MTB EDU Finance

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)