Buying a residence, business premises, or investing in real estate can be such a significant financial commitment that you end up turning to financial institutions, such as banks, to get home loans while saving money. Several reputable banks in Bangladesh provide home loans. Among the financial institutions involved are Eastern Bank Ltd., Standard Chartered Bank, City Bank, Midland Bank, Trust Bank, and others. 

Here’s some information on the qualifications customers need to get a home loan, the benefits banks offer, and which banks in Bangladesh are the best for home loans.

 

Trust Bank:

Trust Bank Limited is a leading private commercial bank in Bangladesh, with a network of 113 branches and SME centers, 4 sub-branches, 245 ATM booths, and over 500 POS. Trust Bank has been operating in Bangladesh since 1999 and has earned public trust as a sound and stable bank, offering a diverse range of modern corporate and consumer financial products. In addition, trust Bank offers “Apon Nibash,” a House Finance Loan with attractive and competitive features for anyone looking to buy, build or renovate their dream home.

Trust Bank’s eligibility requirements for a home loan:

Customer Segments:

Borrowers should be salaried employees, independent contractors, business owners, landlords, and landladies. 

Age: 

1. The minimum age is 25 years. 
2. The maximum age is 65 years old, or until the age of retirement.

Property’s age: 

At the time of underwriting, the age limit was set at 20 years. Therefore, the property should not be older than 40 years old at the end of the loan term. 

Specialized services: 

There is a 9.00% interest rate. 

  

Standard Chartered Bank: 

Standard Chartered Bank began operations in 1947 to provide its customers with the best banking services. Aside from various customer benefits from this reputable bank, such as home loans, personal loans, auto loans, and e-statements. 

Standard Chartered Bank’s eligibility requirements for a home loan:

• At least 25 years of age is required for the primary borrower.
• The co-borrower must be 22, and the co-applicant must be 18.
• The maximum age at the end of the loan tenure is 70, or retirement. 
• Work experience of at least three years is required.

Specialized services: 

• Up to BDT 2 core, or 70% of the property value, can be borrowed.
• For business owners, the loan term is up to 10 years, while for others it is up to 25 years.
• Validation of legal documents and valuation in a short amount of time.
• Clients with more than 70 lac in outstanding loans are given priority banking services.
• If applicable, there is a chance to get your money back.

 

Eastern Bank Ltd.: 

Eastern Bank Limited, also known as EBL, has become one of Bangladesh’s most valuable financial institutions by leveraging core strengths in information technology, corporate governance, and service excellence. EBL’s guiding principle is to meet the new challenges of the modern marketplace while also emphasizing the value of personal touch and relationship banking.

Eastern Bank Ltd.’s eligibility requirements for a home loan: 

Age:

1. The minimum age is 25 years.  
2. The maximum age is 65 years. 

Salary per month: 

1. BDT 30,000 for executives. 
2. 40,000 BDT for professionals.    
3. BDT 50,000 for businessmen and landowners. 

Length of experience: 

1. Salaried executives must have at least 2 years of experience and have worked for the current employer for at least 6 months.  
2. Professionals must have a minimum of three years of experience.    
3. According to the trade license, a businessperson must have at least 3 years of experience in the industry.

Specialized services:

• The interest rate is 10.50%. 
• The loan amount ranges from BDT 500,000 to BDT 20,000,000.
• The loan can be repaid over a period of up to 25 years.  
• The loan-to-value ratio is 70% of the property’s value.
• Interest rates are competitive.
• The early settlements, both full and partial, allowed for significant progress.  
• The quickest loan processing.
• Minimal documentation is required.
• There are no hidden fees.

 

City Bank:

City Bank has evolved from a traditional organization to a critically acclaimed multi-faceted institution that embraces global best practices and chooses to be at the forefront of technological initiatives since 1983. As a result, the bank’s success criteria, unlike many others, include financial results and goals aimed at becoming the country’s most comprehensive bank.

City Bank’s eligibility requirements for a home loan:

Age range: 22 to 65 years old

Experience: 3 years of relevant experience.

Income requirements:

1. BDT 50,000 and above.
2. 30,000 BDT (exclusively for government officials).

Specialized services:

• The interest rate is 11.50%. 
• Financing up to 70% of the property’s value is possible.
• Facility for semi-pucca financing.
• Non-Resident Bangladeshis (NRB) are eligible for financial assistance.
• Overdraft (OD) facility on a home loan.
• There are no hidden costs.
• Facility for early settlement.
• Loans are available all over the country.

 

Lankabangla Financial Limited:

Lankabangla Finance Limited is a joint venture multi-product financial institution that began operations in 1996 with a license from Bangladesh Bank under the Financial Institutions Act of 1993. LankaBangla has grown to become the country’s leading provider of integrated financial services, including corporate, retail, and SME financial services, stock broking, corporate advisory, and wealth management.

Lankabangla Financial Limited’s eligibility requirements for a home loan: 

• The primary borrower, co-borrower, and co-applicant must all be 21 years old at the time of loan application.
• For salaried individuals, the maximum age at the end of the loan term is 70, while for others, it is 65/70.

Income requirement:

1. BDT 40,000 for government employees.
2. Individuals with a salary of BDT 40,000.
3. BDT 40,000 for professionals.
4. BDT 50,000 for business people.
5. BDT 40,000 for landlord/landlady.

Specialized services:

• Loans upto 10 crores can be borrowed. 
• There are a variety of partial prepayment options available at any time of the year. 
• With a one-year grace period, loan terms range from one to thirty years.
• A minimum monthly income of BDT 40,000 is required to qualify for home loan financing.

 

Midland Bank:

Midland Bank Limited, a private commercial bank, has long been a customer favorite. Customers in a variety of locations have benefited from Midland Bank’s financial assistance services. Midland Bank, as a result, has a strong reputation in the industry for a variety of reasons, including financial services, high-quality banking services, and a wide range of loan types.

Midland Bank’s eligibility requirements for a home loan:  

• The minimum age should be 21 years old, and the maximum should be 65.
• Government employees are entitled to a minimum salary of BDT 40,000.
• For salaried individuals, a minimum salary of BDT 50,000 is required.
• A BDT 50,000 minimum salary is required for business people and professionals.

Specialized services:

• A loan of up to 2 crore taka is available. 
• There are partial and complete settlement options available.

• There are no hidden costs.

 

IFIC Bank Ltd.:

A banking organization with limited liability called International Finance, Investment, and Commerce Bank Limited (IFIC Bank) was established in the People’s Republic of Bangladesh. It was established at the government’s request in 1976 as a finance company with the aim of operating as a finance company within the nation and establishing joint venture banks or financial institutions abroad. IFIC AAMAR BARI is the ideal financial choice for you if owning a home is something you’ve always wanted.

IFIC AAMAR BARI’s eligibility requirements for a home loan:

• Salaried for 25 years and professional for 20 years maximum.

Specialized services:

• Up to Tk 2 crores in the loan amount
• No processing charges apply to loan takeover.
• A premium overdraft facility of up to Rs 2 crores is available.

Dutch Bangla Bank: 

Dutch-Bangla Bank started operations as Bangladesh’s first joint venture bank. The bank was a project of local investors led by M. Sahabuddin Ahmed (founder and chairman) and the Dutch company FMO.

Dutch Bangla Bank’s eligibility requirements for a home loan:

• A minimum of 18 years of age
• At the end of the loan term, the first applicant can only be 70 years old.

Specialized services: 

• Minimum BDT 2,00,000.00.
• Maximum BDT 1,20,00,000.00 or, in the case of real estate, 70% of the assessed value.
• Up to BDT 75,000.00 may be used for renovations.

In addition to these, many banks offer home loan benefits, so if you need a home loan, any of Bangladesh’s best banks for home loans may be suitable. To secure a secure future, you can contact the best banks in Bangladesh for home loans to purchase land or build a house.