Bank employees helping process housing loans under the government’s Apna Ghar scheme will not be able to use the same facility themselves, as the State Bank of Pakistan (SBP) has barred financial institution employees from applying.

The restriction applies to employees of commercial banks, development finance institutions, and microfinance banks under the Wazir-e-Azam Apna Ghar Program.

The SBP has instructed all banks and other relevant financial institutions to immediately inform their employees about the eligibility restriction.

The clarification comes as these institutions handle housing financing under the scheme for eligible members of the public.

The government launched the Apna Ghar program to make housing finance more affordable through profit subsidies and risk-sharing support. The facility can be used to buy a house, apartment, or plot, or to construct a home on land already owned by the applicant.

The scheme covers houses of up to 10 marla and apartments measuring up to 1,500 square feet.

Eligible applicants can obtain financing of up to Rs. 10 million at a fixed customer rate of 5 percent, with repayment spread over as long as 20 years.

The government provides a markup subsidy for the first 10 years. The scheme also carries no processing fee and allows borrowers to repay early without a penalty.