BHBFC to cut flat loan interest to single digit

Bangladesh House Building Finance Corporation (BHBFC) plans to lower the interest rate for its flat loan scheme to single digit as some private banks have already cut the interest rates on flat loans.

“We’ll soon send a proposal to the Bank and Financial Institutions Division of the Ministry of Finance for bringing down the interest rate for flat loan to single digit,” a BHBFC official has said.

Chairman of the board of directors of BHBFC Sheikh Aminuddin Ahmed said BHBFC cut the interest rates for house building and flat loans at the beginning of this year. The interest rate for house building was brought down to 9 per cent from 12 per cent while the interest rate for flat loan was fixed at 10 per cent.

"We're now thinking to adjust the interest rate with the market," Aminuddin Ahmed added, according to BSS.