DHAKA, Sept 25, 2018 (BSS) – The Finance Ministry today singed Memorandum of Understanding (MoU) with four state-own banks and the Bangladesh House Building Finance Corporation (BHBFC) to provide home loans with low interest rate to the government employees.
Finance Minister AMA Muhith attended the MoU singing function as the chief guest at the secretariat in the city. Additional Secretary of the Finance Ministry Dr Mohammad Zafar Uddin and managing directors of the four state-own banks and BHBFC singed the MoU separately on behalf of their respective sides.
The four banks are Sonali Bank Limited, Janata Bank Limited, Rupali Bank Limited and Agrani Bank Limited.
In his speech, Muhith said the government is providing all sorts of efforts to ensure accommodation for all.
“We achieved remarkable success in health, education and food security.
We also want to success in housing. Under the initiative, the government employees will remain tension free for accommodation after retirement,” he added.
He said the move would motivate government employees to be more proactive in their services.
Under the MoU, the banks and BHBFC will provide loans to the government employees based on their location and grade. They can now take loans starting from Taka 20 lakh to Taka 75 lakh.
Employees will get the loans at 5 percent interest rate and the government will give the additional interest to the banks as subsidy.
The loan will provide for 20 years.
Loans can be taken out for building houses and purchasing ready-made flats and whoever takes it should maintain their salary account with the bank from which the loan is taken.
Installments of the loan will be deducted from the salary every month.