Mercantile Bank Double Scheme

Mercantile Bank Double Scheme

Below is the information on the Mercantile Bank Double Scheme.

Double Benefit Deposit Scheme (DBDS)

Objectives

Give maximum benefit. Help in meeting specific needs like education, marriage, etc. Deposit becomes double in 8 years

Mode

Tenure of the deposit is 8 years.

Rates

TenureEffective Interest Rate 8 years9.06%

Other Features

The minimum amount of deposit is BDT 10,000.00(Ten Thousand) or its multiples. All taxes/duty/levy and /or any other surcharges presently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. In case of premature encashment, interest will be paid on Saving A/C Rate. The loan may be granted up to a maximum of 80% of the deposited amount but the minimum principal amount must be BDT 20,000.00. Loan processing fee is realized BDT 50.00 only and usual stamp costs also are realized.