How to get a home loan in Bangladesh

Want a home loan to buy a flat? Know where and how to get a home loan in Bangladesh.

Home loan or loan for buying a flat, has made solving the housing problem of people much easier. Housing is one of the basic human needs. People spend most of their money to fulfill these needs. Many people fail to build a house even with their entire lifetime earnings. But meeting the needs of the person depends a lot on his ability. It is almost impossible for many to build a house in an area that ensures all the comforts of living. But while building a house is impossible, owning a flat is not too impossible. Even if you don't have enough cash, you can own a flat.

Maybe wondering how is this possible? Yes, there are many real estate companies working to fulfill this dream. They are constructing multi-storied buildings to solve the housing problems of the people of the country. Selling flat. Developer companies are also keeping the demand and capacity in mind while constructing buildings or flats. Real estate companies are even providing loans to buy flats on easy terms. In this regard, Dom-Ino Developments is playing a leading role.

Do you want to buy a flat from Dom-ino with a loan ? But know what to do to get a home loan to buy a flat in Dhaka.

What to do to get a loan to buy a flat?

You can own a flat without cash. Even in Dhaka again! But you have to follow some rules and conditions. Only then the process of buying a flat will be accelerated. Even if there is only good will to comply with the conditions, it may not happen. Must have some qualifications. Let's see what rules or conditions you have to fulfill to get a home loan:

1. There should be a secure income system.

2. Must have salary certificate. It should be noted that the monthly salary should be at least 40 thousand taka.

3. Any other source of income will also require a certificate. Such as house rent, shop rent, business etc. It is good to say that these records should be submitted to the bank or loan institution every month.

4. CIB report issued by Bangladesh Bank is required to be submitted.

5. You must show the valuation of the property you own.

6. Applicant age should be 18 to 65 years.

How real estate agencies help in getting loans:

Financial institutions have good relationships with developers or real estate firms. Their cooperation is definitely needed to get a loan. So apart from the mentioned documents some other proofs have to be given. But it will be provided by real estate company or flat seller. Because, if the person or organization who will sell the flat has any problems, it will be difficult to get the loan. Let's find out about that:

1. Photocopies of all land documents should be submitted. E.g. Via Deeds, RS Khatian, CS Khatian, SA Khatian, All Mutations, Taxes or Submissions.

2. Agreement between the land owner and the building construction company.

3. If there is Power of Attorney, proof of his Power of Attorney.

4. Building drawing approval by Rajuk.

5. RAJUK Authorization Letter.

6. Flat distribution list between developer company and land owner.

7. NEC (Non-encumbrance Certificate) Non-encumbrance certificate.

8. NOC (No Objection Certificate)

9. TPA (Tri Party Agreement) i.e. agreement between buyer-seller and bank or financial institution.

Companies that offer flat loans or home loans

Most of the public and private banks and financial institutions of the country are currently investing in this sector. Find out about the home loan of some of the notable companies.

Private financial institutions

Many private financial institutions are offering home loans on easy terms. Conditions vary from organization to organization. But the terms and conditions of all are fairly close.

Delta Brac Housing Corporation Limited (DBH)

DBH has several different packages of flat loans. Products are announced based on the repayment capacity of the borrower. DBH has gained a lot of trust from customers in the field of home loans . The company gives a maximum loan of up to 70 percent for the purchase of flats. In this case, the interest rate is up to 9% depending on the repayment period. But you have to pay 0.5% fee for loan processing.

IDLC Finance Limited (IDLC)

The institution lends up to 70% of the proposed property. The difference between IDLCs and others is that they disburse loans in lump sum or in installments as per the needs of the borrower. IDLC Finance offers insurance against home loans. IDLC is the first to offer this type of insurance. You can contact online for details about 'IDLC Home Loan'.

Prime Bank Ltd.

For flat purchase and home renovation, Prime Bank provides loans up to a maximum of Rs 70 lakhs. In this case, the age of the borrower should be maximum 55 years. Earlier its interest rate was 13% but currently it is between 9%. Repayment period is 15 years.

Eastern Bank (EBL)

Eastern Bank Limited stands apart from others when it comes to home loans . They provide home loans to eligible individuals aged 22 to 57 years. The loan amount ranges from 5 to 75 lakh rupees. Earlier its interest rate was 14 to 15 percent, but now it gives loans in the range of 9 percent. However, EBL charges a fee of 1.25% for home loan processing. For details about Eastern Bank home loan, you can contact the bank or flat authority .

Eastern Bank is far ahead in corporate banking. Eastern Bank also has exceptional initiatives in the field of home loans. Age of the borrower is 22 to 57 years. The loan amount ranges from 5 lakhs to 75 lakhs. Repayment period should be between 3 to 10 years. Interest rates range from 14 percent to 15 percent, and the processing fee is 1.25 percent. But the interest may change.


Without personal collateral, HSBC Bank offers loans from Rs 7 lakh to Rs 75 lakh . Apart from submitting the documents, the condition is that the monthly income is 40,000 if the employee is employed, and the monthly income is 50,000 if the businessman is. Maximum repayment period is 15 years.

Standard Chartered Bank (Standard Chartered Bank Bangladesh)

SCB BD is a British based banking institution. Loans up to 70 percent of the total value are given for a short period on very easy terms. Only professionals and employed people can take loans from here.

Government institutions

Not all public financial institutions provide housing loans. Let's know about some of the institutions which provide loans to buy flats from government banks or institutions.

Bangladesh Bank

Bangladesh Bank is providing home loans to ensure the housing system of the people . Rashtriya A Bank gives loan for maximum 1250 square feet flat. The organization aims to work towards ensuring housing for the middle class. However, home loans are not available in all parts of the country. Loans for buying flats are only available in the areas under the jurisdiction of 6 City Corporations and Gazipur, Narayanganj, Tongi and Savar Municipalities. This bank has some special conditions. If someone has taken home loan earlier, he will not get re-loan. If his child or someone else in the family owns a house or flat in the area where he wants to buy a flat or house, he will not get the loan. Borrower's monthly income should be 30 to 50 thousand. Government Bangladesh Bank home loan interest rate is 9%.

Bangladesh House Building Finance Corporation (BHBFC)

This institution of the government provides loans for the purchase of houses or flats of the middle class. However,   Bangladesh House Building Finance Corporation provides this loan facility for elite areas of Dhaka Metropolis and Chittagong. 3 thousand 500 for each square foot of flat of 1 thousand 4 hundred 29 square feet. Loans are usually given in elite areas of Dhaka and Chittagong. For the construction of 1,667 sq.ft flat, per sq.ft., a home loan of Rs.3,000 is given. The total loan amount is 40 lakh rupees. Applicant should have own investment of 20% of total investment. The remaining 80% will be invested in house building finance. The interest rate is 9 percent. Maximum repayment period is 15 years.

Detailed information on travel insurance

People almost go out to travel to get a break from the monotonous life. Traveling to distant countries is a hobby of some people. But everything is fine, but tell us what is the guarantee of our life? When there is danger in our life, say stay at home and go on a trip. Going out on a trip, we can face any danger. For example, bag theft or robbery or accident can get sick again. So insurance companies have come up with travel insurance cover keeping you travel lovers in mind.

The insurance company will cover all the risks related to your travel in the insurance policy. This means that the insurance company will take responsibility for the financial cost of any damage from the beginning to the end of your trip. For that you need to buy travel insurance or travel insurance policy. But before buying this policy you should know all the information about this travel insurance. And from today's article, you can get detailed information about travel insurance.

Let's know what is travel insurance and its benefits and coverage and types of travel insurance.

What is travel insurance or travel insurance?

Travel insurance is a travel risk protection contract. If a person buys a travel insurance policy, the insurance company will provide financial compensation to him in case of any loss during the trip. That is, if you are traveling abroad, your bag is stolen or you are injured, the insurance company will pay you the financial loss. Travel insurance is a good insurance policy for travelers.

Travel Insurance Cover:

The coverage offered by insurance providers varies for different providers. Below these are usually included in the travel insurance cover.

  • Emergency medical expenses.
  • Loss of bags and personal documents.
  • Emergency dental expenses.
  • Cash approval in hospital.
  • Accidental death or permanent total disability.
  • personal liability.
  • Hijack disaster allowance.
  • Late trip.

How many types of travel insurance ?

This insurance can be done under different categories. You can choose it according to your needs and requirements.

Student Travel Insurance:

Student travel insurance plan provides medical and financial support for students. Insurance companies provide financial assistance for any medical or financial emergency while studying in a new country. It is only for students who are planning to study abroad.

Domestic Travel Insurance :

If you like to travel anywhere in India, then you can enjoy the benefits of this travel insurance. Under this insurance policy , medical and financial assistance for medical, bag theft, trip cancellation are included.

Family Travel Insurance:

Family travel insurance can be purchased directly for any member of the family. This insurance policy covers accidental expenses, hospital expenses, and bag theft etc.'

Senior Citizen Travel Insurance:

This travel insurance policy is a travel insurance policy for people aged 61-70 years. It provides coverage of medical expenses, health care benefits etc.

Group Travel Insurance:

If you are a group of 20 or more people and you are planning to travel. Then you can buy group travel insurance policy. It covers trip cancellation, baggage theft, medical and travel delay etc.

Asia Travel Insurance:

If you are traveling to Asian countries, you can buy Asia travel insurance policy. Your medical and other unexpected expenses are covered under this policy.

Customized Travel Insurance:

Some people prefer customized travel insurance plans, as they can customize the insurance coverage according to their needs. This service is offered by some insurance providers in certain regions of the world.

Benefits of buying travel insurance:

Medical expenses:

When you are traveling abroad or in India. There may be hospital expenses due to illness. And travel insurance covers you for surgery, injury, hospital expenses. You can get 24 hours benefit in this.

Lost bag:

Accidents are a very common thing when traveling. If you do not purchase this insurance, you may lose valuables including your luggage. As per this insurance policy you will be reimbursed for all the valuables in the luggage.

Travel cancellation:

If your trip is canceled due to a natural calamity, all your hotel bookings and travel bookings may be lost. In case of cancellation of your trip in travel insurance policy you will get full refund

Answers to frequently asked questions:

Q.  Why is travel insurance necessary? 

A. Travel insurance is required to insure against the risk of accidents while travelling.

Q. What is covered in travel insurance? 

A. Emergency medical expenses, loss of bags and personal documents expenses, accidental death or permanent total disability, hijack disaster allowance, trip delay etc.

What is Motorcycle insurance

How are you friends? I hope you are all well. Friends, motor cycle is one of the inventions among our many vehicles for our transportation convenience since long ago.

Many people use motorcycles for convenience of movement. Accidents are relevant when talking about these types of vehicles. When you go out on the road, you can see many kinds of accidents. In most cases, the guilty has to pay an immediate fine or the person is sentenced to various terms. But if your motorcycle gets damaged due to such an accident then there is no limit to regret. This is why you need to insure your motorcycle. If there is any damage to your motorcycle due to an accident, the insurance company will bear all the cost of repairing your motorcycle. If your motorcycle is insured with a valid insurance company. For this you have to pay an annual fee. In return you don't have to spend a single penny even if your motorcycle gets major damage due to accident.

Government General Insurance Corporation provides motorcycle insurance. There are also some private insurance companies that provide this insurance facility. General Bima Corporation was established on May 14, 1973 under the Insurance Corporation Act as a single state-owned enterprise. It is an organization run under the Ministry of Finance. In order to get insurance services, first you need to insure your motorcycle. For this, the application form must be collected from the general insurance corporation office or from the following link. After filling the application form correctly and submitting it to the concerned office, General Insurance Corporation authorities will check your documents and give approval for insurance.

Other benefits of this insurance

  • Payment of accidental compensation to the insured or any other known passenger other than the working driver, aged between 16 and 65 years.
  • Accidental compensation to any other unknown passenger other than the insured and working driver, aged between 16 and 65 years.
  • Payment of accident compensation to a subordinate of the insurer (who is in any way connected with the care or maintenance of the motorcycle) under Workmen's compensation act 1923, Fatal accident act 1855 and other general laws.

Limitations  : Insurance is not applicable for certain reasons. These are:

  • If affected by strikes, strikes or terrorist activities.
  • If damaged due to earthquake.
  • If the vehicle is damaged due to flood, typhoon, cyclone, fire, hail, heavy storm and snowfall etc.

How to do Bike insurance?

You have to go to the insurance office to insure the bike. While going there, you have to take the bike documents with you. If you can't find the insurance office, go to the bike selling company. You can get bike insurance from there.

What is covered by motor vehicle insurance?

Motor vehicle insurance is present with full indemnity benefits, which protects you against riots, fires, thefts, explosions, strikes, terrorist activities and acts of cruelty. This motor vehicle insurance also protects you against natural disasters like earthquakes, cyclones, floods, tsunamis etc.

Apart from this, it also provides additional benefits in case of various critical situations (while driving) such as internal breakdown, battery discharge, flat tire, missing key etc. Each scheme under our online vehicle insurances is designed to serve investors through a remote network.

Last word 

Friends any thing should be insured now or die everyone is insured. Especially for our vehicles we have to go out with insurance. If you don't have any insurance as per the government rules then you have to pay a fine every time. Then when you drive your vehicle on the road, you may be in danger, causing damage to your vehicle or water. In that case you need to get insurance so that you don't face any problem. There are many other reasons for the bomb, to put it bluntly, for your sanity, for your leverage, and to drive according to government rules, you need insurance. thank you.

Definition of Marine insurance

What is marine insurance?

Marine insurance is the insurance against the risks related to seagoing ships, cargo of ships, chartering of ships. Insurance business started with marine insurance.

The name “Edward Lloyds” is particularly notable in marine insurance. He ran a coffee shop in London. '

Association of Lloyd's' or 'The corporation of Lloyd's' is the world's first insurance company or marine insurance company.

Types of Marine Insurance

Marine insurance can be divided into 4 categories according to content.

1. Ship Insurance:

If the shipping authority insures the name of the ship, it is called ship insurance. Any damage to the ship is covered by the insurance company.

2. Commodity Insurance:

The insurance contract taken out by the owner of the goods for the goods being shipped is called Commodity Insurance.

3. Freight or Freight Insurance:

The freight is paid by the owner of the goods to the shipping authority in return for the safe delivery of the goods. The owner of the goods does not want to pay the appropriate rent if the goods cannot be delivered properly. Hence the insurance taken out by the shipping authority for uncertainty of hire is called cargo or scaffolding insurance.

4. Marine Liability Insurance:

When the liability incurred  by the ship authority is accepted by the insurance company in return for the premium, it is called marine liability insurance. If there is any damage to the goods by any of the workers of the ship, if there is any damage to any of the workers of the ship or if there is any damage to any other ship or person due to the impact of the ship, the responsibility of the shipping company. However, the marine liability insurance company indemnifies.

Why is marine insurance necessary?

Introduction The history of looting by Firingi pirates is not unknown to the people of this country. Although the occurrence of water pirates has decreased, the number of natural disasters on the waterways has not decreased but is increasing. Even now, heavy storms, waves, pirate attacks, etc. can cause huge losses during sea shipping. At any time cargo ship can sink under sea with sailors. That is why the use of marine insurance has become essential in modern times. From this blog you can know about various aspects of marine insurance. So let's read it and find out.

Renowned insurance writer Professor M. N. Mishra (MN Mishra) said,"A contract of marine insurance is a type of agreement entered into between the insurer and the insured whereby the insurer undertakes to indemnify in accordance with the contract for any loss to the seagoing vessel and the interests connected with it.”

Marine insurance is a type of property insurance.

In the fire insurance unit we have learned about the types of property insurance and the required conditions. In this lesson we will learn about the concept of marine insurance and its differences. Marine Insurance Marine insurance is insurance against loss due to marine causes. Also, if the goods to be transported by sea have to be transported by inland waterways or by land to reach the sea, then the corresponding land route will also be covered by marine insurance. Now let us discuss the definition of Marine Insurance in the Insurance Act.

According to the British Insurance Act of 1906 (The British Insurance Act.1906) "A Contract of Marine Insurance is a contract whereby the insurer undertakes to indemnify the assured, in manner and to the extent there by agreed, against marine losses, that is to say the losses incident to marine adventure. (et – insurance is a contract in which the insurer undertakes to indemnify the insured against loss by sea in a prescribed manner and up to a prescribed limit.

Ghesh and Agarwala are well-known writers on insurance. According to them, marine insurance is "A contract of marine insurance is a contract of indemnity where by the insurer undertakes to indemnify the insured in a manner and to the extent there by agreed against the loss caused in connection with a marine adventure." Grete (a contract of indemnity by which the insurer undertakes to indemnify the insured in a specified manner and up to a specified limit) against any marine loss. Thus we see that their definition of marine insurance is essentially equivalent to the contract of insurance law. Now let us learn about another author's concept of marine insurance.

According to Halsbury, the contract by which the insurer undertakes to indemnify the insured in a specified manner and up to a specified limit is called marine insurance contract. Apart from this M,N Mishra said "Marine Insurance Contract is a contract between insurer and insured where by the insurer undertakes to indemnify the insured in a manner and to the interest there by agreed against marine adventure"

Now let us know what Indian law describes about marine insurance.

According to Section 2(13-A) of Indian Insurance Act 1938 “Marine Insurance business means the business of effecting contracts of insurance upon vessels of any description, including cargoes, freights and other interests which may be legally insured in or in relation to such vessels cargoes and freights, goods wares merchandise and property of whatever or not including warehouse risks or similar risks in addition or as incidental to such transit and includes any other risks customarily included among the risks insured against in marine insurance policies”, now the definition of boat insurance is known . However, this marine insurance can be of different types. So let's try to know them.

Classification of Marine Insurance

1. Hull Insurance

The insurance against the possible loss of merchant marine i.e. ship's equipment is called ship insurance.

2. Cargo Insurance

Insurance against uncertainty of loss in respect of goods transported in commercial vessels is called cargo insurance.

3. Freight Insurance

Damage to the ship's cargo due to marine peril or loss of cargo overboard is not recoverable. Insurance against this masul loss is called masul insurance. It should be noted that in order to escape from the fury of the storm on the sea route, sometimes the goods of the ship have to be thrown into the sea. Insurance is also provided for such matters.

4. Liability Insurance

In marine insurance the insurance against certain types of loss is called liability insurance. For example, the rules and regulations may change during the sea voyage. It can cause financial loss. The insurance against any such loss is called liability insurance in marine insurance.

Classification of Marine Insurance

Considering the benefits of the policyholder, nowadays insurance companies issue different types of policies:-

1. Valued Insurance: The insurance policy in which the subject matter i.e. the value of the insured asset is determined with the consent of both the parties is called the valued insurance policy. In this case, the value of the contents is determined before the damage occurs and damages are awarded according to that value. In this case compensation is not given according to the market value. Generally; Valuable insurance is accepted for photographs, paintings, valuable works of art etc.

2. Non-valued insurance policy: The insurance policy in which the insurance contract is executed without determining the value of the contents is called non-valued insurance policy. In this case, compensation is made according to the then market value by determining the value of the property after the loss. Generally, valued insurance policies are accepted for those types of assets whose market value can be easily determined.

3. Travel Insurance: The travel insurance policy that mentions the itinerary is called travel insurance. In this case there will be no mention of time. For example:- The ship will go to Bangkok with goods from Dhaka' — this will be included in the travel insurance.

4. Term insurance policy: The insurance policy that provides marine insurance for a specific period of time is called term insurance policy. In this case there will be no mention of the itinerary. Eg:- Marine insurance is done for the next 6 months/Insured for the period from 31st January 2016 to 31st January 2017.

5. Mixed insurance policy: The insurance policy which contains specific itinerary as well as time or date is called mixed insurance policy. For example:- The ship will reach Bangkok from Dhaka in next 15 days.

6. Large risk insurance policy : When two or more insurance companies jointly insure any content, it is called large risk insurance policy.

7. Port Risk Insurance: Port risk insurance is accepted by the port authority to indemnify the assets of the port such as lighter ships, barges, goods lying in the port.

8. Floating or Canopy Insurance: Floating or Canopy Insurance if more than one ship or property of the same owner is insured under one policy. If Uddip is to insure more than one vessel or property, it should be understood as blanket insurance.

9. Open Defense or Open Insurance: Open or Open Defense insurance policies are taken for one year at a time to avoid the hassle of opening the policy repeatedly.

Scope of Marine Insurance

Insurance against possible loss of property only by sea is not called sea insurance; Inland waterways and even land routes are covered by marine insurance. It may be necessary to carry the goods by inland waterways for the purpose of loading the goods on board for sea transport; At any point on the way, for some reason, the goods may have to be temporarily stored in a warehouse somewhere. Therefore, the risk of keeping and carrying the goods on the said route and place will also be covered under marine insurance. So for the purpose of transportation by sea, all the insurance from the warehouse to the point of destination will be covered by the marine insurance.

What are marine hazards?

All the dangers faced by ships while navigating the waterways are called maritime dangers.

There are two types of marine hazards

  • Natural hazards.
  • Unnatural/moral/man-made hazards.

1. Natural Hazards: When a disaster occurs due to natural causes, it is called a natural hazard. For example: sea storms, submerged mountains or impact with ice blocks etc.

2. Unnatural/Ethical/Man-Made Hazards: When a hazard is caused by humans or any other cause other than natural causes, it is called moral hazard. For example: pirate attacks, product dumping, arson etc.

What is marine damage?

The amount of erosion caused by sea waves is called marine damage.

Marine damage is mainly of two types:

  • Overall loss.
  • Recoverable total loss.

1. Total Loss: If the insured property or contents are completely damaged or destroyed, it is called total loss. If it is destroyed to such an extent that it cannot be salvaged then it will be actual total loss.

2. Recoverable Total Loss: And if salvage is possible but not salvaged because salvage cost is too high then it will be recoverable total loss.

What is partial damage?

Partial loss is when the insured property or contents are partially damaged.

Partial damage is of two types:

  • General partial damage.
  • Special Partial Damage.

General Partial Damages: Voluntary sacrifices to protect all parties are called general partial damages. Basically, general damage is caused to save the ship. For example: Gutcha, sacrifice etc.

Special Partial Loss:  Damage to any part of the ship, cargo or freight caused by accident or natural causes is called special partial loss. No one has a hand in this matter.

What is called jettison or product launch?

Casting of cargo is the voluntary throwing away of certain goods in order to save the ship and its cargo from sinking or to avoid great danger. This makes the ship lighter. In this case, the other party will compensate the person whose product has been thrown away at a proportionate rate. If such risk is insured, compensation is available from the insurance company.

How does marine insurance increase invisible exports?

Generally, foreign exchange earned by providing services is called invisible export. In marine insurance, the goods are insured and sent to the importer by ship. The cost of goods and insurance costs are collected from the importer. The amount realized on the cost of goods is the visible export and the amount realized on insurance cost is the invisible export.

Marine insurance needs to be kept in mind

1. Jettison = renunciation ie jettison and renunciation are the same thing. If the question wants to know any kind of danger then it will be jettison and if it wants any kind of damage it will be sacrifice.

2. If you hide the information from the insurance company, the policy of good faith is violated, so the insurance company will not cover the loss.

3. Claiming damages for the subject matter insured is lawful but claiming damages for any other subject matter would be against the insurable interest.

4. If there is a loss due to which the insurance company will compensate the loss directly, if the loss is not due to the same reason, the insurance company will not cover it. For example, product damage due to storms will be covered. It turned out that there was a storm at sea but the goods were not damaged by the storm, the ship got stuck in the ford and there were oranges that rotted because of the stuck. In this case the insurance company will not compensate.

5.Insurance “If the policyholder himself” insures his property with multiple insurance companies, it will be collateral insurance, but if the insured property is re-insured by the “insurance company” with another insurance company, then it will be reinsurance. In case of loss, all companies will compensate proportionally. If one company pays damages alone, it will later recover the balance from the other company.

6. Date of voyage, date of destination and date of arrival, validity of insured property, declaration of sea route and nationality, keeping with escort the express conditions of marine insurance as these are mentioned in the contract.

7. Seaworthiness of the ship, not to change the route, validity of which, to start the journey at the specified time, are unspoken conditions because they are not written but have to be observed. The insurance company will not indemnify in case of breach of any express or implied condition.

What is Crop Insurance

What is crop insurance?

Crops of the land are often destroyed due to natural causes. It is very difficult to deal with such problems in developing countries. Crop damage of land like: flood, cyclone, heavy rain, lack of rain, insect attack is caused by various reasons. Crop insurance is the insurance that is taken for financial assistance as a cover in this problem .

Importance of crop insurance

A large part of Bangladesh's economy depends on agriculture. But this agriculture is dependent on nature. Crop insurance is very important in this country as natural calamities cause a lot of damage to agricultural crops. If the crop of an area is damaged, the economy of the country is also affected. Crop insurance deals with all these losses coverage. In the first stage, the coverage of crop insurance included paddy, jute, wheat and yaksu.

Benefits of Crop Insurance

1. Crop insurance covers financial loss in case of crop loss or accident so the people engaged in agriculture are quite safe.

2. Farmers do not have to worry about crop damage. This results in increased production.

3. Insurance helps people to be frugal. and learn about proper utilization of resources.

4. There is no need to worry about warehousing as the crop is covered by insurance.

5. Crop insurance makes it easy to get loans from various lending companies.

6. Capital formation can be done through crop insurance like any other insurance.

7. Farmers are interested because of crop security. The country benefits economically by exporting goods.

How to plan insurance?

Farmers With some interested farmers in the village for insurance, contact any representative of the crop insurance company. 

Copies of documents to be provided to farmers.

1) NID card photocopy .

2) Aadhaar card photocopy .

3) Bank pass book in own name (photo).

4) Copy of Khatian/Parcha.

Benefits of Life Insurance

What is life insurance?

In life insurance and all other insurances, the contract is between the insurance company and the beneficiary. The agreement is subject to all legal validity, limitations . The main objective of life insurance is to make people's lives safe and beautiful. Because if the person's life is damaged, the life insurance company gets a one-time payment .

What is the benefit of life insurance?

What is life insurance? As much as we all need to know this, it is more important to know the benefits of life insurance . Many of us have misconceptions about life insurance. We think this is a work in progress. But no, the age of people is increasing but the time is decreasing day by day. People can die at any time. So with life insurance, if a person dies due to any reason, his family will get a certain amount of money. And for those who have only one earner in the family, life insurance is very important.

No one wants to die in this world. Every human being fights for survival. But in this world. That which has creation, has its destruction. Humans will also die in the same way. So we should take life insurance so that our loved ones can lead their lives without financial problems.

Life insurance has many advantages as it provides you with special help in case of emergency. As a result, you and your family can be prepared in advance to face any unexpected disaster. Life insurance has several advantages. It is mentioned in sequence below.

1. Post-death benefits

If any unforeseen event happens to the insured, resulting in loss of income to their family, the insurance company compensates them in the form of death benefit. Appointed candidates get the promised full amount and bonus accrued over a specified period of time.

Apart from providing death protection, many life insurance plans also offer monthly income benefits. Such insurance is an excellent benefit for individuals who have reached retirement age and whose income is declining.

But while getting life insurance be careful to evaluate the features and benefits of several plans and select the best one for your needs to provide the best protection.

2. Return on investment

Renowned financial advisors suggest that everyone should invest in a life insurance policy. Not only to provide financial security to the family when you are not there, but also to get excellent return on investment.

Additionally, life insurance is a safer financial instrument when compared to other investment options. The money you have invested in the insurance will be fully paid back to you as guaranteed money at the end of the term or after the death of the insured.

3. Tax benefits

A significant life insurance benefit is the tax benefit. If you are a salaried employee and purchase a life insurance policy, you may be eligible for a discount.

4. Loan facility

When you need money in an emergency, you can take a loan against life insurance coverage. Almost all major insurance companies now offer loan facilities against insurance to policyholders.

Depending on the terms of the policy, you can borrow a certain proportion of the cash value of the policy or the sum assured. So before you contract for insurance, know the loan policy with the insurer well.

5. Correct financial planning decisions

It's important to plan your financial decisions carefully as you move through life's stages. Life insurance can help you in just this case. You can use various term life insurance benefits to provide financial support to the family in case of your untimely death.

This will not only help them fulfill their financial responsibilities, but it will also facilitate a financially independent lifestyle without disrupting their lifestyle. It will help immensely in various important occasions like marriage of sons and daughters, paying for schooling of Panar children and building a dream house for post retirement life.

6. Guaranteed source of income

Another benefit of life insurance is a guaranteed source of income. Your family feels financially secure in your presence. Because you earn regular income to meet their needs. The earnings you earn help pay off debt (if any), house rent, daily bills, children's education and other household expenses.

But what if you suddenly leave this world? Some life insurance policies provide regular payouts, which can cover the loss of income due to the death of an earning family member.

7. Business Security

Currently there are several life insurance companies that offer a facility with their insurance policies. If you bought the policy and run the business, your business partner can buy a share of the policyholder after the policyholder's death.

In this case, the business partner has to sign an agreement with the life insurance company and the proceeds after selling the shares will be paid to the nominee of the policyholder. It must be noted that the dependents or nominees of the policy holders do not get any stake in the company.

How to do life insurance?

Know about the benefits of life insurance, now let's know how to do it. To buy the right life insurance, you need to understand what type of insurance you need and how much insurance premium you want to buy. Because the higher the premium, the higher the amount of money you will receive after the expiry of the term or at the time of compensation.

But remember, just the amount of money received does not mean that it is profitable for you. There are several other things that you need to consider, such as premium policy, return policy, tax policy, nominee policy, maturity benefit etc.

First you need to decide how many years of insurance you want and how much premium you will pay every month. Currently there are two types of life insurance you can get. One is term insurance and the other is life time insurance. Apart from this, know about the coverage and other benefits of the policy.

Remember, it's an asset you're doing for the family. So don't be fooled by the ads or agents of just one particular insurance company, do your own research to see which company is offering you the best offer. Make a decision by contacting the insurance office directly without taking insurance from a local insurance agent.

After taking the final decision, keep your own documents like national identity card, driving license, passport, proof of source of income and nomination papers etc. Finally sit with the insurance agent or officer fill the form with required information and pay the first amount of premium.

Things that are important to know before life insurance?

At present we consider depositing money in the bank or debiting it as safest. But to receive bank services or open an account, you have to go to the bank and wait in line. On the other hand, insurance companies have specific agents. They go door to door and convince people to insure. 

But many people have negative ideas about insurance. Harassment or other problems to get money after expiry. Before insuring it we will know these things:

1. Read the complete terms and conditions of the insurance company before taking life insurance. If you do not understand yourself, take help from others.

2. Learn how to deposit life insurance or life insurance premium. Know what to do when life insurance expires.

3. Know in how many days you will get the money after expiry. And also know that addiction will pay you.

4. Find out what the legal recourse is if the insurance company doesn't get the money you want on time.

5. Know the legitimacy of the company.

Life insurance fraud?

You might be thinking about the near future and depositing premium money every month from your hard earned income. But suddenly you find out that your insurance agent is a fraud and he is taking the premium money of many others like you.

This kind of incident is happening frequently in our Bangladesh. By pretending to be an insurance agent or opening a fake insurance company, many fraudsters are stealing people's hard-earned money by offering more benefits at lower premiums.

So before buying any insurance check their background, authenticity, agent authenticity, office authenticity, company reviews and their website. It is best if you can see everything yourself to be sure. Don't lose everything to a flashy advertisement or the lure of higher profits.

Last word

In this long discussion we have tried to present the benefits of life insurance and other important information. Also detailed about strategies to survive insurance fraudsters. So don't delay and get down to work now.

Because a right decision on your part will provide financial security to your family in case of any future accident. Remember, this decision of yours will help your family even in your absence and you will be in their prayers and memories every moment.

What is the way to get loan from Bkash

Ever since the announcement of the launch of Bkash and City Bank loan services, many people have expressed interest in knowing how to get a loan from Bkash. Recently, Bkash and City Bank have joined forces to launch loan services. It is said that this is the first digital loan distribution service in Bangladesh.

Currently the development is running the service experimentally. It is said by Bkash that when this service is fully available, a maximum digital loan of 10,000 taka will be available under it. Today we will know how to get loan from Bkash.

The best part about Bkash Loan 2022 is that you can get this loan without any collateral in your account. Which will be paid through City Bank. What is the way to get loan from Bkash? Let's know some important information about Bkash and City Bank Bkash Loan 2022 disbursement.

What is the way to get loan from Bkash?

With the help of Bkash app you can take loan from Bkash without any hassle. At present, the development loan service program is being conducted on an experimental basis. That means, not all but a select number of customers can avail the loan service from BKash.

Customers will see the loan icon in their Bkash app as a way to avail Bkash loan. In order to take a loan, the customer has to give permission to give the information given to Bkash in his e-KYC form to City Bank. Then enter the loan amount and Bkash account pin code and get the loan amount in your account instantly.

Although this service is not available for everyone now. However, if this project of Bkash and City Bank is successful, the service will be opened for more Bkash customers.

What are the terms of Bkash Digital Loan?

You can borrow Tk 10,000 without any collateral in this Bkash digital loan service of Bkash and City Bank. That means you don't have to give any collateral and don't have to follow any additional rules to withdraw money.

If you are a selected customer in the experimental project, you can easily take a loan of 10 thousand rupees anytime through Bkash Digital Loan Service. It is envisaged that the Bkash Digital Loan amount may be increased later based on transactions and loan repayments.

How much interest should be paid on development loan?

Apparently, you don't need to provide any security to take Bkash Digital Loan. But since City Bank is managed under Bangladesh Bank, interest has to be paid to take the loan from Bangladesh Bank. And this interest amount is only 9 percent. And by following this rule you can get Bkash Digital Loan at 9 percent rate. That means you have to pay interest at the rate of 900 taka for every 10,000 taka.

Development Loan Repayment Rules

The loan will be automatically disbursed from the customer's development account in three equal installments over the next three months on the due date. But before the loan is disbursed, you will receive a notification on your phone through messages and apps.

But here it most be remembered that whether you are repaying the loan on time will also be monitored. Your development loan repayment transparency will be considered in subsequent loan disbursements. That is, if you take a loan and pay off the loan late, then you may not get the loan later. So you must be keen to repay the loan on time.

What is insurance and how many types

In the current market, people are very careful about their lives, people are increasingly interested in insurance, many of them do not know what is insurance?

Many people have misconceptions about insurance , such as many people think that insurance is a type of investment scheme where money can be deposited for a specific period of time and the money can be withdrawn in the future with interest.

But this idea is completely wrong, remember that insurance is not a medium where you can deposit money and withdraw that money with interest after a certain period of time.

So in this article I will discuss insurance (Insurance) or what is insurance? How many types and what? List of insurance or insurance companies in Bangladesh.

What is insurance?

Insurance is a lump sum payment to an organization to protect itself against possible future losses. In return you can get help from that organization in case of loss.

Thus, when something unfortunate happens, the insurer helps you through the situation.

As I said before, this is not a medium where you can deposit money and withdraw it after a certain period of time, as is the case with fixed deposit, saving scheme, mutual fund.

That’s why common people misunderstand the difference between Insurance and Investment Scheme.

Remember that insurance will never pay you as a director.

Through insurance, you can get help (money) from them in exchange for various types of losses that may occur in the future.

Therefore, even if you do not get money directly through insurance, you can get help (money) from them (insurance company) in exchange for various types of losses that may occur in your future.

If you don’t understand yet, you can understand with examples.

Example: Suppose you have taken a “health insurance” from any health insurance company and according to the rules of that insurance company, you have given them 5 thousand dollers as premium every year.

But nothing will be given to you instead of that 5000 thousand dollers premium paid every year.

However, if in the future you have any health risk problem or you have to be hospitalized then the insurance company will bear all your medical expenses.

Hope you have understood what insurance is.

What are the types of insurance?

Insurance can be of many types, but general insurance is of 2 types:

Term Insurance or Life Insurance
General Insurance or Non-Life Insurance
The following figure shows the types of insurance –

General insurance is again divided into many parts, such as:

  • Home Insurance
  • Health Insurance
  • Vehicles Insurance
  • Travel Insurance
  • Corporate Insurance
  • Fire Insurance
  • Property Insurance
  • Accidental Insurance

Life Insurance:

Life insurance is a strategy to transfer or avoid human risk of death, loss, peril.

Where a person pays a regular premium to an insurance company with the intention of receiving a specified amount of money at a specified time in the future or after the person’s death.