BRAC Bank Home Loan
BRAC Bank home loan financing against the purchase of your under-construction/semi-completed/completed/secondhand apartment or house.
Key Product Features
| Interest Rate |
8.50% Interest rate varies from 8.50% to 11.5% depending on the customer segment. |
|---|---|
| Interest Type | Floating (Variable) Interest |
| Lock-in Period | 1 year/s |
| Max. loan tenure | 25 year/s |
| Islamic / Conventional | Conventional |
| Approval duration | BRAC Bank will take approximately one month to review and approve your loan request. |
Fees and Charges
| One time set-up | Penalties |
|---|---|
|
Processing fee 1% on approved loan amount. Service Charge 1% |
Early Settlement N/A Late Payment Charges N/A |
|
Documentation Fees At actual Property Valuation Charge At actual |
Property Mortgage Charge At actual |
Eligibility
Age requirement
Age 25 - 65
Min Income requirement
BDT25 000 gross per month
Documentation Requirements
See Other Requirements
Number of Guarantor
You need one guarantor to be approved for this loan.
Employment Eligibility
For Salaried Individuals : Total job experience s minimum 3 years & must be permanent in current job & Minimum income is BDT 25000. For Businessmen : Total business experience is minimum 3 years & minimum income must be at least BDT 30,000.
Age 25 - 65
Min Income requirement
BDT25 000 gross per month
Documentation Requirements
See Other Requirements
Number of Guarantor
You need one guarantor to be approved for this loan.
Employment Eligibility
For Salaried Individuals : Total job experience s minimum 3 years & must be permanent in current job & Minimum income is BDT 25000. For Businessmen : Total business experience is minimum 3 years & minimum income must be at least BDT 30,000.
Other requirements
Common Documents:
- Latest 1-year personal bank statement.
- Latest Tax clearance certificate /return receipt of tax
- Photocopy of National ID Card / Passport.
- Letter/ Allotment Agreement/ Byna Deed for Home Loan
- Registered ownership deed for Home Credit / Take Over Loan
- Price quotation for Home Credit Loan
Additional Required Documents :
For Salaried Individuals :
- Letter of introduction (LOl).
- Latest 01-year salary account statement.
For Businessmen :
- Trade License for last 3 years.
- Latest 01-year bank statement of the company
- Registered partnership deed for Partnership Company
- IMOA+ Certificate of incorporation+ Latest Schedule X for Private Limited Company