A safe and comfortable lifestyle requires having a safety plan to deal with unplanned/immediate needs at any time. Usually, we continue living in an unplanned way and if someone thinks about the upcoming problems and saves some money in a planned way, then we don’t rush in times of danger.
What is Meghna Bank Personal Loan?
A personal loan is a loan from a bank, credit union, or online institution that you have to pay back in fixed monthly installments, usually with a tenure of 6 months to 5 years. Personal loans are sometimes called “signature loans” or “unsecured loans” because the institution does not pledge anything to you to secure the personal loan. Interest rates on personal loans are usually fixed. The interest rate never changes, so you pay the same amount monthly for your loan.
Features of Meghna Bank Personal Loan
- Loan amount: Minimum Tk. 50,000 to Maximum Tk. 10,00,000
- Repayment tenure: up to 5 years
- Re-payment procedure: Equal Monthly Installments.
- No extra hidden cost
- e-Statement: Monthly e-statement facility.
Charges & Fees:
- Processing fee:
- Loan up to Tk. 50 Lac: 0.50% (But its amount will not exceed Tk. 15000)
- Loan more than Tk. 50 Lac: 0.30% (But its amount will not exceed Tk. 20000)
- Early Settlement Fee: 0.50% of the total loan outstanding
- Partial Settlement Fee: Up to 0.50% on the partial payment amount
- Loan Re-scheduling Fee: 0.25%
- Penal Charge: 2%
Eligibility of Meghna Bank Personal Loan
- Age limit: Minimum 23 years, Maximum 60 years at loan maturity*
- Minimum income: Rural Area BDT 20,000 and Urban Area BDT 30,000
- Experience:
- Salaried: Minimum 1 year
- Professionals: Minimum 2 years of practice
- Businessman: Minimum 5 years
- Any Bangladeshi individual who has the means and capacity to pay back the bank loan. In specific terms, these could be salaried executives of multinational and middle to large size local corporate, educational institutes, government officials, officials working in reputed NGOs (Non-Government Organizations), international aid agencies, and UN bodies, having a reliable source of income.
Required Documents to apply for Meghna Bank Personal Loan
Here are the documents you need to submit when applying for a personal loan from Meghna Bank.
Common Required Documents:
- Two copies of recent size photographs.
- Photocopy of National ID.
- Copy of the Latest Tax Clearance Certificate or E-TIN Certificate
- Bank Statement for last 12 months with the reflection of salary/Professional Income/Business Turnover/Rental Income
- Copy of latest utility bill.
- Loan statement and Loan Sanction Letter (if any).
Salaried Individuals:
- Latest Salary Certificate
- Copy of Office ID/Business Card (if any)
Businessmen:
- Valid Trade License for last 3 years
- Partnership deed for partnership business.
- Up to date schedule X and Form XII for Limited Company.
Self Employed Professionals:
- Copy of Professional and/or Registration Certificate.
Landlord:
- Copy of Rental Deed.
- Copy of Title Deed.
Legal Property-Related Documents:
- Ownership/Lease Deed.
- Bia deed for the last 25 years.
- Mutation Khatian with DCR (Duplicate Carbon Receipt).
- Up to date Land Tax Receipt.
- UP to date Non-Encumbrance Certificate (NEC)
- CS/RS/SA/PS/BS Khatians
- Recent Survey Report/Math Parcha/City Jorip
- Municipal Holding Tax Payment Receipt
- Approved Layout Plan with an approval letter from the concerned authority.
- Agreement & IGPA between Landowner and developer (in case of flat purchase)
- In case of lease-holding property mortgage permission from the concerned authority is to be obtained before disbursement.
Frequently Asked Questions (FAQs) for Meghna Bank Personal Loan
Q: What are the criteria for getting a Personal Loan?
A: To avail a Personal Loan, one should fulfill the following criteria:
- Bangladeshi citizen
- Salaried Person
- Self Employed Professionals
- Businessman
Q: What are the minimum and maximum loan limits of Bank Asia Personal Loan?
A: The minimum loan limit for Bank Asia Personal Loan is TK. 50 thousand, and the maximum is TK. 10 Lac.
Q: What are the minimum and maximum loan tenure of Bank Asia Personal Loan?
A: The minimum loan tenure for Bank Asia Personal Loan is 24 months, and the maximum is 60 months.
Q: What is the interest rate of a Personal Loan?
A: The interest rate for a Personal Loan typically ranges from 8.00% to 9.00%.
Q: What is the customer’s age limit for a Personal Loan?
A: The customer’s age limit for a Personal Loan ranges from a minimum of 23 years to a maximum of 65 years at the time of loan maturity.
Q: What is the required minimum income for an Unsecured Personal Loan?
A: The required minimum income for an Unsecured Personal Loan is TK. 20,000.
Q: Is there any option to increase your Personal Loan?
A: Yes, there may be options available to increase your Personal Loan, subject to the lender’s terms and conditions.
Q: What is the Personal Loan disbursement mode?
A: The disbursement of the Personal Loan is made by crediting the customer’s savings account with Meghna Bank.
Q: What is the Early Settlement Fee for Meghna Bank Personal Loan?
A: The Early Settlement Fee for Meghna Bank Personal Loan is 0.50% of the total loan outstanding.
Q: Can I get a monthly e-statement facility for personal loans?
A: Yes, you will receive an e-statement facility for your personal loans.
Q: What is the contact information of Meghna Bank Limited?
A: You can reach Meghna Bank Limited at the following address:
Meghna Bank Principal Branch
Suvastu Imam Square (Level- 06) 65 Gulshan Avenue, Gulshan- 01
Dhaka-1212, Bangladesh
PABX: +(880 2) 9857251, 9857045, 9857089, 9851669
Fax: +(880 2) 9857124, 9857128
Email: info@meghnabank.com.bd