The New Nation - Internet Edition

BUSINESS REPORT

To help meet the increasing need for finance in construction and purchase of residential units, Eastern Bank Limited (EBL) has officially launched a loan facility titled 'EBL Home Loan' under it's consumer banking. Formally launching the "EBL Home Loan" in a press conference held yesterday at a local hotel in Dhaka.

EBL Managing Director and CEO Ali Reza Iftekhar said, "Through launching this new loan facility we have fulfilled another commitment to our valued clients, and we have tried to keep the terms and conditions for this loan as simple as possible." Under the EBL Home Loan facility an applicant can take loan up to Tk 75 lakh for a maximum period of 20 years for apartn1ent purchase, home construction, extension or renovation. EBL is offering attractive interest rates for the loan borrowers.

For a loan amount of Tk 5 lakh to 15 lakh interest rate is 14 per cent; for Tk 15 lakh to 25 lakh, 14.25 per cent; for Tk. 25 lakh to 40 lakh, 14.50 per cent; and for Tk 40 lakh to Tk 75 lakh, 15 per cent.

As a special offer, existing home loan borrowers can transfer their loans to EBL at 0 per cent processing fee and the interest rate will be 1 per cent less than what they are paying now which is subject to certain terms and conditions.

Among others, EBL Deputy Managing Director Mamoon Mahmood Shah and Head of Marketing Nazeem A. Choudhury were present on the occasion.