MDB Amar Bari Loan- Your Path to Homeownership

The rural and semi-urban landscapes, where dreams of owning a home flourish, comes MDB Amar Bari – a tailored Home Loan product designed to turn those dreams into reality. Whether it’s building a new home, renovating an existing one, or completing that extension you’ve always envisioned, MDB Amar Bari is here to empower you in your journey to homeownership.

Key Features and Purpose

1. Construction, Renovation, and Extension:
MDB Amar Bari is your partner in constructing, renovating, or extending your residential haven. Whether you own a tin-roofed cottage, a tally-roofed dwelling, or a semi-pucca structure with a concrete roof and brick walls, this loan is crafted to cater to your specific needs.

2. Loan Amount and Repayment Tenure:

• Loan Amount: Ranging from BDT 500,000 to BDT 50,00,000
• Repayment Tenure: Flexible options from 3 to 10 years

3. Competitive Interest Rate:

• Benefit from a competitive interest rate, ensuring affordability throughout your repayment journey.

4. No Processing Fee for Takeover Loans:

• Seamlessly transfer your existing home loan from other banks or financial institutions with zero processing fees.

5. Early Settlement Options:

• Enjoy the flexibility of early full settlement or partial settlement with no hidden charges.

6. Quick Loan Processing:

• Experience swift and efficient loan processing, ensuring you get the funds you need when you need them.

Eligibility Criteria for MDB Amar Bari Loan

Experience:

• Salaried Executives (Govt): Must be a confirmed employee.
• Salaried Executives (Others): Minimum of 2 years’ experience.
• Businessman: Minimum of 2 years’ business experience.
• Self-Employed (Professional): Minimum of 2 years’ professional experience.
• Landlord/Landlady: No specific experience required.

Age:

• Minimum: 21 years
• Maximum:
  • Salaried: 65 years or retirement date (whichever is earlier) at the end of the loan tenure.
  • Self-Employed Professional, Businessman, Landlord: 70 years at the end of the loan tenure.

Minimum Gross Monthly Income:

• BDT 30,000 per month

Joint Application:

• Joint applications are allowed, providing flexibility for co-ownership.

MDB Amar Bari stands committed to making homeownership accessible to all, ensuring a transparent and supportive journey for our customers. With no hidden charges, competitive interest rates, and a quick loan processing system, we aim to be the catalyst for your dreams of a perfect home. Let MDB Amar Bari be the cornerstone of your homeownership journey – where dreams take root and flourish.

Special benefits of the MDB Amar Bari Loan

Category	Details
Tenure	Maximum 10 (Ten) years
Benefit	No processing fee for loan takeover from other Bank & NBFI
Taxes, Duty, Surcharges	As per NBR circular
Highest Amount	Bank will finance a maximum of 70% of the property value or BDT 50 lac, whichever is lower, as per Bangladesh Bank Guidelines (70:30 debt equity ratio)
Moratorium Period	In case of financing for construction purposes, a moratorium period of up to 6 months may be allowed for home loan financing
Proposed Income for Construction	In case of financing for construction purposes, projected income from the proposed mortgaged property may be considered

FAQs for MDB Amar Bari Loan- Your Home Solution

Q1: What is MDB Amar Bari?
A1: MDB Amar Bari is a specially designed Home Loan product catering to the construction, renovation, and extension needs of semi-urban and rural customers for residential purposes.

Q2: What types of residential structures does MDB Amar Bari support?
A2: MDB Amar Bari supports the construction, renovation, and extension of residential houses with tin roofs, tally roofs, or concrete roofs with brick walls (semi-pacca).

Q3: What is the loan amount range for MDB Amar Bari?
A3: The loan amount ranges from BDT 500,000 to BDT 50,00,000.

Q4: What is the repayment tenure offered?
A4: The repayment tenure is flexible, ranging from 3 to 10 years.

Q5: Are there any processing fees for taking over home loans from other banks?
A5: No, there are no processing fees for taking over home loans from other banks or financial institutions.

Q6: Is early settlement allowed, and are there any hidden charges?
A6: Yes, early full settlement and partial settlement are allowed with no hidden charges.

Q7: What is the interest rate for MDB Amar Bari?
A7: MDB Amar Bari offers a competitive interest rate to ensure affordability for borrowers.

Q8: Who is eligible for MDB Amar Bari?
A8: Eligibility is based on experience and age criteria. For example, Salaried Executives (Govt) must be confirmed employees, and all applicants must be at least 21 years old.

Q9: What is the maximum age limit for loan eligibility?
A9: The maximum age limit varies, with salaried individuals eligible up to 65 years or retirement date, and self-employed professionals, businessmen, and landlords up to 70 years at the end of the loan tenure.

Q10: Can I apply for MDB Amar Bari jointly with another applicant?
A10: Yes, joint applications are allowed, providing flexibility for co-ownership.

Q11: What is the minimum gross monthly income required for eligibility?
A11: The minimum gross monthly income required is BDT 30,000 per month.

Q12: How quickly is the loan processed?
A12: MDB Amar Bari ensures quick loan processing, allowing applicants to access funds promptly for their construction, renovation, or extension needs.