The central bank says banks will be able to lend using their own branches, sub-branches, agent banking, MFS. However, the service charge cannot be taken in any way higher than the rate fixed by the central bank.
A customer will get a loan up to a maximum of five lakh rupees. However, in case of group loan, loan up to Tk 20 lakh can be given. No collateral is required to repay the loan. Of course personal guarantee can be taken. Credit guarantee scheme can be availed on loans above Rs 3 lakh. The bank will give the guarantee money from its own source, it cannot be imposed on the customer. The term of the loan will be three years. However, there will be a break in loan repayment for the first six months.
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