Let your home work for you with HSBC's Home Equity Loan. (Bangladesh)

 HSBC's Home Equity Loan - an opportunity for you to release some of the value tied up with your home. Whether you want to renovate your home or expand your own business, you can potentially receive cash against the equity in your home.
Features:

•      No personal guarantee or cash security

•     Wide range of loan amounts -

         - Minimum: BDT500,000
         - Maximum: 60% of the apartment/building value (subject to a cap of BDT 7,500,000)

•   Loan facility against your residential apartment or building

•     Competitive interest rates

•      Interest is calculated on monthly reducing balance

•     Low processing fees

•     A wide range of loan purposes - purchase of land, apartments, office space, renovation, extension or construction of houses, shops etc, education expenses for children and many more

•     Clubbing of income is allowed for immediate family members i.e Husband-Wife, Father-Child, Mother-Child etc.

•      More flexibility with a loan tenure of maximum 10 years

•     Options for partial prepayment and early settlement

Eligibility

1.      Age: At least 23 years
2. Professional Experience:

         - Salaried: Employed for at least two years by a well-reputed company
         - Self-employed: Business establishment for at least two years (with adequate proof)
   
    3. Minimum Monthly Income: BDT50,000


Requirements

    * The concerned apartment/house must be occupied by the owner
    * Age of the property must not be more than 20 years
    * Property valuation and vetting cost must be borne by the customer
    * Registered mortgage in favour of HSBC and original title deed
    * Irrevocable General Power of Attorney (IGPA) in favour of HSBC
    * Property insurance covering fire, earthquake, flood, and cyclone
    * Documents stated in the Application Form

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