Meezan Bank Easy Home, Mera Ghar Mera Ashiana (MGMA)

Looking for affordable, Shariah compliant housing finance in Pakistan?

Under the Government’s Mera Ghar – Mera Ashiana (MGMA) subsidy, Meezan Bank is offering home financing through its Easy Home product.

Structured on diminishing Musharakah, so you co-own the home with the bank, pay monthly rent on the bank’s share, and gradually buy out that share until you become full owner.

Who can apply?

1. Resident Pakistanis with valid CNICs
2. First time homeowners (no other housing unit in your name)
3. Minimum gross income: PKR 40,000/month
4. Age at maturity: Applicant 20–65* (co-applicant without income clubbing up to 70)
5. Employment: Salaried (6 months in same industry; 1 year if contractual + 2 years total experience) or Self employed (min 2 years in business)
6. Coverage: All cities where Meezan Bank has branches
7. Salaried retirement cap applies (usually 60 years).

How much can you finance?

1. Financing tenure: up to 20 years
2. Property size: up to 5 Marla house or flat up to 1,360 sq ft
3. Property price cap: No limit (subject to bank assessment)

MGMA Tiers (Govt-subsidised rentals)

• Tier 1:
  • Up to PKR 2 million
  • customer contribution 10% of property value
  • 5% rental for first 10 years
  • then KIBOR + 3%.
• Tier 2:
  • Above PKR 2m to PKR 3.5m
  • 10% contribution
  • 8% for first 10 years
  • then KIBOR + 3%.

Meezan’s brochure also shares illustrative monthly payments (PKR 6,600 per month on PKR 1M in Tier 1 during the first 10 years). Actual instalments depend on due diligence and rate resets after year 10.

What can you finance?

1. Easy Buyer: Purchase a ready house/flat/apartment
2. Easy Builder:
   • Type 1(A): Build on your own land
   • Type 1(B): Buy land + construct

Charges & processing

1. Processing charges: NIL (salaried & businessmen)
2. At-actual: Legal report, property valuation and income estimation (business only)
3. Documentation charges apply at Musharakah signing.

Why this scheme stands out

1. Riba free structure with clear ownership path
2. Government backed subsidy lowers rentals for the first 10 years
3. Flexible co-applicants: Up to four immediate family members, moreover, 100% income clubbing allowed
4. Nationwide reach via Meezan’s branch network

Quick checklist to get started

1. CNIC, income proofs, and property papers
2. Check Tier eligibility and own contribution (10%)
3. Visit your nearest Meezan Bank branch to apply under Easy Home – MGMA