BHBFC inaugurates new home loan ‘Swapnoneer’
Bangladesh House Building Finance Corporation (BHBFC) has recently brought a new financing product in the market named 'The Swapnoneer'.
The product was officially inaugurated at the BHBFC Bhaban in the capital on Sunday (19 March), reads a press release.
The secretary of the Financial Institutions Department (FID) of the Ministry of Finance Sheikh Mohammad Salim Ullah inaugurated it as the chief guest.
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Managing Director of the organisation Md Abdul Mannan presided over the inauguration ceremony. Chairman of BHBFC Board of Directors Prof Dr Md Salim Uddin and other directors of the board were present as special guests.
Senior executives of BHBFC and reporters from various electronic and print media attended the inauguration ceremony. Officers and employees of all levels of the organisation were virtually connected to the event.
Sheikh Mohammad Salim Ullah expressed his deep optimism that the Swapnoneer will play a very helpful role in construction of houses for the targeted group of people including teachers, employees of educational institutions, registered health workers, lab assistants and low income employees working in various public and private offices. In the speech of the special guest Dr. Salim Uddin pointed out that a large population of the society will be greatly benefited by borrowing this financing facility to build safe residential houses at affordable prices. The Managing Director in his welcome address, detailed the Swaponeer financing and mentioned its benefits.
BHBFC is the only specialised organisation of the government that provides loan and investment support for constructing eco-friendly houses for more than seven decades. The organisation provides easy and long term financing.
Swapnoneer is the 12th financing product of BHBFC. Its interest or profit rate in Dhaka and Chittagong metro areas is 9%. Outside these two areas, the rate is only 8%. A maximum of Tk27 lakh can be borrowed under this product for the construction of a house of more or less 1,000 square feet.
A maximum of Tk19 lakh and Tk50,000 can be borrowed for a single unit in a multi-storied building on group basis. One of the salient features of Swapnoneer is that, a customer has to invest only 10% of the total cost of the construction. The remaining 90% will be available in the form of loans or investments.
Against the equity of only Tk3 lakh, maximum loan or investment of Tk27 lakh will be available under this product. Another special feature is that, there is a special discount on application and inspection fees which is half as compared to other products.
A buyer of this product will have to pay monthly installment of only Tk771.20 for every Tk1 lakh for a period of 25 years at the rate of 8% interest or profit. At the rate of 9%, monthly installment is only Tk839 for every Tk1 lakh for a period of 25 years.
