Any Bangladeshi individual who has the means and capacity to repay bank loan, In specific terms, these could be salaried employees/executives of multinational and middle to large size local corporate, Government, Semi-autonomous body, in reputed NGOs (Non Government Organizations) international aid agencies and UN bodies, and other employees acceptable to the bank
Purpose: To meet the Educational Expenses of Self/ son/daughter or any other dependant.(Local/Foreign)
- Age: Minimum age 25 years ( At the time of application), Maximum age at loan maturity up to 60 years (At the end of Loan Tenor)
- For permanent and confirmed salaried person, minimum three (3) years experience with 1 year employment in present organization
- Minimum Yearly income (Net BDT): At least three times of the total yearly installments amount of applied loan
- Borrower must reside for at least 6 month in the same address
Loan Size: Maximum amount of loan under this Scheme will be Tk.3.00 lac (Taka Three Lac)
Loan to Value Ratio: 70% of the cost to be paid by the borrower
- Two Personal Guarantees with net worth declaration.
- Personal Guarantee of spouse/parents or any other family members acceptable to the bank.
- Post dated cheques for all installments
- One undated cheque covering total amount of all instalments
Tenor: Maximum 5 years
Repayment method: Equal Monthly Instalments
Disbursement Mode: By making credit to customer’s savings/Current account
First repayment date:1st repayment will be started at the end of one month from the date of disbursement
- Recent Passport size photographs of applicant(s) and guarantor (s).
- Photocopy of NID/Passport of applicant (s) and guarantor (s)
- Latest Utility Bill (Gas/Water/Electricity)
- Study plan with budget..
- Business Card/Office ID of applicant (s) and guarantor (s), if any.
- Latest Tax Certificate / E-TIN
- Personal Net Worth statements of applicant (s) and guarantor (s).
- Bank Statement of last 12 months for businessmen and 6 months for others.
- Rent or Lease agreement of house/property (if applicable)
- Salary Certificate / Letter of Introduction.
- Professional Certificate issued by the concerned Institution.
Interest Rate: 12.00% per annum with quarterly rest. The rate of interest will remain fixed throught the tenure of the Loan.
Availability Period : Maximum 6 months from the date of sanction advice.
Prepayment : Loan to be prepaid on payment of 2% breakage cost on prepayment amount.
*Condition will be applicable