Shari’ah Features:

• Riba (interest) free investment facility.​
• Bank and the customer jointly purchase/construct a flat/house.​
• Bank rent out its portion in the asset to the customer against a series of rental payment.​
• Customer purchases Bank’s portion of the asset making payment in monthly/ quarterly installments.​
• No rental is charged until the flat/house becomes usable.​
• Option for reimbursement of Takaful (insurance) expenses and major maintenance cost under mutual agreement.

General Features:

• Finance amount ranges from BDT 5 Lac to BDT 2 Crore (for renovation up to BDT 75 Lac)
• Up to 70% of the property value is invested by the bank.
• Investment tenure varies from 1 to 25 years (for renovation up to 10 years)
• Property age should be maximum 20 years at the time of financing and 40 years at the end of financing tenure.
• Takeover facility from any other bank/financial institution.
• No processing fee is charged.
• Free from any compounding calculation.
• No fee for early settlement.

Eligibility:

• Age of the applicant: 25 to 70 years.
• Minimum Experience: 2 (two) years for salaried person and 3 (three) years for professionals and busniness owners.
• Minimum Monthly Income: BDT 25,000 for Government employees, BDT 30,000 for other salaried persons and BDT 40, 000 for Self-employed/Land lord/ business persons/ other individuals.