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Deposit

To endure the higher education expenses of your children, MTB EDU Finance is another specially designed loan product under the umbrella of MTB Student Banking with a competitive interest rate.

Features:

  • MTB EDU Finance is a secured/unsecured terminating loan (EMI based) and Over Draft (revolving) facilities to
    enable the intending loanees to bear the educational expenses of their sons/ daughters/ relatives or for self- education. This comprises three windows:

    • MTB EDU Finance – Unsecured (as term loan)
    • MTB EDU Finance – Secured (as term loan)
    • MTB EDU Finance– OD (FO) Revolving Loan
  • No hidden charges
  • Competitive interest rate
  • Easy documentation and quick processing
  • Option for early settlement

Eligibility:

  • Age Minimum 22 and maximum 65 years or retirement date whichever is earlier at the loan maturity
  • Experience:
    • Salaried person : 1 year with 6 months permanent employment status
    • Self employed : 1 year of practice in the profession
    • Businessperson : 2 years of involvement in the same nature of business
  • Minimum monthly income:
    • Minimum BDT 25,000 for Government staff
    • Minimum BDT 40,000 for salaried person/Self-employed/Businessperson/Land lord/Land lady/other income individuals

Loan amount

  • For MTB EDU Loan – Unsecured:
  • Minimum TK. 1,00,000/-.
  • Maximum TK. 20,00,000/-

For MTB EDU Loan – Secured Financing (Term Loan & Overdraft)

  • Against FDR (Preferably of MTB): 90% of face value
  • Against Monthly Benefit Plan (only with MTB): Maximum 80% of the face value
  • Against other deposit products (only with MTB): Maximum 90% of the deposit amount

Repayment Tenor

  • For EDU Finance Term Loan (Secured/ Unsecured)
  • 12 to 60 months

EDU Finance – Overdraft (Revolving)

  • 1 (one) year (Renewal)

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