SMBL Shimanto Nibash

Everyone dreams of owning a home. To transform that dream into a reality, Shimanto Bank Limited introduces Shimanto Nibash, a home loan tailored for all types of general banking clients, offering exclusive benefits.

EMI Based Term Loan for:

  • Purchasing Flat/Apartment/House for residence.
  • Extending existing house.
  • Constructing a new house.
  • Renovating House/flat/apartment.
  • Taking over existing home loan/home credit/Mortgage loan.

SMBL Shimanto Nibash Features:

  • Available for Salaried Persons/Businessmen/Landlords.
  • Loan Amount: BDT 5 Lac to BDT 2.00 crore.
  • Interest rates:
  • 8.25% for BGB.
  • 9.00% for General Customers (floating) – Fresh Loans & Take Over.
  • Debt-Equity Ratio: 70% : 30%.
  • Loan Processing Fee:
  • 0% Processing fee for Take-Over Loans.
  • 0.50% for Fresh Loan Application Processing Fee.
  • Repayment Tenor: 12 months to 300 months.
  • Collateral/Security: Registered Mortgage, tri-partite or four-party Agreement.
  • Borrower Eligibility: Bangladeshi citizens.
  • Age: 25 years to 65 years. For salaried individuals, 65 years or retirement age, whichever is earlier.
  • Salaried Person requires a minimum of 2 years’ experience.
  • Gross Income Minimum: Tk. 30,000/ (Tk. 40,000/= for joint Applicant).
  • Co-Applicant Eligibility: Spouse, father, mother, son, and brother only, with co-applicant being mandatory.

Documents Required for Shimanto Nibash:

  1. Four copies of photographs duly attested for both the applicant and co-applicant.
  2. Salary Certificate not older than three months.
  3. Individual Visiting Card and office ID Card.
  4. TIN certificate and payment receipt for both the applicant and co-applicant.
  5. Copy of NID or Passport for both the applicant and co-applicant.
  6. Utility bill copy, updated and not older than three months.
  7. Personal Net Worth statement of both the applicant and co-applicant.
  8. All existing loan documents, loan-related offers, sanction letters, and one-year loan account statement.
  9. Latest 12 months Bank Account Statements.
  10. Any other income along with supporting documents.
  11. Proposed Mortgage Property-related documents, including all legal documents.

Frequently Asked Questions (FAQs) – Shimanto Nibash Home Loan

Q: What is Shimanto Nibash?
A: Shimanto Nibash is a specialized home loan offered by Shimanto Bank Limited, designed to help individuals fulfill their dream of owning a home.

Q: Who is eligible for Shimanto Nibash?
A: Bangladeshi citizens who meet the age criteria of 25 to 65 years, with a minimum income requirement, can apply for Shimanto Nibash. Salaried individuals need to have a minimum of 2 years’ experience.

Q: What types of properties can I finance with Shimanto Nibash?
A: Shimanto Nibash provides financing for various types of properties, including flats, apartments, houses for residence, extension of existing houses, new house construction, and renovation of houses/flats/apartments.

Q: What is the loan amount range for Shimanto Nibash?
A: The loan amount for Shimanto Nibash ranges from BDT 5 Lac to BDT 2.00 crore, depending on the applicant’s eligibility and requirements.

Q: What are the interest rates for Shimanto Nibash?
A: The interest rates for Shimanto Nibash are 8.25% for BGB and 9.00% for General Customers (floating) on Fresh Loans & Take Over.

Q: What is the repayment tenor for Shimanto Nibash?
A: The repayment tenor for Shimanto Nibash ranges from 12 months to 300 months, providing flexibility for borrowers to choose a suitable repayment period.

Q: What collateral or security is required for Shimanto Nibash?
A: Collateral or security for Shimanto Nibash includes registered mortgage, tri-partite, or four-party agreement related to the proposed property.

Q: What documents are required to apply for Shimanto Nibash?
A: The required documents for Shimanto Nibash include photographs, salary certificate, individual visiting card and office ID card, TIN certificate, NID or Passport copy, utility bill copy, personal net worth statement, existing loan documents, bank account statements, and related property documents.

Q: Are there any processing fees for Shimanto Nibash?
A: Shimanto Nibash offers a 0% processing fee for Take-Over Loans and a 0.50% processing fee for Fresh Loan Applications.

Q: Can I have a co-applicant for Shimanto Nibash?
A: Yes, applicants can have co-applicants, including spouse, father, mother, son, and brother, but having a co-applicant is mandatory.

Q: How can I apply for Shimanto Nibash?
A: To apply for Shimanto Nibash, visit any branch of Shimanto Bank Limited and consult with the loan officer. They will guide you through the application process and assist with the required documentation.

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