Special Credit Program for Government Primary School Teacher.
The loan is automatically renewed if it’s past year interest & principal amount is completely recovered. But the application and necessary particulars will be required to grant loan for the following facts:
Maximum credit limit is equal to basic salary of one year. But not exceeding TK. 60,000/-(sixty thousands).
The rate interest of this program is 12% (variable).
With the grace period the maximum duration of this credit is 24 months.
Borrower must have saving A/C heading “Security Fund” at concern branch. From TK.300/- upto TK.1000/- must be cut from borrower salary and it transfer to that A/C. In this way a security fund (saving A/C) is created for the borrower. This A/C should be kept in lien status for the branch and no money withdrawal until the loan must be totally recovered. After having balance TK. 20,000/- of this A/C, the borrower can have another loan by following the Bank Rules.
After loan disbursement of one month, the total amount (interest & principal) must be paid by the maximum 24 monthly installment within the 10th of the month. For the loan payment easily borrower must be submitted signed 24 post dated cheque during the contact and papering.
Contact nearest branch.
N.B: Rate of interest is variable time to time by the Bank Interest Rate Principles.