The New Nation - Internet Edition

GSP Finance Company (Bangladesh) Limited signed a participation agreement with the Bangladesh Bank (BB) to extend home loan facility to lower and middle-income groups of borrowers in the city recently.

The scheme under the style of "Bangladesh Bank Refinance Scheme for Housing Sector" has been introduced by Bangladesh Bank through ACSPD (Agricultural Credit and Special Programmes Department of Bangladesh Bank) for providing loans to lower and middle income groups of people of 6 (six) Divisional cities including 4 (four) municipal towns-Tongi, Gazipur, Savar and Narayanganj of the country to purchase house or apartments with unit size of 1250 sft. or less. The loan bears interest @ 10% per cent annum and it is repayable within a tensure of 20 years with one year's grace period.

A person who does own a house/apartment in his name or spouse or children in the mentioned areas and whose regular gross monthly income does not exceed Tk. 30,000.00, may receive a maximum amount of Tk. 15.00 lakh as home loan facility.