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.