Tk1cr housing loans for Supreme Court justices
Representational image. Picture: Collected
Supreme Court justices, including the Chief Justice, now can borrow up to a maximum of Tk1 crore in loans to buy a flat or build a home.
The government will provide a 4% subsidy on a 9% simple interest rate applied to such loans.
A letter signed by Finance Secretary Abdur Rouf Talukder, says that justices can apply for the 20-year term loan, up to one year before their retirement.
Keep updated, follow The Business Standard's Google news channel
Of the 9% simple interest rate, 5% is the bank rate which the borrowers have to pay and the rest will be provided by the government as a subsidy.
In 2018, the Ministry of Finance introduced a housing loan facility of up to a maximum of Tk 75 lakh for government employees.
Later this facility was also introduced for university teachers.
