charges are clearly mentioned in the Schedule of Bank Charges available at all FWBL branches.

What is the debt burden requirement for a salary loan?

40% of net disposable income.

Do I have to provide security, collateral?

No security is required to take out a salary loan.

What is EMI?

EMI stands for "Equal Monthly Installments”. It includes both the principal and the mark-up.

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