Home Loan Banks & Housing Finances in Bangladesh

Nowadays, almost everyone is looking for Home Loan. There are several Home Loan Banks and Housing finance organizations in Bangladesh that provide home loans, home owner loans. Here is a list of most esteemed and reliable organizations that provide Home Loan and Housing finance Services in Bangladesh. The featured organizations are:

Delta Brac Housing Finance Corporation (DBH).,

HSBC Bank,

IDLC Financing Ltd,

Standard Chartered Bank,

Eastern Bank.

 

Delta Brac Housing Finance Corporation Ltd. (DBH):

Home Loan Counselling: DBH home loan counselors offer you the specialist advice.  

Be it legal documentation, project or builder approvals, and technical advice, they look forward to sharing with you and this service is absolutely free. DBH project approval facility provides customers the comfort of purchasing properties from builders who have complied with all basic documentation.

Free Door Step Service: DBH offers door step service. Please call for DBH Sales Executive to assist you or get in touch with the DBH Office near you. DBH help you find your dream home. DBH can provide you with the list of property available at the preferred location of any specific developer. And the service is absolutely free.

You can buy, sell residential properties through DBH Property Services. DBH provides legal documentation services related to property transaction.

Wide Product Range: DBH provides loans to meet all your requirements for you to make that house a home. Apartment Loan, Home Construction Loan, Housing Plot Loan, Home Improvement Loans, Home Extension Loans, Loans to professionals for chamber purchase, Home Owner’s Loan (Loan Against Property).

* Loans on Adjustable Rate, Fixed Rate.
* Loan Protection Insurance
* Multiple Repayment Option (Flexi Plus Home Loan)

Step Up Repayment Facility: Helps young executives take a much bigger loan today based on an increase in their future income, this helps executives buy a bigger home today!

Flexible Loan installments Plan: Often customers, parents and their children, wish to purchase properties together. The parent is nearing retirement and their children have just started working. This option helps such customers combine the incomes and take a long term home loan where in the installment reduces upon retirement of the earning parent.

Network of financing: DBH is able to provide home loans in Dhaka, Chittagong and Sylhet. You can apply at your local DBH office for properties in locations where we finance.

Post Disbursement Services: Income tax Certificate of the latest income year to enable you to claim the tax benefits can be supplied to you upon request from you. This service is absolutely free.

Security: Registered Mortgage of the property financed. Additional/alternate collateral security may be required on a case to case basis.

How to Apply: Complete Application to be submitted in the prescribed application form of DBH, to any of the DBH offices in Dhaka, Chittagong or Sylhet.

HSBC Bank Home Loan:

A home for you and your loved ones must be one of the most treasured dreams in your life. With competitive rates, convenient features and simple procedures, Home Loan from HSBC will enable you to turn your dream into reality.

Home Loan Features

Loan amount of BDT 750,000 - BDT 10,000,000
Maximum loan amount of 80% of the property valuation, inclusive of registration cost
Financing for the registration cost
Clubbing of income amongst spouse, father and son/daughter, mother and son/daughter is possible
Competitive interest rates on a monthly reducing balance
Loan tenure of 5 - 25 years (prior to borrowers age reaching 60 years)
The age of the property must not exceed 20 years of age
Apartments under construction is also applicable for Home Loan facility
As a customer, you also have flexibility to buy apartment under construction subject to the terms and conditions as applied by the Bank
Partial or early settlement facilities
No personal guarantee or cash security

Eligibility

Age: At least 23 years
Professional Experience:
- Salaried: Employed for at least 2 years by a well-reputed organization
- Self employed: Professional experience or business establishment for at least 2 years (with adequate proof)
Minimum Monthly Income:
- Salaried: BDT 40,000
- Self Employed: BDT 50,000

What security documentation do you require

Mortgage and original title deed
Property insurance covering fire, earthquake, flood, and cyclone
Irrevocable General Power of Attorney (IGPA)

How do you repay: Loan repayment can be made in the form of monthly instalments. You have the flexibility of choosing a convenient repayment period between 5 and 25 years. Your monthly instalment will be automatically debited from your personal account with HSBC. Interest is calculated on a monthly reducing balance as opposed to an annual reducing balance, giving you a lower monthly instalment amount with HSBC.

How do you apply: Just drop by at your nearest HSBC branch or customer service centre or contact our Call Centre for more information. We will be happy to help you with your queries. Talk to HSBC and turn your dream into reality!

*Notes: Terms and conditions apply. Applications are approved at the sole discretion of HSBC

Need to know more: Call now on 01199 88LOAN (5626), 01199 88HSBC (4722)

IDLC Financing Ltd. Home Loan:

The leading home loans provider in the country offers you the most convenient home loans to suit your needs. With so many attractive benefits, the home you always wanted is no longer a dream.

BENEFITS
Equal consideration for all applications irrespective of any professions
Dedicated and supportive service both before and after disbursement
Option to choose either Fixed or Variable rate of interest
Loan sanction within shortest possible time and also before starting construction of the building or purchase of the apartment
Early pre-payment option either in part or full with convenient conditions
Income tax rebate on yearly interest payment on home loan up to Tk 2 million
Municipality holding tax rebate
Maximum loan offering to Non Resident Bangladeshi (NRB)
Competitive interest rate and lower fees


HOME LOANS AVAILABLE FOR
Purchase of apartment/ house/ commercial space/ approved housing plots
Construction of residential/ commercial building
Renovation or extension of residential house
Home Equity loan against mortgage of property
Home Loan under Bangladesh Bank Refinancing Scheme (@ 9% p.a.)


ELIGIBILITY
You are eligible if you are:
25 years and above but not more than 60 years of age
Earning regularly from a sustainable source of employment or business


FACTORS AFFECTING YOUR LOAN AMOUNT
The home loan amount depends on your repayment capability. A number of factors are such as monthly net disposable income, age, qualifications, value of the immovable property, number of family members and dependants, monthly expense, other fixed obligations, nature of job / business and savings habit are taken into considerations.

Residential Purpose: 70% of the purchase price including registration cost or 80% of the construction cost of residential house.
Commercial Purpose: 70% of the purchase price including registration cost.


LOAN TERM
Residential Purpose Category Maximum Term Maximum Age
Professional & Service Holders 20 years 60 years
Businessmen 15 years 60 years
Non Resident Bangladeshi (NRBs) 10 years 60 years
Commercial Purpose: For any profession, maximum 7 years


REPAYMENT MODE
The entire loan to be repaid by Equated Monthly Installments (EMI)


SECURITY
Mortgage of the property itself or any other equivalent security acceptable to IDLC.


INTEREST RATE & FEES
We offer you a competitive interest rate and low fees. We set individual rates on the basis of a customer's financial status, amount borrowed and repayment terms. Please contact any of our branch offices for current rate & fees.


PROPERTY INSURANCE
Mortgaged asset should have fire or earth quake insurance by any IDLC nominated insurance company.


HOW TO APPLY
Just feel free to call or visit any of our branch offices and collect the home loan application form free of cost. Our officers are waiting to serve you. Just visit our office or call today !


DOCUMENTATION REQUIRED
a. Employed
Recent passport size photo, copy of National ID Card and Bio data
Latest salary slip/salary certificate
Bank statement for one year
Statements of assets with copies of evidence
Evidence of other income (if any)
CIB Application Form
Allotment agreement with developer/ owner
Money receipts of amount already paid to developer/owner


b. Self Employed
Recent passport size photo, copy of National ID Card and Bio data
Tax assessment paper for last 3 years (Tax return & Assessment order)
Profit & Loss account and Balance sheet of business for last 3 years
Evidence of presents work in hand and value
Bank statement for the last one year
Statement of assets with copies of evidence
Evidence of other income (if any)
CIB Application Form
Allotment agreement with developer/owner
Money receipts of amount already paid to developer/owner


POST DISBURSEMENT SERVICES
Income Tax Certificate to enable you to claim the tax benefits is given to you free of cost.

Standard Chartered Bank Home Loan:

Standard Chartered Home Loan provides attractive financing for a new house or an apartment. You can also avail our Home Loan for renovation, facelift, extension and furnishing work in your existing house or apartment.

Special benefits
Very attractive variable interest rates
No personal guarantee or cash security required
No prior account relationship required with Standard Chartered
Early settlement and partial prepayment options
Loans against land value if building plan is approved by Rajuk or similar authorities
Option to avail home loan in installments, based on the amount of down payment arranged at every step
Option to pay only interest during construction period

Exclusive features
Step by Step Financing: You can avail the home loan in steps, depending on how much down-payment you can arrange at every step. This greatly reduces the burden of having to pay the whole down payment at once.
Plinth Level financing: You can avail home loan for purchasing an apartment that is still in the construction stage, provided that the foundation and the basic structure of the building have been completed. To avail our Home Loan, you will no longer have to wait till the construction is over. This will help you choose your preferred apartment before others do.


Eligibility
Professional Experience: At least three years of service/ professional/ business track records
Income: Minimum monthly income of BDT 25,000
Minimum Age: 25 years
Maximum Age: 65 years at the end of the loan tenure or retirement age for service holders (whichever is earlier).
Proposed Property: Any property on leasehold / freehold / private land in Dhaka & Chittagong metropolitan areas.


Flexible Loan features
Loan tenure of up to 20 years
Loan amount up to BDT 10,000,000
Financing available for up to 80% of property value
Refinancing / loan takeover facility available


Repayment
Repayment by Equated Monthly Installments (EMI)
Interest calculated on monthly reducing-balance basis


Security
Registered mortgage in favor of Standard Chartered Bank, or equivalent securitization under Tripartite Agreement or Four party agreement
Mortgage Reducing Term Assurance (MRTA)
Our Home Loan comes with a very attractive credit-life insurance bundle scheme called Mortgage Reducing Term Assurance (MRTA). The insurance coverage is provided by one of the best life insurance companies around. Moreover, we are financing the insurance premium along with your home loan.

MRTA insures your Home Loan against your death or permanent total disability, relieving you and your family of the burden of the loan in the event of any such unforeseen circumstances. Your dream home will be there for your family, forever.

Apply for a Home Loan with MRTA and enjoy the following special interest rates
Standard Chartered now offers the best interest rates in the market for home loans, bundled with MRTA. The interest rates are variable, and will be reviewed on a 6 monthly basis (after loan disbursement), based on 182-Day Government Treasury Bill rates. The interest rates are as follows:

Loan Type Interest Rate (p.a.)
Home Loan (for purchase of a new home) 9.5 %
Takeover Loan (transfer of your loan from any other bank/FI) 9.5 %
Home Credit (for renovation / extension of your home) 10.49 %

Above interest rates are as on 1 August 2010; interest rates are subject to change without prior notice.

Processing Fees
Loan Processing Fee: 1.5% of the loan amount + 15% VAT on processing fee

Takeover Loan
You can transfer your existing home loan at other banks or financial institutions to Standard Chartered Bank at attractive interest rates and make significant savings. Just visit any of our branches or call our call centre to know how much you can save. No processing fee is charged for Takeover Loans.

Accessible
At Standard Chartered, we believe in delivering our services to our customer's doorsteps. If you want someone from our Home Loan sales team to contact you and guide you on the Home Loan application process, just drop us an email with your basic information (name, profession, type of Home Loan you are willing to avail, and contact details) at mortgage.onestop@sc.com. You may also visit your nearest Standard Chartered branch or call our 24-hour call centre at (02)8961151 or 01819-399999 anytime, any day, for more information.

Eastern Bank Home Loan:

Loan amount BDT 500,000 – 75,00,000 or 50 times of applicant’s Gross Monthly Income, whichever is lower

Repayment tenure 3 years to 20 years

Attractive Interest rates based on loan amount:

Loan Amount Interest Rate
BDT 5 Lac to 15 Lac 14.00%
BDT 15 Lac+ to 25 Lac 14.25%
BDT 25 Lac+ to 40 Lac 14.50%
BDT 40 Lac+ to 75 Lac 15.00%

Loan Take-over facility with attractive interest rate option (1% less than existing other Home Loan but not less than 13.5% per annum)

Processing fee – 1.25% of the loan amount for the fresh applicants and 0% for the take-over loans

Loan up to 80% of the property value

Advance/Partial Prepayment - Anytime and any amount payment facility available, fee is 1% of the Advance/Partial Prepayment amount.

Additional Loan Top up facility available

Bangladeshi citizen within age range 22 Years – 57 years

Length of Service/Business:

Salaried Executives: Minimum 3 year of experience with 6 month permanent employment with present employer; Contractual Employees of Supranational Organizations, international development organizations & Donor agencies e.g. WHO, FAO, UNDP, CARE etc. will be eligible subject to 1. minimum length of service 5 years 2. contract renewed at least twice

Professionals: Minimum 3 year of practice in the profession

Businessman: Minimum 3 years of involvement in business

Minimum Income for Individual :

BDT 25,000/- per month for Salaried Executives

BDT 40,000/- per month for Self Employed and others

BDT 50,000/- per month for Businessmen

Joint Applicant - Spouse and immediate family members (father, mother, son, daughter, brother & sister)

Total Income for Principal and Joint Applicants:

BDT 30,000/- per month for Salaried Executives

BDT 50,000/- per month for Self Employed, Businessmen and Others



One last thing you may find useful while thinking about buying a house or apartment in Bangladesh. You may want to contact the most reliable organization in this field - the REHAB Housing. Find below the contact information:

Rehab Housing Website, Hot Line : +8801922101144, +88029143576.