Banks can give up to 70% loan for laptop, mobile purchase

Under consumer loans category, banks will be able to provide a maximum of 70% loans to customers for the purchase of digital devices, including laptops, mobiles, computers, and tabs.

In this case, consumers have to provide the remaining 30% capital.

The Banking Regulation and Policy Department of the central bank issued a circular in this regard on Monday.

According to the circular, banks will be able to disburse a loan-margin ratio of 70 to 30 instead of the existing 30 to 70 in the case of distribution of consumer loans for digital device purchases.

According to the circular sent to the managing directors and chief executives of all scheduled banks, the use of digital devices among teachers and students in almost all educational institutions has increased due to the outbreak of the coronavirus pandemic.

In addition, as part of the government's vision for a digital Bangladesh, funding for ICT is being encouraged for reliable digital access at the grassroots level and for the development of human resources.

This instruction will take effect immediately and will remain in force until further instructions. The circular states that the directive was issued under the powers conferred by Section 45 of the Banking Companies Act, 1991.