BRAC Bank Home Loan

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.

Other requirements


Common Documents:

  1. Latest 1-year personal bank statement.
  2. Latest Tax clearance certificate /return receipt of tax
  3. Photocopy of National ID Card / Passport.
  4. Letter/ Allotment Agreement/ Byna Deed for Home Loan
  5. Registered ownership deed for Home Credit / Take Over Loan
  6.  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