Home loans for government employees at 5% interest from October 1

Four state-owned banks and Bangladesh House Building Finance Corporation (BHBFC) signed a memorandum of understanding (MoU) on Tuesday to provide government officers and employees with home loans at 5% interest rates.

In the presence of Finance Minister AMA Muhith, the managing directors of Sonali Bank, Agrani Bank, Janata Bank, and Rupali Bank signed the MoU with the BHBFC, reports UNB.

Finance Division Additional Secretary, Md Jafar Uddin, and the managing directors of four banks signed the MoU.

The government employees will be eligible to apply for home loans from October 1, said Finance Secretary (acting) Abdur Rouf Talukder.

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Government sources said it will take about two years to bring all government employees under this scheme. 

Finance Minister AMA Muhith said the 5% housing loan is a landmark step of the present government. 

All government employees were worried for their accommodation in the past. From now on they need not be worried, he said.

"We are still a little backward in the housing sector. Now we are giving emphasis to the housing sector to bring all the people under this accommodation scheme. But it will take some time," the minister added.