PERSONAL LOAN


Personal Loan is a facility offered to individual salaried persons living in the cities / towns where REFL has its operations. It is a clean or unsecured loan in the sense that only security in this type of loan product is: a) Letter of Introduction from employer b) Transfer of monthly salary and assignment of Terminal Benefits c) Personal Guarantee taken from specific section of people.

 

CUSTOMER SEGMENT

This service is available to any Bangladeshi individual who has the means and capacity to repay loan. In specific terms, these could be salaried executives of multinational and middle to large size local corporate, Government officials, Officials working in reputed NGOs (Non Government Organizations), international aid agencies & UN bodies, having a reliable source of income.

 

ELIGIBILITY

  • Age limit: Minimum 25 years, Maximum 57 years at loan maturity.
  • Minimum income: Tk 25,000.00 per month.
  • Minimum service length: 2 years. At least 6 months with current employer.

 

EXPERIENCE

i) For Salaried Executives (other than Government)

Minimum 3 years of Total & uninterrupted Service Experience at reputed organizations and must be a permanent & confirmed employee at the time of application.

Minimum 1 year of Service Experience as a permanent employee with the same reputed organization & must be a Confirmed employee on the date of Loan Application.

ii) For Govt. Employees:

Minimum one year from the date of Joining.

iii) Businessperson:

Minimum 3 years of proven business experience in the same nature of business.

iv) Doctor, Engineer & Other Self Employed Professionals:

Minimum 3 years of proven experience in the same field of expertise.

 

PURPOSE

  • House Renovation
  • Purchase of Personal Computers / Electronics.
  • Travel expenses.
  • Marriage expenses.
  • Medical / Treatment.
  • CNG Conversion / Vehicle repair.
  • To meet any other emergency financial needs.

 

LOAN FEATURE

  • Loan amount minimum 50,000 to Maximum Tk.10,00,000.
  • Repayment tenure Maximum 4 years.
  • Payment method- Equal Monthly Installments.
  • Competitive interest rate.
  • No early settlement & partial adjustment fees.
  • No hidden cost.