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% Interesr rate varies from 10.5% to 12.75% depending on yhe customer segment. |
|---|---|
| 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 | Brac Bank will take 7 working Days (as soon as CIB report comes) to review and approve your loan request after submission of loan application. |
Fees and Charges
| One time set-up | Penalties |
|---|---|
|
Processing fee 1% on approved loan amount. Stamp duty 1% Service Charge |
Early Settlement 2% on overdue amount. Late Payment Charges 2% on overdue amount |
Eligibility
Age requirement
Age 25 - 65
Min Income requirement
BDT 30 000
Employment Eligibility
Salaried Employee
Self Employed
Need to open linked bank account?
Yes
Age 25 - 65
Min Income requirement
BDT 30 000
Employment Eligibility
Salaried Employee
Self Employed
Other requirements
Need to open linked bank account?
Yes
Brac Bank Personal Loan
- 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. - What will it cost you and how will you be charged?
Brac Bank will charge the following fees while processing this loan : 1. Processing Fee 1%. 2. Service Charge 1%. - How long will the application take and what documentations are required?
#Loan Request Approval Time : One Bank will take 7 to 10 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 : 1. Salary Certificate. 2. Salary Account Statement for Last 6 Months. 3. Photocopy of NID /TIN /Organization ID/ Visiting Card. 4. 2 Copy PP Size Photographs. - 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.