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) (Official Website) 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 a residential house in the cities, towns and Thana headquarters.
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: This loan is given to self or in joint names (husband/wife) against the 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 on areas covered) |
Own Investment |
Period |
Interest |
| a) Gulshan, 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: This housing loan in allowed for the construction of a multi-flat building on the plot owning more than the 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, the loan is also given in Narayangonj, Sylhet Sadar, and divisional headquarters up to Tk. 4 lac depending on the 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 coverage 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 the repair of the existing built-up house for want of fund.
Adjustment loan Is repayable within 15 years bearing interest up to 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 housing 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 a substantial amount in debenture to the BHFC.
Besides, Nationalize Commercial Banks, Sadharan I am and to be Corporations have also made a 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 providing finance in the housing sector.
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