SBP enhances loan limits to Rs3m
The State Bank of Pakistan (SBP) has enhanced the limits for housing finance and microenterprise loans to Rs3 million from the existing Rs1 million for borrowings from the microfinance banks.
In a statement on Monday, the central bank added that the maximum size of general loans has also been enhanced from Rs150,000 to Rs350,000.
“To commensurate with enhanced loan sizes, the annual income eligibility for general loans and housing loans has been increased to Rs1.2 million and Rs1.5 million, respectively,” it said. The decision to increase the limit was made as the existing loan limit was insufficient to promote low cost housing finance through microfinance banks.
Published in The Express Tribune, August 11th, 2020.
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