To apply for a Prime Bank PLC personal loan in Bangladesh, start by confirming eligibility: age 22-65 years, stable income (salaried, self-employed, or professional), and a clean credit history.
Eligibility Criteria
Prime Bank targets employed individuals or professionals with verifiable income, often requiring a minimum service period and no active defaults. A personal guarantor (minimum one) is mandatory, and applicants need recent proof of address via utility bills. Salaried borrowers submit salary certificates or letters of introduction (LOI), while self-employed provide tax returns or business documents.
Required Documents
Gather these core items before applying:
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Recent passport-size color photos of applicant and guarantor(s).
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Copies of NID/passport for applicant and guarantor(s).
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Latest utility bill (gas, water, electricity, or municipal tax).
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Quotation for purchase (if loan for specific item) or customer declaration.
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Business card/office ID (if applicable).
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Latest tax clearance certificate or E-TIN.
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Original salary certificate/LOI and pay-slips (for salaried).
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Offer/release letter from previous employer.
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Professional certificate (for freelancers/doctors).
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Last 6 months' bank statements.
Application Steps
Visit any Prime Bank PLC branch across Bangladesh (over 170 locations, including Dhaka) or download the Personal Loan Application Form from primebank.com.bd (updated December 2024 version available).
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Fill the form completely, declaring loan purpose (e.g., medical, education, travel).
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Attach all documents and submit at a branch with your guarantor present.
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Undergo credit check via CIC (Credit Information Bureau) and income verification.
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Receive approval/decline within 3-7 working days; disbursal follows via account transfer.
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Sign loan agreement and start EMI repayments.
Online pre-application may be possible via the bank's portal or hotline 16218, but full processing requires branch visit. Freelancers with Prime Freelancer Account enjoy zero processing fees.
Fees and Rates
Processing fee: Typically 1% (waived for select accounts); stamp charge and service fee apply. Interest rates are competitive (check current offers, often 9-12% reducing balance), with tenors up to 60 months. Early settlement allowed after 3-6 months with minimal penalty.
Approval Tips
Maintain a relationship with Prime Bank (e.g., existing account helps). Ensure debt-service ratio under 50% and provide accurate quotations. Branches in Dhaka (e.g., Motijheel) process fastest for urban applicants. Call 16218 for queries or visit primebank.com.bd/conventional/borrow/personal-loan for updates
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