Marriage Loan

 

For making the precious moments of wedding dreams wonderful and memorable, Uttara Bank PLC. will stand beside the people with its “Marriage Loan” Scheme with market competitive rate

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 financial need for Marriage purpose of self and/or his dependent (Son/Daughter).

 

Eligibility:

• Age:Minimum age 25 years ( At the time of application), Maximum age at loan maturity up to 40 years for self and 60 years for  dependent (Son/Daughter)
• Minimum Service/length: 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: Minimum Tk.25000.00, Maximum Tk.3.00 lac (Taka Three Lac)

Loan to Value Ratio: 30% of the cost of the item is allowed.

 

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 instalments.
• One undated cheque covering total amount of all instalments.

 

Tenor: Minimum 12 months /24 months &/or maximum 36 months

Repayment method: Equal Monthly Instalment 

Disbursement Mode: By making credit to customer’s savings/Current account

First repayment date: 1^st repayment will be started at the end of one month from the date of disbursement.

Debt Burden Ratio (DBR%): A maximum of 33% based on net monthly income

Loan processing fee/service charge: 2% on loan amount, minimum Tk.1000.00.

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)
• Details of expenditures with supporting papers..
• 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 6 months.
• Rent or Lease agreement of house/property (if applicable)

 

Interest Rate: 15.00%  per annum with quarterly rest. The arte 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 apply