Bank Loan – Bank Loans For Unemployment Youth

Bank Loan. On the occasion of the 100th anniversary of Bangabandhu Sheikh Mujibur Rahman (Mujib Year), the government has signed an agreement with the Employment Bank for unemployed youth to launch a project called ‘Bangabandhu Youth Loan’

In order to keep no one unemployed, the youth will be given loan facility of Rs 20,000 to Rs 5 lakh without collateral.

আবেদন করার জন্য প্রথমে লিংকে প্রবেশ করুন। তারপর আপনার বিস্তারিত তথ্য দিয়ে আবেদন সম্পন্ন করুন।

Bank Loans For Unemployment Youth Bangladesh

State Minister for Youth and Sports Zahid Hasan Russell made the remarks on Tuesday (June 30th) at the eighth episode of the Awami League’s special webinar ‘Beyond the Pandemic’ on Corona and later Bangladesh. During the discussion, State Minister for Youth and Sports Zahid Hassan Russell said, “As a result of Corona, many of our youth communities, like those around the world, who are in various workplaces, will become partially or completely unemployed.”

Can I get Bank loan if I am unemployed?

We have planned to provide training in various trades and provide loans to these suddenly unemployed people who have left or are thinking of moving to rural areas to create self-employment and increase their skills. We have halved the interest on loans. In order to ensure that no one is unemployed in this Mujib year, we have made an agreement with Karmasangsthan Bank to launch a project called ‘Bangabandhu Youth Loan’, where a minimum unsecured loan of Tk 20,000 to a maximum of Tk 5 lakh will be provided.

At the behest of the Prime Minister, we want to build the skilled population of the unemployed across the country. And I will arrange their training as he is. Our target is to create employment for 12 lakh skilled youth in the next three years.

In the eighth episode of the special webinar of Bangladesh Awami League, the speakers expressed their views on the youth as the main fighters for building the future of Bangladesh. “Young people are the main fighters in achieving our future dreams,” they said in a live broadcast on the party’s official Facebook page.

Prime Minister Sheikh Hasina’s Special Assistant Barrister Shah Ali Farhad was the negotiator in the webinar, Education Minister Dr. Dipu Moni, Minister of State for Youth and Sports. Zahid Ahsan Russell, Deputy Minister of Education Mahibul Hasan Chowdhury, Bangabandhu Sheikh Mujibur Rahman Digital University Vice-Chancellor Prof. Sufi Farooq Ibn Abubakar, founder of Munaj Ahmed Noor and Gurukul Online Learning Platform.

If you want to get a loan, you have to apply in the prescribed form of the bank (100 rupees value). You can apply here. There is no processing fee. The matter is disposed of within a maximum of 45 days of application. Entrepreneurs must be citizens of Bangladesh to get a loan from Karmasangsthan Bank. Must be a permanent resident of the branch jurisdiction. The age is usually 18 to 45 years. However, in the case of older borrowers, the age limit is relaxed.

Entrepreneurs have to provide some capital on their own initiative. Must have some more qualifications including appropriate training or experience in project management. Under the special program of the government, loans are given on priority basis under the Ministry of Labor and Employment for child labor elimination projects engaged in hazardous work, re-training and employment program for voluntary or laid off workers in industrial factories and loan assistance program in agro-based industries under the Ministry of Finance.

Unsecured loans are given especially for micro-employment programs for self-employment of unemployed youth and loan programs for agro-based industries. Apart from this, loans were given to fisheries, animal husbandry farms, various industries, small and cottage industries, service sector, commercial sector and other productive project sectors. To get a loan from Employment Bank, the bank has to have a monthly installment based savings account scheme.

Karmasangsthan Bank

Karmasangsthan Bank was formed in 1996 for the purpose of providing employment to the unemployed youth of the country. The purpose of setting up a bank is to involve unemployed youth in economic activities, create self-employment, encourage investment in cottage industries, help in alleviating poverty, etc. Since its inception, the bank has been providing loans to meet its objectives. However, the bank does not have the capacity to lend as much as the demand for loans. Apply link is http://www.kb.gov.bd/

Karmasangsthan Bank has 33 regional offices and 24 branches. The paid up capital of the bank is Tk 499.50 crore. At the end of the 2016-17 financial year, the bank’s loan balance was 1,296.95 crore. The bank’s default rate is 6 percent. Karmasanghtan banks cannot collect deposits from the general public. With paid-up capital and money collected through borrowers’ deposits, the bank manages administrative expenses and maintains reserves. A portion of the remaining money can then be disbursed.

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