Uttara Bank Ltd.
Uttara Bank Ltd.

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Education Loan

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)

 

Eligibility: 

  • 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

 

Security/Collaterals Requirement

  • 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

 

Documents Requirement

  • 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