IFIC Shohoj Rin

IFIC Shohoj Rin

There is a group of people who doesn't have the privilege of having formal financial services for personal need and to reinforce their income generating activities. To address this issue, IFIC Bank is introducing a new umbrella loan product named "IFIC Shohoj Rin". This product is aimed to provide loan for Agriculture & Agro based activities, grass root level entrepreneurs, marginal & landless farmers and support other low income individuals such as garments workers & Other service holders, masons, electricians, plumbers, fishermen, goldsmith, weavers, blacksmiths, potters, carpenters, painters, vegetable sellers etc.

This “IFIC Shohoj Rin” is a bundle of:

  • Shohoj Rin for Cottage & Micro Enterprises
  • Shohoj Rin for Marginal Farmers (Livestock & Fisheries)
  • Shohoj Rin for Marginal & Landless Farmers (Crops)
  • Shohoj Rin for Low Income Individuals


Features:

  • Loan amount: In case of Livestock & Fisheries Maximum BDT 1,00,000/- and for all other loan maximum BDT 50,000/=.
  • Loan Tenor: Maximum 12 months.
  • Security: Third party personal guarantee as acceptable to the bank.
  • Fees & Charges: Only Documentation / Stamp charge at actual.


Required Documents:

Initial documents required for loan application submission:

  • 2 copy passport size photograph of borrower and guarantor
  • Copy of National Identity Card/ Passport/ Driving License of the Borrower & Guarantor
  • Valid Trade License (if available)
  • Letter of introduction from employer in case of Salaried person (if available)
  • Certification of occupation by any socially acceptable person (in absence of Trade License or Letter of introduction)