MDB Secured Overdraft

MDB Secured Overdraft offers a flexible, fast and hassle-free solution to your quick cash requirements.

Title Details
Features
  • Credit facility amount ranges from BDT 50,000 to maximum 90% of Midland Bank Fixed Deposits, all other of MDB Savings Scheme Deposit, 75% of Wage Earner Development Bonds (issued from MDB only) (for Non Resident Bangladeshis) and 75% of US Dollar Bond (issued from MDB only) (for Non Resident Bangladeshis)
  • Revolving credit facility
  • 100% cash secured loan
  • Competitive interest rate
  • Interest charged only for the amount you have drawn
  • Option of auto renewal / increase limit/ decrease limit at your request
  • No hidden charges
  • Quick loan processing
Eligibility
  • Any Bangladeshi or Non-Resident Bangladeshi (NRB) with minimum age of 18 years having Midland Bank Fixed Deposits, Midland Bank Savings Scheme or other securities like Wage Earner Development Bonds (issued from MDB only) US Dollar Bond (issued from MDB only) etc.
Tenure
  • Revolving credit facility
Purpose
  • Finance against Fixed Deposits/ Other Cash Securities
Benefit
  • Option of renewal / increase limit/ decrease limit at your request
Taxes, Duty, Surcharges
  • As per NBR circular
Highest Amount
  • Bank will finance from BDT 50,000 to maximum 90% of Fixed Deposits/ Other Cash Securities
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