Sat, 13 August 2022
The Daily Ittefaq

Low-middle incomers to get loan of Tk 30 lakh to buy flat

Update : 25 Jul 2022, 15:27

Low and middle-income people will get a loan of up to Tk 30 lakh without any collateral to buy a flat in an eco-friendly multi-storied building. Customers can take this loan for flats of a maximum of 750 square feet.

Bangladesh Bank’s (BB) Sustainable Finance Department issued a circular in this regard and sent it to commercial banks on Sunday. 

According to the circular, a person of low and middle income group will get Tk 30 lakh without any security. Interest of the loan is five present.

It has been said that the banks will give loans at a maximum interest rate of 5 to 6 percent at the customer level. In this case, the maximum interest rate will be 5 percent for loans less than five years, 5.5 percent for less than 5-8 years and 6 percent for more than 8 years.

The central bank’s circular also said that a 10-year loan with a grace period of 18 months can be taken for buying a flat in an environment-friendly multi-storied building. That is, the repayment of loan installments will start after one and a half years. 

Banks and financial institutions contracted in the eco-friendly sector used to get funds at 4 percent interest till now. Now one percent is reduced, as a result, they will get the loan at a three percent interest rate.



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