DBH is the first to sign

“Bangladesh Bank Refinance Scheme for Housing Sector”

Recently, Bangladesh Bank introduce a new scheme known as “Bangladesh Bank Refinance Scheme for Housing Sector” to provide refinance facility to the institutions who are giving Home Loans to individuals for buying/constructing apartments in order to meet the housing demand of middle and lower middle income earners in the urban areas and to contribute in the increasing activity of housing sector in the country’s economy. In order to provide home loans under this scheme, recently Delta Brac Housing Finance Corporation Limited (DBH), the specialist in housing finance, signed a participation agreement with Bangladesh Bank.

Among all banks and financial institutions in Bangladesh, only DBH is the first to sign this agreement.

Under this scheme, only six city corporations (Dhaka, Chittagong, Rajshahi, Khulna, Sylhet and Barisal) and areas in the Tongi, Gazipur, Savar and Narayanganj municipality will receive special loan at reduced rate. The apartment bought under this scheme has to be maximum 1250 square feet. An applicant may receive up to 15 lakh taka home loan. An applicant receiving having a monthly income of less than 30,000 taka will be eligible for receiving home loan under this scheme. Those who do not have any apartment or house named after their husband/wife/children in the above mentioned areas, are eligible for receiving this loan. To be eligible for home loan under this scheme, the applicant shall not have any home loan/scheme facility from its employer. Those who haven’t taken any home loan from any bank/financial institution previously can be eligible for this home loan scheme.

The maximum tenure of this home loan is 20 years with rate of interest 10% p.a.

This refinance scheme introduced by Bangladesh Bank in order to increase home ownership among the middle and lower middle income earners is truly a radical change that has long been cherished. With the advent of this scheme the middle and lower middle income earners will have their dream home into reality. Being the specialist in housing finance, DBH believes in strengthening the society of the country by continually expanding home ownership. And having BB Refinance Scheme in place, this will surely become much faster and easier.