IFIC Bank Home Loan

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bank summary

The International Finance Investment and Commerce (IFIC) Bank Limited is a private commercial bank in Bangladesh, established in 1976. The major portion of the bank’s shares were owned by the Government of Bangladesh, but later in 1983, the bank shifted into a full-fledged commercial bank.

interest rates

9%

eligibility criteria

- Minimum age of 22 years and maximum age of 65 years.

- Minimum salary of BDT 35,000.

features

- Loan Amount: 70% up to BDT 2 crore

- Loan tenure: 1 year to 20 years (Professional)/ 25 years (Salaried)

- Loan processing fee: 0.50% through Bproperty

- Property or life insurance is not mandatory

fee structure

- 0.05% of Property Valuation as Property Valuation Charge

- 1% Early Settlement Fee

- 3% Late Payment Fee on Outstanding Amount

documents required

- 2 copies of passport size photographs

- Letter of introduction for salaried individuals

- Bank statement for last 12 months

- All loan statement for atleast last 12 months

- Credit card statement for last 6 months (if any)

- Salary Certificate/Trade License/ Professional certificate/ MOA/ Form XII

- Copy of E-TIN

- Copy of Utility Bill for the last 6 months

- Copy of NID- Approved plan & plan approval letter from the concerned authority

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