To meet business requirement of individual business enterprises (other than public limited company) against pledge of financial instruments i.e. FDR, ICB Unit Certificate, WEDB, NFCD, PSS Account, MIS & Share Certificates & any other Govt. security eligible for credit facilities.
Interest Rate
IFIC Bank FDR
2.00% above the FDR Rate but not less than 10.50% p.a. with quarterly rest or as revised from time to time.
Other Banks FDR
2.00% above the Other FDR Rate but not less than 10.50% p.a. with quarterly rest or as revised from time to time.
ICB Unit certificate, WEDB & and other Financial Instruments.
13.00% p.a. with quarterly rest or as revised from time to time.
NFCD
13.00% p.a. with quarterly rest or as revised from time to time.
Pension Saving Scheme
13.00% p.a. with quarterly rest or as revised from time to time.
MIS
13.00% p.a. with quarterly rest or as revised from time to time.
Share
13.00% p.a. with quarterly rest or as revised from time to time
Loan Processing Fees:
Tk. 500/-
Penal Interest:
Additional 2.00% p.a on the over due amount
Required Documents:
Trade License
CIB report of the borrower
Memorandum and Articles of Association along with certificate of incorporation and resolution from Board of Directors of the company.
Deed of Partnership along with letter of partnership on Bank’s prescribed format (for partnership firm).
SME Banking
The growth of Small and Medium Enterprises (SMEs) in terms of size and number has multiple effect on the national economy, specifically on employment, GDP growth, and poverty alleviation in Bangladesh. IFIC Bank is also a partner of SME sector development of the country.
