Teachers and staffers of four public universities will receive subsidized home loan facility from next month, an official of home loan cell of the Finance Division said on Monday.
Four public universities are: Dhaka University, Chittagong University, Shahjalal University of Science and Technology, Sylhet (SUST), and Sylhet Agriculture Univesity (SAU).
Teachers and staffers will receive the home loan facility from respective state owned banks and financial institutions. They will utilize the loan for buying flat at low interest, the official also said.
According to the home loan cell under the Finance Division, authorities of four universities signed agreements with two state run banks and financial institutions on November 5. State owned Sonali bank signed agreements with Dhaka University and SUST while Bangladesh House Building Finance Corporation and Rupali bank signed agreements with Chittagong University and Sylhet Agriculture University.
Farid Uddin Ahmed Vice-Chancellor of SUST and also the President of the Federation of Bangladesh University Teacher's Association (FBUTA) said’ “It is a good news for public universities teachers and officials as they will be able to buy flat at low interest rate”.
He also said that the university teachers and staff from the villages and small towns will get maximum financial benefit from the fund.
On December 28, 2019, a circular on home loan policy signed by Finance Secretary Adbul Rouf Talukdar was issued. According to the circular, teachers and staff of public universities will get home loan till the age of 64.
They will enjoy a loan facility of maximum Tk 75 lakh with 5 per cent subsidized interest rate and the lowest ceiling of Tk 30 lakh. The grace period of the loan is six months and the repayment period is 20 years.
State-owned commercial banks and the Bangladesh House Building Finance Corporation will provide the loan facility.
Earlier, it was stated that a permanent government employee serving for five years and not crossing the age limit of 56 years would qualify for the home loan facility following scrutiny by the loan providers.
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