The bank has been providing different services to the people of various walks of life to facilitate their different purposes. The bank is now providing Salary Management services to various corporate entities, Government and non-government institutions. In the course of serving the employees of the entities; we have identified the opportunity of cross selling our lending products to them.
The Privilege Loan is available to the employees of the Entities where the bank has Salary Management Agreement. The loan can be sanctioned to finance land purchase, building construction / renovation, home finishing / furnishing, vehicle purchase (private), children education, meeting social / family obligations, vacation tour, medical treatment of the family member, etc.
This product is divided in two categories:
Category 1: Personal Overdraft, which can be renewed annually upon satisfactory performances. Overdraft can be available for all purposes (except clearly stated speculative transactions).
Category 2: Personal Term Loan, which can be repaid in agreed installments and terminating in the agreed period (expiry date). The processing fee is 0.50% and the interest rate is 9.50% to 12.50% p.a. for both overdraft and term loan. Asset valuation fee is nominal to the borrower.