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TERM FINANCE

We are providing longer term cash financing to support your BMRE projects, construction requirements, capital expenditure etc.

PRODUCT FEATURES

  • Financing up to 80% of your project cost
  • Equal monthly or structured repayment facility
  • Competitive pricing
  • Loan tenure upto 5 years
  • Early payment is allowed
  • Flexible repayment matched with your cash flow.

Why Choose United Finance

STRONG NATIONAL FOOTPRINT

19 business officess across the country located in major divisional areas to serve You.

IN OPERATION SINCE 1989

Operating for more than 2 decades, with reputation, in the financial industry of Bangladesh.

SERVICE AT YOUR DOOR STEP

Our team of Service Managers are always there dedicated to work as an advisor of You.

DIVERSIFIED FINANCIAL PRODUCTS AND SERVICES

Catering the need of individual to institutional investors' deposit, working capital and asset financing.

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We will determine your loan eligibility largely by your income and repayment capacity. Other important factors include your age, family expenditure, household income and also the stability of your occupation. After deciding upon your loan eligibility we will determine finance amount considering the security coverage and project cost.

Anyone who is related with the property or direct beneficiary such as parents, spouse or children can be a co-applicant.

You can apply for a Home Loan at any time once you have decided to purchase or construct a property, even if you have not selected the property or the construction has not commenced.

You could collect an application form from our nearest office or simply download it from our website and submit it yourself along with the supporting documents at any of our branch office that is convenient to you. Or you may submit your details through our website or express your interest at our call center and we will contact you.

Security of the loan would generally be mortgaged on the property being financed by us and / or any other collateral security as may be required by us.

Encumbrance on a property refers to claims or charges on the property due to liabilities such as unpaid loans and bills. It is critical that during loan processing we consider properties which are free of encumbrances of any sort.Therefore, Non-Encumbrance Certificates are required to be collected from land office.

Market value refers to the estimated amount for which a property should be exchanged on the date of valuation, as per prevailing market conditions.

Yes, you will have to ensure that your property is duly and properly insured for fire and earthquake hazards during the loan period. You will also have to produce evidence thereof to United Finance, each year and/or whenever called upon to do so. United Finance should be the beneficiary of the insurance policy.

Once we receive your request for disbursement, we will disburse the loan in full or in installments, which usually do not exceed four in number. In case of an under construction property, we will disburse your loan in installments based on the progress of construction, as assessed by us.

You can take disbursement of the loan once the property has been technically appraised, all legal documentation has been completed and you have invested your Own Contribution in full.

‘Own Contribution’ is the total cost of the property less United Finance’s loan.

Yes, we allow grace period during the construction phase and the disbursement is made in different tranches subject to your construction plans. During this period, principal recovery in the form of EMI (Equated Monthly Installment) is not started for your benefit protection. At this stage, interest is accrued only on disbursed amount and that is known as Interest During Construction Period (IDCP). IDCP is encouraged to be paid in monthly; otherwise it is adjusted from the final disbursement. IDCP rate will not be changed during the grace/moratorium period.

At the point of final disbursement, the facility is executed; and immediately after one month of execution, the repayment in the form of EMI (Equated Monthly Installment) started. Executed loan amount is the total disbursed amount during the construction period.

EMI refers to the ‘Equated Monthly Installment’ which is the amount you will pay to us on a specific date each month till the loan is repaid in full. The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

For your convenience, United Finance offers BEFTN (Bangladesh Electronic Fund Transfer) for repayment of the loan. You have to issue a BEFTN authorization to your bank which will allow us for direct deduction of monthly installments from your account.

Yes, you can increase the installment size anytime you want and can reduce the loan tenure.

Any amount received from you will be adjusted with interest first and the rest with the principal. In case of lump sum payment we will reduce the loan tenure, not the installment size. Purpose of which is to reduce your interest expense.

Yes, you can repay the loan ahead of schedule by making lump sum payments, partial or full, subject to the applicable schedule of fees & charges.

Yes, you can avail top-up options with your existing facility for the purpose of renovation or extension of the property.

Yes, you can apply for a loan to us for repaying a Home Loan availed by you from another Bank/FIs or even your employer. For more details on ‘Balance Transfer’ kindly contact our nearest office.

Yes. You are eligible for tax benefits on the interest components of your Home Loan up to Tk.20 lac under the Income Tax Ordinance 1984, section (25) and sub section (1). Annual interest payment of home loan would be deducted from the total taxable income; thus total taxable income would be reduced.

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Documents Need to Apply

  • Sales ledger or party ledger of 06 months (minimum) to 12 months (maximum)
    depending on payment cycle of customer
  • Bank statement for the equivalent period
  • Business operations summary with your customer
  • Sample copy of work orders, invoice etc
  • Loan application duly signed by you
  • CIB undertaking

Required Documents for Credit Visit

Serial

Documents Proprietorship Concern Partnership Firm Private Limited

01

Updated Trade License
02 National ID of Directors

03

ETIN Certificate

04

Photograph of the Directors/Owners

05

Registered Partnership Deed

06

Memorandum & Article of Association

07

Form XII

08

Schedule X

09

Certificate of Incorporation

10

Board Resolution (as applicable)

11

Environment Clearance Certificate

12

Audited Financial Statements (latest 3 years)

13

Credit Rating Report (Latest)

Why Choose United Finance

STRONG NATIONAL FOOTPRINT

19 business officess across the country located in major divisional areas to serve You.

IN OPERATION SINCE 1989

Operating for more than 2 decades, with reputation, in the financial industry of Bangladesh.

SERVICE AT YOUR DOOR STEP

Our team of Service Managers are always there dedicated to work as an advisor of You.

DIVERSIFIED FINANCIAL PRODUCTS AND SERVICES

Catering the need of individual to institutional investors' deposit, working capital and asset financing.

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