Money and investment

Loan application fee is not more than 200 $  

The application fee for all types of loans can not exceed 200$, no financial institution. On Tuesday (April 3rd) the financial institution and market department of Bangladesh Bank issued a directive regarding this.

According to this directive to the Chief Executive of all financial institutions operating in Bangladesh, it has been said that in the case of all financial institutions, loans or lease accounts of the country will be given a uniform amount of fees and fees for charging the commission or commission and the loan application fee of 200$ for the protection of customer interest. Likewise, the documentation fees, CIB charges, stamp charges, legal and security assessment fees will be determined on the basis of actual expenditure. Fees or penalties or profit due to delay in payment of the loan installment will not be more than two percent (profit rate + 2%) with interest or profit rate applicable for the relevant loan.

It has been mentioned in the directive that before the expiry of the loan, the maximum amount of the payment fees will be two percent of the outstanding loan. However, such fees can not be collected for co-ordination before the term loan expired in the cottage and micro-sector.

It has also been said that no charge can be taken from the customer for certification of guaranteed status of loan account for half yearly basis. But twice a year, according to the customer's demand, the maximum charge of 200$ can be charged per bar. According to the guidelines of the Bangladesh Bank, in no way can the hearing fee or charge or commissions be received from the customer.