Mera Ghar Mera Ashiana Scheme by State Bank of Pakistan offers subsidized Islamic home financing for first-time buyers. Check eligibility, tiers, rental rates, documents, and how to apply.
Mera Ghar Mera Ashiana Scheme (MGMA) Easy Home Islamic Housing Finance 2025
Easy Home – Mera Ghar Mera Ashiana Scheme (MGMA) is a subsidized Islamic housing finance program introduced by the Government of Pakistan to promote affordable home ownership for first-time buyers. The scheme is offered by State Bank of Pakistan under its flagship Islamic home financing product, ensuring 100% Shariah-compliant financing through the Diminishing Musharakah model.
This program helps Pakistani citizens buy or build a house with low rental rates, long tenure, and government profit subsidy.
What is Mera Ghar Mera Ashiana Scheme?
The Mera Ghar Mera Ashiana Scheme (MGMA) is a government-backed housing finance initiative designed to make home ownership affordable for low and middle-income families.
Under this scheme:
- The government provides profit subsidy
- The bank shares financing risk
- Customers get low rental rates for the first 10 years
Meezan Bank and other Banks offers this facility under Easy Home – MGMA, ensuring complete Shariah compliance.
Islamic Financing Mode in Mera Ghar Mera Ashiana Scheme
The MGMA scheme follows Diminishing Musharakah, where:
- The bank and customer jointly own the property
- The bank leases its share to the customer
- The customer gradually purchases the bank’s share
- At the end of the tenure, the customer becomes full owner
This structure avoids interest and follows Islamic principles.
Product Features & Benefits of Mera Ghar Mera Ashiana Scheme
Key Benefits
- Government-subsidized rental rates
- Up to 20 years financing tenure
- Low customer contribution (only 10%)
- Applicable across Pakistan
- Fully Shariah-compliant financing
- No processing charges
MGMA Financing Tiers & Rental Rates
| Tier | Maximum Financing | Customer Contribution | Rental Rate |
|---|---|---|---|
| Tier 1 | Up to PKR 2 Million | 10% of property value | 5% for first 10 years, then KIBOR + 3% |
| Tier 2 | PKR 2M – 3.5M | 10% of property value | 8% for first 10 years, then KIBOR + 3% |
Financing Tenure & Property Limits
- Maximum tenure: 20 years
- House size: Up to 5 Marla
- Flat size: Up to 1,360 sq. ft.
- Maximum property price: No cap
Who Can Apply for Mera Ghar Mera Ashiana Scheme?
Basic Eligibility Criteria
Citizenship
- Resident Pakistani nationals
- Valid CNIC required
First-Time Home Owner
- Applicant must not already own a house
Collateral Requirement
- The financed property will be mortgaged in favor of the bank
Note: Negative credit history appears in e-CIB for 2 years after settlement as per SBP rules.
Monthly Income & Age Requirements
| Criteria | Details |
|---|---|
| Minimum Income | PKR 40,000 per month |
| Applicant Age | 20 to 65 years (or retirement age) |
| Co-applicant Age | Up to 70 years (without income clubbing) |
Employment & Business Requirements
For Salaried Individuals
- Permanent job with 6 months continuous employment
- Contractual job requires 1 year employment + 2 years experience
For Business / Self-Employed
- Minimum 2 years in current business
Co-Applicant & Income Clubbing
- Up to 4 co-applicants allowed
- 100% income clubbing permitted
- Co-applicant must be:
- Spouse
- Parents
- Adult children
- Siblings
Buy or Build House Under Mera Ghar Mera Ashiana Scheme
Buy a House – Easy Buyer
- Purchase of constructed house, flat, or apartment
Build a House – Easy Builder
- Type 1(A): Construction on own land
- Type 1(B): Purchase of land + construction
Processing Charges & Fees
| Charges | Salaried | Business |
|---|---|---|
| Processing Charges | NIL | NIL |
| Legal Charges | At Actual | At Actual |
| Property Valuation | At Actual | At Actual |
| Income Estimation | N/A | At Actual |
Also Check
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https://pakgovschemes.pk/apni-zameen-apna-ghar-program-2025-applynow
Documentation Required – Salaried Individuals
- Application Form with CF Undertaking
- Valid CNIC (Applicant & Co-applicant)
- Passport size photographs
- First-time homeowner undertaking
- Property title/allotment documents
- Employment letter or certificate
- Salary slip or salary certificate
- 6-month bank statement with salary credits
Documentation Required – Business / Self-Employed
- Application Form with CF Undertaking
- CNIC & photographs
- First-time homeowner undertaking
- Property documents
- Proof of business (NTN, partnership deed, rent agreement, etc.)
- Professional degree or license (if applicable)
- 6-month stamped bank statement
Cities Covered Under MGMA Scheme
- Available in all cities of Pakistan
Why Choose Meezan Bank Easy Home MGMA?
- Pakistan’s leading Islamic bank
- Government-backed subsidy
- Transparent and Shariah-compliant process
- Affordable rental rates
- No processing fee
Frequently Asked Questions (FAQs)
1. What is Mera Ghar Mera Ashiana Scheme?
It is a government-subsidized Islamic housing finance scheme for first-time home buyers.
2. Is MGMA scheme interest-free?
Yes, it is Shariah-compliant and based on Diminishing Musharakah.
3. Who offers MGMA financing?
Meezan Bank offers this scheme under Easy Home MGMA.
4. What is the maximum loan amount?
Up to PKR 3.5 million.
5. What is the minimum income requirement?
PKR 40,000 per month.
6. Is processing fee charged?
No, processing charges are NIL.
7. Can I apply if I already own a house?
No, the scheme is only for first-time homeowners.
8. Can business owners apply?
Yes, self-employed and business persons are eligible.
9. What is the maximum tenure?
Up to 20 years.
10. Can family members be co-applicants?
Yes, immediate family members are allowed.
11. Is land purchase allowed?
Yes, under Easy Builder Type 1(B).
Final Words
The Mera Ghar Mera Ashiana Scheme is a golden opportunity for Pakistani citizens to own their first home through affordable Islamic financing. With government subsidy, low rental rates, long tenure, and zero processing fees, Meezan Bank Easy Home MGMA stands out as one of the best housing finance options in Pakistan today.
If you dream of owning a home without compromising Islamic principles, MGMA is the right choice.
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Source & Authority Note
This article is published by Pakgovschemes.pk, an independent informational platform that covers verified Government welfare schemes in Pakistan. Information is compiled from official Government Portal for public awareness only.
Disclaimer
Pakgovschemes.pk does not offer registrations, forms, or application services. Applicants should always apply through official Government portals only. We do not collect CNIC numbers or personal data.