Here’s the good news for the married couples, they can now conjointly work up and acquire loans for their house, cars, computers and generators from any commercial banks.
The state bank of Pakistan has given away statement to the banks to consider the salaries of the couples for their loan and investment needs.
It is a simple, easy way for a family to maintain and balance their regular income and expenditures.
SBP has also directed banks to be careful while performing the income assessment for the following:
- non-salaried couple
- non-salaried spouse
- entrepreneur spouse
due to low interest rate the banks are now facilitating the consumers with such an opportunity.
The banks are required to expose the important terms, conditions, fees, charges and penalties, which interalia include Annualized Percentage Rate, prepayment penalties and the conditions under which they apply.
The bank can give away for about 2 million to a consumer for his /her needs of incomes. The bank is also required to ensure that the money is being used for the secured purposes!
the banks/DFIs are encouraged to take insurance / takaful cover against wrongly charged amounts, frauds, etc
somehow the regulators have blacklisted certain professions such as freelancers, lawyers, media persons, and areas of different cities.
