Mutual Trust Bank Limited on Thursday launched four new retail loan products, personal loan, auto loan, home loan and home equity loan, as part of its programme to diversify products and services.
Launching the products at a ceremony at the MTB Centre in Gulshan, the bank’s managing director and chief executive officer Anis A Khan said the new products were aimed at providing world class banking facilities to the customers.
He also said all the products had been designed with competitive features and meant for businesspersons, landlords as well as salaried individuals.
The MTB personal loan would need no security and would range from Tk 50,000 to Tk 10 lakh at an interest rate of 17 per cent for salaried executives and 18 per cent for others.
The auto loan would be given to individuals for buying automobiles only for personal use and the amount would range from Tk 3 lakh to Tk 20 lakh at 14.5 per cent interest. The repayment period would be 12 months to 60 months.
The MTB home loan ranging from Tk 5 lakh to Tk 1 crore for buying apartments or constructing houses would be provided at an interest rate of 12.5 per cent and repayment has to be made within 3 years to 25 years.
Home equity loan of Tk 5 lakh to Tk 1 crore can be taken for extension and renovation of houses mortgaging the existing apartment or land. The interest rate would be 12.75 per cent and repayable in 3 years to 25 years time.
The bank’s deputy managing director Md Ahsan-uz-Zaman, consumer banking head Gazi Yar Mohammed and other MTB senior officials were present at the launching.
