| Customer Segments |
- Any individual who is using “Midland Online” having Digital FDR/ Digital Family Support/ Double Benefit Plus/ Digital Double Benefit Plus/Saalam Digital Term Deposit/Saalam Digital Family Support/ Saalam Double Benefit Plus/ Saalam Digital Double Benefit Plus or any other scheme deposit (both digital and non-digital way except double benefit scheme having printed receipt) with Midland Bank Limited.
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| Co-Borrower / Joint Borrower |
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| Age criteria |
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| Purpose |
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| Loan amount |
- Minimum Amount: BDT 10,000/- (Ten Thousand Taka) Only.
- Maximum Amount: BDT 10,00,000/- (Ten lac) Only.
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| Loan Nature |
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| Tenure |
- 3/6/9/12/18/24/30/36/48/60 months.
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| Loan to value (LTV) ratio |
- 90% of the value (including capitalized interest/profit) of Midland Bank Digital FDR/ Saalam Digital Term Deposit.
- 90% of customer deposited amount against any scheme deposit both digital and non-digital way except double benefit scheme having printed receipt.
- 80% of customer deposited amount against Digital Family Support / Digital Saalam Family Support
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| Mode of disbursement |
- By crediting to customer's Savings/Current account, as chosen by the customer while applying the loan, maintained with Midland Bank Ltd.
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| Interest rate |
- FDR/Scheme deposit rate + 3% p.a. In case of any change in interest rate of deposit instrument, lending interest rate of the facility will also be changed.
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| Penal interest rate |
- 2.00% higher rate will be applicable on overdue amount over the prescribed rate.
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| Processing fees |
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| First payment date |
- 1st EMI date will be on 05/ 10/ 15 /20 /25. No grace period / moratorium period will be allowed.
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| Partial settlement |
- If customer wants to partially adjust loan amount, then he/she needs visit to nearest branch/sub-branch and apply for partial settlement. There will be no fee for partial settlement. However, customer must adjust 20% of the outstanding amount.
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| Early settlement fees |
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| Loan processing time |
- Loan request received before 12:00 noon will be processed in the same day, else it will be processed in next working day subject to availability of CIB report from Bangladesh Bank.
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| Loan Closing |
- To close or early settle the loan account, customer needs to apply through Midland Online or visit nearest branch/sub-branch of the bank.
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| TIN/Proof of Submission of Tax Return |
- Customer must provide proof of submission of tax return for loan amount of above BDT 5.00 lac. If the submission of tax return can’t be verified from NBR website then loan application will not be processed by the bank.
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