Prime Bank – Household Durables Loan

By | June 6, 2011

Prime Bank was created and commencement of business started on 17th April 1995. The sponsors are reputed personalities in the field of trade and commerce and their stake ranges from shipping to textile and finance to energy etc.

As a fully licensed commercial bank, Prime Bank is being managed by a highly professional and dedicated team with long experience in banking. They constantly focus on understanding and anticipating customer needs. As the banking scenario undergoes changes so is the bank and it repositions itself in the changed market condition.

Purpose                      – To buy furniture/home appliances/household durables

Eligibility                     – At least 21 years of age;

Salaried people who are permanently Employed for at least 1 year by a well-reputed organization including at least 6 months with present employer; Self employed who are under Professional exercise for at least 3 years (with adequate proof) are eligible for the house hold durable loan.

The monthly income of the salaried must be minimum BDT10000 and self employed people must earn minimum BDT25000 per month

Quantum of Loan       – Loan amount maximum 5 lakhs

Duration                          – maximum 5 years

Interest Rates           – 11.25%

Security                      – Personal guarantee of the borrower;   one personal guarantee acceptable to Prime Bank; Post-dated cheque similar to other personal loan

Others                         – Competitive interest rates on a monthly/quarterly reducing balance; convenient partial or early settlement

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Articles Glossary Tags: , ,

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

Leave a Reply

Your email address will not be published. Required fields are marked *