BRAC Bank affordable home loan

BRAC Bank home loan

Welcome to a new article. Today I will discuss in detail about BRAC Bank Affordable Home Loan

BRAC Bank Affordable Home Loan:

BRAC Bank brings affordable home loans, if you want to build your dream home. But if you are worried about money, you can fulfill your dream with a home loan from BRAC Bank. BRAC Bank does not have to pay any mortgage for taking a home loan up to 50 lakhs. You can take this home loan up to a maximum of 85 lakh rupees from Back Bank. BRAC Bank home loan interest rate is up to 7.50% and BRAC Bank can give you this loan for a period of 10 to 25 years. This loan has to be repaid within a period of 10 to 25 years. 2% processing fee is applicable on your loan amount.

BRAC Bank home loan

What are the eligibility requirements for taking the loan:

  1. You must be an adult to take a loan. Therefore, the age limit of the person who wants to take the loan must be 25 years to 65 years.
  2. To take a loan, the person must have a legitimate source of income from a job or business. No person without source of income can take loan.
  3. Business person should have minimum three years experience in business. Must have valid documents of monthly income of at least 50 thousand taka.
  4. The employed person must have a minimum of one year of work experience and the monthly salary must be at least 35 thousand rupees or more.
  5. If you are a land lord or a house owner, you should have a minimum monthly income of 50 thousand rupees from house rent.
  6. Doctors, Engineers, Lawyers and other professionals should have minimum three years of experience in the said profession. Must have valid documents of minimum monthly income of 50 thousand taka.

BRAC Bank's Affordable Home Loans are of three types:

1. Semi paca also known as Basti Home Loan.
2. Construction and Extension which is known as Nest Home Loan.
3. Flat parches also known as Nibas Home Loans.

Basti home loan for construction of semi paca house. Nest home loan for construction, repair and expansion of house. BRAC Bank provides residential home loan for flat purchase. Back Bank home loan interest rate is 7.50%.

Back Bank Affordable Home Loan Amount:

● From 3 to 50 lakhs taka in case of settlement.
● From 3 to 85 lakhs taka in case of nest loan.
● Up to 85 lakhs taka in case of housing loan.

Loan Tenure:

Maximum 10 years in case of settlement loan and nest. But in the case of nest, if the maximum is above 50 lakhs, the maximum period is up to 25 years.
In case of residence, the maximum loan tenure is 25 years.

In taking a loan, you must remember that the foundation stone must be laid in the case of settlement or residence.

Area of Loan:

These loans are given at the city corporation, municipality, upazila and even union level.

What documents do you need to take a BRAC Bank home loan?

  • Two recent passport size color photographs of the applicant and his/her colleagues and family members should be submitted.
  • Applicants and guarantors must provide photocopy of National Voter ID Card or Passport or Driving License.
  • Utility bill. Eg: Photocopy of gas or electricity bill to be provided. For address proof.
  • Applicant and guarantor must submit photocopies of office ID cards.
  • E-TIN Certificate if any should be provided.
  • Latest six month bank statement of salary account all loan statement if any. The last minimum 12 months statement must be provided. That is, if you have any other loan, its last 12 months information statement must be provided.
  • Credit card statement if any. Last six months. That is, if you have taken a credit card, then you have to provide the last six months of bank statements.
  • The organization you work for. That organization should provide salary certificate.
  • In case of partnership business partner document must be shown.
  • In case of traders all business related documents and in case of professionals all documents related to profession have to be provided.

Post a Comment

Previous Post Next Post