HPSM -Car Investment

For private or commercial use private car or machinery for industry may be procured having investment from National Housing Finance PLC-Islamic Wing. In this purpose the client has to provide a portion of his equity.

Investment Limit

• Considering the repayment capacity of the client 70% of total cost of home/apartment purchase or 50% of construction cost is invested. Purchasing of commercial space/chamber/vacant housing plot 50% of procurement cost is sanctioned

Tenure of Investment

• Maximum tenure of Investment is 20 years. But this tenure will not cross the age of the client for 65 years or date of retirement. In case of Investment for procurement of commercial space/chamber/housing plot maximum tenure is 10 years

Rate of Rent

• National Housing Finance PLC-Islamic Finance imposes comfortable and competitive rate of rent in their investments. This rate of rent is variable regarding the change of rate of return of NHF-Islamic Wing

Disbursement of approved investment amount

• We do not disburse any amount to the client directly. Rather disburse the approved amount to the seller on behalf of the client. In case of construction approved amount is disbursed considering the development of construction work

Process of repayment

• The client will repay the investment received by him in Equal Monthly Installment (EMI) consisting principal investment and the rent imposed on it. To the purchased/constructed asset rentable for comfortable repayment of the client gestation period for 3-6 months may be allowed. No repayment is mandatory during gestation period

Repayment before expiry

• Client may adjust the total liability or a part of it before expiry. In this event to advance rent is charged. It there is no overdue rent only principal amount to be paid. By payment of Tk.1,00,000/- only size of installment may be re-fixed. Applicable fee will be applied in such case

Investment application process

• Investment application form may be collected from any branch of National Housing Finance PLC. Complying the rules the application to be submitted. The case of joint owner of the asset or more than one applicant particulars of all applicant to be furnished

Fees & Charges

• Applicable fees and charges to be deposited with the application

Security

• The asset to be procured or constructed having investment from National Housing Finance PLC will be mortgaged in favor of it. All deeds are released after full adjustment of dues of the client