Raast Roshan Ghar Scheme | Bank of Khyber

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BOK finance for "Home Solar System " under Consumer Finance facility

Brand Name	"Raast Roshan Ghar" Consumer Murabaha Facility
Target Market	Government & Semi Govt. employees Businessmen & self-employed professionals Employees of private sector registered organizations
Eligibility	Minimum monthly Net Income of PKR 25,000/-. Average verifiable net income should be 3 times of proposed facility installment. Age of Client from 22 years to 58 years (65 Years for Businessman)Engaged in business or in service for more than 2 years Holding valid CNIC Clean ECIB report Solar system & its price to be negotiated by borrower directly with BOK's approved vendor. Applicant scoring Credit Risk Rating from 1 to 5 only will be eligible for this facility
Finance Limit	Category A Minimum PKR 50,000/- Maximum PKR 200,000/- Category B Minimum PKR 200,001/- Maximum PKR 500,000/- Category C Minimum PKR 500,001/- Maximum PKR 2,000,000/-
Debt to Equity Ratio	25% to be paid by the customer & remainin 75% to be paid by the Bank to the authorized dealer
Finance Period	6 months to 60 months
Profit rate	profit @09% to 15% p.a Applicalble profit rate shall be as per HO-IBG's monthly circular applicable at the time of transaction
Security	Category A One PG of Grade 17 or above Govt employee. Or One PG of BOK a/c holder maintaining average balance more than facility amount. Category B Two PG of Grade 17 or above Govt employees. Or Two PG of BOK a/c holders maintaining average balance more than facility amount. Category C Mortgage of residential House (as per Bank policy) Or Any other tengible security approved by Group Head. Note: the condition of PGs can be waied in case of Govt. employee drawing salary from a/c with BOK.
Insurance	Client's accidental death Takaful up to finance amount.
Repayment	Through monthly installment and Default Oblegation As per BOK IBG's Schedule of Charges
Early Adjustment	Early adjustment will be considered on case to case basis
Credit Risk Rating	Credit Risk Rating to be approved by BOK Risk Management Division.
Processing fee	As per BOK IBG's Schedule of Charges
Sanction Autority	Head Islamic Asset Division upto PKR 200,000/- Group Head IBG with Head Islamic Asset Division for facility exceeding PKR 200,000/-
Deveations / Exvceptions	As approved Under "MFC" Policy