Government Primary School Teacher Credit Program

Program Name:

Special Credit Program for Government Primary School Teacher.

Eligibility for the Loan:

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:

  • Must be govt. primary teacher
  • Must be permanent resident of concern upazila
  • Salary must be paid through RAKUB Branches
  • Service duration and remaining from PRL must be three year

Loan Ceiling:

Maximum credit limit is equal to basic salary of one year. But not exceeding TK. 60,000/-(sixty thousands).

Rate of interest:

The rate interest of this program is 12% (variable).

Loan Duration:

With the grace period the maximum duration of this credit is 24 months.

Security Fund:

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.

Procedure of Recovery:

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.

Details Information:

Contact nearest branch.

N.B: Rate of interest is variable time to time by the Bank Interest Rate Principles.