Retail Loan

Retail loan is very popular & user – friendly loan offered by different scheduled banks operated in Bangladesh. This loan is specially designed for individuals rather than business or corporate entity. Some bank called it as consumer/personal loan.

Features

• It is a small size loan.
• These loans meet the needs of a large number of individual customers with well diversified portfolios.
• The target customers are generally individuals rather than business entity.
• Retail loan have standardized process & structure.
• The operations of retail loans are centralized in most of the banks.
• Bankers can make quick credit related decisions because of the prescribed format.
• Loan processing time requires 7 to 12 working days usually if all requirements of bank are fulfilled properly.
• Loan is repaid usually in Monthly Equal Installment (EMI) till loan expiry (except overdraft loan).

Different types of Retail Loan Products