There are various types of loaning schemes House Building Finance Corporation (HBFC) all of them are described below:
House Building Finance Corporation (HBFC)
The Bangladesh House Building Finance Corporation (HBFC) was established in 1973 with a view to developing housing in the country to solve the acute problem.
The main objective of the corporation is to provide financial assistance for the construction, repair and remodeling of residential house in the cities, towns and Thana head quarters.
The corporation has various types of loaning schemes at present. These are as follows:
- General Loan
- Group Loan
- Flat/Apartment Loan
- Adjustment Loan
- Loan for semi-pucca house
1. General Loan:Â This loan is given to self or in joint names (husband/wife) against construction of self-contained unit of a house in developed and planned areas in Dhaka and Chittagong cities and other areas as detailed below:
|
Areas |
Maximum Limit (depending of areas covered) |
Own Investment |
Period |
Interest |
| a) Guslshan, Banani, Baridhara, Dhanmondi, Uttara, DOHS residential areas in Dhaka city. |
25 Lac |
30% |
15 yrs. |
15%
|
| b) Agrabad, Kulsi area in Chittagong city. |
20 Lac |
30% |
15 yrs |
15%
|
| c) Dhaka city other than areas specified above. |
20 Lac |
30% |
15 yrs |
15%
|
| d) Dhaka city where road link is below 15 feet wide. |
15 Lac |
20% |
15 yrs |
13% |
| e) Old District town
New District town |
9 Lac 7 Lac |
20% 20% |
15yrs 15yrs |
10% 10% |
2. Group Loan:Â This housing loan in allowed for the construction of multi-flat building on the plot owning more than open person in developed areas in Dhaka and Chittagong cities with a limit of tk. 12 lac depending on area covered against own investment of 25% bearing interest @ 13% with repayment within 15 years.
Besides Dhaka and Chittagong, loan is also given in Narayangonj, Sylhet Sadar and divisional headquarters up to Tk. 4 lac depending on area covered with own investment of 25% bearing interest @ 10% with repayment within 15 years.
3. Flat/Apartment Loan: Loan is also allowed to buy apartment/flat up to Tk. 12.96 with a covering area of 1800 sq ft for a period of 15 years bearing interest @ 13% p.a.
4. Adjustment Loan: Adjustment loan is allowed to those who could not complete the building as per plan/estimation or who could not undertake repair of the existing built-up house for want of fund.
Adjustment loan Is repayable within 15 years bearing interest upto Tk. 15 lac @ 13% p.a. and above Tk. 15 lac @ 15 % p.a.
Loan for small unit multi-storied building
(for middle/low middle class)
In order to ease the house shortage, particularly in the cities and towns, the Government approved a special housing programme for the middle and low income group who could get the desired loan with nominal investment.
This loan I allowed for small unit multi-storied building up to 1000 sp.ft. per unit as per the under-noted system:
|
Celling |
Period |
Interest |
|
| Old district headquarters
(up to 4000 sq.ft.) |
9 lac |
20 yrs. |
10% |
| New district headquarters
And Sreemongal Sadar P.S. (up to 4000 sq. ft.) |
7 lac |
20 yrs. |
10% |
|
(in Divisional and district headquarters – outside Dhaka/Chittagong cities) |
2.70 lac |
15 yrs. |
10% |
5. Loan for semi-pucca houses
With a view to augmenting the resources of the House Building Finance Corporation, Bangladesh Bank invested substantial amount in debenture to the BHFC.
Besides, Nationalize Commercial Banks, Sadharan I am and to be Corporations have also made huge amount of debenture financing to the HBFC.
The Corporation is a unique credit institution in the country which is financing housing projects in the private sector.
IN addition to HBFC, various financial institutions have been set up in private sector with a view to provide finance in housing sector.
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