Midland Bank Ltd.

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bank summary

Midland Bank Ltd. (MDB) is a private commercial bank that aims to be the first choice of customers as a distinct financial service provider, trusted, respected, and valued by all stakeholders within the region and beyond, pursuing an endless voyage towards excellence in every respect. Midland Bank provides quality banking services such as Lockers, Term Loans for various purposes, and Consumer Finance.

interest rates

8.49%

eligibility criteria

- Minimum age 21 years and maximum age 65 years

- Minimum salary of BDT 40,000 for government job holders

- Minimum salary of BDT 50,000 for salaried individuals

- Minimum salary of BDT 50,000 for businesspersons & professionals

features

- Attractive rate of interest for Bproperty clients

- Faster loan processing

- Swift valuation and legal documents validation

- Availability of dedicated Relationship Managers from Midland Bank

- MDB SAALAM Home Finance, Islami Banking window for Shariah based home loan financing

- Loan Amount up to BDT 2 crore

- Loan Tenure: Max 25 years

- Partial and full settlement facility available

- Loan processing fee maximum BDT20,000; as per latest Bangladesh Bank circular for Bproperty clients

- No hidden charges

fee structure

- Early settlement fee: 0.50% of remaining loan outstanding balance

documents required

Property Documents:

Freehold properties:

- Ownership deed ( Photocopy)

- Baya deed covering at least 25 years (if any)

- Development agreement/Joint venture agreement with land owner/ developer

- Power of attorney (If any)

- Power of attorney acceptance letter from concerned Government Authority

- Recent survey report (i.e. Math Porcha duly attested)

- CS, SA,RS, Porcha (PS, BS, RS porcha only for Chittagong)

- Mutation Porcha with Mutation proposal sheet

- Duplicate carbon receipt (DCR) with mutation order sheet

- Up to Date Municipality Tax Receipt

- Up to Date Land Tax Receipt

- Non-encumbrance certificate (NEC)

- Approval Plan/ Layout and Approval letter by RAJUK/CDA/Concerned Authority

- Any other document asked by lawyer

Leasehold properties

- Lease Deed/Ownership deed ( Photocopy)

- Baya deed covering at least 25 years (if any)

- Development agreement/Joint venture agreement with land owner/ developer

- Power of attorney

- Power of attorney acceptance letter from concerned Government Authority

- Mutation (if any)

- Mutation letter from RAJUK/CDA

- Mutation letter from National Housing Authority

- Mutation Letter from Ministry of Works

- Duplicate carbon receipt (DCR) with mutation order sheet

- Up to Date Municipality Tax Receipt

- Up to Date Land Tax Receipt

- Non-encumbrance certificate (NEC)

- Approval Plan/ Layout and Approval letter by RAJUK/CDA/Concerned Authority

- Any other document asked by lawyer

Common Documents:

- 1 Passport sized recent photograph (standard format) of all the applicants

- Photocopy of valid passport OR National ID of all the applicants

- Photocopy of Latest TIN certificate

- Copy of loan sanction letter along with repayment account statements for all the existing facilities of the customer

- Letter of allotment or Copy of Registered Deed of Agreement for sale

- Rental agreement & house/flat ownership documents

- Renovation quotation

For Salaried Individuals:

- Salary certificate from Human Resource or concerned department which must include joining date & retirement date

- Photocopy / Original payslip

- Last 6 (Six) months bank account statement of salary account

For Professionals:

- Certificate of professional degree

- Certificate of Membership with respective Professional Association

For Business Person:

Sole Proprietorship

- Copy of Trade License indicating minimum 3 years experience

- Last 1 year Bank Statement

Partnership

- Copy of Trade License indicating minimum 3 years experience

- Partnership Deed

- Form-1 if registered by RJSC (Not Mandatory)

Limited Company

- Copy of Trade License indicating minimum 3 years experience

- Certificate of incorporation (RJSC certified)

- Certified Memorandum & Article of Association (RJSC certified)

- List of Directors/ Form XII (RJSC certified

- Certificate of Commencement for business of Public Limited Company

For Landlord:

- Rental agreement & house/flat ownership documents

Contact Us

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