City Bank launches 3 savings products
Friday, 7 December 2007
FE Report
The City Bank Limited has launched three new attractive saving products -- City Onayash, City Projonmo and City Ichchapuron -- for its customers.
"The new products will add great value to our retail banking," said Kazi Mahmood Sattar Managing Director and Chief Executive Officer (CEO) of the City Bank Ltd. while launching the products at a press conference at a city hotel Thursday.
City Onayash is a special savings account that calculates interest on daily balance and pays out interest monthly, he said adding that City Projonmo is a monthly savings scheme for a five-year, ten-year, 15-year and 20-year terms for children, which is backed by a full insurance coverage. In the event of death of guardian, the child can even get up to Tk. 5.9 million under this scheme. For this scheme, guardians have to deposit an amount ranging from Tk 1000 to Tk 10,000 monthly.
City Ichchapuron is a unique fixed deposit account that pays out interest every month and it offers the solution to maintenance of monthly family expenses.
This service will now be available at the City Bank's 83 branches from December 6.
Deputy Managing Director (DMD-Operations) Raihan Ul Ameen, Head of retail banking Mashrur Arefin and divisional heads of the bank were also present at the ceremony.
The City Bank Limited has launched three new attractive saving products -- City Onayash, City Projonmo and City Ichchapuron -- for its customers.
"The new products will add great value to our retail banking," said Kazi Mahmood Sattar Managing Director and Chief Executive Officer (CEO) of the City Bank Ltd. while launching the products at a press conference at a city hotel Thursday.
City Onayash is a special savings account that calculates interest on daily balance and pays out interest monthly, he said adding that City Projonmo is a monthly savings scheme for a five-year, ten-year, 15-year and 20-year terms for children, which is backed by a full insurance coverage. In the event of death of guardian, the child can even get up to Tk. 5.9 million under this scheme. For this scheme, guardians have to deposit an amount ranging from Tk 1000 to Tk 10,000 monthly.
City Ichchapuron is a unique fixed deposit account that pays out interest every month and it offers the solution to maintenance of monthly family expenses.
This service will now be available at the City Bank's 83 branches from December 6.
Deputy Managing Director (DMD-Operations) Raihan Ul Ameen, Head of retail banking Mashrur Arefin and divisional heads of the bank were also present at the ceremony.