BankIslami offers lowest home financing

KARACHI: BankIslami is offering the lowest financing solution at the one-year Karachi Interbank Offered Rate (Kibor) plus 1.0 per cent to provide customers with an affordable and transparent path to homeownership, a statement said on Friday.

Under this initiative, BankIslami’s home financing solution features special profit pricing, allowing customers to avail home financing at an exclusive rate of 1-year Kibor plus 1.0 per cent. It also includes a spread fixed for three years, ensuring stability and predictability for its customers. After the first three years, standard pricing will be applied: Kibor plus 2.0 per cent for salaried individuals and KIBOR plus 3.0 per cent for self-employed professionals.

Rizwan Ata, president and CEO of BankIslami, commented at the launch: “At BankIslami, we are dedicated to saving humanity from riba and advancing Islamic banking practices that empower our customers. Our home financing solution is designed to offer accessible and ethical financial services, making homeownership a reality for more Pakistanis while aligning with their values.”