MTBL, Bangladesh Bank sign participation deal for housing
Sunday, 7 October 2007
FE Report
Mutual Trust Bank Limited (MTBL) recently signed a participation agreement with Bangladesh Bank (BB) on refinancing scheme for housing.
MTBL Managing Director Kazi Md Shafiqur Rahman and BB General Manager (Agricultural Credit and Special Programmes) signed the agreement on behalf of their respective organisations.
Under the agreement, the MTBL will provide loan to low income people of six city corporations -- Dhaka, Chittagong, Khulna, Barisal, Rajshahi and Sylhet -- and municipal areas of Savar, Gazipur, Tongi and Naraynganj at low interest that determined by the government, whose monthly earnings are not more than Tk 30,000.
Any person whose monthly income is less than Tk 30,000 will be able to avail up to Tk 1.5 million (15 lakh) for a maximum period of 20 years to purchase apartment, house or for construction at 10 per cent interest rate.
The loan applicant has to ensure that he or she has not availed house loan either in his or his spouse's or children's name from any bank and no house or apartment remained in either their names or applicant's name.
Mutual Trust Bank Limited (MTBL) recently signed a participation agreement with Bangladesh Bank (BB) on refinancing scheme for housing.
MTBL Managing Director Kazi Md Shafiqur Rahman and BB General Manager (Agricultural Credit and Special Programmes) signed the agreement on behalf of their respective organisations.
Under the agreement, the MTBL will provide loan to low income people of six city corporations -- Dhaka, Chittagong, Khulna, Barisal, Rajshahi and Sylhet -- and municipal areas of Savar, Gazipur, Tongi and Naraynganj at low interest that determined by the government, whose monthly earnings are not more than Tk 30,000.
Any person whose monthly income is less than Tk 30,000 will be able to avail up to Tk 1.5 million (15 lakh) for a maximum period of 20 years to purchase apartment, house or for construction at 10 per cent interest rate.
The loan applicant has to ensure that he or she has not availed house loan either in his or his spouse's or children's name from any bank and no house or apartment remained in either their names or applicant's name.