Loan Against Property

Strive to meet your needs in a competitive and dynamic business environment. We understand that, as an SME, you require quick access to cash, and the flexibility to leverage your assets to fuel your business growth.

Loan Against Property provides the liquidity you need to grow your business or meet cash flow requirements. The loan enables you to leverage your property to obtain financing.

Features

Loan against property is very flexible and is designed to meet the different financial needs of your business. Want to expand your business leveraging on your existing property? With Loan Against Property you can undertake long term investments for expansion. In the process Loan Against Property also enables you to build up business equity by repaying the loan in monthly installments.

Documents

The following denotes the documents required for any business to apply for this loan:

Property Documentation Requirement:

1. For Government/Leasehold Land:
   1. Lease Deed/ Ownership Deed (photocopy)
   2. Baya Deed for at least 25 years, if any (photocopy)
   3. Development Agreement/ Joint Venture Agreement with the land owner/ developer
   4. Power of Attorney (if any)
   5. Power of Attorney Acceptance Letter from lessor of the property
   6. Mutation (any one)
      1. Mutation Letter from RAJUK/ CDA
      2. Mutation Letter from National Housing Authority (NHA)
      3. Mutation Letter from Ministry of Works
   7. Duplicate Carbon Receipt (DCR) with Mutation Order Sheet
   8. Up to date Municipality Tax Receipt
   9. Up to date Land Tax Receipt
   10. Non-Encumbrance Certificate (NEC)
   11. Approved Plan/ Layout Plan and Approval Letter by RAJUK/CDA/Concerned Authority
   12. Any other documents as advised by the bank’s lawyer
2. For Private/Freehold Land:
   1. Ownership Deed (photocopy)
   2. Baya Deed for atleast 25 years, if any (photocopy)
   3. Development Agreement/ Joint Venture Agreement with the land owner/ developer
   4. Power of attorney (if any)
   5. Recent Survey Report (i.e. Math Parcha Duly attested)
   6. CS, SA, RS Parcha (PS, BS, RS Parcha- only applicable for Chittagong)
   7. Mutation Parcha and Mutation Proposal Sheet
   8. Duplicate Carbon Receipt (DCR) with Mutation Order Sheet
   9. Up to date Municipality Tax Receipt
   10. Up to date Land Tax Receipt
   11. Non-Encumbrance Certificate (NEC)
   12. Approved Plan/ Layout Plan and Approval Letter by RAJUK/ CDA/ Concerned Authority
   13. Any other documents as advised by the bank’s lawyer

Please note that the above requirements are not exhaustive and the bank may require further documentation for credit assessment on a case to case basis.

Charges

• Loan Processing Fee: 1.5% of the approved amount
• Valuation Fee: BDT 5000 per property
• Legal fee: BDT 7000 property
• Early Settlement Fee: 5% on outstanding amount if repaid at any given time before maturity of the loan
• VAT and Stamp Charges: All charges and fees are subject to 15% VAT, to be paid by the customer. Stamp charge will be at actual to be paid by the customer.

Please note both valuation and legal fees are non-refundable and inclusive of processing fee of 1.5%+VAT of the loan. Both fees will be discounted from the said processing fee at the time of loan disbursement if the loan is approved by the bank, the facility is availed by the customer and the property(s) are mortgaged in favor of the Bank.