Brac Bank Personal Loan

Brac Bank Personal Loan

A Very Flexible Package With Only 1 Guarantor Requirement and Loan Sanction In a Very Short Period

Key Product Features

Interest Rate 10.50%
If your income is below 25,000 BDT, you'll get 10.5%. If you've 30,000 BDT, you'll get 11.5% and if you have 40,000 BDT you'll get 12.75%.
Min. financing Amount BDT 100 000
Max. financing Amount BDT 1 000 000
Min. loan tenure 1 year
Max. loan tenure 5 year
Islamic / Conventional Conventional
Approval duration 7 working Days ( as soon as CIB report comes)

Fees and Charges

One time set-up Penalties
Processing fee
1%

Stamp duty
1% Service Charge
Early Settlement
2%

Late Payment Charges
2% on overdue amount

Eligibility

Age requirement
Age 25 - 65

Min Income requirement
BDT 25 000

Employment Eligibility
Salaried Employee
Self Employed

Other requirements


Need to open linked bank account?
Yes

Brac Bank Personal Loan

  1. Terms and Conditions
    #Income Requirement: BDT 15,000 for Salaried Executive; BDT 25,000 for Self Employed/Businessmen. Maximum Age Requirement: 60 (For Salaried) and 65 (For Businessmen). #If any applicant borrows between BDT 100000 to BDT 200000 then, tenure will be minimum 12 months to maximum 48 months. If the amount is BDT 300000 and above then tenure will be maximum 60 months. #Applicant who earns between gross BDT 15000 to BDT 34999 will get maximum 10 times of their salary amount as loan and those who earn BDT 35000 and above will get 10 times but not exceeding BDT 1000000.
  2. What will it cost you and how will you be charged?
    Processing Fee 1% and Service Charge 1%
  3. How long will the application take and what documentations are required?
    #It Will Take Only 7 to 10 Days After Submission of Loan Application #Documents Required: 1. Salary Certificate. 2. Salary Account Statement of Last 6 Months. 3. Photocopy of NID /TIN /Organization ID/ Visiting Card. 4. 2 Copy PP Size Photographs.
  4. Can you apply if you have a bad CIB Credit Record?
    No