BURO Bangladesh Microfinance Loan

BURO Bangladesh Microfinance Loan

Buro Bangladesh was established in 1990 as a non-governmental social development organization working for the poor and rural people to reduce poverty and increase the income of ordinary people. It is known as a National Non-Governmental Social Development Organization. So far, it has provided high-quality flexible financial and social services to one million low-income people, especially poor women.

Any Bangladeshi citizen between the age of 18 to 60 years can become a member or subscriber of Buro Bangladesh by following the following process.

To become a member, Buro should contact the responsible staff of the nearest center/association in Bangladesh or the nearest branch with his necessary documents. The concerned branch authority will take necessary measures to admit interested customers/members to the branch after completing verification, survey, and other ancillary work. After being approved members can receive all necessary services from Buro Bangladesh.

Required Documents for registration

• Copy of National Identity Card of Member/Customer
• 02 copies of recent passport-sizes photographs of member/customer
• A total of 25 Taka for admission fee, passport fee, and other fees
• Become a subscriber/member by filling out the prescribed admission form and submitting it to the Buro Bangladesh office.

Bureau Bangladesh offers loan interest rates ranging from 15% to 24% depending on the loan type and repayment tenure of 1 to 3 years.

Buro Bangladesh provides loan services in different categories on easy terms in various fields to improve the livelihood of common people including general loan, agricultural loan, SME loan, water, and sanitation loan, and disaster loan.

Loan products are available at BURO Ban

General Loan:

• Description and purpose:
  • Members of the organization can take loans for business or income-generating activities
  • This loan helps to create self-employment and meet the shortage of capital in the current business.

• Loan Title: General Loan
• Loan Amount: BDT 5,000-BDT 25,00,000 maximum
• Service Procedures: Buro Bangladesh Office and outside office
• Type of Installment: Weekly / Monthly
• Loan Tenure: Maximum 36 months
• Interest rate: 24%

Agriculture Loan:

• Description and purpose:
  • Cash assistance to farmers
  • Building self-organized power in agriculture
  • Getting used to using technology in a modern way

• Loan Title: Agriculture Loan
• Loan Amount: BDT 10,000-BDT 25,00,000 maximum
• Service Procedures: Buro Bangladesh Office and outside office
• Type of Installment: Weekly / Monthly
• Loan Tenure: Maximum 36 months
• Interest rate: 24%

Micro-Enterprise Loan:

• Description and purpose:
  • This loan is provided for those who want to be self-dependent on their own initiative
  • This loan is provided to expatriate family members who are staying in the country

• Loan Title: Micro-Enterprise Loan
• Loan Amount: BDT 50,000-BDT 25,00,000 maximum
• Service Procedures: Buro Bangladesh Office and outside office
• Type of Installment: Weekly / Monthly
• Loan Tenure: Maximum 36 months
• Interest rate: 24%

Water and Sanitation Loan:

• Description and purpose:
  • This loan is provided for the purpose of providing clean drinking water and sanitary latrines in all rural areas where drinking water and to make clean water unavailable for household use

• Loan Title: Water and Sanitation Loan
• Loan Amount: BDT 5,000-BDT 50,000 maximum
• Service Procedures: Buro Bangladesh Office and outside office
• Type of Installment: Weekly / Monthly
• Loan Tenure: Maximum 12 months
• Interest rate: 24%

Disaster Loan:

• Description and purpose:
  • Buro Bangladesh provides this loan assistance to overcome business losses or capital shortages following a disaster declared by the government

• Loan Title: Disaster Loan
• Loan Amount: Up to BDT 20,000
• Service Procedures: Buro Bangladesh Office and outside office
• Type of Installment: Weekly / Monthly
• Loan Tenure: Maximum 12 months
• Interest rate: 18%

Also, there are some conditions for getting a loan.

For members of the Center:

• Age to join the center should be at least 02 weeks
• There should be a habit of paying regular savings deposits
• Contribution to the Financial Security Fund at the prescribed rate
• Must attend regular center meetings
• The borrower must avail himself of the loan for the promised work
• Members should be aware of their responsibilities and duties by trusting the rules of the organization
• A person who wants to take loan should be able to work.

For non-center members:

• Must be a member/subscriber as per the prescribed rules of the organization
• Loans should be taken for visible work/business
• Contribution to the Financial Security Fund at the prescribed rate
• The borrower must use the loan himself for the promised work
• Members should be aware of their responsibilities and duties by following the rules of the organization
• A person who wants to take loan should be able to work.

Members/customers of all branches operating in hilly areas will get special benefits for any type of loan. The loan service charge for members/customers in hilly areas will be 12%.

Frequently Asked Questions (FAQs) on Buro Bangladesh Loans

Q: Who is eligible for Buro Bangladesh Loan?
A: Any Bangladeshi citizen is eligible for a Buro Bangladesh Loan.

Q: How do I take a loan from Buro Bangladesh?
A: To take a loan from Buro Bangladesh, you must become a member of the organization and apply for the loan at any branch nearest to you.

Q: How much is the maximum disaster loan I can take from Buro Bangladesh?
A: The maximum disaster loan amount you can take from Buro Bangladesh depends on your membership status with the organization. You must be a member to apply for a loan at your nearest branch.

Q: What is the maximum loan amount available for agriculture from Bureau Bangladesh?
A: The maximum loan amount available for agriculture from Buro Bangladesh is determined by your membership status with the organization. You must be a member to apply for a loan at any branch near you.

Q: What is the address of BURO Bangladesh?
A: Visit: Buro Bangladesh