NRBC Bank Home Loan

NRBC Bank Home Loan

NRBC Bank PLC comes with attractive loan solutions for Building construction, Building purchase, Apartment purchase, House renovation and Semi Paka construction located in urban, semi urban also rural area of Bangladesh. It is a Term loan facility (EMI based) for creditworthy Bangladeshi citizen residing inside or outside Bangladesh. Our NRBC Bank has more than 700 business outlets ready to entertain any credit worthy individual to meet financial loan solution and technical assistance to meet their accommodation need. This loan can also be referred to as a mortgage loan.

Loan Purpose

  •   Apartment purchase
  •  Home Construction
  •   Building Purchase
  •  Semi Paka construction

Features

  • Loan amount: upto BDT 2,00,00,000
  • Loan up to 70% of property value for NRB’s upto 75%.
  • Repayment tenor of maximum 20 years.
  • Minimum age of 22 years at the time of loan application
  • Maximum age of 65 years at the time of loan maturity.
  • Legal heir/successor of the property as co-applicant.
  • Competitive interest rate
  • Advance/Partial prepayment allowed.
  • Processing fee – as per NRBC bank Schedule of Charges
  • Grace Period/Moratorium allowed.

Benefits

NRBC Home Loan comes with following bunch of benefits

  •  Tailored to fit all aspects of home loan requirements
  •  Financing from foundation work of owned home construction
  •   Customer can avail Top Up facilities of existing home loan
  •  Income aggregation of co-applicant is allowed
  •  No early settlement fee on maximum 25% of principal settlement
  •   Minimal documentation and hassle-free quick loan processing

Processing Fee

  •   Processing Fee: 1% of loan amount + VAT & Stamp cost
  •   Penal Rate: 24% per annum on outstanding amount
  •   Prepayment Fee: 1% on settled amount + VAT

Eligibility and other requirements

For Salaried executives

BDT 30,000 / month

Minimum net income required

  • Length of experience : Minimum 2 years of experience, at least 6 months with present employer (Offer letter and release letter from previous employer to prove 2-year service experience)
  • Letter of Introduction (LOI) as per NRBC Bank format
  • Latest 3-month Pay Slip showing all breakdowns (if any)

For Self-employed/professionals

BDT 40,000 / month

Minimum net income required

  • Length of experience : Minimum 3 years of practice in present profession (Certificate of professional degree and certificate of membership from professional body for proof of 2-year practice)
  • Other requirements: Income declaration

For Business person

BDT 50,000 / month

Minimum net income required

  • Length of experience : Minimum 3 years of business experience
  • Trade license copy (minimum 3-year and from inception)
  • Certificate of Incorporation (for limited companies)
  • Memorandum and Articles of Association, latest Schedule X and Form XII (for limited companies)
  • Registered Partnership Deed (for partnership business)

For land owners

BDT 50,000 / month

Minimum net income required

  • Rental Income generating property related documents – Valid
  • Rental Deed, Title Deed, Mutation, Land Development Tax (Khajna), Building plan and approval copy
  • Age Minimum : 22 Years
  • Maximum : 60 years (For Salaried), 65 Years (For Others)

Mandatory documents for all professionals

Clear photocopy of National ID Card

Clear and recent lab print photographs (2 copies)

Original Bank statement of last 12 months

Sanction letter of existing credit facilities along with original last 12 months repayment statement.

Copy of e-TIN Certificate and latest tax return acknowledgement copy

Properly filled up CIB undertaking and enquiry form as per NID

NRBC may ask for any relevant documents if necessary

All applicable fees will be as per NRBC Schedule of Charges