Mercantile Bank Home Loans

Mercantile Bank Home Loans

Home Loan
Residing at own home/flat is a long cherished dream to everyone. To materialize this dream, Mercantile Bank Ltd is beside you offering easy to avail competitive Home Loan with lucrative features.
Our Strength
We ensure smooth and prompt disposal of the loan for your dream house to turn into reality.We offer most competitive interest rate with easy to access terms and conditions.
Purpose
Purchasing apartment(s)Constructing new House(s)Renovation of existing Building or Apartment(s)Taking over of House Building Loans from other Banks / Non-Bank Financial Institutions.
Eligibility
Any Bangladeshi resident/Non-resident Bangladeshi (singly or jointly with spouse/son/daughter)
Loan Limit
120.00 lac
Tenure
25 years for construction of building & 20 years for purchasing of flat with maximum 3 to 12 months grace period in both the cases.For taking over loan, remaining loan period with existing financer or 10 years whichever is lower will be applicable.
Age Limit
Minimum 21 Years. Maximum 65 years at the time of loan maturity for service holders & 70 for others
Minimum Land Area
1.75 katha/2.89 decimal
Interest Rate
Competitive Interest Rate.
Loan-Equity Ratio
60:40 for construction & renovation purpose70:30 for purchasing of apartment
Customer Segment
Salaried Person 
Employees of Govt./Autonomous Bodies/Banking or Non-banking Financial Institution/ Public Limited Company/Private Limited Company having Corporate Structure/Multinational Company/ Teachers of any school/ college/UniversityProfessional/Self-employed 
Doctors/Engineer/Accountant/IT Professional/Management Consultant/LandlordBusinessman 
Businessman having at least 3 years of length of business
Required Documents
Employer’s Certificate (stipulating monthly remuneration) for service holder.National IDTAX return receiptPNS (Personal Net-worth Statement)Bank Account Statement for last 12 monthsTrade license (for businessman)Photocopy of Passport, Telephone (T&T) bill if anyIncome supported by documentsApproval from RAJUK/competent authorityProperty documents