Sometimes Government or non-government employees require large personal loans for various needs. Generally, small loans, hand loans or loans are available from relatives and friends, but for large loans, there is no one except the bank. To take a loan from the bank, you have to pay different parameters, but if you have a solid job, taking such a loan is easy. In todays article we discuss about “Sonali Bank Personal Loan and Sonali Bank Personal Loan monthly installments rates”.
Table of Contents
Sonali Bank Personal Loan
Currently Sonali Bank personal loan can be taken up to Tk 20 lakh. Which can be paid in 96 installments over 8 years. However, the loan amount will depend on the basic salary of the borrower.
Sonali Bank’s Tk 20 lakh loan tenure can be up to a maximum of 8 (eight) years or employment tenure (including PRL). In the case of loan approval, the amount of the loan should be determined in such a way that the monthly installment amount of the loan does not exceed the monthly net salary of the borrower. In case of a loan of 20 lakh Tk, the monthly installments for a period of 8 years will be 29,300 Tk. If a loan of 1 lakh Tk is taken for a period of 8 years, the monthly installment will be only 1465 Tk.
Sonali Bank Personal Loan Procedure
The procedure for taking a personal loan from Sonali Bank is described in the following steps:
Preparation of application
- First of all, visit the official website of Sonali Bank.
- Determine your situation and loan amount.
- Download and fill the application form and attach the required documentation with the application form.
Document submission and authentication
- Submit the completed application form along with supporting documents to your nearest Sonali Bank branch.
- Verification and authentication of application form and documentation may take some days.
Loan sanction and loan disbursement
- After completing the application and document verification, the bank will approve the loan based on your financial eligibility and loan tenure.
- After loan approval, the loan amount will be credited to your account.
- Loan disbursement will be made in your account for repayment of loan.
Sonali Bank Personal Loan procedure is very easy and simple.
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What documents are required to get Sonali Bank Personal Loan ?
A government employee takes a bank loan for his various needs during his employment. In this case, various procedures have to be followed in case of taking a large loan. I will present you a demo of what documents to provide and how to prepare them.
To get personal loan from Sonali Bank the following documents may be required:
- Some Documents for proof of your identity, such as National Identity Card (National ID Card), Passport, Driving License etc.
- 2 copies of passport size photographs (of applicant and guarantor).
- A signed affidavit with your age, physical address, recent passport size photograph and mobile number.
- Any of the following documents to prove your income: Income Tax Return (Income Tax Receipt), Salary Slip, Bank Statement etc.
- Some documents need to prove your pay stub, such as your employment number, pay date, pay amount, company address.
- If you have an insurance or other loan tie-up with the bank, copies of those tie-in documents may be required.
- You may be required to provide valid guarantors and some documents to prove their identity.
- If teacher under MPO, copy of MPO.
- Provident fund statement of the applicant.
Who can take Sonali Bank personal loan ?
Sonali Bank Personal Loan recipients are mostly retirees, government officers, government officers, university teachers, employees, business employees, MPOs, and other departmental employees who are getting personal loan benefits.
In order to avail their loan services, the following conditions must be met by the dignitaries:
- Your age should be between minimum 21 years and maximum 60 years.
- Proof of permanent address and personal ID proof must be provided.
- Spousal connection to the disabled person must be proven, if applicable.
- Gross income and necessary documentation must be provided, so that you can prove your employment and financial status.
- A special account may be required to be opened in your bank for repayment of the loan.
Sonali Bank Personal Loan monthly installments rates
If you take a loan from one lakh to 20 lakh Tk, the installments will be fixed with interest.
Please Note that, if the interest rate changes, the installment amount will also change. Besides, after payment of installments at the above rate, if there is any remaining due, it has to be paid with the last installment.
Last Word
To apply for a personal loan at Sonali Bank, you can visit their local branch or apply through their online portal. To apply online portal you first need to create an account and login with that account. Then you have to fill the application form, where you have to provide your personal information, income details, work information, your family member information etc. Also, you may need to provide your employer or source of income.
After filling the application form, you may need to submit some additional documents, like your income proof, personal ID proof, permanent address verification documents, etc. Also, you may need to purchase some additional stamps and submit them at the time of application.
After submitting the application, Sonali Bank will review your application and may determine your loan approval and interest rate. If approved, you will get a permanent loan offer from them which will be determined based on your application information, income and other parts.
After completing the Sonali Bank Personal Loan application process, you can be ready to avail the loan.
