IHSAN Apartment Purchase Scheme & Barakat Home Construction Scheme

Purpose of the Investment

  • Purchase of Flat / Apartment / House for residence purpose; 
  • House Construction
  • House / Flat/ Apartment renovation;
  • Finishing Works;
  • Construction of Pucca Building under union parishad.

Features:

Any credit worthy individuals like:

  • Salaried Executives
  • Professionals: Doctors, Engineers, Chartered Accountant and Certified Consultants, IT Professionals etc.
  • Business Person
  • Land Lord / Lady
  • Freedom Fighters

Tenor: Up to 25 years(Must be within the maximum allowable age of the Applicant & property)

Investment Burden Ratio (IBR): Value Based IBR will be considered as follows based on Gross Monthly Income:

 

Income Range (TK)

IBR %

30,000 - 39,999

35%

40,000 - 49,999

40%

50,000 -69,999

45%

70,000 - 89,999

50%

90,000 – 149,999

55%

150,000 & above

60%>

Employment / Practice / Business:

• Salaried Executive: Minimum 3 years of service (including probation period) with 6 months employment with the present employer. Applicant must be confirmed permanent employee at the time of application.

• Professional: Minimum 3 years of practice in the profession as per BMDC / professional certification. • Businessman: Minimum 5 years of involvement in similar type of the business as per trade license.

• Land Lord: This segment consists of landlords / landlady, having a stable maintaining A/C for at least 6 (six) months with TBL or other bank. (Aggregate period), indicating source of earnings from rented premise(s). 12 months rent receipt / rent register should be produced in case of existing rental income. For Union Parishad: Expected rental income must cover 100% of EMI.

• Freedom Fighters: i. Proof of freedom fighting from authorized government authority. ii. Valid pension / honorarium receipt documents;

Income of Salaried Executives

• Minimum BDT 30,000.00 Gross Monthly Salary / Income. (If joint applicant income is considered, total aggregated Gross Income must be more than BDT 40,000.00 per month.

• Gross Monthly Salary / Income = Monthly Salary + 80% of other income only from rent received from House or shop / godoun etc. and such income should be substantiated.

• Note: Variable income, which are not paid in monthly basis, will not be considered as in gross Monthly salary / income component.

Income For Businessman, Professionals / Self-Employed / Landlord:

• Minimum BDT 40,000.00 per months. (Business income / salary / rental income/practice income)

• Gross Monthly Income: Monthly Income +80% of other income only from rent received from House or shop / godown etc. and such income should be substantiated.

Approved Plan & Deviation of Plan :

  • Approved Plan (Drawing) along with the Approval Letter (of the property) must be provided issued by concerned government Authority (RAJUK/ CDA/ KDA/ City Corporation/ Municipal Corporation / Union Parishad / Competent authority).
  • In case of Cantonment area Plan must be approved by Cantonment Board.
  • In case of Union Parishad/ Pouroshova Plan from LGED Engineer & NOC from Chairman of Union Parishad / Pouroshova.

Max Investment Limit:

  • For Purchase of Apartment or Flat or construction of House / Building- Maximum BDT 20.00 Million (Taka Two Crore only)
  • For construction of Pucca building under Union Parishad- Maximum BDT 5.00 Million (BDT Fifty Lac only)
  • Extension, Renovation / Modification, Finishing Work: BDT 5.00 Million (BDT Fifty Lac only) (amount may change as per Bangladesh Bank instruction).