Real Estate Investment Program (REIP)

Objective

i. To ease the housing problem in the urban areas.
ii. To make arrangement for comfortable accommodation of the fixed income group.

Target Group

Land lords, service holders, businessmen, professionals, expatriates etc.

Nature of Goods / Items

Construction of building, purchase of flats / ready made building, extension / renovation of house, installation of lift, generator, sub station etc.

Mode of Investment

Bai-Muajjal / HPSM

Period of Investment

Maximum 15-years

Rate of Return

15.00% or rate to be determined by the Bank from time to time.

Amount of Investment

a)For Construction, up to 60% but not to exceed Tk.10.00 million
b) For purchase of Flat / Apartment up to 50% but not to exceed Tk.7.50 million.
c) For purchase of Ready-made House, up to 50% but not to exceed Tk. 10.00 million.

Bank's Participation

60% for construction & 50% of cost price for purchasing flat (but not exceeding Tk.7.50 million)

Age of Clients

Maximum 65-years.

Security

Registered mortgage on land / building / flat, Personal Guarantee(s), MSS / TDR as additional security etc.

How to Apply

Application Form shall have to be collected from nearest Branch of Islami Bank Bangladesh Ltd.

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