BHBFC to cut flat loan interest to single digit
BSS
Bangladesh House Building Finance Corporation (BHBFC) plans to lower the interest rate for its flat loan scheme to single digit as some private banks have already cut the interest rates on flat loans, reports BSS.
Well soon send a proposal to the Bank and Financial Institutions Division of the Ministry of Finance for bringing down the interest rate for flat loan to single digit, said a BHBFC official.
Some leading private banks and financial institutions, including BRAC Bank, Eastern Bank, Standard Chartered, City Bank, IFIC, have already brought down the interest rates on flat loans.
Talking to the news agency, chairman of the board of directors of BHBFC Sheikh Aminuddin Ahmed said BHBFC cut the interest rates for house building and flat loans at the beginning of this year. The interest rate for house building was brought down to 9 per cent from 12 per cent while the interest rate for flat loan was fixed at 10 per cent.
Were now thinking to adjust the interest rate with the market, said Aminuddin Ahmed.
He said the board of directors will finalize a proposal in this regard for sending it to the Bank and Financial Institutions Division.
In April this year, BHBFC increased loan ceiling to Tk 80 lakh from Tk 40 lakh for flat purchase and reduced the interest rate to 10 per cent from 12 per cent for borrowers in Dhaka and Chittagong metropolitan areas.
