Mercantile Bank, IFAD Motors ink deal on 0% EMI facility

Mercantile Bank PLC has recently signed an agreement with IFAD Motors Limited, an automotive company and a subsidiary of IFAD Group, at the bank's head office in the capital.

Md Zahid Hossain, deputy managing director and chief business officer of Mercantile Bank PLC, and Muidur Rahman Tanvir, head of business of IFAD Motors Limited, signed the agreement, according to a press release.

Under the agreement, Mercantile Bank credit cardholders will be entitled to a zero percent EMI facility ranging from three to twenty-four months for any purchase from IFAD Motors.

Mostafizur Rahman, head of cards and ADC at the bank; Mohammad Faruque Ahmmed, head of corporate banking division; Md Mukitul Kabir, head of corporate affairs division; Tapon James Rozario, head of ILMD; and Md Rabiul Haque, head of sales and marketing at IFAD Motors; MA Aziz, head of commercial and banking; Md Masud Hossain Mizi, senior manager of accounts and finance; along with other senior officials of both organisations, were also present.