Deposit Rates at Mercantile Bank Ltd.

Mercantile Bank Ltd. is a third-generation bank that started its journey on 2nd June 1999. With the corporate slogan " Banglar Bank" it's literally working for the whole of Bangladesh rather than focusing on a specific group. Presently it has 148 branches actively working toward providing customer-oriented services. The bank is offering different types of deposit products. 

Savings Deposit Rate

Savings 2.50% (for general) (for any amount)

Fixed Deposit Rate

Period For any Amount Less than 3 Months 4.00% (For any amount) 3 Months 6.00% (For any amount) Above 3 Months to less than 6 Months 6 Months to less than 1 Year 1 Year 2 Year

Special Notice Deposit (SND) Account Rates

BDT 1 Lac to Less than BDT 1 Cr. BDT 1 Cr. to less than BDT 25 Cr. BDT 25 Cr. to less than BDT 50 Cr. BDT 50 Cr. to less than BDT 100 Cr. BDT 100 Cr. and above 2.50% 3.00% 3.50% 5.00% 6.00%

Masik Munafa Amanat Prokolpo (MMAP) Rates

Tenure Simple Interest Rate Effective Interest Rate 3 years or 5 years 7.80% 8.08% (3-5 years, Tk. 650 per month per Tk. 100,000/-before tax)

Masik Shanchaya Prokolpo (MSP) Rates

Period Simple Interest Rate Effective Interest Rate 3 Years 8.19% 8.50% 5 Years 8.19% 8.50% 8 Years 8.19% 8.50% 10 Years 8.19% 8.50%

Digun Briddhi Amanat Prokolpo (DBAP) Rates

Tenure Effective Interest Rate 9 years 8.01%

Troi Masik Munafa Amanat Prokolpo Rates

Tenure Simple Interest Rate Effective Interest Rate 3 years 7.80% 8.08% (Tk.1,950 per quarter per Tk.100,000/- before tax)

Super Munafa Amanat Prokolpo (SMAP) Rates

Tenure Simple Interest Rate Effective Interest Rate 1 years 7.84% 8.13% (Tk.1,000 per month per Tk.170,000/-)

Non Chequeable Savings Bank Account (NSB A/C) Rates

Non Chequeable Savings 1.5 % higher interest than of usual Savings Bank Account

Aporajita Masik Munafa Prokolpo Rates

Tenure Effective Interest Rate 3 years or 5 years 8.41% (Tk.675 per month per Tk.100,000/-)

MBL Bonus Sanchay Hishab Rates

Minimum Balance BDT 10,000.00 Simple interest rate is equal to the interest rate of regular Savings Bank (SB) account. Minimum Balance BDT 50,000.00 Simple interest rate is 0.50% higher than the interest rate of regular Savings Bank (SB) account. Minimum Balance BDT 100,000.00 Simple interest rate is 1.00% higher than the interest rate of regular Savings Bank (SB) account.

Savings Bank Account for MSS Rates

1.00% less than the existing Savings Bank Account i.e. 1.5%

Poribar Surokkha Amanat Prokolpo (PSAP) Rates

Tenure Simple Interest Rate Effective Interest Rate 2 years or 4 years 7.80% 8.08% (Tk.650 per month per Tk.100,000/-)

* Fixed Rate

** Subject to receiving of refinance from Bangladesh Bank. Loan under refinance scheme of Bangladesh Bank shall be  guided by Bangladesh Bank Circulars/Instructions.

*** Margin Fixed but rate of the interest to be fixed based on interest of financial instruments i.e FDR/Scheme deposit.

-> For agro-processing industry under SME, rates & rules mentioned in relevant Bangladesh Bank (BB) circular will be applicable whether loans are refinanced by BB or not.

Note:

1.                1. The revised rate will also be applicable for any lending under Syndication/Club but it will be determined based  on common decision of the lenders and borrower meeting. However, it will not be applicable for any loan at special  rate approved by the Board of Directors of the Bank. 2. The revised rate(s) on lending will be effective from April 01, 2020 and shall remain in force until further instructions. 3. The revised rates shall be notified to the customers in written and installment size against Term Loan to be re-fixed  as well as Cheque (s) against installment(s) to be replaced (lf applicable).

Source: mblbd.com