Eastern Bank Limited Home Loan
No Processing Fee for Takeover Loan
Key Product Features
Shortest loan processing time
|Interest Type||Floating (Variable) Interest|
|Lock-in Period||1 year/s|
|Max. loan tenure||20 year/s|
|Islamic / Conventional||Conventional|
|Approval duration||This bank will take approximately 15 to 25 working days to review and approve your loan request.|
Fees and Charges
|One time set-up||Penalties|
1% on approved loan amount.
2% on overdue amount.
Late Payment Charges
3% on overdue amount.
Property Valuation Charge
Property Mortgage Charge
Age 22 - 60
Min Income requirement
BDT40 000 gross per month
See Other Requirements.
Number of Guarantor
You need only one guarantor to be approved for this loan.
Any credit worthy individuals with a minimum of three (3) years experience like: »Salaried executives »Self Employed : Doctors, Architects, Engineers, Chartered Accountant and Certified Consultant & IT Professionals »Businessperson »Landlords
Additional Details of Eastern Bank Limited Home Loan :
- Insurance Facility: Yes.
- Insurance coverage: Yes.
- Security Replacement Fee: BDT 500.
- No Processing fee for Takeover home loans from other Banks/ Financial Institutions.
- i. Loan facility for both Lease hold and free hold properties.
- ii. TPA (Tri-Partitement) allowed for up to 18 months from the date of the loan disbursement.
Maximum Available Loan Amount is 70%.
Common Documents for all:
- Recent passport size color photographs of applicant(s) and guarantor(s).
- Photocopy of NID/passport/ driving license of applicant(s) and guarantor(s).
- Copy of latest utility bill (gas/water/electricity/municipal tax).
- Business card/office ID copy of applicant(s) and guarantor(s) if any.
- Latest tax certificate/E-TIN.
- Personal net worth statements of applicant(s) and guarantor(s).
- Bank statement of last 12 months for businessmen and 6 months for other categories.
- Rent or lease agreement of house/property (if applicable).
- Additional documents required for Salaried Person/Self Employed:
- i. Salary Certificate/ Letter of Introduction.
- ii. Offer letter/Release letter from previous employer to prove service experience.
- iii. Professional certificate issued by concerned institution.
Additional documents required for Businessmen:
- Copy of trade license.
- Memorandum of Association and Articles of Association of the company.
- Certificate of Incorporation.
- Latest form xii.
- Partnership deed.
Additional documents required for Landlord/Landlady:
- Title deed of premises / property.
- Valid rental deed with tenants.
- Utility bill copy.
- Ground rent payment and municipal tax payment receipt.
Applicants can get a loan amount of maximum 50 times of their net monthly income.
For renovation purpose loan: applicant has to show the quotation to the bank.