Soneri Bank Loan - Soneri Bank Personal Loan - Soneri Bank Car Loan

 Soneri Bank Loan - Soneri Bank Personal Loan - Soneri Bank Car Loan

Mera Pakistan Mera Ghar Loan

Soneri Car Finance Loan

Soneri Ghar Finance Loan

Soneri Personal Finance Loan

Kamyab Jawan Youth Entrepreneurship Scheme

     

Terms & Conditions – Soneri Personal Finance Scheme

Currently only offered in Karachi, Lahore, Rawalpindi, Islamabad, and Hyderabad

Purpose of Finance

To meet personal, domestic, and household needs

Eligible Borrowers

Salaried individuals of approved companies (payroll accounts with Soneri Bank Limited)

Salaried individuals of approved companies (other than payroll accounts)

Financing Amount

 Up to Rs.1 million (up to Rs.2 million for prime customers)

Tenure

1 Year to 5 Years

Markup Rate*

1 Year KIBOR plus 10% (in case of BTF, 2% rate break will be allowed/given)

Monthly Net Take-home Salary

Rs.25,000/- for salaried individuals of approved companies (payroll accounts with Soneri Bank Limited)

Rs.40,000/- for salaried individuals of the approved company (other than payroll accounts)

Length of Service

Min 1 year in current employment or 2 years of continuous employment with permanent status

Age

Minimum 21 years and maximum 60 years at the time of loan maturity

Debt Burden

Total monthly repayment installments not to exceed 40% of the net take-home salary (taking into

account other financing facilities available from different banks/DFIs)

Processing Fee

Rs. 3,000/- (plus FED) or 1% of the finance amount whichever is higher, per approved application. No

processing fee on declined application.

Pre-Payment/Balloon Payment Charges

6.5% pre-payment charges on the principal amount being prepaid

Late Payment Charges

Rs. 925/- (plus FED) per installment per month

Documentation Charges

At actual (Additional 7.50% service charges on the actual cost of stamp papers / adhesive stamps)

Other Charges

Digital External Verification Charges: At current

eCIB Report Charges: At current

Issuance of Loan Balance Certificate: Rs.350/- (plus FED)

Personal Life Insurance

Free of cost, up to outstanding finance amount

 

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All Pakistani residents, aged between 21 and 45 years with entrepreneurial potential are eligible to apply for the loan. For IT/ E-Commerce related businesses, the lower age limit is 18 years. Youth Entrepreneurship Scheme is for both startups and expansion of existing businesses across Pakistan. Loan applications have to be submitted online (hyperlink) only through our website.

Loans provided under YES are segregated into 3 tiers.

Tier 1

The range is 100,000 up to 1 million PKR with a 3% markup. No Security is required for a loan in this tier.

Tier 2

The range is above 1 Million up to 10 Million PKR with a 4% markup.

Tier 3

The range is above 10 Million up to 25 Million PKR with a 5% markup.

Eligibility Criteria / Target Market

Men/Women aged between 21 & 45 years with entrepreneurial potential

For IT/E-Commerce related businesses, the lower age limit will be 18 years

25% will go to women borrowers

All sectors and products, including agriculture, are eligible.