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CONSUMER LOAN
This product targets employees of potential companies or institutions targeted by the Bank (such as NGOs, International Organizations, Embassies, schools, brewery companies, oil companies, construction companies, trade unions or cooperatives, micro-finance institutions, etc.) with the intention of mobilizing local and foreign currency.
TARGET
Employees of companies or institutions
that have strong relationship with the Bank in Deposit and foreign currency generation. Employees of companies or institutions with potential in deposit and foreign currency generation that are willing to work with the Bank for a foreseeable future.
Features
Salary-Based Emergency Loan
The loan is provided
mainly for personal needs (like purchase of household items, education fee and medical expenses
The loan amount
is based on the borrower’s salary amount; if he is married the spouse’s salary would be considered to determine the loan
The maximum loan
amount should not exceed six month salary of the employee.
The repayment
of the loan cannot exceed 1/3 of the monthly salary of the borrower and / or his spouse.
Interest rate
on the loan and maturity period is as per the bank’s terms and tariffs.
Loan repayment
is from salary upon written and signed consent of the borrower and spouse.
Requirement
The employer should work with the Bank by maintaining its account and employees’ payroll as well as other employee benefits like Provident fund.The loan amount dedicated to the company’s employees will be at maximum 10% of average annual foreign currencychannelled to the Bank or the minimum deposit balance mobilized from the company and its employees. All the requirements for credit facilities stipulated in the Bank’s Credit procedures will also apply.
Features
Asset-Based Loan
The loan is provided
mainly for purchase of residential house and automobile.
The loan amount is based
on the borrower’s salary amount; if he is married the spouse’s salary would be taken together to determine the loan
The repayment of the loan
cannot exceed 1/3 of the monthly salary of the borrower and / or his spouse.
Interest rate on the loan
and maturity period is as per the Bank’s terms and tariffs.
The maturity period
for Automobile loan is 10 years and that of house is 15 years
The financed automobile
and house are held as collateral.
The loan payment is effected
directly to the seller upon written and signed consent of the borrower and spouse.
Requirement
The employer should work with the Bank by maintaining its account and employees’ payroll as well as other employee benefits like Provident fund.The loan amount dedicated for the company’s employees will be at maximum 10% of average annual foreign currencychannelled to the Bank or the minimum deposit balance mobilized from the company and its employees. All the requirements for credit facilities stipulated in the Bank’s Credit procedures will also apply.