Pubali Government Primary School Teachers Loan Scheme

To be a helping hand for purchasing Consumer durables for personal / family use. Items like: Television, Refrigerator, Air Conditioner, Hi-Fi, Washing Machine, Computers, other household furniture etc. Pubali Bank Limited has introduced Government Primary School Teachers Loan Scheme in 2006.

Any Government Primary School Teachers can apply for this loan who have their salary account with Pubali Bank Limited as well as get paid their salary through Pubali Bank Limited. Here, I’m trying to discuss about the details of Pubali Bank Limited Government Primary School Teachers Loan Scheme.

Features and Benefits of Pubali Government Primary School Teachers Loan Scheme:

1. Loan Size: Max. Tk. 4 Lac
2. Repayment Method: EMI, Loan Tenor: 36-60 months.
3. Installment size up to 50% of net income
4. Easy and Fast Processing
5. No collateral or cash securities
6. Financing 80% of the cost of the item is allowed.
7. Loan tenor: 24-36 Months.
8. Option for early & partial settlement.

Read Also: How to get education loan in Bangladesh for studying abroad?

Eligibility & Requirements

1. Only local Government Primary School Teachers have a salary account with Pubali Bank Ltd.
2. Age should be maximum of 59 years at the maturity of the loan. (Age may increase 01 years for Head Master, Senior Teacher and who are 01 year PRL)
3. Copy of National ID of Applicant/ Guarantor.
4. 2 Copies of recent lab printed passport size photograph.
5. Service and Salary certificate from Upazila Education Officer and Head Master of the School.
6. Last Tax Return
7. Bank Statements for minimum last 6 months
8. Any other document that may stand as a proof of income
9. Disbursement will be made through Demand Draft/ Payment Order directly to the seller.
10. Quotation of the item to be purchased (Verification of Personal Details and Quotation)
11. Details of an applicant are to be verified by a third party before approval is accorded.

Security/ Collateral

1. Hypothecation over purchased assets.
2. Post-dated cheques for each monthly installment.
3. One undated cheque for full loan value including full interest to be taken in advance.
4. Personal Guarantee of spouse/parents and an individual having minimum solvency/income not less than that of the borrower supported by income proof.
5. Processing fee+applicable vat may charge. (For processing fees and other charges you may check bank’s schedule of charges.)

Interest Rate, Fees & Charges:

1. Present rate of interest is 8%. (Subject to change as per Ban k’s Discretion.)
2. The application form fee is presently 230/-(Fee+Vat).
3. Charge document fee as bank prescribed.
4. Penal interest shall be charged @ 2% over the normal rate on the defaulted installments.

For further details can contact at: Tel: (PABX) 02223381614 FAX: 880-2-9564009 or e-mail at [email protected]