Banks launch special product offers before Eid
Friday, 11 September 2009
FE Report
Local and foreign private commercial banks have launched special product offers ahead of Eid-ul-Fitr, the biggest festival of the Muslims, to facilitate consumers in their shopping, officials said Wednesday.
Eastern Bank Limited (EBL) has launched a special campaign for promoting personal loans and credit cards ahead of Eid festival.
Under the offer, the bank's client can get fresh loan up to Tk 10,00,000 for a maximum of five years, said Sultan Mahmud Sarkar, marketing officer of EBL.
He told the FE that any service holder would be able to transfer their personal loans from other banks to EBL at a special reduced interest rate of 15 per cent per annum.
"Similarly, new personal loan applicants (service-holder only) will also get same attractive rates," he said.
"For credit cards, there is a great discount of 50 per cent on the issuance fee and it will come with two supplementary cards absolutely free. This offer is valid until Eid-ul-Fitr."
The EBL official said their clients could obtain loan amount ranging from minimum Tk 50,000 to maximum Tk 150,000 (or 10 times of gross monthly income, whichever is lower) under festival loan offer. The loan is repayable in 12 to 36 installments.
"We are getting very positive response from the clients," he added.
The private bank is also offering loans in different categories such as Any Purpose Loan (Jibandhaha Loan), Fast Cash, Fast Loan, Executive Loan, Travel Loan, Parseloan and Education loan.
Officials at the Standard Chartered Bangladesh said that their customers would enjoy discount on shopping at their various partner outlets throughout the month of Ramadan.
Their partner outlets include Anjans, Arabian's, Gulshan Sari, Monsoon, Mother's Care, Nil Anchal, Time Zone, Sopura Silk Mills, Cats Eye, Koncept, Mantra, Nogordola, Persona, RahimAfrooz, Sony Rangs, Singer, Artisti Collection, Sarovar, and Westecs.
"We have offered discounts at our partner outlets for all of our customers --- account holders and credit cardholders ahead of Eid-ul-Fitr as it is the biggest festival in the year," said an official of the Bank.
"Our customers will enjoy an upfront discount of up to 12 per cent by simply using their Standard Chartered Debit or Credit Card at the partner outlets for Eid shopping throughout the holy month of Ramadan."
Besides, the clients will be able to get personal loans, which are fully unsecured loan facility offered to individuals, with the amount ranges from Tk 60,000 to Tk 1,000,000, the SCB official said.
"The interest rates (including profit rate for Saadiq Personal Finance) offered for all our products are competitive and lowest in the market."
He added: "We are taking only a week to confirm the applicant whether he is getting the loan or not."
The official said the demand for personal loans is increasing in Bangladesh gradually as it is comparatively easier to get other types of loans.
Officials of other private commercial banks said although they have not offered any new offer on the occasion of Eid festival, they have re-launched their earlier introduced products, which can meet the client's demands.
Iftekhar Hasan, brand and communications manager of Hongkong and Shanghai Banking Corporation Limited (HSBC), said: "Our loan products are being promoted on this joyous season of Eid."
The bank offers personal loan up to Tk 100,000, with average time of repayment of four years (with no cash security), said Mr Hasan.
Local and foreign private commercial banks have launched special product offers ahead of Eid-ul-Fitr, the biggest festival of the Muslims, to facilitate consumers in their shopping, officials said Wednesday.
Eastern Bank Limited (EBL) has launched a special campaign for promoting personal loans and credit cards ahead of Eid festival.
Under the offer, the bank's client can get fresh loan up to Tk 10,00,000 for a maximum of five years, said Sultan Mahmud Sarkar, marketing officer of EBL.
He told the FE that any service holder would be able to transfer their personal loans from other banks to EBL at a special reduced interest rate of 15 per cent per annum.
"Similarly, new personal loan applicants (service-holder only) will also get same attractive rates," he said.
"For credit cards, there is a great discount of 50 per cent on the issuance fee and it will come with two supplementary cards absolutely free. This offer is valid until Eid-ul-Fitr."
The EBL official said their clients could obtain loan amount ranging from minimum Tk 50,000 to maximum Tk 150,000 (or 10 times of gross monthly income, whichever is lower) under festival loan offer. The loan is repayable in 12 to 36 installments.
"We are getting very positive response from the clients," he added.
The private bank is also offering loans in different categories such as Any Purpose Loan (Jibandhaha Loan), Fast Cash, Fast Loan, Executive Loan, Travel Loan, Parseloan and Education loan.
Officials at the Standard Chartered Bangladesh said that their customers would enjoy discount on shopping at their various partner outlets throughout the month of Ramadan.
Their partner outlets include Anjans, Arabian's, Gulshan Sari, Monsoon, Mother's Care, Nil Anchal, Time Zone, Sopura Silk Mills, Cats Eye, Koncept, Mantra, Nogordola, Persona, RahimAfrooz, Sony Rangs, Singer, Artisti Collection, Sarovar, and Westecs.
"We have offered discounts at our partner outlets for all of our customers --- account holders and credit cardholders ahead of Eid-ul-Fitr as it is the biggest festival in the year," said an official of the Bank.
"Our customers will enjoy an upfront discount of up to 12 per cent by simply using their Standard Chartered Debit or Credit Card at the partner outlets for Eid shopping throughout the holy month of Ramadan."
Besides, the clients will be able to get personal loans, which are fully unsecured loan facility offered to individuals, with the amount ranges from Tk 60,000 to Tk 1,000,000, the SCB official said.
"The interest rates (including profit rate for Saadiq Personal Finance) offered for all our products are competitive and lowest in the market."
He added: "We are taking only a week to confirm the applicant whether he is getting the loan or not."
The official said the demand for personal loans is increasing in Bangladesh gradually as it is comparatively easier to get other types of loans.
Officials of other private commercial banks said although they have not offered any new offer on the occasion of Eid festival, they have re-launched their earlier introduced products, which can meet the client's demands.
Iftekhar Hasan, brand and communications manager of Hongkong and Shanghai Banking Corporation Limited (HSBC), said: "Our loan products are being promoted on this joyous season of Eid."
The bank offers personal loan up to Tk 100,000, with average time of repayment of four years (with no cash security), said Mr Hasan.