flat loan

BHBFC to cut interest rate for flat loan

MNA Business Desk: Bangladesh House Building Finance Corporation (BHBFC) plans to lower the interest rate for its flat loan scheme to single digit as some private banks have already cut the interest rates on flat loans.

Some leading private banks and financial institutions, including BRAC Bank, Eastern Bank, Standard Chartered, City Bank, IFIC, have already brought down the interest rates on flat loans.

The interest rate for house building was brought down to 9 per cent from 12 per cent while the interest rate for flat loan was fixed at 10 per cent.

In April this year, BHBFC increased loan ceiling to Tk 8 million from Tk 4 million for flat purchase and reduced the interest rate to 10 per cent from 12 per cent for borrowers in Dhaka and Chittagong metropolitan areas. The loan ceiling in Tongi, Savar Pourasabhas and all divisional cities has been increased to Tk 6 million from Tk 4 million.

For house building, the loan ceiling has been increased to Tk 10 million from Tk 5 million and the interest rate has been brought down to 9.5 per cent from 12 per cent.

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