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The City Bank Limited

Bank Summary
Interest Rates
Eligibility Criteria
Features
Fee Structure
Documents Required
Bank Summary

The City Bank Limited is a leading private commercial bank in Bangladesh, with its headquarters located in Dhaka. The bank offers a wide range of products and services including retail banking, corporate finance, SME banking, women banking, digital banking, asset management, equity brokerage, and security. With a strong focus on customer satisfaction, innovation, and technology, the City Bank has established a reputation as a reliable and trusted banking partner for individuals and businesses in Bangladesh.

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Interest Rates

Starting from 8.00% (variable rate)

Eligibility Criteria

–  Applicants must be at least 22 years old and not exceed 65 years old or the retirement age, whichever is lower.

–  Salaried and professional applicants must have a minimum monthly income of Tk. 45,000, while businessmen must have a minimum monthly income of Tk. 50,000.

–  Guarantors are not required for the loan application.

–  Applicants must have a minimum of three years of job or work experience.

–  For businessmen, the trade license or business experience must be at least three years old.

Fee Structure

For loan amounts up to Tk. 50 lac, the processing fee is either 0.5% of the loan amount or a maximum of Tk. 15,000.

For loan amounts exceeding Tk. 50 lac, the processing fee is either 0.3% of the loan amount or a maximum of Tk. 20,000.

 

income criteria (salaried and business)

Salaried individuals must have a minimum monthly income of Tk. 45,000.

Businessmen must have a minimum monthly income of Tk. 50,000.

Professionals must have a minimum monthly income of Tk. 45,000.

preferred segment of client

Individuals who are employed in salaried positions, including those who work for the government, are eligible for the loan.

non-preferred segment of the client (negative list)

The loan is available to various categories of individuals, including cash salaried customers, employees of proprietorship and partnership firms, employees of print and electronic media, and non-management staff.

Businesses that prioritize ethical, social, and environmental concerns, as well as informal sectors such as brokerage, education and counseling, co-operative and MLM businesses, and other businesses that are sensitive to political and economic cycles, are also eligible for the loan.

The loan is not available to public figures and individuals with political affiliations, legal professionals, individuals who own property through Power of Attorney, immediate family members of individual flat sellers (including spouses, parents, children, and siblings), directors of developer companies, and their immediate family members if the proposed flat is in their own project.

key features

The maximum loan amount that can be availed is Tk. 2 Crore.

The property for which the loan is sought can be located anywhere in the country where the City Bank has a physical presence, such as branches, sub-branches, SME centers, and agent banking outlets.

The loan can only be availed for residential properties.

At least 75% of the construction work, including internal plaster work, of the proposed property must be completed before the loan application can be submitted.

other fees

Early settlement fee:

  • The early settlement fee is the same as mentioned below.

Partial settlement:

  • A fee of 0.5% of the settlement amount plus 15% VAT is applicable for partial settlement.
  • The minimum settlement amount is Tk. 1 lac or the amount equivalent to 03 months EMI, whichever is higher.
  • At least 06 full EMIs must be paid before making any partial settlement.

Full settlement:

  • A fee of 0.5% of the outstanding amount plus 15% VAT is applicable for full settlement.
  • At least 06 full EMIs must be paid before full settlement can be made.
loan tenure

Minimum 1 year and Maximum 25 years

Documents Required

Required Property Documents:

Freehold Properties:

  • Copy of deed of agreement (between developer/seller and purchaser)
  • Money receipt or equity payment confirmation letter for payment made by purchaser to developer/seller
  • Ownership deed – Baya deed for the last 25 years
  • Certified copy of C.S/S.A/R.S/City Jorip or B.S or Math Porcha
  • Mutation Khatian along with DCR based on the last land record from AC land office
  • Joint venture agreement between landowner and developer
  • Power of Attorney deed
  • Up-to-date NEC/EC
  • Up-to-date land tax and holding tax receipts
  • Approved plan with approval letter from the concerned authority (Union Porishod plan not acceptable)

Leasehold Properties:

  • Copy of deed of agreement (between developer/seller and purchaser)
  • Money receipt or equity payment confirmation letter for payment made by purchaser to developer/seller
  • Lease Deed/Ownership Deed – Baya Lease Deed for the last 25 years (if any)
  • Mutation Letter from Concern Authority (Rajuk/NHA/Ministry of works/CDA/others)
  • Mutation Khatian along with DCR based on the last land record from AC land office
  • Mortgage Permission from Concern Authority (if required)
  • Joint Venture Agreement between Landowner and Developer
  • Power of Attorney deed and Acceptance Letter from Concern Authority
  • Up-to-date NEC/EC
  • Up-to-date land tax & holding tax receipt
  • Approved plan with approval letter from the concerned authority (Rajuk/CDA/others)

Documents from Individuals (Salaried, Business Person, Landlord, Professionals, and other income sources):

Common Documents for all:

  • Three recent passport size photographs for each applicant
  • Copy of National ID (NID)
  • Office ID/Visiting card
  • Latest Tax Clearance Certificate (within the last 2 years).
Salaried Individual (Income Documents)
  • Introduction letter (on official letterhead as prescribed)
  • Salary certificate/ Pay slip – last 6 months for salaried individuals
  • Bank statement for last 6 months – Loan statement and sanction letter (if any)
  • Business profile/Company profile (for businesses with no prior relationship with City Bank)
Business Profile (Income Documents)

  • Trade License copy for the last 3 years

  • Bank statement of the company for the last 12 months

  • Memorandum of Association (MOA)/Partnership Deed (for Limited/Partnership Concern)

  • Latest Schedule X & XII or Board Resolution

  • Loan statement and Sanction letter

  • Letter of Credit (LC)/Import Registration Certificate (IRC)/Export Registration Certificate (ERC) copy (for import/export business)

  • Dealership Agreement for dealers and Work Order for suppliers/contractors

  • Personal Bank statement for the last 12 months (for partner/director of a partnership/limited liability concern)

Landlord (Income Documents)
  • Current and valid ownership/title documents for rental properties.
  • A valid and current rental agreement with tenants, which is stamped and valued at Tk. 300. The property address in the agreement should match the ownership documents.
  • Declaration of rental income with detailed information.
Professionals (Income Documents)

  • Self-Declaration in own PAD for other income sources

  • Bank statement for last 12 months for other income sources

  • Relevant income related documents as deemed necessary for other income sources.

Contact Us
To apply please fill out this form. We will contact you soon.

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