The Ministry of Finance yesterday finalised a draft policy under which around 14 lakh government employees would get housing loans at low interest rates in line with the recommendations of last pay commission.
The decision came at an inter-ministerial meeting at Finance Division with its Secretary Mohammad Muslim Chowdhury in the chair.
Now, the draft policy will be placed before the cabinet for approval, Muslim Chowdhury told reporters after the meeting.
The loans between Tk 75 lakh and Tk 20 lakh would be disbursed in three categories on location as proposed.
The interest rate would be 10 percent, of which 5 percent will have to be given by the loan receivers while 5 percent would come from government's subsidy. The tenure for repaying the loans would be 20 years.