Mercantile Bank Personal Loan

Mercantile Bank Personal Loan

An attractive package with only 0.50% processing fees and low-income requirement.

Key Product Features

Interest Rate 14.00%
For any legitimate purpose offered to an individual salaried person only.
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 Southeast Bank will take approximately 7 working days to review and approve your loan request.

Fees and Charges

One time set-up Penalties
Processing fee
0.50% on approved loan amount.

Stamp duty
At Actual.
Early Settlement
2% of overdue amount.

Late Payment Charges
1% on overdue amount.

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 confirmed 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?
    Southeast Bank will charge the following fees while processing this loan : 1. Processing fee is 0.50%. 2. Application fee BDT 500.
  3. How long will the application take and what documentations are required?
    #Loan Request Approval Time : Southeast Bank will take 7 working days to review and approve your loan request after submission of loan application. #Required Documents: You need the following documents to be approved to get this loan : *. Two copy color PP size photographs of the applicant. *. Bank statement of last 1 year. *. Photocopy of NID. *. Photocopy Utility Bill(Gas/Electricity/Water). *.Photocopy of Salary statement.
  4. Can you apply if you have a bad CIB Credit Record?
    No, your application won't be approved if you have bad CIB Credit Record.