Bangladesh Real Estate Apartment loan at 9% interest rate under Bangladesh Bank’s Housing Loan Refinance Scheme.
Bangladesh Bank's Housing Loan Refinance program in now getting responses after the central bank relaxed some conditions of the scheme in May this year.
In May 15, 2008 the Bangladesh Bank has reduced the interest rate to 9 percent from 10 percent and raised the monthly income ceiling of borrowers at Tk 50,000 from Tk 30,000.
Bangladesh Bank in the financial year 2007-08 launched the Tk.300 crore Housing Loan Refinancing Scheme for housing loan. But only Tk.7.79 crore was disbursed by the banks between July 2007 and April 15, 2008 out of Tk.100 crore earmarked for the fiscal period 2007-08.
But on June 30, 2008, the refinancing figure stood at Tk.46.34 crore. According to Bangladesh Bank’s Statistics of the Tk.46.34 crore, Delta Brac Housing Finance Corporation Ltd (DBH), alone disbursed Tk.31.10 crore. The other major lenders are Industrial Development Leasing Company (IDLC) disbursed Tk.4.55 crore, Peoples Leasing and Financial Services Ltd disbursed Tk.3.87 crore and Mercantile Bank Ltd. disbursed Tk.1.11 crore.
According to the revised policy, any person with a monthly income of less than Tk.50 thousands will only be eligible to get the housing (real estate apartment) loan upto Tk.20 lakh from 15 commercial banks and non-bank financial institutions either for buying or constructing an apartment of maximum 1,250 square feet in six divisional cities along with Tongi, Gazipur, Narayanganj and Savar areas.
The scheme has barred government employees and others who are entitled to housing loans from their respective organizations from receiving the special housing loans and if a person has already taken housing loans from a bank or financial institution will also not be considered under the scheme.
Tuesday, July 15, 2008
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