• Saturday, Dec 04, 2021
  • Last Update : 10:17 pm

Banks, housing to benefit from govt home loan policy

  • Published at 01:27 am March 12th, 2017
Banks, housing to benefit from govt home loan policy
The two sectors are not in a good shape, but will overcome the situation if around 2.1 million civil servants invest their loans there, he said, requesting anonymity. The government hopes that corruption among public servants will drop significantly if they own an apartment when they retire. Sources in Finance Division said that a committee formed in August last year will recommend 8% interest rate on the loan, 3% will be interest subsidy and the loanees will repay the rest. “The total interest subsidy will be Tk800 cr,” the official told the Dhaka Tribune, claiming that,the county’s banking sector currently has idle money worth Tk 1,20,000cr. Bangladesh Bank officials and staff are entitled to 5% interest rate on their home loans against their basic salaries and provident funds. Sources in the Finance Ministry said that the proposed home loan may have a ceiling of Tk10lakh for districts and rural areas, and Tk50lakh for Dhaka and other cities. Farashuddin Pay Commission had recommended a new home loan policy back in December 2015, which is yet two be finalised. When contacted, Rehab Vice President Liaqat Ali Bhuiyan said: “If the government  provides land at low price, realtors will offer 600-700 sft flats at up to Tk20lakh to civil servants.” He suggested that the idle money in the banks be used for building the state employees’ homes. Another Finance Division official linked to the process, also requesting not to be named, said that two sub-committees will submit their reports by March 31 and they were working full swing. Finance Division’s final report will be submitted to the concerned cabinet committee for its consent to implement the policy. Finance Secretary Hedayet Ullah Al Mamun said that he was trying hard to finalise the policy alongside the Sovereign Wealth Fund Act and separate public servant pension fund as top priority. The Public Works Ministry has already sent a proposal of Tk500 crore to the Planning Commission for providing loan to public servants to buy flats. According to Finance Division, there are currently 477,000 first class officers, 131,000 second class employees, 1.228 million third class and 267,000 fourth class.
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail