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MBL Education Loan

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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 is one of the prominent private sector commercial banks in Bangladesh, established in 1999. It was founded with the goal of providing a range of banking services to meet the growing financial needs of the country’s rapidly developing economy. The bank was licensed by the Bangladesh Bank, the central bank of Bangladesh, and started its operations with a commitment to serve both individual and corporate clients with innovative financial solutions. Since its inception, Mercantile Bank has focused on creating a strong presence in the banking sector by offering modern banking services that cater to a wide array of customers, including retail, corporate, and small and medium enterprises (SMEs).

The history of Mercantile Bank is marked by its consistent growth and expansion. It began its journey with a modest number of branches, and over the years, it has increased its footprint across the country. Today, it operates a wide network of branches in major cities and towns, making banking services accessible to a large population. The bank’s growth has been driven by a strong foundation in customer service, professionalism, and an emphasis on adopting technological advancements in banking.

Mercantile Bank offers a comprehensive range of financial products and services. These include savings and current accounts, fixed deposits, and various types of loans, such as personal loans, home loans, and business loans. Additionally, the bank provides services related to trade finance, including letters of credit, export and import financing, and remittance services, which are essential for businesses involved in international trade. The bank is also known for its SME financing programs, which support the growth of small and medium-sized businesses in Bangladesh, a vital sector for the country’s economic development.

In terms of digital banking, Mercantile Bank has invested significantly in technology, allowing customers to enjoy a range of online banking services. These include mobile banking, internet banking, and ATM facilities, which enhance the convenience of banking for customers, particularly in an era where digital transactions have become more prominent. The bank has also introduced various customer-friendly services, such as SMS banking and a dedicated customer care center, ensuring seamless support for its clients.

Moreover, Mercantile Bank has made notable contributions to corporate social responsibility (CSR) by engaging in various community development programs. These initiatives focus on education, health, and environmental sustainability, reflecting the bank’s commitment to not only profit-making but also to the welfare of society. Through these efforts, the bank has built a reputation for being a responsible corporate entity.

In conclusion, Mercantile Bank PLC has become a key player in Bangladesh's banking industry over the last two decades. With its comprehensive range of services, commitment to technological innovation, and strong customer-centric approach, it continues to play an important role in shaping the future of banking in the country. Its continued growth and expansion reflect its adaptability and resilience in an ever-evolving financial landscape.