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EBL launches travel loan PDF Print E-mail
Thursday, 13 March 2008

Staff Correspondent

The Eastern Bank Limited has launched travel loan scheme to cater the need of travel lovers.

The scheme is designed to provide a traveller with necessary funding of Tk 50,000 to Tk 5 lakh for trip abroad, said Ali Reza Iftekhar, managing director and chief executive officer of the bank, at a press conference on Tuesday.

The loan is available at secured and unsecured versions, he informed. Fixed deposit receipts would be pledged for secured loans and interest rate would three per cent higher than the FDR rate, he said.

For unsecured loans, 18 per cent interest rate would be charged and one per cent service charge or Tk 2,000 which one is higher.

A service-holder with monthly salary of Tk 15,000 and a businessman with Tk 20,000 monthly income can apply for such loans and have to repay in 12 to 60 instalments, he said.

The bank will soon launch home loan product, he said. Mamoon Mahmood Shah, head of consumer banking, and Nazeem A Choudhury, head of marketing, attended the programme.

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