Midland Bank Ltd.

Bank Summary

Midland Bank Ltd. (MDB) is a private commercial Bank in Bangladesh incorporated on March 20, 2013. We seek to be the first choice of our 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.

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Interest Rates

8.49%

Eligibility Criteria

Applicants must be between 21 and 65 years old to be eligible.

Government job holders must have a minimum monthly salary of BDT 40,000 to qualify.

Salaried individuals must earn at least BDT 50,000 per month to meet the eligibility criteria.

Businesspersons and professionals are also required to have a minimum monthly income of BDT 50,000 to be eligible.

Features

-Probashirealty clients can enjoy an attractive interest rate on their home loans.

-Midland Bank offers faster loan processing to ensure that clients get their loans approved quickly.

-Valuation of the property and validation of legal documents are conducted promptly to speed up the loan disbursement process.

-Dedicated Relationship Managers from Midland Bank are available to assist Probashirealty clients with their home loan needs.

-Midland Bank also offers Shariah-compliant home loan financing through its MDB SAALAM Home Finance, Islami Banking window.

-The maximum loan amount available to Probashirealty clients is BDT 2 crore.

-The loan tenure can be up to 25 years, giving clients flexibility in choosing a repayment plan that suits their needs.

-Clients can make partial or full settlements on their loans.

-The maximum loan processing fee for Probashirealty clients is BDT 20,000, as per the latest circular from Bangladesh Bank.

-Midland Bank is transparent in its dealings with clients, and there are no hidden charges associated with its home loan products.

Fee Structure
– Early settlement fee: 0.50% of remaining loan outstanding balance
Documents Required

Freehold properties:

  • Ownership deed (photocopy)
  • Baya deed covering at least 25 years (if available)
  • Development agreement or joint venture agreement with the landowner/developer
  • Power of attorney (if applicable)
  • Power of attorney acceptance letter from the concerned government authority (if applicable)
  • Recent survey report (attested Math Porcha)
  • CS, SA, RS, Porcha (PS, BS, RS porcha for Chittagong only)
  • 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 or Layout and Approval letter by RAJUK/CDA/Concerned Authority
  • Any other document requested by the lawyer

Leasehold properties:

  • Lease Deed or Ownership deed (photocopy)
  • Baya deed covering at least 25 years (if available)
  • Development agreement or joint venture agreement with the landowner/developer
  • Power of attorney (if applicable)
  • Power of attorney acceptance letter from the concerned government authority (if applicable)
  • Mutation (if available)
  • 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 or Layout and Approval letter by RAJUK/CDA/Concerned Authority
  • Any other document requested by the lawyer

Common Documents:

  • One recent passport-sized photograph (standard format) of all applicants
  • Photocopy of valid passport or national ID of all applicants
  • Photocopy of latest TIN certificate
  • Copy of loan sanction letter along with repayment account statements for all existing facilities of the customer
  • Letter of allotment or copy of registered deed of agreement for sale
  • Rental agreement and house/flat ownership documents
  • Renovation quotation

For Salaried Individuals:

  • Salary certificate from Human Resource or concerned department including joining date and retirement date
  • Photocopy or original payslip
  • Last six months’ bank account statement of the salary account

For Professionals:

  • Certificate of professional degree
  • Certificate of Membership with respective Professional Association

For Businesspersons:

Sole Proprietorship:

  • Copy of Trade License indicating minimum three years of experience
  • Last one-year bank statement

Partnership:

  • Copy of Trade License indicating minimum three years of experience
  • Partnership Deed
  • Form-1 if registered by RJSC (not mandatory)

Limited Company:

  • Copy of Trade License indicating minimum three years of experience
  • Certificate of incorporation (RJSC certified)
  • Certified Memorandum and Article of Association (RJSC certified)
  • List of Directors or Form XII (RJSC certified)
  • Certificate of Commencement for business of Public Limited Company

For Landlords:

  • Rental agreement and house/flat ownership documents.
Contact Us
To apply please fill out this form. We will contact you soon.

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