Bank Asia Home Loan

Table of Contents

Bank Asia Home Loan is a term loan facility for the lower middle class, middle class and upper-class people of all Metropolitan, City Corporation, Pourashava & Union Parishad areas. By customer segment Bank Asia offer’s following purpose-based loan products under House Finance:

Details of the Home Loan

Customer Segment	Loan Purpose	Amount Limit	Loan Tenure
Shopner Nirman	Construction of Building	BDT 5 lac to 2 crore	25 Years
Shopner Abash	Purchase of Flat/ House	BDT 5 lac to 2 crore	25 Years
Griha Shaj	Renovation of House/Flat	BDT 5 lac to 1 crore	15 Years
Shopner Kuthir	Construction of Semi Pucca House	BDT 5 lac to 1 crore	15 Years
Nijer Bari	Take Over of Existing Loan from other Banks or NBFIs	BDT 5 lac to 2 crores	25 Years

Customer Segment:

Any Bangladeshi individual can apply who has the capability and ability to repay the bank loan. In specific terms, these could be salaried persons, businessman, landlord, self-employed professional, mariners, wage earners, etc.

Bank Asia Home Loan Features

Loan amount: BDT 5 lac to BDT 2 crore
Loan tenure: 1 year to 25 years
Loan processing fee: 0.5% of the loan amount
Property or life insurance is not mandatory
Partial & full settlement facilities are available
Grace period facility: maximum 12 month.

Read: Bank Asia Personal Loan

Processing fees & Charges

Processing fee: Up to Tk. 50 lac: 0.50% but not exceeding Tk. 15,000, Above Tk. 50 lac: 0.30% but not exceeding Tk. 20,000

Partial / Final prepayment: 0.50% on prepayment amount
Penal interest: additional 2% per month on overdue loan amount
Expenses’ on valuation, Vetting, CPV, CIB & other mortgage-related fees & charges are to be incurred by the applicant.

Eligibility for the loan

Age Limit: Main applicant’s minimum age should be 25 years (if income is considered) and 18-year age (if income is not considered). The joint applicant’s minimum age should be 18 years. Maximum 65 years at of loan maturity
Minimum income: aggregated Income must be more than BDT 25,000 except for Mariners. For Mariners, income must be more than BDT 50,000
Service length / Experience:
- Salaried individual: Minimum 2 (two) years of experience
- Doctors: 1 (one) year of practice experience after getting BMDC registration
- Engineer, Chartered Accountant & Other professionals: 2 (two) years of professional experience
- Businessman: Business duration minimum 3 (three) year
- Mariners: 2 (two) years of professional experience with Continuous Discharge Certificate (CDC) authentication
- Landlord: Must have sufficient regular rental income to repay the bank loan
- Wage Earners: Must have sufficient proof against remittance income.

Required Documents

Common documents:

Two copies of passport-size pictures of the owner/partners/directors
Copy of passport-size photograph of guarantors.
NID / Passport / Birth Registration Certificate with any photo ID of owner / partners / directors
Updated trade License
TIN certificate of owner/partners/directors
Your nominee’s NID / Passport / Birth Registration Certificate with photo ID
Introducer’s information and signatures
Copy of any utility bill for address verification.

Frequently Asked Questions (FAQs) on Bank Asia Home Loan

Q: What is the age limit for the Bank Asia Home loan?
A: The age limit for the Bank Asia Home loan is a minimum of 18 years and a maximum of 65 years at loan maturity.

Q: What is the loan tenure for the Bank Asia Home loan?
A: The loan tenure for the Bank Asia Home loan ranges from 1 year to 25 years.

Q: What is the loan amount for the Bank Asia Home loan?
A: The loan amount for the Bank Asia Home loan is a minimum of 5 lac and a maximum of 2 crore.

Q: What is the interest rate for Bank Asia Home Loan?
A: The interest rate for Bank Asia Home Loan ranges from 8.50% to 9.00%.

Q: Do I need to pay for loan processing charges?
A: Yes, loan processing charges are applicable. For loans up to Tk. 50 lac, the charge is 0.50% but not exceeding Tk. 15,000. For loans above Tk. 50 lac, the charge is 0.30% but not exceeding Tk. 20,000.

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