Dhaka, Bangladesh (BBN) – United Commercial Bank is keeping importance at the Banking Fair Bangladesh-2015 to promote its branding by expanding virtual banking.

Under the virtual banking, the bank has recently introduced internet banking, SMS banking and online operation to settle the transaction of clients, Md Abdul Motin, sales executive of the UCBL, told the BBN during the ongoing fair.

Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday.

The UCBL has already attached with the central bank’s real-time gross settlement (RTGS) to help its clients to transfer their large amount of fund on real-time basis, Mr Motin said.

The bank is also highlighting its two SME credit products to strengthen the country’s small and medium enterprises.

The products are ‘SME Onkur’ and ‘SME Dhrubo’.

Under the SME Onkur, the clients will be allowed to take loan of maximum Tk 5 crore to expand their business.

The loan is considered as term loan.

The rate of interest of the product is 13 per cent and repayment period is 5-years.

The bank will provide working capital for the SME client with a maximum ceiling of BDT 5 crore under its SME Dhrubo’ product.

BBN/RZ/ANS