“Household Durables & others Scheme” (HDOS) is Shariah compliant investment product designed to offer investment facility to the different segment of peoples to meet their different household & other requirements.
This scheme is designed on the Hire Purchase under Shirkatul Melk (HPSM) concept of Islamic Banking.
Features:
Customer Segment:
- Employees of listed multinational, corporate & UN bodies, Bank / Financial Institutions, educational institution, NGO & Government Officials.
- Self employed (Land Lord), professionals and Businessman maintaining A/c with other bank.
Purpose: For purchasing house hold items for personal/ family use.
Age Limit: Minimum 25 years and Maximum 65 years
Minimum Income of the Applicant: Tk. 40,000.00
Investment Size:
- Minimum Tk. 100,000.00 & Maximum Tk. 500,000
- [Household Durables like Fridge, TV, Furniture & Fixture, washing Machine, Air Cooler and IPS]
Equity Participation: Bank 30%, Client 70%
Tenor:12-36 months
Debt Burden Ratio (DBR %):Debt Burden Ratio (DBR): shall be 40% of Net Monthly Income.
First Repayment Date: Generally, one month after the date of customer’s availing of the investment or erection of the asset item. May be earlier if customer wants.
- Photograph of applicant & guarantors.
- Business card of the customer & guarantor if available
- Salary certificate
- Photocopy of TIN Certificate.
- Bank Account Statement of Last Six months.
- Photocopy of Passport/ Driving License/ Ward/ Voter ID card/ commissioner Certificate, Telephone (T&T) Bill if any.
