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 of 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 1 month

Fees and Charges

One time set-up Penalties
Processing fee
1%

Service Charge
N/A
Early Settlement
N/A

Late Payment Charges
N/A
Documentation Fees
N/A

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
1

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

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