Midland e-Loan

Smart, Simple & Digital

Midland e-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 Midland e-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: up to 12 (twelve) months EMI-based repayment No Early Settlement Fee No CIB Inquiry Charge
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		Maximum tenure up to 12 (twelve) 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)
Penal interest rate		Penal interest of 0.5% 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 Midland e-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.