|1. Security for Clean Lending|
- Security for loan limit from Rs. 100,000/- to Rs. 500,000/-
Personal Guarantee of the borrower along with net worth statement.
- Security for loan limit from Rs. 500,001/- to Rs. 1,000,000/-
Personal Guarantee of the borrower along with at least one, Third Party guarantor with overall net worth collectively equal to size of the loan applied.
(Third Party should be a citizen of Pakistan and resident of the Punjab having a valid CNIC and must not be older than 55 years. Moreover, e-CIB of third party should be clean i.e. it should not have any overdue or write off history)
Guarantee of Government employee of BS-10 and above alongwith personal guarantee of the borrower.
(Departmental gurantee of the government employee will be mandatory)
Net Worth / Wealth Description and Calculation Criteria:
Net Worth may be in the form of Tangible Asset i.e Property or Vehicle ownership and may be assessed as follows:
A. Property may be valued at respective DC rate.
B. Property valuation may be established from Wealth Tax statement.
C. Evaluation by Pakistan Banks Association (PBA) approved evaluator/agent
D. Vehicle valuation shall be invoice price less depreciation (10% for each passing year).
2. Security for loan limit from Rs. 1,000,001/- to 10,000,000/-
Mortgage of Assets
A. Residential / Commercial / Industrial / Agricultural Property / vehicle having clean title and clear access (acceptable to the bank) and valued by banks approved appraiser as per bank’s policy.
B. The property should be in the name of borrower or blood relative of individual / proprietor / partners.
C. Documentation shall be as per bank credit policy / legal division. Charge / hypothecation on fixed / current assets as per internal / external regulations.