Loan Schemes At City Bank Ltd. Bangladesh Essay

2643 WordsMay 5, 201211 Pages
City Bank is one of the top commercial banks of our country. It started its operation in 1983. Since its inception City Bank is serving in banking industry with great reputation. It has a total of TK. 330.77 crore as capital & reserve. The bank currently has 90 online branches and 10 SME service centers and 2 SME/Agri branch spread across the country that include a full fledged Islami Banking branch. It currently has 122 ATMs of its own; and ATM sharing arrangement with a partner bank that has more than 550 ATMs in place. Credit Schemes: City Bank provides different types of credits to commercial organizations and consumers. It has Islamic credit schemes too. Types of loan schemes, their interest rates, and eligibilities to get the loans and collaterals are described below: Consumer Loans Home loan: City Bank provides home loan which amounts BDT 3 Lac to maximum BDT 1 crore. The tenure of repayment is from 1 year to 25 years. About 80% of property value is given as loan. This loan is given against property. Interest rate for home loan is 16.5% Who can take home loan: Eligibilities for taking home loan includes Bangladeshi citizen within age limit of 22 years to 65 years and minimum income  BDT 30,000/month for salaried & self-employed personal  BDT 40,000/month for business person & other personal Documentations:  Two copies of building plan/layout plan approved by the competent authority along with approval letter.  Soil test report of the land on which the proposed building will be constructed.  (a)In case of multi storied building two copies of structural design of the proposed building is required along with a certificate issued by a graduate civil engineer/Executive Engineer/ Engineering consulting firm with at least 5 years of experience in this field. (b) In case of a building having 7 storied or over, a certificate is needed
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