Mercantile Bank Education Loan pack you can chose for your child study expenses purpose. They are offer students loan with good facility. Then bank authority invite to apply education loan for Bangladeshi citizen. Education loan you can expense only study purpose on your child or other relatives. If you want to know details information about this tropic then read below article.
Mercantile Bank Education Loan
If you want to take a loan to do a graduation course in the country, they will give you a loan.
For postgraduate course, you need to be admitted to a university outside the country and apply for a loan. You can also read Uttara Bank Education Loan Criteria.
Mercantile Bank offers education loans ranging from a minimum of BDT 5,00,00 to a maximum of BDT 20,00,000.
- To pursue higher studies for general or technical undergraduate courses in home.
- Post-graduate courses in home and abroad.
MBL Education Loan Details Information
The bank set two types of criteria. One for home education and another is foreign education. The loan amount also different for those types. We are including here details information about the Mercantile Bank Education loan. You can also read NCC Bank Study Loan.
- This bank allows maximum 5,000,00 BDT for studies in Bangladesh.
- Maximum 2000000 BDT for studies in abroad.
Loan Repayment Duration (Tenure):
- Minimum 1 years.
- Maximum 6 years.
- They are also 3 month moratorium depending on the nature of courses.
Age Limit of Applicant:
Minimum age 18 and maximum 26 for the students.
Interest Rate: Competitive.
The authority not explain interest rate directly. They are declaring that interest rate is competitive. So, you need to confirm it from the authority. For this reason, please visit there any branch and talk to concern person.
Customer portion for MBL Education Loan
The authority set some terms and condition for the applicant and loan barrier. It is very important to know terms and conditions. So, we suggest you please read their terms carefully.
- If you are Bangladeshi Citizen student then you can apply.
- Holds excellent result in SSC/HSC/O-level/A-level or equivalent level.
- Pursuing post-graduate courses in home or abroad as well.
- Father/mother/guardian will become joint applicant(s) with the student.
- Application form of Education Loan will be signed by the parent/guardian along with the student.
Expenses Considered for Loan
The loan amount you are not expense any purpose. They are set some purpose for expenses your loan amount. So, you need to follow their criteria for spent loan amount. Basically they are set criteria for education related purpose only. So, your loan amount must be spent only for education purpose. For more information please visit their official website.
- You can expense your loan in University/College/Hostel fees.
- Purchasing of books/ equipment’s/ instruments/ uniforms.
- Travel expenses/ passages money for studies abroad.
- Purchase of computers ( if it needed for course).
- Boarding and lodging expenses.
Mercantile Bank Education Loan Required Documents
Some documents you need to submit for getting loan. If you want to get loan in a sort time please collect those document. When your document will be ready properly then submit. The authority not allow any false document. So, please don’t try it.
You need to submit valid and exact documents.
- Applicant Bio-Data with guardian.
- Guardian net-worth documents.
- Applicant and Guardian salary certificate if any.
- Selected educational institutional profile.
- Copies of financial requirements to pursue the course that issue by the competent authority of the concerned educational institution
- If the applicant employee then you need to submit NOC of the employer to pursue the study.
- Copy of valid Bangladeshi passport of the applicant in case of studies in abroad.
- Open student file with Mercantile Bank Limited.
Here we are try to discuss about Education Loan in Bangladesh and its benefit. You can also try other’s bank for more facility. You can also read EBL Education loan eligibility and criteria.
The candidates also read below article.