Uttara Bank PLC Marriage Loan
In life, each person harbors dreams of establishing a prosperous future and a joyous marriage. Marriage, a cornerstone of our social and religious traditions, unites adult individuals in a sacred union. Everyone endeavors to commence this new chapter with the blessings of family and friends during the wedding ceremony. However, it’s evident that not everyone enjoys an equal financial footing, leading some to seek assistance from banks and financial institutions. To bridge the gap between aspirations and means, many turn to marriage loans, such as the Uttara Bank PLC Marriage Loan, a financial product offered by banks to support those eager to embark on the journey of creating a new family by covering their wedding expenses.
What is Marriage Loan?
Uttara Bank offer loan campaigns in packages like wedding loans and wedding loans for those customers who want to get married and do not have sufficient financial means. But in this case, every married person and every person who wants to get married will be sanctioned a loan. If you urgently need approved loans in such cases, then you need to know more about marriage loans. As a private bank, Uttara Bank has arranged marriage loans, which are discussed in detail. If someone wants to apply for this marriage loan then they must check the basic terms of the loan.
Any Bangladeshi citizen who has the means and ability to repay the loan can apply for this loan under certain conditions. Such as reputed NGOs (Non-Governmental Organizations) may be salaried employees/executives of multinationals and medium to large-sized local corporates, government, and semi-autonomous organizations. UN agencies, International aid agencies, and other employees will be eligible to the bank.
Purpose of the Uttara Bank PLC Marriage Loan
- A marriage loan is given to meet the financial need for a marriage of self or his dependent son/daughter.
Key Features of the Marriage Loan
| Key Features | Details |
|---|---|
| Loan Amount | Minimum BDT 25,000, Maximum BDT 3,00,000 |
| Loan to Value Ratio | 30% of the cost of the item is allowed |
| Loan Tenure | Up to 36 months |
| Interest Rate | 15.00% per annum with quarterly rest |
| Repayment Method | Equal Monthly Installment (EMI) |
| Disbursement Mode | Approved loan amount disbursement to customer’s savings/Current account in the bank |
| Loan Processing Fee | 2% on the loan amount, minimum BDT 1,000 |
Eligibility of the Marriage Loan
- Age limit: Minimum age 25 years, Maximum age at loan maturity up to 40 years for self and 60 years for dependent (Son/Daughter)
- Minimum Service/length: For permanent and confirmed salaried persons, a minimum of three (3) years’ experience with 1-year employment in present organization.
- Minimum Yearly income (Net BDT): At least three times the total yearly installments amount of the applied loan
- Borrower must reside for at least 6 months in the same address.
Marriage Loan Security/ Collaterals Requirement
- Two Personal Guarantees with the net worth declaration
- Personal Guarantee of spouse/parents or any other family members acceptable to the bank
- Post-dated Cheque for all installments
- One undated Cheque covering the total amount of all installments.
Documents Requirement for Marriage Loan
- Passport size recent photographs of applicant(s) and guarantor (s).
- Photocopy of National ID/Passport of applicant (s) and guarantor (s)
- Latest Utility Bill (Gas/Water/Electricity)
- Details of expenditures with supporting papers
- Business Card/Office ID of the applicant (s) and guarantor (s), if any
- Latest E-TIN/ Income Tax Certificate
- Personal Net Worth statements of the applicant (s) and guarantor (s)
- Bank Statement for the last 6 months
- Rent or Lease agreement of house/property (if applicable)
FAQs on Uttara Bank Marriage Loan
Q: How do I apply for a Uttara Bank Marriage Loan?
A: You can apply for a Uttara Bank personal loan by visiting the bank’s official website, the nearest branch, or through the online application.
Q: What is the maximum loan amount?
A: The maximum loan amount for a Uttara Bank Marriage Loan is BDT 3 lac.
Q: What is the maximum loan tenure?
A: The maximum loan tenure for a Uttara Bank Marriage Loan is 36 months.
Q: What is the minimum age to get a marriage loan?
A: The minimum age to be eligible for a marriage loan is 25 years.
Q: What is the maximum age to get a marriage loan?
A: The maximum age to be eligible for a marriage loan is 40 years.
Q: What is the interest rate of a Marriage Loan?
A: The interest rate for a Marriage Loan offered by Uttara Bank is 15.00%.