Bangladeshi property site BProperty has signed an agreement with Eastern Bank Ltd. to provide its users with home loans at a preferential interest rate of 10%, the company said.
The bank usually offers property financing at up to 13.5%, according to its lending rates sheet. BProperty said the loan facility makes financing affordable for its customers. A customer needs to pay an additional preferential processing fee of 0.50% to get the loan, a news report said.
Emerging Markets Property Group (EMPG) launched BProperty in June 2016. EMPG also owns and operates Zameen.com in Pakistan, Bayut.com in the UAE and Mubawab in Morocco.
PBazaar.com and Bikroy.com’s property vertical remained the company’s only two main competitors after BProperty acquired Lamudi.com.bd earlier this year.
Eastern Bank Head of Retail and SME Banking Khorshed Anowar and BProperty CEO Mark Nosworthy signing the agreement.