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Overseas Employment Loan
Features
Purpose: To support for smooth departure for overseas employment of unemployed youths from the country & to save them & their families from borrowing money at higher rate of interest from illustrious class or village mohajon
Eligibility: Any Bangladeshi National intends to go abroad for employment
Loan Limit: Maximum Tk.2.50 lac
Tenure: Max. 03 years with 01 month’s grace period
Age Limit: 18-45 years
Interest, Fees & Charges:
- 14% interest p.a.
- Tk.200/- for loan application form
- 1% above over the prescribed rate on overdue amount as penal interest
- 2% on outstanding amount for early settlement
Criteria for selection of borrower
Any Bangladeshi permanent inhabitant of a particular locality intends to go abroad for employment
Analysis of Credit Proposal/Feasibility study
Status of guardian
Net-worth of guardian
Status of guarantor
Required Documents
Bio-Data of the applicant with 02 referees
Photocopy of valid Bangladeshi Passport
Copy of work permit
Copy of clearance from the Bureau of Manpower, Employment & Training (BMET)
Copy of appointment letter
Clean/satisfactory CIB
Approval
Credit Officials after checking and ensuring that all documents are in order will send the proposal for approval to Delegation of Lending Authority (DLA).
Sanction
Sanction Advice contains customer details, loan limit, interest, fees & charges, mode of disbursement, mode of repayment, other terms & conditions etc.
Disbursement
After complying all term & conditions of Sanction Advice along with all security documents, a checklist is sent to CAD/respective Division for drawdown permission.
Security
02 PGs among father, mother, brother, son, father-in-law, brother-in-law and mother-in-law of the applicant and must be acceptable to the bank
PG of spouse of the applicant (if any)
Original copy of the title deed with ancillary papers of the landed property owned by the applicant or guarantor(s)
Any other security acceptable to the bank (Lien of FDR or Scheme deposits/Life Insurance Policies/Bank Guarantees etc)
Usual bank charge documents
Deposits
Current Deposit Account
Savings Bank Account
Special Noticed Deposit Account
Fixed Deposit Account
Double Benefit Deposit Scheme
Family Maintenance Deposit
Mashik Sanchaya Prokalpa
Quarterly Benefit Deposit Scheme
1.5 Times Benefit Deposit Scheme
Advance Benefit Deposit Scheme
Loans
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Any Purpose Loan
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House Furnishing Loan
Cottage Loan
Overseas Employment Loan
E T P / Bio-Gas / Solar Energy Loan
Krishi / Polli Loan
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