Eastern Bank launches SME banking

Eastern Bank Ltd (EBL) launched small and medium enterprises (SME) banking on Thursday.


The bank has categorised the SME loan into two products--'Asha' and 'Puji', says a press release.


'Asha' offers Tk two lakh to Tk 10 lakh loan, which is repayable in three to 24 months in equal instalments. A sole proprietorship business, partnership firm or a private company operating successfully for minimum two years can apply for it, which does not need a collateral security.


For 'Puji', the loan amount ranges from Tk five lakh to Tk 50 lakh, which is repayable in 12 to 36 months. The minimum operation period of the business organisation to get this loan is three years.


The EBL's SME banking facility will be available at nine SME centers in Dhaka, Chittagong, Sylhet, Bogra and Khulna.


Muhammad A Rumee Ali, deputy governor of Bangladesh Bank, formally launched the two products at a function where K Mahmood Sattar, EBL managing director and CEO, Ali Reza Iftekhar, additional managing director, and Kamal Talukder, head of SME banking of the EBL, among others, were present.

City Bank launches SME loan for women entrepreneurs

The City Bank Monday launched a new SME loan product especially for promoting country's women entrepreneurs.

Managing Director and CEO of the commercial bank K Mahmood Sattar officially launched the loan package styled 'City Nokshi' at a city hotel.

Speaking on the occasion, Mr Sattar said the new loan product at 10 per cent interest rate in line with the guidelines of Bangladesh Bank is only available for the women entrepreneurs of the country.

He said the product aimed at promoting the prospective women entrepreneurs so that they can be sensible partners of the women community in business as well as continuing their active participation in social development.

This package will be available at all SME outlets of the bank and clients will be able to apply for loan ranging between Tk 0.1 million and Tk 2.5 million subject to completion of easy and soft conditions, City Bank CEO said.

Head of SME Banking Badrudduza said this package would provide four types of SME loans such as Muldhan, Sheba, Shulov and Munafa. The collateral-free loan is payable within 18 months with Tk 6005.71 monthly installment and partially collateralised loan within 40 months with Tk 2950.08 monthly installment.

Speaking as chief guest, Women Entrepreneurs Association of Bangladesh President Rehana Rahman said collateral-free loan is a good opportunity for women entrepreneurs of the country.

Mrs Kabita Begum, proprietor of K B International, received the first Nokshi loan worth Tk 2.5 million from the CEO of the bank.

Bangladeshi nationals having one and a half years' of experience in any legitimate business supported by trade licence and aged between 24 and 50 years are eligible to apply for the loan.

Deputy Managing Director (Business) Sohail R K Hossain and Head of Brand and Marketing Aftab Mahmood Khurshid, among others, were present on the occasion.

SME Loan - Standard Chartered Bank

Loan Against Property

At Standard Chartered we strive to meet your needs in a competitive and dynamic business environment. We understand that, as an SME, you require quick access to cash, and the flexibility to leverage your assets to fuel your business growth.
Standard Chartered’s Loan Against Property provides the liquidity you need to grow your business or meet cash flow requirements. The loan enables you to leverage your property to obtain financing.

Features

Loan against property is very flexible and is designed to meet the different financial needs of your business. Want to expand your business leveraging on your existing property? With Loan Against Property you can undertake long term investments for expansion. In the process Loan Against Property also enables you to build up business equity by repaying the loan in monthly installments.

• Maximum Loan: BDT 28,000,000 (taka two crore eighty lac) only
• Minimum Loan: BDT 1,400,000 (taka fourteen lac) only
• Interest Rate: 16% per annum
• Tenor: 3 Years - 10 Years (i.e. 36 to 120 EMIs payments)
• Maximum % of loan amount against market value of the property:
  For Commercial Property 60% of property’s current market value
  For Residential Property 70% of property’s current market value

Following table indicates the monthly repayment amount or the equal monthly installments (EMI) is given below:

Eligibility
To be eligible to apply for this loan, the applicant must fulfill the following criteria:

• At least 3 years of experience in same business
• A minimum annual turnover of BDT 7,000,000 (Taka Seventy Lac) only

Property Documentation Requirement:

1. For Government/Leasehold Land:
   
   
   
   
   
   
   
   1. Lease Deed/ Ownership Deed (photocopy)
   2. Baya Deed for at least 25 years, if any (photocopy)
   3. Development Agreement/ Joint Venture Agreement with the land owner/ developer
   4. Power of Attorney (if any)
   5. Power of Attorney Acceptance Letter from lessor of the property
   6. Mutation (any one)
      
      
      
      
      
      
      
      1. Mutation Letter from RAJUK/ CDA
      2. Mutation Letter from National Housing Authority (NHA)
      3. Mutation Letter from Ministry of Works
      
      
      
      
      
      
   7. Duplicate Carbon Receipt (DCR) with Mutation Order Sheet
   8. Up to date Municipality Tax Receipt
   9. Up to date Land Tax Receipt
   10. Non-Encumbrance Certificate (NEC)
   11. Approved Plan/ Layout Plan and Approval Letter by RAJUK/CDA/Concerned Authority
   12. Any other documents as advised by the bank’s lawyer
   
   
   
   
   
   
   
   
2. For Private/Freehold Land:
   
   
   
   
   
   
   
   1. Ownership Deed (photocopy)
   2. Baya Deed for atleast 25 years, if any (photocopy)
   3. Development Agreement/ Joint Venture Agreement with the land owner/ developer
   4. Power of attorney (if any)
   5. Recent Survey Report (i.e. Math Parcha Duly attested)
   6. CS, SA, RS Parcha (PS, BS, RS Parcha- only applicable for Chittagong)
   7. Mutation Parcha and Mutation Proposal Sheet
   8. Duplicate Carbon Receipt (DCR) with Mutation Order Sheet
   9. Up to date Municipality Tax Receipt
   10. Up to date Land Tax Receipt
   11. Non-Encumbrance Certificate (NEC)
   12. Approved Plan/ Layout Plan and Approval Letter by RAJUK/ CDA/ Concerned Authority
   13. Any other documents as advised by the bank’s lawyer
   
   
   
   
   
   
   
   

Please note that the above requirements are not exhaustive and the bank may require further documentation for credit assessment on a case to case basis.

Charges

• Loan Processing Fee: 1.5% of the approved amount
• Valuation Fee: BDT 5000 per property
• Legal fee: BDT 7000 property
• Early Settlement Fee: 5% on outstanding amount if repaid at any given time before maturity of the loan
• VAT and Stamp Charges: All charges and fees are subject to 15% VAT, to be paid by the customer. Stamp charge will be at actual to be paid by the customer.

Please note both valuation and legal fees are non-refundable and inclusive of processing fee of 1.5%+VAT of the loan. Both fees will be discounted from the said processing fee at the time of loan disbursement if the loan is approved by the bank, the facility is availed by the customer and the property(s) are mortgaged in favor of the Bank.

Frequently Asked Questions (FAQs)

Q    Who is Eligible?
A    Businesses (private limited, partnerships and sole proprietorships) with atleast 3 years of business operations.
Q    Do I need a minimum sales turnover?
A     Yes, your business requires a minimum sales turnover of BDT 7,000,000 (Tk. Seventy Lac only) to be eligible to apply for the loan.
Q     What is the maximum loan amount that I can avail?
A     You can avail up to BDT 28 million (Taka 28,000,000 only) provided your income supports the monthly repayments, the loan amount does not exceed the 60% or 70% (as applicable) of your property’s current market value and other conditions/requirements are met as per bank criteria.
Q     What types of properties are eligible as securities for this type of loan?
A     You can provide both your residential or commercial properties as securities for this loan; except for vacant land. All these properties must be located within the Dhaka or Chittagong metropolitan area. The eligible commercial properties are shops and office spaces.
Q     What is the repayment mechanism for Loan Against Property?
A     Loan Against Property is an installment based term loan, which gives you the peace of mind of knowing what your fixed monthly repayments (EMIs) are going to be. It also helps your business to build up its equity We provide the maximum flexibility to repay the loan at your convenience. You can choose a tenor from 36 months to 120 months (3 Years to 10 Years).
Q     I have a residential/commercial property mortgaged with another bank; can I still take up loan against property?
A      Yes, if you have an existing mortgaged property with another bank, you can take up Loan Against Property where we will re-finance your mortgage. In such cases your existing bank must release the mortgage and handover the mortgage to us. The loan outstanding (with another bank) may be settled by you or taken over by us, depending on the nature of the facility.

Auto Loan - Standard Chartered Bank, bangladesh

Auto Loan

With Standard Chartered Auto Loan, it is easier than ever to buy the car of your dreams. Our Auto Loan Scheme offers you a flexible and affordable loan with easy repayment options, all wrapped in a very convenient package. You can purchase new, reconditioned, or second-hand cars with Standard Chartered Auto Loan.

Features:

• Loan amount up to 90% of vehicle value
• Maximum loan amount up to BDT 2 million
• Longest loan tenor up to 60 months
• Competitive interest rates and absolutely transparent fees & charges
• Fast Loan approval process
• Options for early settlement and partial pre-payment of the loan
• Loan available for reconditioned / second-hand vehicles up to 6 years old from the year of manufacture
• Maximum allowable age of the vehicle at the end of the loan tenor is 10 years in case of Toyota-manufactured vehicles, and 8 years in case of other brands
• Who can apply?: Salaried professionals / Businesspersons / Landlord or landlady / Self-employed Individuals
• Minimum age of applicant: 23 years
• Maximum age of applicant: 65 years
• Work Experience: Minimum 1-year service experience for salaried executives & 3 years’ experience for businesspersons or self-employed individuals
• Nationality: Bangladeshi
• Minimum net income: BDT 32,500 per month

Convenient:

At Standard Chartered, we believe in delivering our services to customers’ doorsteps. Just call us at the 24-hour Contact Centre and our trained sales representatives will visit you at your convenience to brief you on Auto Loan. They will help you understand the loan features and the detailed application process, and can even help you choose your dream car from some of the most reputed car dealers in the city. You can also visit any of our branches for more information.
http://www.carhousebd.com/showroom/

Car Loan - BRAC Bank

Why toy with your dreams when you can own one', BRAC Bank Car Loan can stop your dreaming and Start driving Whether you want to purchase a brand new car or a reconditioned one, we have the most customer-friendly car loan scheme available for you.

Eligibility

• Both salaried executives and business persons
• Age between 21 at the time of application to 60 at the time of maturity
• Minimum monthly income BDT 25,000
• Length of service/Age of business: Minimum 2 years

For any banking needs please call 24 hour Phone Banking: 01819 230000 or e-mail us at enquiry@bracbank.com

Car Loan - IDLC

Owning car is no longer a luxury anymore; rather it is a useful investment that improves your quality of life. The family car is increasingly becoming a vital part of our everyday life. With IDLC Car Loan, you can own your own car and add excitement to your life.

BENEFITS

• Loan sanction within 72 hours of application receipt*
• An opportunity to finance both brand new and re-conditioned cars
• No security
• No personal guarantee
• Competitive interest rate
• Expert advice on car market conditions
• Dedicated and supportive service both before and after disbursement
• Partial or full prepayment option with minimum charges
* Provided that all required documents have been provided to IDLC

ELIGIBILITY

• You are eligible if you are:
• A salaried executive or professional or a businessman
• Between 22 and 60 years of age
• Minimum monthly income of Tk. 25,000/- (this will include income of spouse in case of joint application)
• A minimum of two (2) years of service
• A resident of Dhaka or Chittagong

LOAN AMOUNT

We provide maximum assistance to fulfill your requirement. We are ready to finance both brand new and re-conditioned cars. You can avail car loan from Tk 200,000/- to Tk. 4,000,000/- or 70% of the value of your car (including registration cost), whichever is lower. If you are ready to provide 50% of the car value as cash deposit with IDLC, you will enjoy a special rate for your entire car loan.

PREPAYMENT TERMS

With our attractive car loan package, you are able to repay the loan according to your convenience. Choose a maximum of 60 months to repay the loan for your brand new car or re-conditioned car

DOCUMENTATION REQUIRED

Employed

• One recent copy of passport size photo, National ID card and Bio data
• Application form (properly filled up)
• Employment confirmation form (properly filled up)
• Price quotation from the vendor
• CIB undertaking form (properly filled up)
• Latest salary slip/salary certificate
• Personal bank statements for last 12 months
• Rental income/other income documents
• Documents supporting other fixed assets
• Documents supporting liquid assets

Self Employed

• One recent copy of passport size photo, National ID card and Bio data
• Tax assessment paper for last 3 years
• Profit & Loss account and Balance sheet of business for last 3 years
• Company bank statements for last....months
• Memorandum & Articles of Association with form Xll of the company
• Trade license
• Price quotation from the vendor

Non Resident Bangladeshi (NRBs)

• One recent copy of passport size photo and Bio data
• Photocopy of the passport with evidence of arrival of port of entry, visa stamped pages
• Employment contract
• Residency permit/work permit
• Latest work permit
• Overseas bank statements for last 12 months months
• Tax papers for last three years
• Utility bills copy

Car loan - HSBC

So you have found your dream car that you have always wanted. Now comes the difficult part - arranging for the funding. You approach banks and financial companies who want guarantees and securities against loans and you feel your dream slipping away. Now with a car loan from HSBC, you can make your dream come true.

Features

• No personal guarantee or cash security
• Wide range of loan amounts -
    - Minimum: BDT100,000
    - Maximum: 75% of brand new car value or 70% of reconditioned car value (up to a maximum of BDT2,000,000)*
• Competitive interest rates
• Interest is calculated on monthly reducing balance
• Low processing fees
• Flexible repayment schedule of 12, 24, 36, 48 or 60 months

*The loan amount does not cover registration, insurance and other costs. 

Eligibility

• Age: At least 23 years
• Professional Experience:
     - Salaried: Employed for at least two years by a well-reputed company
     - Self-employed: Business establishment for at least two years (with adequate proof)
• Minimum Monthly Income:
     - Salaried: BDT 20,000
     - Self Employed: BDT 50,000

Requirements

• Manufacturing year of the car must be within 5 years of application date
• The car must be covered under a comprehensive car insurance policy
• Documents stated in the Application Form

*All of the above conditions are subject to change
*Other Conditions Apply
*Last updated in March, 2009

Need to know more

• Call now on 01199 88LOAN (5626), 01199 88HSBC (4722)

 

 

 

 

 

Car Loan - Dhaka Bank

Car Loan is a term financing facility to individuals to aid them in their pursuit of have a car of their dream. The facility becomes affordable to the clients as the repayment is done through fixed installment s commonly known as EMI (equal monthly installment) across the facility period. Depending on the size and purpose of the loan, the number of installments varies from 12 to 60 months. In case of brand new cars the loan tenure will be maximum 72 months.
Targeted market
The target market for personal loan will mainly comprise of following category
1. Salaried employees of institutions in cities where Dhaka Bank Operates.
2. Professionals who are self employed and have at-least 3 years of independent practice in the area of profession.
3. Businessmen who are permanent residents of Dhaka, Chittagong, Sylhet metropolis and where Dhaka Bank Operates with at least 3 years of continued operation in the line of business.
Restrictions and client eligibility
1. Loans are restricted to Bangladeshi nationals falling in the categories mentioned below. The minimum age for any borrower is 21 years and the maximum age is 57 years with a minimum verified Gross Family Monthly Income of BDT 10,000.