Mercantile Bank Interest Rates
| Interest Rates |
| Savings Deposit Rate |
| Savings2.50% (For General) (For any amount) |
| Fixed Deposit Rate |
| PeriodFor any Amount01 Month3.00% (For any Amount)3 Months6.00% (For any Amount)6 Months6.50% (below Taka Ten Crore)6.75% (Taka Ten Crore and above)1 Year7.00% (For any Amount) |
| Special Notice Deposit (SND) Account Rates |
| BDT 1 Lac to Less than BDT 1 Cr.BDT 1 Cr. to less than BDT 25 Cr.BDT 25 Cr. to less than BDT 50 Cr.BDT 50 Cr. to less than BDT 100 Cr.BDT 100 Cr. and above2.50%3.00%3.50%5.00%6.00% |
| Interest Rate of Loans & Advances |
| * Interest Rate of all manufacturing Corporate and SME Loans to be reduced to 9.00% p.a. with effect from 1st July, 2018 (As per Instruction Circular no.1970/2018) |
| Sectors of BusinessPresent Interest Rate (Mid Rate)Agricultural Loans:Term Loan (Both Short Term & Long Term)As per Bangladesh Bank’s directives *Revolving CreditAs per Bangladesh Bank’s directives *Term Loan:Industrial / Manufacturing Project12.00%Other Term Loans12.00% Working Capital Financing:Industrial / Manufacturing Project12.00%Work Order / Supply Order13.00%Export Loan (PC)7.00%****Export Loan (ECC)7.00%****Trade Financing/Business Loans12.00%Import financing of rice, wheat, edible oil (refined and crude), pulse, peas, onion, dates and sugar12.00% Short Term Loan (STL)- (For maximum 06 months)Negotiable ***Financing to Small & Medium EnterpriseWith BB refinancingAs per Bangladesh Bank’s directives **Without BB refinancing13.00% Loans to NBFIs12.00% Lease Finance/Hire Purchase12.50% HouseBuildingLoan(HBL)Residential12.50%Commercial13.00%SOD/Loans against FDR of our BankFDR Rate + 3.00%*SOD/Loans against Scheme Deposits of our BankScheme Deposit Rate + 4.00%*SOD/Loans against FDR/ Scheme Deposits etc. of other Bank, ICB Unit Certificate & FC Bond12.00%SOD/Loans against Shares/Debenture12.00% Special Credit SchemesLoans under schemes Doctors’ Credit SchemeInterest Rate18.50%Loan Processing Fee1% Personal Loan SchemeInterest Rate13.50%Loan Processing FeeUp to l%o on loan amount Nil Car Loan SchemeInterest Rate13.00%Loan Processing FeeUp to 1olo on loan amount Home Loan SchemeInterest Rate1l.50%Loan Processing FeeUp to lolo on loan amount House Furnishing Loan (Consumer Loan Scheme)Interest Rate14.50%Loan Processing FeeUp to l%o on loan amount Nil Cottage LoanInterest Rate12.50%Loan Processing FeeUp to 1olo on loan amount Education LoanInterest Rate During Moratorium Period10.00%*Interest Rate After Moratorium Period14.50% Overseas Employment Loan Scheme14.00% Rural Development Scheme14.00% Financing Solar Energy & Bio-Gas project under BB refinanceDirect lending to ultimate beneficiaryAs per Bangladesh Bank’s directives**Lending through NGO linkage Financing Effluent Treatment Plant (ETP)Financing to Jute Sector under Refinance Scheme of Bangladesh BankFinancing to RMG Sector Safe Working Environment program of JICA assistance “FSPDSME” Project (Pre Finance)Financing for Renewable Energy & Environment Friendly sector under Refinance Scheme of Bangladesh BankFinancing against Scheme of Rifinance for setting up Agro based Product Processing Industries in Rutal Areas under Refinance Scheme of Bangladesh Bank.Credit Card25.00Yo*Loan under Employees House Building SchemeAs per approval of the Board of Directors of the Bank from time to time.Loan under Car Loan Policy for the Executives of the BankAs per approval of the Board of Directors of the Bank from time to time. Factoring12.50% SOD (EMFS) under e tendering14.50% *Other Loans & Advances13.00% |
| * Fixed Rate |
| ** Subject to receiving of refinance fiom Bangladesh Bank. otherwise, interest rate (mid rate) will be 13.00%p.a./prevailing rate for the existing loan. In case of overdue, the rate of interest will be be 2% above on the lending rates. Loan under refinance scheme of Bangladesh Bank shall be guided by Bangladesh Bank Circulars/Instructions’ |
| *** For Head Office exercise onlY. |
| **** Fixed Rate. But in case of overdue, the rate of interest will be 2% higher than the prescribed rate. |