MBL Education Loan

Mercantile Bank Limited's (MBL) education loan may be availed by any student of Bangladeshi National with excellent educational track record to provide financial assistance for further educational purposes like study in abroad or within the country.

Purpose
To pursue higher studies for undergraduate courses (general/ technical) in home and post-graduate courses in home and abroad.

Loan Limit
- Maximum BDT 5,00,000.00 for studies in Bangladeshi national.
- Maximum BDT 20,00,000.00 for studies in abroad.

Tenure
Minimum 1 year and maximum 6 years with 3 months moratorium depending on the nature of courses.

Age Limit
18 to 26 years.

Interest Rate
Competitive interest rate.

Customer Segment
Any student of Bangladeshi National
- Holds excellent result in SSC/ HSC/ O-level/ A-level or equivalent from any recognized educational institution at home or abroad for pursuing undergraduate course in home.
- Holds excellent result in SSC/ HSC/ O-level/ A-level or equivalent from any recognized educational institution at home or abroad for pursuing post-graduate courses in home or abroad as well.
- Father/ mother/ guardian will become joint applicant(s) with the student and application form of Education Loan will be signed by the parent/ guardian along with the student.

Expenses Considered for Loan
- Fees payable to University/ College/ Hostel.
- Purchase of books/ equipments/ instruments/ uniforms.
- Travel expenses/ passages money for studies abroad.
- Purchase of computers or essential for completion of the course.
- Boarding and lodging expenses in recognized boarding houses/ private accommodations.

Required Documents
- Bio-Data of the applicant with guardian.
- Personal net-worth of the guardian.
- Salary certificate from employer both the applicant and guardian if any.
- Copies of financial requirements to pursue the course duly issued by the competent authority of the concerned educational institution.
- Profile of the selected educational institution.
- NOC of the employer to pursue the study.
- Photocopy of valid Bangladeshi passport of the applicant in case of studies in abroad.
- Open student file with MBL.

About Mercantile Bank Limited

Mercantile Bank Limited emerged as a new commercial bank to provide efficient banking services and to contribute socio-economic development of the country. The Bank provides a broad range of financial services to its customers and corporate clients. The Board of Directors consists of eminent personalities from the realm of commerce and industries of the country. The bank likes to become most caring, focused for equitable growth based on diversified deployment of resources and nevertheless would remain healthy and gainfully profitable bank.

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