Int'l Leasing signs deal with BB to provide home loan
Wednesday, 31 October 2007
FE Report
International Leasing and Financial Services Limited (ILFSL) signed a participation agreement with the Bangladesh Bank (BB) to extend home loan facility to lower and middle-income groups of borrowers in the city recently.
The agreement signed under the 'Bangladesh Bank Refinance Scheme for Housing Sector' will help the borrowers have increased access to own homes.
The scheme offers an affordable rate of interest at 10 per cent per annum for a maximum period of 20 years with repayment facility on a monthly installment basis.
As per the agreement, International Leasing will provide home loans to individual borrowers in the six city corporations -- Dhaka, Chittagong, Rajshahi, Khulna, Sylhet and Barisal -- along with four municipal areas of Tongi, Gazipur, Savar and Narayanganj for construction or purchase of house or apartments with unit size not exceeding 1,250 square feet.
Only those applicants, whose regular gross monthly income does not exceed Tk 30,000, may receive a maximum amount of Tk 1.5 million as home loan facility.
Applicants who have not taken any home loan previously from any bank or financial institution and those who do not have any housing or apartment unit in their own or spouse or children's name in the above-mentioned areas are eligible for the home loan facility.
In case of salaried persons, employees not having any home loan facility with their present employer or company are also eligible to apply.
International Leasing and Financial Services Limited (ILFSL) signed a participation agreement with the Bangladesh Bank (BB) to extend home loan facility to lower and middle-income groups of borrowers in the city recently.
The agreement signed under the 'Bangladesh Bank Refinance Scheme for Housing Sector' will help the borrowers have increased access to own homes.
The scheme offers an affordable rate of interest at 10 per cent per annum for a maximum period of 20 years with repayment facility on a monthly installment basis.
As per the agreement, International Leasing will provide home loans to individual borrowers in the six city corporations -- Dhaka, Chittagong, Rajshahi, Khulna, Sylhet and Barisal -- along with four municipal areas of Tongi, Gazipur, Savar and Narayanganj for construction or purchase of house or apartments with unit size not exceeding 1,250 square feet.
Only those applicants, whose regular gross monthly income does not exceed Tk 30,000, may receive a maximum amount of Tk 1.5 million as home loan facility.
Applicants who have not taken any home loan previously from any bank or financial institution and those who do not have any housing or apartment unit in their own or spouse or children's name in the above-mentioned areas are eligible for the home loan facility.
In case of salaried persons, employees not having any home loan facility with their present employer or company are also eligible to apply.