10 Best Banks for Home Loan in Bangladesh
Top 10 Banks for Home Loan in Bangladesh
Here are the well-researched 10 best banks for home loan in Bangladesh. At a certain rate of interest to be paid with the EMI every month, a home loan is an amount of money that an individual borrows from a bank or money lending company and this way the definition of a home loan is defined. In this case, the property can be commercial and/ or personal in nature.
The lender will possess all the legal rights to recover the outstanding loan amount by sale of the property in question when the borrower cannot pay the dues. And you may need a home loan if you’re planning on buying a property for the first time. It may be needed either as an investment or a home in which to live. This is because you need to find out the best banks for home loans in Bangladesh.
Banks for Home Loan – Types of Home Loans
Before taking one out, it’s worth understanding exactly what a home loan is and what it involves. Also, it’s essential to know the types and terms and conditions of the banks as you’re looking for the best banks for home loans in Bangladesh.
You can buy a house or apartment that’s already built; purchase a property ‘off the plan with a home loan. Moreover, home loans should be used to buy a buy a block of vacant land to build on. Well, let’s see what the types of home loans are so that you can find out which one is suitable for you.
Type of Home Loans
- Home Purchase Loan: If you’re going to purchase a home then this loan is for you.
- Home Improvement Loan: When you need to repairs of your home or even renovation, you can take this loan.
- Joint Home Loan: As this loan is taken by two people, spouses can apply for joint home loans, for example.
Home Construction Loan: When you are building a new house, this loan comes in handy.
- Land Purchase Loan: You can avail this loan when you’re wishing to buy a plot of land for constructing his/her own house.
- Home Extension Loan: If you’re planning to have another floor then this plan is for you.
What are the Top 10 Best Banks for Home Loan in Bangladesh?
For a country, a bank is the main transactional method. And it’s known to all that Bangladesh is one of the developing countries of all over the world. This is because it’s simple that here are needed the homes and construction works.
And where there are home construction works, there are needs of home loans. That’s why people need to search the best banks for a home loan in Bangladesh. And now, let’s know who the best is in Bangladesh for home loans.
Do you know? Top 10 Student Friendly Banks in Bangladesh
1. Islami Bank of Bangladesh
One of the top level and popular Banks in Bangladesh is the Islami Bank Bangladesh Limited, which was incorporated on 13 March 1983 as a public limited company Act 1913. Among the shareholder of this bank, there are 36.91% local and 63.09% foreign. Not only the number one but most famous bank in Bangladesh is Islamic Bank Bangladesh Limited.
For savings and interest, it maintains the rule of Islamic Shariah. Apart from many types of banking, home loans are one of their services that they offer. As one of the home provider, the bank was featured on most famous Bangladeshi Newspapers like Prothom Alo Daily Newspaper, Ittefaq, etc.
2. Dutch-Bangla Bank Limited DBBL
DBBL is a bank not only best for the home loan but also business loan. Dutch-Bangla Bank Limited DBBL is not only known as one of the most popular but called first service provider banks in Bangladesh. From Teknaf to Tetulia, it has a large network all over Bangladesh. Along with many other services, the bank comes with different types of home loans for their clients.
This is because the bank is one of the best banks for a home loan in Bangladesh. Moreover, the Bank has 165 Branches 4417 APM both and Bangladesh’s first joint venture bank in its 21 years’ banking. These all made it number 2 among the Bangladeshi banks.
3. HSBC Bank
The Hongkong and Shanghai Banking Corporation Limited are shortly known as HSBC Bank, which is one of the commercial and private banks in Bangladesh. After opening branches in 1996 in Bangladesh, HSBC is one of the top choices of Bangladeshi people. These all were possible as they are providing clients with friendly financial service are on the Bangladeshi people. That’s why it’s one of the best banks for a home loan in Bangladesh.
4. Prime Bank – Banks for Home Loan
As it comes with more than 60 branches, the bank fully follows the international stander finance and banking system. Apart from these, it achieves the ICAB National Awards in 2002. These all made is the best bank among many other local and international banks in Bangladesh. One of the popular private banks in Bangladesh is the Prime Bank, which comes with various banking services. These include home loan services along with –
- Banking service,
- Retail banking,
- Corporate banking,
- Investment banking,
- Islamic banking,
- ATM services
5. Standard Chartered Bank – Banks for Home Loan
There is the business class banking service in Standard Chartered Bank. As the bank has over 80,000 staff in 68 countries, it’s truly an international bank. As s a British transnational banking and money services company, it’s head office in London. Like others, it’s one of the best banks for a home loan in Bangladesh.
6. BRAC Bank – Best Banks for Home Loan
As the BRAC Bank is the famous private Bank in Bangladesh, it’s one of the best banks for home loans in Bangladesh. Sir Fazle Hasan Abed is the founder of the bank, which comes with different home loans along with other loans.
7. Bank Asia – Great Banks for Home Loan
Although Bank Asia is one of the new banks, the bank is another faster transactional service provider bank in Bangladesh. As the name of Bank Asia, it’s a private bank and people known it. Apart from these, this is a nice choice for home loans.
8. Eastern Bank Limited EBL
Eastern Bank Limited is not only famous for provided SME banking, green banking, and financial retail banking but offers home loans as well.
9. City Bank
Titling with “making sense of money”, City provides all kind of banking system with internet banking. This is because it’s another good option for home loans.
10. National Bank
National Bank is one of the famous banks, which was founded in 1983. Because of these, it’s included in the list of top 10 best banks for home loans in Bangladesh