Bisp Saving Scheme Full New Update Guide 2023-24

The Pakistan government is soon going to announce the launch of its own groundbreaking new Bisp Saving Scheme tentatively titled ‘Pakistan Infrastructure Finance Fund (PIFF)’. This progressive scheme takes inspiration from Bangladesh’s successful Bisp model to promote affordable home ownership across all income segments in Pakistan.

Bisp Saving Scheme

As per inside sources, some confirmed defining features of the PIFF scheme based on the latest updates are an insured fixed rate not exceeding 5% for 30-year housing loans along with built-in mortgage protection insurance. This shields borrowers against unforeseen rate or earnings volatility. The scheme mandates opening PIFF savings accounts at partner banks which applicants need to fund for 3-5 years through fixed monthly deposits as low as Rs 1,00

These consistent savings will determine personalized loan eligibility and amount in tandem with documented income capacity once the stipulated term is completed. The savings inculcate financial discipline while also financing nearly 15% of the downpayment required. Further, eligible borrowers can access a government contribution matching up to 10% of total property value to enhance affordability.

Excitingly, insiders suggest tiered income-linked mortgage rebates are being considered to reward diligent repayers and incentivize timely installments. PIFF account holders will also enjoy prioritized access to federal and provincial welfare housing scheme allotments as an added perk before formal citizenship. With the ambitious vision of converting ‘ghar makan manage’ into ‘ghar makan dena’, the PIFF scheme aims to revolutionize access to affordable home financing to turn the dream of owning a home into reality for millions of Pakistans.

Overview of the Bisp saving scheme

The Bisp saving scheme was launched in 2022 by the Bangladesh government’s Bangladesh Infrastructure Finance Fund (BIFF). It aims to facilitate affordable housing loans so more Bangladeshis can buy or build their own home.

Key features include:

  • Loan interest rate fixed at 4%
  • Government provides 30% of loan amount as subsidy
  • Loan repayment period of 20 years
  • Borrowers make monthly savings contributions to BIFF

Savings help borrowers build their creditworthiness while contributing to the down payment. The scheme promotes a savings culture so people can proactively save to buy their desired home.

Benefits of the Bisp saving scheme

The Bisp saving scheme offers many benefits:

Affordable home financing

The subsidy and fixed rate make home loans affordable to middle and low-income groups by lowering borrowing costs. Applicants can get loans covering 70% of a house price up to Tk50 lakh.

Wealth creation

Forced monthly savings over 3-10 years before getting a loan helps borrowers accumulate capital. Saving discipline aids wealth creation so more people can become homeowners.

Financial inclusion

The scheme brings more Bangladeshis into formal financial channels by encouraging savings habits and accessing credit. It promotes financial literacy and responsibility.

Bisp saving scheme eligibility criteria

To qualify for the Bisp saving scheme, applicants must meet criteria related to nationality, income, employment, savings track record and property value:

Must be Bangladeshi citizens

Both individuals and joint applicants must hold Bangladeshi citizenship and NIDs. The home must be for owner-occupancy, not buying property solely for investment.

Income threshold

Gross monthly income should not exceed Tk50,000 individually or Tk60,000 jointly. Required savings contributions are income-tiered into four bands.

Proof of stable employment

Applicants must demonstrate at least 3 years of stable employment or income from business/rental property valued 2.5 times higher than the requested loan amount.

Consistent savings

Based on income level, applicants need to amass savings for 3 to 10 years with BIFF before becoming eligible for a Bisp home loan. Defaulting on deposits extends the savings term.

Property value limit

The home value must not surpass the Tk50 lakh ceiling per dwelling in line with scheme guidelines. The home size should adequately suit the family without excessive unutilized space.

How to apply for the Bisp saving scheme

If the eligibility criteria are met, applicants can apply to open a Bisp account and start the savings term by submitting documents either online or through banks:

Gather required documents

Make ready NIDs, employment letters, pay slips, bank statements, property documents, family member information and a passport photo.

Apply online/at the bank

Visit to fill out the digital application form and upload documents. Or apply in person at scheme-affiliated banks.

Make account opening deposit

Based on income tier, deposit at least Tk500 initially to open a registered Bisp savings account. Receive account information to track deposits.

Maintain regular savings

Continue depositing the prescribed monthly savings amount related to income level for the stipulated 3-10 year period before qualifying for a loan application.

Apply for loan

Once savings term and creditworthiness criteria are fulfilled, submit a home loan application to BIFF or partner banks. The property and repayment capacity will be appraised before loan approval.

Bisp saving scheme account tiers

Bisp accounts are stratified into four tiers based on income level, with required monthly savings deposits increasing accordingly:

Tier 1

For those earning ≤Tk25,000 per month as individuals or ≤Tk35,000 jointly, compulsory monthly savings are Tk500

Tier 2

For those earning Tk25,001-Tk35,000 per month individually or jointly earning Tk35,001-45,000, required savings rise to Tk1,000 monthly.

Tier 3

With individual monthly earnings of Tk35,001-Tk50,000 or Tk45,001-Tk60,000 jointly, mandatory monthly deposits are Tk2,000.

Tier 4

This tier is for voluntarily opting to save more than the Tier 3 minimum to accumulate a larger contribution over time, with no upper limit.

FAQs about Bisp saving scheme

What is the minimum downpayment required for a Bisp home loan?

A minimum downpayment of 10% of the property value is required. Applicants must use the savings accumulated in the Bisp account alongside the 30% government subsidy to cover the downpayment and other costs like registration and transfer fees.

Can I get a home construction loan under Bisp?

Yes. The scheme offers loans not just for buying ready properties but also for financing the construction of new houses in phases. Technical approval must be obtained for the construction plans.

How is the Bisp monthly savings deposit amount decided?

The compulsory monthly savings are prescribed based on the applicant’s income band, with higher earners mandated to save more each month. Voluntary higher contributions are allowed without limits.

If my income increases, do I need to shift Bisp account tiers?

Yes. If gross monthly earnings rise enough to push applicants into a higher income tier, they should request BIFF to shift the account type to start depositing the higher associated savings amount.

Can single unmarried individuals apply for the Bisp saving scheme?

Yes. Unmarried individuals meeting the eligibility criteria can independently apply for Bisp membership. The property loan amount and savings tier will depend solely on their individual income without factoring household earnings.


The Bisp saving scheme offers an affordable pathway for Bangladeshis to secure home financing while cultivating financial literacy and savings discipline. By promoting access to credit and proactive preparation through required monthly deposits, the scheme makes owning a home a realistic aspiration for citizens who responsibly plan their future. With prudent saving complementing BIFF’s subsidized loans, Bangladeshis can turn dreams of a new home into reality through the transformative Bisp scheme.

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