Loan of Tk 50,000 can be received within 2 hours of applying online
When people suddenly face a financial shortfall for personal needs, many turn to friends, relatives, or acquaintances for help.
Taking out a bank loan, meanwhile, often involves extensive paperwork, repeated visits to branches, and lengthy delays.
In such situations, Dhaka Bank has introduced its digital platform ‘e-loan’ as a fast and short-term personal lending service.
Through this platform, customers can apply online and receive loans of up to Tk 50,000 within just two hours.
Through this technology-driven service, salaried employees, low-income individuals, and professionals can easily apply for loans using a mobile application.
Under the e-loan service, customers may borrow between Tk 1,000 to Tk 50,000. The repayment period is either three months or six months, meaning borrowers must repay the loan in monthly instalments.
Who can apply?
Any Bangladeshi citizen aged over 21 and residing in Bangladesh may apply for an e-loan. However, applicants must have a minimum monthly income of Tk 10,000.
They must also possess an active bank account, a valid National Identity Card, a mobile number or Google account, and proof of address.
No collateral is required. Applicants only need to provide accurate documents so that their eligibility can be assessed.
Required documents
Applicants must generally submit four types of documents for an e-loan application:
National Identity Card.
Latest salary slip or proof of income.
Recent bank account statement.
Proof of address.
As proof of address, applicants may submit a passport, electricity, gas or water bill, T&T telephone bill, or a holding tax receipt.
If the present and permanent addresses differ, additional documents may be required.
Applicants must also upload a personal photograph. All documents must be submitted in JPG format and clearly legible.
How quickly the loan is disbursed
According to the bank, if applicants submit the required documents correctly, the loan amount may be transferred to their bank account within one working day, and in some cases within two hours.
Banking sector insiders say digital loan services are creating an alternative pathway for young employees and low-income individuals to access funds quickly.
However, they advise borrowers to review interest rates, service charges, and their repayment capacity carefully before taking a loan.
Bank officials say the service has gained considerable popularity. HM Mostafizur Rahman, head of retail at Dhaka Bank, told Prothom Alo, “We are receiving a tremendous response to e-loan. So far, customers have taken this loan more than 50,000 times. Since its launch in April 2022, we have disbursed loans worth more than Tk 1 billion (100 crore). Low-income individuals are using it the most. Everyone from garment workers and small business owners to salaried employees and teachers is taking these loans.” He added that more than 1,000 customers use the service every month.