Overview:
A Government of Khyber Pakhtunkhwa and The Bank of Khyber initiative to improve tourism in Khyber Pakhtunkhwa by facilitating the local residents through access to finance and business awareness, develop culture of Homestay for economic development of the local residents, and reduce load on available hotels.

Particulars

Key Features

Target Areas

Districts of Mansehra, Abbottabad, Swat, Upper Dir, Lower Dir, and Chitral (Upper and Lower). 

Specific Target Areas

Mansehra Beyond Kaghan

Abbottabad [Galiyat]

Kumrat, beyond Shirengil

Chitral (Upper & Lower)

Swat Beyond Bahrian

Laram Top Dir Lower.

Purpose of the Loan / Financing

Construction of new Room(s) on own piece of land.
Addition of room and/or bathroom etc. in the existing house.
Renovation & up gradation of existing facility

Financing Limit

Maximum up to 03 million for constructed/ renovation depending on requirement of the person to be determined by Bok. 

Facility Type

Qarz-e-Hasana (loan)

Facility Tenor

Up to 05 Years with a maximum grace period of up to One Year.

Profit Rate

Riba Free (end user applicable rate is 0%)

Security Requirements

Personal Guarantee of Government employee up to BS-16
(One Guarantor cannot guarantee more than two cases).  
Or
Mortgage of Property equal to loan amount.

Eligibility Criteria 

·   A permanent resident of concerned area.

·   Having a valid Computerized National Identity Card.

·   Age Limit: 20-55.

·   Having entrepreneurial potential.

·   Resident of the selected area having their own home with basic amenities and required security as per criteria. The Potential applicants shall have a reasonable education level (preference shall be given to educated family).

·   Female entrepreneurs are encouraged to apply. 

·   Maximum up to 02 Rooms will be constructed/ renovated depending on requirement of the person.

Disbursement of Loans

Loans will be disbursed in Tranches as per below detail:
Construction Type (Maximum Completion Time 6-12 months)

-       20% advance (1st tranche) 

-       30% (up to DPC level, 2nd tranche) 

-       30% (up to lintel level, 3rd tranche) 

-       20% work done (4th tranche) 

Renovation type (Maximum Completion Time: 3-6 months)

-       40% advance (1st tranche) 

-       40% after utilization and assessment of the first tranche by the committee.

-       20% work done (3rd tranche)

Application Form

The forms will be readily available both in branches and through BoK Website https://www.bok.com.pk/maizban-tourism