TBT Live update: BRAC Bank has introduced an affordable home loan product ‘Nijer Bari’ for the low and middle- income group people outside Dhaka city.

Sir Fazle Hasan Abed, Chairman, BRAC Bank Limited, formally launched the product at a programme recently at the bank’s headquarters in Dhaka by handing over the Loan Sanction Letter to Suriya Begum, who is the first customer of Nijer Bari, BRAC Bank said in a press release issued here today.

Shib Narayan Kairy and Dr. Hafiz G. A. Siddiqi, Directors, Syed Mahbubur Rahman, Managing Director and CEO, Firoz Ahmed Khan, Head of Retail Banking and senior officials were present on the occasion.

This product is the first of its kind in Bangladesh, which will help low and middle-income group people to have their own home.

The loan will initially be offered in Comilla, Joydebpur, Narshingdi Sadar, Narayanganj City, Savar, Gazipur, Tongi and Bogra.

Salaried, self-employed professional or businessmen and land- owners will be eligible for the loan for purchase of under- construction, completed or second hand flats, apartments, houses or construction and extension of houses. They will get up to Taka 20 lakh for a maximum period of 10 years.