Janata Bank PLC Commercial Real Estate Loan

Securing a loan involves meeting specific criteria set by financial institutions. This blog post will delve into the eligibility requirements for obtaining loans, as prescribed by Janata Bank PLC

Eligibility Criteria:

1. Bangladeshi Citizenship:
   • Applicants must be citizens of Bangladesh.
2. Financial Capacity for Equity Investment:
   • Individuals should possess the financial capability to engage in equity investment.
3. Experience in Multi-story Building Construction:
   • Prior experience in the construction of multi-story buildings is required.
4. Membership in REHAB:
   • Applicants must be members of the Real Estate and Housing Association of Bangladesh (REHAB).
5. Positive Cash Flow for Loan Repayment:
   • A favorable cash flow must be maintained for the repayment of the loan.
6. Active Account in the Relevant Branch:
   • An active account in the branch handling the application is necessary.
7. TIN Certificate:
   • Applicants are required to have a Tax Identification Number (TIN) certificate.
8. And More…

Loan Details:

• Loan Limit: Up to 60% of the total estimated construction cost.
• Interest Rate: 12%, subject to compounding (variable interest rate per the latest circular).
• Installment Type: Monthly.
• Loan Period:
• For Commercial Buildings with the purpose of building construction and rent: Up to 15 years, including an 18-month construction period.
• For Business Buildings such as apartments/shopping malls/office spaces for sale: Up to 24 months for construction, with repayments within 3 years.

Security Requirements:

• The relevant land and the constructed/under-construction building will be mortgaged as registered mortgage with the bank.

Branch list to apply for a loan

1. Principal Branch and Central Branches in Dhaka city, Corporate-1 and Corporate-2.
2. Corporate Branch on Bangabandhu (Bibi) Road, Narayanganj.
3. Corporate Branch on Laldighi East and Sheikh Mujib Road, Chittagong.
4. Branches in Rajshahi, Khulna, Sylhet, Barisal, and other district/city corporate/main branches.
5. Branches directly involved in branch building construction.