The Bangladeshi government and commercial bank home loan interest rates are substantially higher than in neighboring India and many other nations. According to the IFC, if these residents are not given easy access to home loans, the housing situation would worsen.
According to research by a number of foreign organizations, including the World Bank and the International Finance Corporation (IFC), tough mortgage requirements combined with the lack of a universal lending system have made it even more difficult for Bangladeshi people to acquire an inexpensive property.
According to banking industry experts, interest rates for home loans in Bangladesh are determined by a combination of factors such as inflation, cost of funds, deposit rate, and so on. They suggest that if investments from the World Bank and other global lenders are brought in at a lower rate, house loan rates can be cut.
Most banks and NBFIs in Bangladesh specify a minimum monthly income of Tk40,000 for private jobholders, Tk25,000 for government employees, Tk50,000 for the self-employed, and Tk40,000 for landowners as the minimum monthly income for obtaining a home loan.
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