Pubali Bank House Hold Durable Loan

To improve consumers’ quality of life, Pubali Bank offers a loan scheme through which consumers can apply for loans for durable goods. It is a scheme that pays the consumer to purchase household durables such as washing machines, air conditioners, laptops, television sets, digital devices, music systems, heaters, refrigerators, fitness equipment, and many other essential home appliances. Since banks cannot pay for most durable goods together, taking out a loan that pays to buy these products is a good solution. These loans have different categories that a consumer can avail of for purchasing durable goods. Here we take a look at Pubali Bank’s consumer durable loan scheme:

Key Features of the Pubali Bank House Hold Durable Loan

• To purchase consumer durables for personal/family use.
• Loan Amount: 30% of the value of a product but up to a maximum of BDT 3.00 lac.
• Loan Tenure: Flexible repayment from 24 to maximum of 36 months.
• The current rate of interest is 9.00%.
• Loan Processing Fee: 0.50% of the total loan amount.
• Charges: No hidden charges.
• Required documents: Easy documentation and fast processing.
• Advance Loan Settlement: Early and Partial Settlement Options.

Loan Security of the Pubali Bank House Hold Durable Loan

• Hypothecation on purchased assets.
• Personal guarantee(s) where required.
• Authorization to debit the deposit account for the consumer.
• Required a number of signed cheques by the buyer along with a check deposit memo fully prepared postdate and valid Cheque.

Eligibility of the Pubali Bank House Hold Durable Loan

• Any legitimate Bangladeshi person who has the means and ability to repay the loan. These loans are financed under certain terms and conditions, such as employees of multinational companies and salaried executives of medium to large local corporates, government officials, and officials working in reputed NGOs (non-governmental organizations).
• An employee has a minimum net income of BDT 3,000/- per month and monthly installments including installments of other loans (if any) can be at least 2 (two) times.
• Age: The age of the borrower should be a minimum of 21 years and a maximum of 65 years at the time of loan maturity.

Required documents for Pubali Bank House Hold Durable Loan

• Copy of national identity card of applicant and guarantor.
• 2 copies of recently printed passport photographs.
• At least six months bank statements of the salary account of the borrower.
• Quote to purchase the product.
• For salaried persons, a salary certificate from the competent authority of employment.
• Copy of Trader/Self-Employed Person, Trade License, and other related documents.
• The Bank may request any other relevant documents as required by the Bank.

Frequently Asked Questions (FAQs) about Pubali Bank House Hold Durable Loan

Q1: What is a Pubali Bank Household Durable Loan?
A1: It is a financing option provided by Pubali Bank to consumers for purchasing household products (e.g., fridges, washing machines, microwaves), digital devices (smartphones, cameras, laptops), and other items, with the convenience of easy EMI options.

Q2: What is the maximum loan amount offered by Pubali Bank?
A2: Pubali Bank offers consumer durable loans with a maximum limit of BDT 3.00 lac.

Q3: Who is eligible to apply for a consumer household durable loan?
A3: Salaried individuals and self-employed individuals in the age group of 21 to 65 years respectively can apply for the consumer household durable loan.

Q4: How is the EMI amount determined for consumers?
A4: The EMI amount is dependent on the loan amount and the specified tenure chosen by the consumer.