Banking Products - Bangladesh Business News

NRB Bank introduces savings accounts for farmer

BBN Desk — Sat, 28 Nov 2015 08:40:16 +0000

Dhaka, Bangladesh (BBN) – NRB Bank Limited has introduced a new savings accounts for the farmer and lower income group at the Banking Fair Bangladesh-2015 to include the marginal clients with the banking network.
Bangladesh Bank (BB) Governor Atiur Rahman introduced the product to speed up the country’s financial inclusion, Munjur Elahi, Associate Relationship Manager of NRB Bank, told BBN at the fair premises in the capital Dhaka on Friday.
The farmers, freedom fighters and lower income group will be allowed to open accounts with the bank by keeping initial deposit of BDT 10, the banker added.
“We’ll not impose any charge to operate the account and give attractive rate of interest to the clients,” the private banker explained.
The bank is focusing its credit card at the fair as the annual charge of the product is lower than that of other banks, he claimed.
The bank imposes BDT 1,000 as annual charge for the credit card holders although other banks impose between BDT 1,500 and BDT 2,000, according to the banker.
The NRB Bank has recently introduced a SME credit product for the women entrepreneurs namely ‘Prerona’ where the female businesspeople will enjoy loan amounting to BDT 1.0 million without placing any collateral securities.

The rate of interest of the product is 10 per cent.

BB Governor Dr Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.

BBN/SSR/RZ

SBAC Bank offers product for elderly people

BBN Desk — Sat, 28 Nov 2015 07:00:23 +0000

Dhaka, Bangladesh (BBN) – South Bangla Agriculture and Commerce Bank Ltd is working to highlight a product for elderly people aged above 55 at the Baking Fair Bangladesh-2015.

The elderly people who will avail the product will feel secure by depositing money with the bank.

The bank offers one per cent higher interest rate for the elderly people than that of its other savings products, Md Abu Bayazid Sheikh, a first vice president of SBAC Bank, told the BBN during the ongoing fair.

The product named “Senior Citizens” will provide 6.50 per cent interest rate while the bank offers 5.50 per cent rate of interest for the common savings products, Mr Sheikh said.

The bank has also begun providing free debit card to the clients since the opening date of the fair and the programme will continue in the days to come, he added.

The bank is also focusing its personal loan product at the fair.

A client will be allowed to receive maximum loan amounting to BDT 10 lakh with a minimum interest rate of 15 per cent under the product.

The repayment tenure of the loan is 10-years.

Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.

The fair will be wrapped up this evening with a closing ceremony.

BBN/RZ/ANS

Farmers Bank for popularising school banking

BBN Desk — Sat, 28 Nov 2015 06:37:29 +0000

Dhaka, Bangladesh (BBN) –Farmers Bank Limited (FBL) is working to popularise its school banking product at the Banking Fair-2015 as the bank will offer attractive rate of interest against the deposit amount of the students.
The bank has recently introduced a savings account for the students namely ‘FBL School Banking’, an official of the private commercial bank (PCB), told BBN at fair premises in Dhaka on Thursday.
Under the product, the students, whose age between 6-year and 17-year, will be allowed to open the account with keeping minimum balance of BDT 100, the official said, on condition of anonymity as he is not authorized person to speak the media.
Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.
The PCB will give profit to the students against their daily-basis deposit and they will be able to withdraw the profit every after six month.

The rate of interest of the product is 6.0 per cent.

The bank is focusing at the fair it’s a credit product for the SME women entrepreneurs.

The entrepreneurs will be able to receive loan between BDT 50,000 and BDT 5.0 million as per their demand.

The rate of interest of the product is 10 per cent and the clients will not require placing any collateral securities if they take loan up to BDT 1.0 million.

BBN/SSR/RZ

Meghna Bank wants to popularise home loan products

BBN Desk — Sat, 28 Nov 2015 06:24:14 +0000

Dhaka, Bangladesh (BBN) – Meghna Bank Limited wants to popularise its two home loan products at the Banking Fair Bangladesh-2015 with offering lower interest rate to the clients.
“We’re offering the home loan ranging between BDT 1.0 million and BDT 12 million with an interest rate of 13 per cent,” Md Shahnewas Roky, an assistant officer of the private commercial bank (PCB), told BBN at fair premise in Dhaka on Thursday.
Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.
The clients are allowed to repay the loan by 20-year, according to the banker.
The new PCB is focusing another home loan namely ‘Apon Aloy’ at the fair for the urban people.
The bank will provide the urban people to build tin shade and semi-detached home with an interest rate of 13 per cent.
“We’re offering our Apon Aloy loan product to the clients ranging between BDT 0.50 million and BDT 2.5 million,” the banker explained.
The repayment tenure of the product is 10-year.
The PCB is also offering its three FDR products with an attractive rate of interest to the clients.
Meghna Bank offers 8.50 per cent rate of interest for three-month FDR, 8 per cent for six month and one-year.

BBN/SSR/RZ

RAKUB offers deposit pension scheme for lower income group

BBN Desk — Sat, 28 Nov 2015 06:02:44 +0000

Dhaka, Bangladesh (BBN) – Rajshahi Krishi Unnayan Bank (RAKUB) is offering a deposit pension scheme (DPS) at the Banking Fair Bangladesh-2015 aiming to facilitate lower income group.
“We’re offering the DPS with minimum installment considering the income situation of the farmers and lower income group,” Shawkat Shahid, a senior principle officer of the specialised bank, told BBN at fair in the capital Dhaka on Friday.
Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.
The monthly installment of the DPSs is BDT 50, BDT 100 and BDT 200 respectively.
A client will get BDT 23,150 by seven years if he or she pay installment BDT 200 per month, the banker added.
The RAKUB has also introduced another DPS for the home maker women namely ‘Housewife Savings Scheme’ to empower the women.
The housewives will enjoy BDT 75,290 after five years if she pay monthly installment of BDT 1,000.
However, the specialised bank is now disbursing farm loan to the landless and share croppers with an interest rate of 11 per cent in line with the central bank advices.

“We’re providing such loan without taking any collateral securities from the farmers,” the banker noted.

BBN/SSR/RZ

NRB Commercial Bank working for savings scheme at fair

BBN Desk — Sat, 28 Nov 2015 05:48:11 +0000

Dhaka, Bangladesh (BBN) – NRB Commercial Bank Ltd is working to highlight one of its exceptional savings scheme at the Banking Fair Bangladesh-2015 as it offers an attractive rate of interest on the product.

The savings product is namely “Sohoj Sonchoy Deposit Hisab” which is offering interest rate between 5.50 per cent and 6.5 per cent to the clients, Chiranjib Roy, an assistant officer of NRB Commercial Bank, told the BBN during the ongoing fair.

Under the product, the clients will enjoy an interest rate of 5.50 per cent on daily-basis against their deposited amount of BDT 50,000 and 6 per cent for BDT 1 lakh and 6.50 per cent for BDT 2 lakh.

The clients, however, will not get any interest rate on the products if their minimum deposited balance decrease to BDT 50,000.

The product was highly attractive to the clients as the rate of interest is higher than that of the fixed deposit receipts operated by a number of banks, Mr Roy added.

The bank is also focusing another deposit pension scheme at the fair namely “Money Maker Scheme” in which it offers 11.40 per cent rate of interest to the clients.

Under the product, a client will get BDT 10.95 lakh after five years if he or she pay installment of BDT 5,000 per month.

BBN/SS/AI

Banking Fair: HSBC focuses deposit products

BBN Desk — Sat, 28 Nov 2015 05:41:10 +0000

Dhaka, Bangladesh (BBN) –HSBC is focusing its ‘Select’ deposit product at the Banking Fair Bangladesh-2015 aiming to attract clients.
“We’re now operating the product in the form of the current and savings scheme and any client will have to open the ‘Select’ to start business through the HSBC,” Afrin Aktur Rumi, personal banker of the bank, told BBN at fair in the capital Dhaka on Wednesday.
Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.
Under the ‘Select’ product, the clients will receive 2.50 per cent rate of interest against their deposit with the savings account.
The foreign commercial bank is also highlighting another deposit product namely ‘Smart Savers Plan’.
Under the product, a client will get BDT 41,000 after three year if he or she pay installment BDT 1,000 per month meaning that the bank will give 2.50 per cent interest on the deposited amount.
The HSBC offers 4.0 per cent rate of interest against its fixed deposit scheme of BDT 2.5 million. The tenure of the FDR is four-year.
The bank, however, offers 3.0 per cent rate of interest against the FDR of below BDT 2.5 million.

BBN/SSR/AD

FAS finance comes with SME products

BBN Desk — Sat, 28 Nov 2015 05:29:32 +0000

Dhaka, Bangladesh (BBN) – FAS Finance and Investment Ltd, a non-bank financial institution, is working to popularise its SME products at the Banking Fair Bangladesh-2015.

The non-bank financial institution (NBFI) came with it as it will disburse a large amount of loan to its clients under the SME product.

The clients will be allowed to receive maximum loan amount of Tk 20 crore from the NBFI to expand their enterprises under the product, Tanvir Ahmed, a senior officer of FAS Finance and Investment Ltd, told the BBN during the ongoing fair.

The clients, who will receive SME loan under the product, will have to repay the loan by five years.

The female entrepreneurs, however, will be able to receive maximum credit amount of BDT 20 lakh without any collateral securities.

The rate of interest of the product is 10 per cent as the NBFI will disburse the loan by taking fund from Bangladesh Bank refinance scheme.

The repayment period is five year.

BBN/SS/AI

NBP offers higher interest rates on term deposit

BBN Desk — Sat, 28 Nov 2015 05:05:54 +0000

Dhaka, Bangladesh (BBN) – National Bank of Pakistan (NBP) is offering higher interest on its term deposit products than that of the other banks at the Banking Fair Bangladesh-2015.

The NBP has offered three fixed deposit receipts (FDRs) for the clients which tenure is one-month, three-month and one-year, Arshad Javed, an officer of the foreign bank, told BBN at fair premise in Dhaka on Friday.

It offers 10 per cent rate of interest to the clients if they invest the one-year FDR and 9.50 per cent for three-month and 8.50 per cent for one-month, the bankers added.

“We’re offering the clients an attractive savings scheme as the clients will be able to double their deposit amount by six years,” Mr. Javed explained.

He also said that other banks usually pay the double amount against the clients’ deposit after seven years under the double money scheme.

Currently, most of the banks are slashing their interest rates on deposit following excess liquidity mainly due to lower credit demand in the recent months.

“The country’s banking sector is now facing excess liquidity pressures so that they slash their interest rates on deposit continuously but the NPB is exceptional,” the private banker noted.

BBN/SSR/RZ

Pubali Bank at fair with loan products, deposit and savings schemes

BBN Desk — Fri, 27 Nov 2015 10:46:51 +0000

Dhaka, Bangladesh (BBN)-Pubali Bank has offered a convenient savings scheme named “Sadhin Sanchay” for clients at the Banking Fair Bangladesh-2015.

The loan product was featured at the bank’s booth at the ongoing fair on Bangla Academy in Dhaka.

Under this scheme, a client could deposit any amount starting from BDT 100 to his or her account once or more than once in a day.

The client will not face any fine if he or she does not deposit any amount.

This scheme designed for 36 months and the account-holder will enjoy 6 per cent interest at accrued rate, and withdrawal of interest anytime.

The bank’s other 11 savings and deposit schemes are: Pubali Sanchay Prokolpo, Swopnopuron, monthly-profit based fixed deposit, Digun Sanchay Prokolpo, fixed deposit, Shikhsa Sanchay Prokolpo, Pubali Pension Scheme, Pubali School Banking, special notice deposit account and current account and savings account.

The bank also showcased some 24 loan products including continuous loan, short-term finance, long-term finance, work order/ construction business finance, personal loan, car loan, flat purchase loan, household durable loan, medical equipment loan, government primary school teachers’ loan, non-resident credit, Probash Bondhu, PBL Suborna, Pubali Star, PBL Sujon, PBL Kormo Uddog, PBL Prochesta, Lease Financing Scheme, Animal Husbandry/ Biogas Plant Loan, Beef Flattening Loan, Bullock Loan, irrigation/ agriculture equipment loan, milk cow/ buffalo loan and poultry farm loan.

“Pubali’s consumer products are much more attractive for a mid-income family living in the city,” Shahina Akter, principal officer at Shewrapara branch, told the BBN during the ongoing fair.

Pubali Bank was a first generation bank, initiated by a group of Bangali entrepreneurs during the then East Pakistan regime in 1959, to provide credit to Bangali business people who were often denied by other banks and financial institutions.

After the independence, the bank was nationalised in 1972; and again in 1983, the bank was de-nationalised.

From then, the bank has been playing significant role in socio-economic development in the country by prudent banking operations.

“Excellency in delivering services has been key to success in our banking operations,” said Sayed Abdullah Jisue, a senior officer who is serving at the bank’s head office.

BBN/MA/ANS