A flat purchase loan in Bangladesh is a loan for purchasing a property in Bangladesh. The maximum loan amount is determined by a number of factors including the borrower’s monthly net disposable income, age, qualification, and value of the immovable property. If the borrower is married, his/her spouse’s income can also be considered. The loan amount can be up to Tk 30 crore.
This loan is available to low and middle income earners in Bangladesh and is available with five percent interest. The loan will be repaid over a period of 10 years and will not require any type of security. The minimum loan amount is Tk 30 lakh. The maximum number of borrowers in a group will be 15.
Low income earners can also apply for a loan of up to Tk 30 lakh to purchase a flat that is environment-friendly. They must own a flat that is 750 square feet or smaller. The Sustainable Finance Department of Bangladesh Bank issued an instruction to commercial banks that these new loans will have a maximum interest rate of five to six percent. The maximum interest rate for a loan that is repaid over five years is 5.5 percent, and six percent for loans over eight years.