MDB Digital Nano Loan

Smart, Simple & Digital

MDB Digital Nano Loan will empower customers to apply for and receive loan disbursements through midland online (Mobile App), ensuring a seamless and efficient digital experience.

This strategic initiative is designed to broaden financial accessibility, particularly for the unbanked and underserved segments of society, thereby reinforcing Midland Bank PLC’s commitment to advancing financial inclusion across the country.

Through the introduction of the MDB Digital Nano Loan, micro-entrepreneurs, marginalized communities, students, and individuals among Midland Bank’s account holders will be better equipped to address urgent personal or business financial needs with convenience and confidence.

Title Details
Key Features
  • Fully Digital Process – Apply, approve and disburse through midland online
  • No Paperwork Required
  • Instant Credit Decision based on digital scoring
  • Loan Amount up to BDT 50,000 (within Bangladesh Bank ceiling)
  • Loan Tenure: 3 months or 6 months
  • EMI-based repayment
  • No Early Settlement Fee
Customer Segments
  • Existing Current and Savings Accounts (CASA) account holders of Midland Bank PLC.
Co-Borrower / Joint Borrower
  • Not Allowed.
Age criteria
  • Minimum Age: 18 years.
Purpose
  • Any legitimate purpose.
Loan amount
  • Minimum Amount: BDT 1000/- (One Thousand Taka) Only.
  • Maximum Amount: BDT 50,000/- (Fifty Thousand Taka) Only.
Tenure
  • 3 months or 6 months
Mode of disbursement
  • The approved loan amount is credited directly to the customer’s Savings or Current account maintained with Midland Bank PLC.
Repayment Method
  • Equal Monthly Installments (EMI)
Interest rate
  • The interest rate is 16.5% per annum which is subject to change depending on market conditions.
Penal interest rate
  • Penal interest of 1.5% per annum on overdue amount to be charged or as per Bangladesh Bank guideline.
Processing fees
  • 0.50% of the loan amount (or as per Bangladesh Bank guideline) is applicable
Early settlement fees
  • No Early Settlement Fee.
Loan processing time
  • Application will be processed within 72 working hours.
Loan Closing
  • To close or early settle the loan, Customer can adjust MDB Digital Nano Loan through Midland Online app.
  • Loan will be adjusted automatically after expiry of the loan if EMI paid regularly.
CIB Report
  • CIB report is required as per Bangladesh Bank regulation.
Excise Duty /VAT
  • As per NBR/Government rules.
FAQ