BRAC Bank Shubidha Digital Loan App
BRAC Bank introduces ‘Shubidha,’ the first-ever end-to-end digital lending app in Bangladesh. This innovative platform allows customers to apply for loans from the convenience of any location, eliminating the need for branch visits or meetings with bank staff. The Shubidha app offers two types of Personal Loans:
1. Instant Loan:
Purpose: To meet emergency cash needs.
Loan Limit: BDT 10,000 to BDT 3 Lakhs.
Tenure: 3, 6, 9, 12, 18, 24, 36 months.
Disbursement Mode: Loan disbursed in customer’s BRAC Bank account in up to two (02) phases.
Eligibility: Salary accountholders of BRAC Bank.
2. Shaddho Digital Personal Loan:
Purpose: To purchase desired products and services from BRAC Bank’s enlisted partner outlets.
Loan Limit (Preapproved): BDT 20,000 to BDT 3 Lakhs.
Tenure: 6, 9, 12, 15, 18 months.
Financing Limit: Up to 90% of the product value, not exceeding the preapproved limit.
Disbursement Mode: The product purchase price will be directly paid to the merchant account, excluding the customer’s down payment. Customers can buy multiple products with an approved loan limit from the same/different outlets.
Eligibility: Selected accountholders of BRAC Bank who fulfill the minimum criteria of Digital Loan. Eligible customers receive an offer SMS from BRAC Bank.
Interest Rate and Fees
- Interest Rate: Applied in accordance with Bangladesh Bank’s interest rate guidelines and the prevailing BRAC Bank interest rate.
- Supervision Charge: None.
- Other fees and charges: Applicable as per the retail loan Schedule of Charges.
Other Special Features
- No need to visit a bank branch or contact any bank representative.
- No requirement for supporting documents, guarantor, and cheque for loan processing.
- Two (02) months’ loan approval validity.
Loan Processing Steps in Shubidha App
- Registration: Register in Shubidha App using your bank-recorded mobile number and active debit card.
- Eligibility Check: Check your eligibility for your desired digital loan. If eligible, view your assigned loan limit.
- Loan Application & Decision: Apply for a digital loan during working hours and get loan decision (approval/decline) in a few minutes.
- Loan Disbursement: Disburse your loan directly to your account or purchase products from listed partner outlets.
Experience the ease and speed of digital lending with BRAC Bank’s Shubidha app – Your instant financial solution!
FAQs: BRAC Bank Shubidha Digital Loan App
Q1: How can I apply for a loan using the Shubidha app?
A: You can apply for a loan using the Shubidha app by visiting the bank’s official website, the nearest branch, or through online application.
Q2: What are the two types of Personal Loans offered on the Shubidha app?
A: The Shubidha app offers Instant Loans for emergency cash needs and Shaddho Digital Personal Loans for purchasing products and services from partner outlets.
Q3: What is the loan limit for the Instant Loan on the Shubidha app?
A: The loan limit for the Instant Loan ranges from BDT 10,000 to BDT 3 Lakhs.
Q4: What is the maximum tenure for the 0% EMI installment of the Shaddho Digital Personal Loan?
A: The maximum tenure for the 0% EMI installment of the Shaddho Digital Personal Loan is 36 months.
Q5: What is the maximum amount of advanced money I can take with the Shaddho Digital Personal Loan?
A: You can take advanced money up to 50% of the credit card limit.
Q6: What is the annual interest rate for loans through the Shubidha app?
A: The annual interest rate for loans through the Shubidha app is 20%.
Q7: Are there any supervision charges for loans on the Shubidha app?
A: No, there are no supervision charges for loans on the Shubidha app.
Q8: How can I check the status of my loan application on the Shubidha app?
A: You can check the status of your loan application by logging into the Shubidha app during working hours.
Q9: What are the eligibility criteria for the Shubidha app loans?
A: Eligibility criteria vary for each type of loan. Instant Loans are for salary accountholders, and Shaddho Digital Personal Loans are for selected accountholders who receive an offer SMS from BRAC Bank.
Q10: What documents do I need to submit for loan processing through the Shubidha app?
A: There is no need for supporting documents, guarantor, or cheques for loan processing on the Shubidha app.