Mercantile Bank Home Loans
| Home Loan |
| Residing at own home/flat is a long cherished dream to everyone. To materialize this dream, Mercantile Bank Ltd is beside you offering easy to avail competitive Home Loan with lucrative features. |
| Our Strength |
| We ensure smooth and prompt disposal of the loan for your dream house to turn into reality.We offer most competitive interest rate with easy to access terms and conditions. |
| Purpose |
| Purchasing apartment(s)Constructing new House(s)Renovation of existing Building or Apartment(s)Taking over of House Building Loans from other Banks / Non-Bank Financial Institutions. |
| Eligibility |
| Any Bangladeshi resident/Non-resident Bangladeshi (singly or jointly with spouse/son/daughter) |
| Loan Limit |
| 120.00 lac |
| Tenure |
| 25 years for construction of building & 20 years for purchasing of flat with maximum 3 to 12 months grace period in both the cases.For taking over loan, remaining loan period with existing financer or 10 years whichever is lower will be applicable. |
| Age Limit |
| Minimum 21 Years. Maximum 65 years at the time of loan maturity for service holders & 70 for others |
| Minimum Land Area |
| 1.75 katha/2.89 decimal |
| Interest Rate |
| Competitive Interest Rate. |
| Loan-Equity Ratio |
| 60:40 for construction & renovation purpose70:30 for purchasing of apartment |
| Customer Segment |
| Salaried Person Employees of Govt./Autonomous Bodies/Banking or Non-banking Financial Institution/ Public Limited Company/Private Limited Company having Corporate Structure/Multinational Company/ Teachers of any school/ college/UniversityProfessional/Self-employed Doctors/Engineer/Accountant/IT Professional/Management Consultant/LandlordBusinessman Businessman having at least 3 years of length of business |
| Required Documents |
| Employer’s Certificate (stipulating monthly remuneration) for service holder.National IDTAX return receiptPNS (Personal Net-worth Statement)Bank Account Statement for last 12 monthsTrade license (for businessman)Photocopy of Passport, Telephone (T&T) bill if anyIncome supported by documentsApproval from RAJUK/competent authorityProperty documents |