MBL Education Loan

Mercantile Bank Limited's 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. This special study loan will provide maximum BDT 20,00,000, tenure of maximum six years with a competitive interest rate.

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

Loan Amount

• 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.
• Maximum 6 years.
• 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.

For detail, please contact any branch of Mercantile Bank near you during working hours.

Mercantile Bank Ltd may change, add or remove any conditions any time without notification.

About Mercantile Bank PLC

Mercantile Bank PLC offers a wide range of banking services in Bangladesh, catering to both individual and corporate clients. These services include savings and current accounts, fixed deposits, personal loans, home loans, and business loans. The bank also provides trade finance services, such as letters of credit, export/import financing, and remittance services, to support international transactions. Additionally, Mercantile Bank is known for its digital banking solutions, including mobile banking, internet banking, and ATM facilities, ensuring convenience for its customers. With a focus on customer service, it also offers SME financing and various other financial products to meet the diverse needs of its clients.