Mercantile Bank Limited Education Loan for Bangladeshi Student's

- Mercantile Bank Limited Education Loan for Bangladeshi Student's
- Mercantile Bank Limited Education Loan for Bangladeshi Student's

Education Loan
Mercantile Bank Limited 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 abroad or within the country.
Eligibility
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sApplicant must be enrolled as a student in Public/Private University in case of pursuing higher studies in home for undergraduate and post-graduate program.
Age Limit
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sAge of the Applicant should be in between 18 to 30 years at the time of disbursement of loan)
Qualification
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sHolds 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.
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sHolds 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.
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sEducational program must commensurate with the career prospect of the borrower.
Loan Limit
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sFor Studies in Bangladesh: Maximum Tk. 5.00 Lac
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sFor Studies Abroad: Maximum Tk. 20.00 Lac
Expenses considered for Loan
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sFees payable to University/College/Hostel
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sExamination/Library/Laboratory Fee
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sPurchase of Books/Equipments/Instruments/Uniforms
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sTravel Expenses/Passage money for studies abroad
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sPurchase of Computers – essentials for completion of the course
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sBoarding and lodging expenses in recognized Boarding Houses/private accommodations
- Mercantile Bank Limited Education Loan for Bangladeshi Student'sAny other expense required to complete the course – like study tours, project work, thesis, etc.
Moratorium period of the loan will be depending on the duration of the courses ranging from 02(two) years to maximum 04(four) years.
Loan to be repaid within a maximum period of 7 (seven) years from the date of the first disbursement.
Payment will be made directly to the educational institutions and reimbursement to the borrower against proper receipt.
The loan repayment installments will be fixed monthly basis.
The interest rate will be applied on floating basis.
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Source :Mercantile Bank Limited | On-line 

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