Dhaka, Bangladesh (BBN)- The Commercial Bank of Ceylon (CBC), a foreign commercial bank, has launched ‘Eid Loan’, a promotional personal loan product offered for the third consecutive time.

The features of the promotional loan is 2.0 percent reduced interest rate than the normal personal loan and will be approved within two working days, based on the availability of credit information bureau (CIB) report, the bank said.

The prospective borrowers should have a minimum income of BDT 20,000 and the maximum loan amount is BDT 0.10 million to be repaid within twelve months.

The main purpose of re-introducing the promotional loan is to facilitate the credit worthy individuals to avail finance for their Eid festival related expenses and make their Eid more eventful, the bank said in a press statement.

Eid loan offer will end on September 15 this year.

BBN/SS/SI/AD-20August09-1:40 am (BST)