The other major task of GK is to serve for the wellbeing of Grameen Bank (GB) borrowers, employees and their family members. Currently GK is funding for them in following different areas:
Welfare program for Grameen Bank Borrowers:
a. Higher Education Loan
b. Scholarships to meritorious students
Welfare Program for Grameeen Bank Employees:
c. Medical loan
d. Home appliances loan
a. Higher Education Loan:
GK pays interest subsidy for higher education loans provided by GB to the children of its borrowers. Till December 2015, GK provided 1559.60 million BDT for this purpose. GB calculates 12% interest for this loan of which the students pay only 5%, that starts immediately after the completion of their study. However, GK pays 12% interest during the period of their study and pays 7% interest after end of their study until the loan is paid back.
b. Scholarships to meritorious students:
GK awards scholarships in following categories to the children of GB borrowers' families for their outstanding performances in education, sports & culture:
Up to December 2015 GK provided BDT 418.60 million for this scholarship program.
c. Medical loan:
GK provides interest subsidy for medical loans borrowed by GB employees for themselves/their family members. Out of 12% imposed interest on this loan, the GB employee pays 5% interest and the rest 7% is paid by GK as subsidy on behalf of the GB employees. Until December 2015, GK has provided BDT 15.30 million subsidy against this loan.
d. Home appliances loan:
GK also pays interest subsidy for home appliances loan borrowed by GB employees. For this loan the GB employee pays 5% interest and on behalf of the employee GK pays additional 7% interest subsidy to GB which continues until the loan is paid back. Till the end of 2015, GK paid BDT 517 million for home appliances loan.