The City Bank introduced ‘City Home Loan’ on Thursday at a press conference at a city hotel that was also attended by representatives of the country’s  top real estate developers. Under the loan scheme, a customer would be able to avail City Home Loan up to Tk 1 crore, the Bank’s top official said.

K Mahmood Sattar, managing director and chief executive officer of the Bank, formally launched the new loan scheme along with the Bank’s additional managing directors-- Sohail R K Hussain and Faruq M. Ahmed. Head of retail banking Zabed Amin was also present.

The loan scheme will also facilitate clients with other salient features, includimg repayment tenor up to 25 years, loan against property, financing up to 80 per cent of the property value, faster loan processing etc. The home loan will also allow customers to make their first installment payment after six months of availing the loan.

The Banks MD said, "Now a days with the growing demand of purchasing apartments by the customers, we recognised their needs and have come with Home loan product that will enable our customers to get loan up to Tk 1 crore, fulfilling the dream of having their own apartment or house.”

With the launch of City Home Loan, City Bank has again shown its serious commitment to introduce exciting retail products and services in the market, he added.

Source: The Independent/ Bangladesh/ 16th Dec 2011