Mercantile Bank 1.5 Times Benefit Deposit Scheme

Mercantile Bank 1.5 Times Benefit Deposit Scheme

Key Product Features

Interest Rate N/A
Tenure 5 years 6 month
Interest Rate Additional Info # In case oof premature encashment interest will be paid on Saving A/C Rate.However, no interest shall be paid if premature encashment takes place before the expiry of 1 (one) year.
Compounding Yearly
Double/Triple Deposit? 6.71X
Islamic/Conventional? Conventional
Min. Amount 50000 BDT
Max. Amount N/A

Fees and Charges

Monthly Interest Before Tax N/A
Excise Duty N/A
Bank Charge N/A
VAT 15%

Eligibility

Eligibility
# 18 years old. # Bangladeshi Citizen.

Documents
#Name of applicant(s) together with name(s) of parents and spouse(s). #Present and Permanent Address. #Date of Birth. #Nationality. #TIN (if any). #Duly attested photocopy of valid Passport / Employer’s Certificate / ID Card / Driving Licence / Voter ID Card / National ID Card or Certificate about credentials by the local Ward Commissioner / Chairman of Union Parishad. #Two copies of recent passport size Photographs of account holder duly attested by the Introducer. #One copy of Passport Size Photograph of Nominee duly attested by the Account Holder. #Copies of Utility Bills, viz. Electricity Bill / Land Phone bill / Cell Phone Bill / Gas Bill / WASA Bill, etc. in the name of applicants.

Other Information

Features & Benefits
# Loan may be granted up to maximum 80% of the deposited amount but the minimum principal amount must be 20000 BDT. # Loan processing fee be realized BDT 50 only and usual stamp costs also realized.