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A home loan is the credit provided by a bank so that an individual can buy a property. It can only be used to get a home. The loan is repaid each month until the principal is cleared in full along with the interest.

Usually only fixed-interest loans are available, with monthly repayments on a reducing balance basis. Interest is calculated on a monthly reducing balance rather than an annual one. As the market develops, adjustable-rate loans may become possible.

Contact your bank or its customer care line and ask for the home loan department. The bank approves applications at its own discretion, and a qualified mortgage advisor can help you complete the application. Property Index can also guide you through it.

You will need the original property title deed in your own name, property insurance covering fire, earthquake, flood and cyclone, and the Irrevocable General Power of Attorney (IGPA). Your bank will confirm the full list.

Yes. Joint applications are possible; married couples show the marriage certificate to the bank as evidence.

Usually no more than 70% of the property valuation can be borrowed, and this includes the registration cost.

EMI (equated monthly instalment) is the amount you repay each month until the loan is cleared. Enter the loan amount, the period and the interest rate in our calculator to see how much you will repay each month.

Home loans are available from large local and international banks and financial institutions, such as HSBC, DBH, BRAC, IFIC, DBBL and others. It is also worth checking whether you qualify for a loan from the Bangladesh House Building Finance Corporation.

Repayments are monthly instalments. You choose the tenure, usually between 5 and 25 years, and the amount is typically debited automatically from your account.

In most cases the bank offers a partial or early settlement facility, so you can pay off the loan as quickly as you wish. Ask your bank about any early-settlement fee.