Open doors to all your wishes with a convenient and safe access to financing without any profit or loss.
Investment Amount up to
80% of Term Deposit
Investment Tenor up to
1 Year
Features
- Quard is not a regular financing mode. It is sanctioned in favor of the customers to meet their urgent business or personal needs only.
- If Bank provides its client any Quard, it can receive service charge. The charge must be a lump sum amount irrespective of time and amount of Quard. It cannot be charged annually at a percentage rate.
- If a Quard is provided against any deposit scheme/instrument (in this case MTDR), Bank would not pay any profit (to the said instrument) by the amount of given as Quard. But profit would be given on the rest amount, as per terms of Mudaraba agreement.
- Maximum tenure of Quard facility would be 12 (Twelve) months only.
- The valued customer has to place a written application.
- A margin on MTDR as per practice/instruction of Head Office/Bangladesh Bank may be kept.
Eligibility
- Age must be at least 18 years with MTDR/FDR, DPS with Prime Bank or MTDR/FDR with other banks/NBFIs.
