Jumbangla Desk: Low-income people can now borrow up to 27 lakh taka under a new product of Bangladesh House Building Finance Corporation (BHBFC) to build a house. This product named 'Swapnid' was officially launched on March 19.

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This loan can be availed for construction of house or house of more or less 1000 square feet. However, to get this loan, 10 percent of the customer has to keep with himself. That is, if there is own investment of 3 lakh rupees, this government institution will give a loan of up to 27 lakh rupees for the construction of that house.

Sheikh Mohammad Salim Ullah, Secretary of the Financial Institutions Department of the Ministry of Finance, officially inaugurated the product at the BHBFC building in the capital. This information has been given in a press release.

Two types of interest rates are fixed for this loan on the basis of area.

According to BHBFC, for this loan, the borrower outside Dhaka and Chittagong City will have to pay interest at the rate of 8 percent per annum. In that case, the monthly installment of this loan for 25 years will be 771 taka 20 paisa for every 1 lakh taka. On the other hand, if any customer wants to take this loan within Dhaka and Chittagong city area, the interest rate for them will be 9 percent. In that case, the monthly installment for a period of 25 years will be 839 taka 20 paisa.

Borrower can take another loan under 'Dream' product. In this case, a maximum loan of 19 lakh 50 thousand rupees will be available for the construction of a single unit of a multi-storied building.

According to BHBFC, customers will get discount on application and inspection fee if they take this new loan. In the case of other loans, where Rs.6 per thousand is to be paid, the application and inspection fee for this loan will be half, i.e., Rs.3.

In the speech of the chief guest, Sheikh Mohammad Salim Ullah said that the Swapnid product will play a role in building dream homes for government and private teachers, employees of educational institutions, registered health workers, lab assistants and low-income employees working in various government and private offices.

BHBFC Chairman of the Board of Directors. Salim Uddin said, a large population of special classes and occupations of the society will greatly benefit by taking this financing facility to build safe residential houses at affordable prices.

Managing Director of BHBFC. Abdul Mannan in his welcome speech urged everyone to work sincerely to reach Swapneed to the low income people.

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BHBFC is the only specialized agency of the government to provide loan and investment support for home construction and has been working in housing construction for more than seven decades. This government agency provides long-term loans on easy terms. Swapneed is the 12th product of BHBFC introduced for disbursement of loans.