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The Deposit Loan Scheme: |
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Grameen Fund started this scheme during 2005. By providing loan facility, this scheme enables the clients to utilize their deposit for urgent situations without liquidating the deposit before maturity. |
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| Eligibility: | |||||||||||||||||||||||||||||||||
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Non-member of Grameen Bank. | ||||||||||||||||||||||||||||||||
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Having term deposit (FDR) at Grameen Bank branches. | ||||||||||||||||||||||||||||||||
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Deposit receipt is pledged in favour of Grameen Fund as security. | ||||||||||||||||||||||||||||||||
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The deposit holder should be a landowner. | ||||||||||||||||||||||||||||||||
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Those who have successful track record of previous loan repayment will get priority. | ||||||||||||||||||||||||||||||||
| Loan Amount: | |||||||||||||||||||||||||||||||||
| Maximum loan amount would be 80% of the total of the deposit plus interest earned. Interest rate for the loan is 20% calculated on declining balance. | |||||||||||||||||||||||||||||||||
| Duration and repayment: | |||||||||||||||||||||||||||||||||
| Loan financing is provided to the deposit holders under two categories: | |||||||||||||||||||||||||||||||||
| a. | One time repayment | ||||||||||||||||||||||||||||||||
| b | Installment basis repayment. | ||||||||||||||||||||||||||||||||
The one time repayment scheme is generally for duration of one year and can be renewed after interest payment at the end of the year. The loan may be repaid partially or on full within the year/at year-end. |
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In case of installment system, the loan may be repaid in highest 24 monthly installments in accordance with the repayment schedule provided by Grameen Fund. The client has the option to choose one time repayment or repayment by installments. Grameen Fund observes that majority of the client prefers installment basis repayment structure. |
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| Loan processing: | |||||||||||||||||||||||||||||||||
| The term deposit holder can get the loan from the Grameen Bank branch; he or she does not require coming to Dhaka or to Grameen Fund office. The prospective customer needs to open a current/savings account and fill up the necessary application form (from the loan booklet) along with the lien document and promissory note. All these documents should be forwarded to Grameen Fund. After approval, the amount is credited to the account of the client in the branch. The whole process is completed within a maximum period of 20 days. When the booths would be established and operational, Grameen Fund intends to complete the process within a maximum period of 10 days. |
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| Usage: | |||||||||||||||||||||||||||||||||
| The loan can be utilized for business or family purpose. | |||||||||||||||||||||||||||||||||
| Year wise growth of deposit loan scheme: | |||||||||||||||||||||||||||||||||
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