Customer segment

:

Any eligible SME Customers

Purpose

:

To meet up legitimate short-term working capital requirements of business entity.

Loan limit

:

Tk 0.50 lac to Tk 50.00 lac.

Nationality

:

Bangladeshi

Age limit

:

From 21 years to 60 Years (last installment of the loan has to be deposited before the borrower reaches the age of 60).
Note: Age bar may be relaxed/waved by the Managing Director & CEO of the Bank on acceptable grounds.

Minimum income

:

Minimum income must be commensurate with the amount of loan requested.

Borrower’s eligibility

:

• must be literate.
• is skilled in managing his/ her business preferably 2(two) years.
• has good reputation.

• Incase of proprietorship concern, the borrower must be Banglaeshi by nationality. If the borrower is a Private Limited Company/partnership firm or a joint venture, it must be registered in Bangladesh and majority of shares owned by Bangladeshis.
• The applicant must be 100% privately owned, controlled and operated
• The principal place of business must be in Bangladesh.
• The project must be financially, economically and commercially viable.

• If the borrower is unable to provide collateral security but can arrange 02(two) personal guarantors [ 01(one) third party + 01(one) Family member and guarantors should be subject to the same credit assessment as made for the principal borrower and acceptable to the bank], he may avail certain amount of term loan. However, the loan amount is to be fixed as per Bank’s own policy.

• If the borrower is able to provide collateral security, guarantors’ requirement may be relaxed on the basis of banker customer relationship and case to case basis.
• Successful track record and good credit history will get advantage.

Security/Collateral

:

• Registered mortgage with Irrevocable General Power of Attorney of the property /ownership of the space/possession right purchased.
• Hypothecation of machinery, equipments, vehicles, inventories, advance payments.
• Lien of cash collateral (FDR, Scheme Deposit) and competent authority approved other encashable financial instruments.
•  Incase of proprietorship concern, personal guarantee of the proprietor and spouse.
• In case of Private Ltd Co or partnership firm, personal guarantee of all directors including Chairman & Managing Director/partners and their spouses to be obtained.
• In the Private Ltd Co/ partnership/ proprietorship firm, if the customer is unable to provide adequate collateral security, 02(two) personal guarantee including 01 (One) third party  (guarantors must be subject to the same credit assessment as made for the principal borrower and acceptable to bank).
• Usual charges documents.
•  Others as applicable in compliance with the policy of the Bank.

Documentation

:

• Valid trade license of the applicant along with 2 years old trade license preferable.

• Registered partnership deed (In case of partnership firm).
•  Copy of Memorandum and articles of association, certificate of incorporation duly certified by RJSC and Board resolution, List of latest directors attested by MD/CEO in case of private limited company.

• Attested copy of passport/national voter ID/ citizenship certificate from ward commissioner/Up chairman of the proprietor / partners/directors.
• Photograph of the proprietor/partners/a/c signatory attested by the applicant and verified by the relationship manager.
• Deposit a/c statements for latest 12 months.
• Statement of all loan accounts.
•  Latest clean/standard CIB report.
• Net worth statements of all borrowers and guarantors.
• Rental/lease/possession deed as applicable.
• Drug/Homeopathic/Explosive/BSTI/Import/Import license as applicable
• Clearance certificate from Department of Environment if applicable
• Original title deed(s) of the property along with the related documents in original such as Bia-Deeds, Mutation, DCR, CS/RS/SA Khatian, up to date  Khajna Receipt, Non-Encumbrance Certificates etc.
• Others as applicable in compliance with the policy of the Bank.

Insurance

:

Fire & Other insurance coverage as applicable

Interest rate

:

The interest rate is subject to change based on the market conditions and policy of the Bank.

Penal interest rate

:

1 % higher over the prescribed rate on overdue amount or as per policy of the Bank.

Other fees & Charges

:

As per policy and scheduled charges of our Bank.

Interest applied

:

Monthly rest basis

Tenure of the loan

:

Maximum 09 (Nine) months.

Repayment method

:

• Service interest on monthly basis.
• Entire outstanding loan amount will be repaid on or before the expiry date of the loan.