Mercantile Bank Double Scheme

Mercantile Bank Double Scheme

Below is the information on the Mercantile Bank Double Scheme.

Double Benefit Deposit Scheme (DBDS)

Objectives

Give maximum benefit.Help in meeting specific needs like education, marriage etc.Deposit becomes double in 8 years

Mode

Tenure of the deposit is 8 years.

Rates

TenureEffective Interest Rate8 years9.06%

Other Features

The Minimum amount of deposit is BDT 10,000.00(Ten Thousand) or its multiples.All taxes/duty/levy and /or any other surcharges presently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme.In case of premature encashment interest will be paid on Saving A/C Rate.Loan may be granted up to maximum 80% of the deposited amount but minimum principle amount must be BDT 20,000.00.Loan processing fee be realized BDT 50.00 only and usual stamp costs also be realized.