Features:

• Facility available for the purchase of residential apartments or houses
• Facility amount ranges from BDT 5,00,000 to BDT 2,00,00,000
• Facility tenure ranges from 1 to 25 years
• Up to 70% of the property value can be financed
• Income of co-applicants can be aggregated
• Competitive pricing structure
• Quick and simplified processing and approval procedures
• Facility available for apartments under construction
• Options for partial or early settlement are available
• No processing fee is charged
• Free from any compounding calculations
• No fee is applicable for early or partial settlement

Eligibility Criteria:

• Any financially capable individual is eligible
• Minimum age: 25 years
• Maximum age: 70 years or retirement age (whichever is earlier) at the time of facility maturity
• For 100% cash-covered facility:
  • Minimum age: 21 years
  • Maximum age: 70 years
  • (Applicable to both applicant and co-applicant)

Minimum Income Requirements:

• Government staff: Minimum BDT 25,000
• Salaried individual: Minimum BDT 40,000
• Self-employed individual: Minimum BDT 50,000
• Businessperson/ Landlord/ Landlady/ Other income individuals: Minimum BDT 50,000

Experience Requirements:

• Salaried person: Minimum 3 years of work experience, with at least 6 months in permanent employment status
• Self-employed individual: Minimum 3 years of practice in the relevant profession
• Businessperson: Minimum 3 years of involvement in the same type of business

Facility Takeover Plan

An exclusive opportunity for creditworthy customers of other banks to transfer their existing home finance to MTB Islamic Home Finance with special privileges.

Eligibility:

• Minimum of 12 months’ EMI repayment history with the existing bank
• Property location and other eligibility criteria must comply with general financing requirements

Benefits of the Takeover Plan:

• Facility to avail additional financing amount over the existing outstanding amount
• No processing fee is applicable on the takeover financing amount

Required Documents:

• Duly filled facility application form
• Copy of National ID/Driving License/Passport of the applicant
• Recent studio photographs of the applicants
• Salary certificate (for salaried individuals)
• Valid trade license (for businesspersons)
• Personal and business bank account statements for the last one year
• TIN certificate of the applicant
• Copies of sanction letters and repayment history of all existing fscilities for the past one year
• Rental deed and ownership deed of rented property (if applicable)
• Apartment allotment letter, deed of agreement, or property ownership deed
• Copies of all other property-related documents