Only two of the five state-owned banks and financial institution have started receiving online applications from public servants under the low-cost government housing scheme.
The banks and financial institution were scheduled to start the online process by October 1 and disbursement from November this year.
But, only the Bangladesh House Building Finance Corporation (BHBFC) and the Rupali Bank formally started receiving applications days ago while the rest could not launch it due to some 'technical' problems.
A number of applications were received until Tuesday, Managing Directors and concerned officials at these two organisations told the FE.
On September 25, Agrani, Sonali, Janata and Rupali banks and the BHBFC signed memorandums of understanding (MoUs) with the finance ministry to this effect with Finance Minister AMA Muhith in the chair.
Talking to the FE, a general manager of Rupali Bank told the FE that they launched the online application process for public servants just days ago.
But he declined to disclose the number of applications the bank received. The bank would go for disbursement of loans from November.
A BHBFC general manager (Operation) told the FE, "We have formally launched the process of receiving applications from government officials online and also in person."
After completing the application process, "We will scrutinise the applications and then go for a decision on primary sanction in the BHBFC's board meeting and send papers for the government's approval," he added.
The BHBFC would finally go for loan disbursement after the primary sanction of BHBFC approved by the government, he added.
Until Monday they received about 25 such applications, he said.
BHBFC Managing Director Debasish Chakrabarty said, "We are all ready to receive applications from the public servants under the government housing loan scheme for its employees."
Government employees can apply for the loan through the BHBFC's online application process and visit the office to finalise it, he added.
Managing Director of Agrani Bank Mohammad Shams-Ul Islam told the FE that they were preparing to receive online applications by November.
Responding to a query about the delay, he said, "We are all set to launch the loan programme, but there are still some technical issues to address including guidelines and instructions to take applications and disburse the loans."
Echoing the same, Deputy General Manager of Janata Bank Muhammod Mizanur Rahman said that the bank would shortly issue a circular on the online application process from November.
He said the process of issuing a circular to this end would be finalised in the next board meeting of the bank after adopting guidelines and instructions on the housing loan scheme.
On July 31 the finance division of finance ministry issued a circular to this effect that any government employee under the age of 56 can get the low-interest housing loan.
Under the house financing scheme a disburser will charge an interest rate of 10 per cent.
Of the 10 per cent, the government will give five per cent in the form of subsidy while the employee will bear the rest of the interest rate. The rate of interest will be charged only on the principal amount.
The highest amount of loan will be Tk 7.5 million and the lowest Tk 2.0 million based on an employee's grade and job location. The total amount will be payable in 20 years.
A total of Tk 3.0 billion has been allocated as government's subsidy in the current fiscal year.
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