Renovation Financing

Obtaining financing for the renovation, maintenance or repair of structural or emergency defects or for the purpose of necessary additions or modifications to the housing owned by the applicant or a family member, as a complementary service for those who received a housing service earlier or who own a house and wish to restore it.

Eligibility

Age:
21 - 60

Monthly Income:
120 - 1,200

Maximum financing amount:
BD 20,000

Subject to the terms and conditions as per the housing regulations

Use of Financing

House renovation

House maintenance

Repair of structural or emergency defects

Construct necessary extensions or modifications

Terms

Repayment period up to 15 years

A period of 10 years has elapsed since the beneficiary has benefited from any housing services provided by the government or any other entity

That the applicant or at least one member of his family owns a share in the housing unit to be renovated, and it’s considered as the only housing unit owned by the family.

That neither the applicant nor any member of his family has previously received renovation financing for the housing unit specified in his request.

That the applicant has a regular record of paying the installments due on him, and that he does not have any outstanding debts to the Bank exceeding three months.

Financing can be obtained from the Ministry of Housing and Urban Planning