Any Bangladeshi individual who has the means and capacity to repay a bank loan, In specific terms, these could be salaried employees/executives of multinational and middle to large size local corporate, Government, Semi-autonomous bodies, 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 a permanent and confirmed salaried persons, a minimum of three (3) years experience with 1-year employment in the present organization
- Minimum Yearly income (Net BDT): At least three times the total yearly installments amount of the applied loan
- The borrower must reside for at least 6 months 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 the 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 the total amount of all installments
Tenor: Maximum 5 years
Repayment method: Equal Monthly Instalments
Disbursement Mode: By making credit to the 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 the applicant(s) and guarantor (s).
- Photocopy of NID/Passport of applicant (s) and guarantor (s)
- Latest Utility Bill (Gas/Water/Electricity)
- Study plan with a budget.
- Business Card/Office ID of the applicant (s) and guarantor (s), if any.
- Latest Tax Certificate / E-TIN
- Personal Net Worth statements of the 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.
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.
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