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ICB Islamic Bank Limited has been incorporated on April 1987 as a public limited company under the Companies Act, of 1913 to undertake and carry out all kinds of banking, financial and business activities, transactions and operations in strict compliance with the principles of Islamic Law (Shariah) relating to business activities in particular avoiding usury in credit and sales transactions and any practice which amounts to usury. Certificate for commencement of business has been issued to the bank on April, 30, 1987. The Bank has been authorized by the Bangladesh Bank to carry on the banking business in Bangladesh with effect from May 4, 1987. However, actual banking operations commenced on May 20, 1987.
Loan Types | Regular Conventional Home Loan & Saadiq Home Finance | Onboarding Rate For all disbursements (New and Top Up) |
---|---|---|
Takeover | All Segment of Clients | 9.50% |
Home Loan | All Segment of Clients | 9.50% |
- Minimum Age: 25 years>
- Minimum monthly Income: BDT 50,000 / month>
- Guarantor (if any): not required>
- Job/work experience: Confirmed employee having 01 year Experience.
- Age of Trade License or Business experience: Min 3 years>
- Finance up to BDT 2.00 Crore
- Finance up to 70% of property value
- Maximum tenor 25 years
- Property Insurance coverage
- Life Insurance coverage (MRTA)
- Competitive interest rate
- Advance/Partial prepayment allowed
- Property Age – Max 25 years at the time of sanction and Max 40 years at the end of finance tenor
- Shariah Islamic Finance
- Processing fee: 1% +15% vat for the clients of Bproperty
- Early settlement fee: 0.5% of the outstanding amount.
- Early settlement conditions: After 6 months of disbursement date.
- Partial/ Full settlement fee: 0.5% of the outstanding
- Partial settlement: Minimum 20.00% of the outstanding
- Full settlement: 0.5% of the outstanding
- Minimum BDT 50,000.00
- Salaried individuals
- Businessperson
- Landlord
- Professionals
- Minimum 03 year
- Maximum 25 years
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