The loan application deadline for construction and renovation of cinema halls under the special refinancing scheme of the Bangladesh Bank has been extended till 31 December this year, read a circular issued by the Banking Regulation and Policy Department of the central bank on Sunday.
The previous deadline was 31 March this year.
The circular said the deadline has been extended as many customers could not apply for the loan facility in time as they were not informed about the loan facility in time.
In a circular issued on 21 February last year, the central bank announced the formation of a special refinancing scheme of Tk1,000 crore to provide a term loan facility to cinema hall owners for the construction, renovation and modernisation of cinema halls.
The loan will be disbursed in two phases.
Owners can borrow a maximum of Tk10 crore for construction per unit of new halls and a maximum of Tk5 crore for renovation and modernisation.
The interest rate on this loan is 5% in the metropolitan area and 4.5% outside the metropolitan area. Customers will have a total of eight years with a grace period of one year to repay the loan, the central bank said.