Padma Bank launches home loans

Padma Bank recently launched a slew of new home loan products designed as per the income of customers.

Of these products, NRB home loan, rural home loan, semi-pucca house and regular loan for the purchase of apartment or construction of house, a press release said.

Apart from these four, the bank will also provide loans for the renovation of apartments or houses.

NRB Home Loan product or Probashi Home Loan has been designed for remittance warriors, who can take a loan up to Tk 2 crore.

"We have already introduced auto loan and student banking services; we have received good response from the customers. In line with this, we have launched these new home loan products," said Rokibul Hasan Chowdhury, head of retail and SME banking at Padma Bank.

But the bank will provide loan up to Tk 80 lakh for rural home loan, which could be availed in the rural areas of the country.

The bank also introduced semi-pucca property financing solution, where up to Tk 50 lakh will be available.

Anyone aged between 21 to 65 years can apply for these loans. With two to three years of work experience, applicant's income has to be minimum Tk 25,000-Tk 50,000 depending on the nature of profession. Customer will get up to 25 years to repay the loan.