Uttaran Semi Pucca Home Loan (Uttaran Swapna Nibash)

Customer Segment :

Bangladeshi individuals who already own land and have the means and capacity to repay the bank loans, i.e. they could be salaried persons/self employed persons/businesspersons or any other person with legitimate earning sources acceptable to the Bank.

Purpose :

To help genuine landowners to construct/extend/repair/renovate semi pucca single house or a series of house in one boundary for better living or to generate rental income.
To improve the standard of living of tenants by creating the opportunity for them to avail better accommodation facilities at affordable cost.
To contribute towards development of socio-economic condition of the society.

Age :

Minimum age 18 years
Maximum age 65 years

Customer Eligibility :

For salaried individuals, must be confirmed employees of a relevant firm.

For self employed individuals or businesspersons, a business record of minimum 02 years.

For other individuals, with documentary evidence of legitimate earning sources.

Minimum Yearly Income (Net BDT) :

At least three times of the total yearly instalments amount of the loan applied for.

Loan Size :

Maximum amount of loan will be Tk.50.00 lac.

Security Requirement :

The amount of loan is to be covered by 50% of Market Value (MV) of the land.

a. Registered Mortgage of the property where against loan is to be availed by depositing original Title Deed with chain of documents.

b. Registered Irrecoverable General Power of Attorney empowering the Bank to sell the mortgaged property as and when required.

An undertaking by the borrower in bank’s prescribed form to pay monthly installments regularly in time.

Post dated cheques for all installments to be deposited in advance

Personal Guarantee of the Borrower/Spouse or any other person acceptable to the bank is to be obtained.

Tenure :

12 (twelve) months to 144 (One hundred forty four) Months

Availability Period :

The facility will remain available for disbursement/drawing within 03 (three) months from the date of Head Office’s sanction letter. The facility will automatically be cancelled if the disbursement/drawing is not made within the availability period.

Moratorium :

Maximum 06 (Six) months from the date of 1st disbursement/drawing.

Interest for the moratorium period is to be capitalized with the principal.

Repayment Method :

Equal monthly installments and balance outstanding (if any) will be paid with the last installment.

First Repayment Date :

The repayment will commence from the following month of disbursement if no moratorium period is given. In case of moratorium period, the repayment will start after the end of the moratorium period.

Debt Burden Ratio :

A maximum of 33% based on net yearly income.

Loan Processing Fee :

The Loan Processing Fee is receivable only once at the time of disbursement at the rate of 0.50% on the sanctioned amount but Minimum Tk.2,000/- and maximum Tk.10,000/- .

Penal Charges :

@ 2% per annum on the defaulted amount of installment.

Substantiation of Income :

Following as appropriate:

Salary Certificate/Salary Slip/Any other document that may stand as a proof of income

Bank Statements

Income Tax Returns of last period

Present Address :

Borrower must reside for at least 06 months in the same address.

Debt-Equity Ratio :

30% of estimated cost is to be paid by the Borrower.

Prepayment :

Prepayment of loan is allowed upon payment of 0.50% breakage cost on the prepaid amount.

Required Documents :

Recent Passport size color photograph of the applicant(s) and guarantor(s).

Photocopy of NID/Passport/Driving License of the applicant(s) and guarantor(s).

Business Card/Office ID of applicant(s) and guarantor(s), if any.

Latest Tax Certificate, if any.

Personal Net Worth Statement of the applicant(s) and Guarantor(s).

Bank Statement.

Currency	Buying	Selling
USD	120.20	122.22
EUR	110.20	112.50