Apply For Flat Purchase Loan Bangladesh : Pubali Bank Limited

Name of the Organization : Pubali Bank Limited
Type of Facility : Apply For Flat Purchase Loan
Country : Bangladesh

Website : http://www.pubalibangla.com/Flat-Purchase-Loan.asp

Pubali Bank Apply For Flat Purchase Loan

General Information:
This product will allow flat financing to the customer segment in terms of bank’s policy. Under this scheme, the flat is registered to the bank only.

Related : Pubali Bank Bangladesh Apply For Household Durable Loan : www.statusin.org/6712.html

In addition to this registration requirement, on a case to case basis, banks may also wish to secure the loan partially by the commonly acceptable form of cash/quasi cash securities available in the market.

Customer Segment:
Any Bangladeshi individual and non-residential Bangladesh (NRB) who has the means and capacity to repay bank loan. In specific terms, these could be salaried executives of multinational and middle to large size local corporate, Government officials, Officials working in reputed NGOs (Non Government Organisations), international aid agencies & UN bodies, any tax paying businessmen of repute, any employed / self-employed tax-paying individual having a reliable source of income.

Purpose:
To purchase a flat for residential purpose in a residential/ commercial area having all amenities/ facilities like water, electricity etc.

Loan Size:
50% of the flat value, maximum 25 Lac (which is lower).

Loan to Price Ratio:
Loan amount can not exceed 50% of the flat price.

Security/ Collateral:
** Registered mortgage of the flat.
** Personal guarantee of a respectable man acceptable to the bank.
** Post dated cheques for each monthly installment
** One undated cheque for full loan value including full interest to be taken in advance.

Legal Documents:
** Demand Promissory Note (Joint and single)
** Upto date non-encumbrance certificate,
** Memorandum of deposit of title deed, Registered Mortgage,
** Registered Power of Attorney, Approved plan with authority letter from competent authority.
** Clearance certificate from developer/seller regarding payment of all dues for handover of possession and other supporting papers and documents. 4 (four) party agreement to be executed.

Penal Interest:
Penal interest shall be charged @ 2% over the normal rate on the defaulted installments.

Maximum Term of Loan:
8 Years, 10 Years, 12 Years & 15 Years

Repayment Method:
Equal Monthly Installment.

Disbursement Mode:
Disbursement will be made through Demand Draft/ Payment Order directly to the seller/ developer.

Debt Burden Ratio (DBR%):
50% of Net Income

Disbursement pre-condition:
Comprehensive Insurance coverage, registered mortgage of the flat, registered power of attorney must be in place before giving the Demand Draft /Pay Order.

Substantiation of Income:
** Proper substantiation of income will be mandatory.
** All or any of the following original / true copy of original (accepted only after seeing the originals) documents are accepted for the purpose:
** Last Tax Return
** Bank Statements for minimum last 6 months
** Personal Net-Worth Statement
** Any other document that may stand as a proof of income

Developer/ Seller:
Must be well reputed and member of REHAB

For any query please Contact at:
Tel: (PABX) 9551614
FAX: 880-2-9564009 or
Email us at gsdd@pubalibankbd.com