Mercantile Bank Limited


 Cottage Loan

Purpose

:

For individual to build up or construct of semi-pucca building of 2 types along with pure drinking water facility:

a) Foundation up to plinth level, pucca floor, brick wall, roof of corrugated iron sheet/tiles, or

b) Foundation up to plinth level, pucca floor, corrugated iron sheet fencing, root of corrugated iron sheet/tiles.

Loan limit

:

Up to 70% of the total cost of semi-pucca/ corrugated iron sheet fencing construction and pucca floor space along with pure drinking water facility/tube-well will be inclusive in the project cost. However total loan amount shall not exceed Tk. 10 lac in any case.

Nationality

:

Bangladeshi

Age limit

:

From 21 years to 60 Years
Note: Age bar may be relaxed/waved by the Managing Director & CEO of the Bank on acceptable grounds.

Loan Processing Fee

:

0.50% of the loan amount plus 15% VAT on the processing fees.

Interest rate

:

Interest Rate

Repayment Method

:

Equated monthly installment.

Other fees & Charges

:

As per policy and scheduled charges of our Bank.

Tenure of the loan

:

Up to 7 Years.


 

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