|1.||Target Group||:||Employees of Govt., reputed PSUs, profit making Public Limited companies and reputed institutions/Self employed engineers, doctors, architects, Chartered Accountants, MBAs,/Traders.|
|2.||Eligibility||:||a) Employees of Govt., reputed PSUs, profit making Public Limited companies and reputed institutions with minimum of 2 years of service.
b)Self employed engineers, doctors, architects, Chartered Accountants, MBAs, with minimum 2 years standing. They should be 60 years of age or less. Branch In-Charge may relax the age upto 70 years in very special cases where a strong third party guarantee is available.
Minimum 50 marks as per credit scoring model would be required.
|3.||Purpose||:||The scheme envisages sanction of general purpose loans for individuals.|
|4.||Type of facilities||:||Term Loan|
|5.||Minimum Income||:||a) For employees, the net minimum income should be Tk 8,000/- per month (NMI).
b)For self employed professionals/Traders :
The net annual income/profit should be Tk 1,00,000/-
c)Income from all sources can be considered.
d)Income of spouse can be considered if the loan is availed jointly or the spouse guarantees the loan.
|6.||Quantum of Finance||:||Minimum : Tk 1,00,000/-
Maximum : 24 months’ NMI net of all deductions including tax for salaried individuals, 1 year’s net annual income in case of self employed professionals and 1 year’s net annual profit during the preceding financial year or Tk 1 lac, whichever is lower, may be sanctioned with a ceiling of 10 lacs.
|8.||Rate of Interest||:||As applicable from time to time.|
|9.||Security||:||No security should be insisted upon except a 3rd party guarantee of a person acceptable to the bank.|
|10.||Processing fees||:||1% of loan amount. The Branch In-Charge will have discretion to reduce the processing fees by up to 50%:
i) where bulk business is involved and a check off facility from a reputable employer is available.
ii) during short period promotional drives.
iii) considering the value of the customer.
|11.||Repayment||:||The loan should be repaid within 48 months through Equated Monthly instalments (EMIs).
Post dated cheques to be obtained for the entire amount of EMIs.
|12.||Documentation||:||Standard documents for personal loans.|
|13.||Delegation Of Finance Powers||:||As per the delegation of authority.|