Mercantile Bank Personal Loan

Mercantile Bank Personal Loan

An attractive package with only .50% processing fees and low income requirement.

Key Product Features

Interest Rate 14.00%
আবেদনপ্রার্থিকে অবশ্যই অনুমোদনকৃত লোনের ১% রিস্ক ফান্ডে রাখতে হবে।
Min. financing Amount BDT 50 000
Max. financing Amount BDT 500 000
Min. loan tenure 1 year
Max. loan tenure 4 year
Islamic / Conventional Conventional
Approval duration 1 week.

Fees and Charges

One time set-up Penalties
Processing fee
0.50%

Stamp duty
At Actual
Early Settlement
2%

Late Payment Charges
2%

Eligibility

Age requirement
Age 21 - 60

Min Income requirement
BDT 30 000

Employment Eligibility
Salaried Employee
Self Employed

Other requirements


Need to open linked bank account?
Yes

Mercantile Bank Personal Loan

  1. Terms and Conditions
    For Salaried individual minimum total length of service must be 1 year as confirm employee and Govt.Employees must be confirmed on job. Applicant has to keep 1% of approved loan amount as Risk fund.
  2. What will it cost you and how will you be charged?
    Processing fee is 0.50%. Application fee BDT 500.
  3. How long will the application take and what documentations are required?
    It will take 1 week after submitting the loan application. Documents: Salary certificate, Bank statement of last 6 months, Copy of Utility bill, Copy of National ID card, 2 copy PP size photographs.
  4. Can you apply if you have a bad CIB Credit Record?
    No