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:1^st 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.

 

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