MDB Saalam Amar Bari
MDB Saalam Amar Bari is a Shariah-compliant home financing (semi-pacca) solution designed for individuals seeking to construction/renovation/extension/completion of existing residential house owned by the applicant(s), while adhering to Islamic banking principles.
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Details |
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- Facilitate to construction, renovation/extension completion of existing tin-roof/tally-roof/ concrete roof with brick wall/ brick walled residential house (semi-pacca) owned by the applicant(s).
- Finance Amount ranges from BDT 500,000 to BDT 5,000,000.
- Repayment tenure of 3 years to 10 years.
- Competitive rent/profit rate.
- No Processing fee for Take over home finances from other Banks/ Financial Institutions.
- Quick Finance processing.
- Early full settlement and partial settlement allowed.
- No hidden charges.
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| Eligibility |
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Eligibility
- Salaried Executives (Govt.): Must be confirmed employee.
- Salaried Executives (others): Minimum 2 years’ experience with 3 months’ employment with present employer.
- Businessman: Minimum 2 years’ business experience.
- Self Employed (Professional): Minimum 2 years’ professional experience.
- Landlord/Landlady: No experience.
Age
Minimum: 21 Years
Maximum:
Salaried: 65 years or retirement date as mentioned in Letter of Introduction (LOI) whichever is earlier at the end of finance tenure.
Self-Employed Professional, Businessman, Landlord: 70 years at the end of finance tenure.
Minimum Gross Monthly Income: Minimum BDT 30,000/- per month
Joint Application: Joint application allowed
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| Tenure |
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| Benefit |
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- No processing fee for takeover from other Bank & NBFI
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| Taxes, Duty, Surcharges |
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| Highest Amount |
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- Bank will finance maximum 70% of property value or BDT 50 lac whichever is lower as per Bangladesh Bank Guidelines (70:30 debt equity ratio).
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| Moratorium Period |
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- In case of financing for construction purpose bank may allow moratorium Period for 06 months (maximum).
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