Janata Bank Personal Loan

It’s crucial to be aware of the eligibility criteria set by banks or financial institutions. In this blog post, we will discuss the eligibility requirements for securing loans, as outlined by Janata Bank PLC.

Eligibility Criteria:

  1. Universities Recognized by the University Grants Commission:
    • Applicants must be enrolled in universities recognized by the University Grants Commission, adhering to all registration rules and regulations.
  2. Employment in Educational Institutions:
    • Individuals working in government and non-government educational institutions, including permanent and regular administrative staff, are eligible to apply.

Loan Details:

  • Loan Limit: Up to 20,00,000 BDT.
  • Interest Rate: 9.00%, subject to quarterly compounding (adjustable interest rate).
  • Installment Type: Monthly.
  • Loan Period: Maximum of 8 years or until the period of employment (whichever is earlier).

Security Requirements:

  1. Personal Guarantor:
    • The borrower’s spouse, parent, or close relative must provide family/personal guarantee.
  2. Third-party Guarantor:
    • A nominated third-party guarantor should be an employee, government officer, or co-worker (employed personnel) whose salary and allowances are managed through [Bank Name].
  3. Repayment Schedule:
    • Each installment is payable through a signed check, and an additional pre-determined amount and date must be specified for salary deposits. Cheques should bear the series number, and the borrower’s agreement letter is required for loan approval.

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