Eastern Bank launches new product
Monday, 12 November 2007
FE Report
The Eastern Bank Ltd (EBL) launched a new Small and Medium and Enterprise (SME) deposit product Sunday styled "EBL Shubidha" which would pay interest on daily basis.
The EBL organised a press conference at a city hotel to mark the launching event of the new savings product.
EBL officials said that it has taken the initiative to launch the deposit product for the SMEs to ensure easy access of the clients to the services of the Bank.
They also said the SME business entrepreneurs shall be able to do their day to day business transactions through this business account.
They further added that this is a 'Short-Term-Deposit Account' linked with a Current Account that gives interest on daily basis on the deposit.
Head of SME Mukleshur Rahman said that the minimum amount for opening this account has been fixed at Tk 100,000.
He also said minimum deposit requirement for interest earning is Tk 100,000.
He also said this is a daily interest bearing and half-yearly interest paying account.
The bank will provide a monthly statement for the current account and half-yearly statement for the Shubidha Account free of cost.
It will not have any ledger fee if the Shubidha Account average balance is Tk 100,000 or more.
But in case of amount less than that, a semi-annual ledger fee of Tk 300 will be applicable.
24-hour money withdrawal facility at any VISA ATM's (for proprietorship account) will also be provided to the account holders.
There will be no intercity transaction fee up to Tk 10,00,000.
Besides, internet banking facility will be provided for the product.
Furthermore, evening banking facility at selected EBL branches will allow customers to deposit and withdraw money from 6 p.m. to 8 p.m. at these branches.
Any legitimate business entity - sole proprietorship, partnership or private limited company, with valid trade license and other documents as per Bangladesh Bank requirements, can open the EBL Shubidha.
EBL Managing Director and Chief Executive Officer Ali Reza Iftekhar, Head of Business Development Md Zahid Hossain, Head of Marketing Nazeem A Choudhury and other senior officials were present at the launching event.
The Eastern Bank Ltd (EBL) launched a new Small and Medium and Enterprise (SME) deposit product Sunday styled "EBL Shubidha" which would pay interest on daily basis.
The EBL organised a press conference at a city hotel to mark the launching event of the new savings product.
EBL officials said that it has taken the initiative to launch the deposit product for the SMEs to ensure easy access of the clients to the services of the Bank.
They also said the SME business entrepreneurs shall be able to do their day to day business transactions through this business account.
They further added that this is a 'Short-Term-Deposit Account' linked with a Current Account that gives interest on daily basis on the deposit.
Head of SME Mukleshur Rahman said that the minimum amount for opening this account has been fixed at Tk 100,000.
He also said minimum deposit requirement for interest earning is Tk 100,000.
He also said this is a daily interest bearing and half-yearly interest paying account.
The bank will provide a monthly statement for the current account and half-yearly statement for the Shubidha Account free of cost.
It will not have any ledger fee if the Shubidha Account average balance is Tk 100,000 or more.
But in case of amount less than that, a semi-annual ledger fee of Tk 300 will be applicable.
24-hour money withdrawal facility at any VISA ATM's (for proprietorship account) will also be provided to the account holders.
There will be no intercity transaction fee up to Tk 10,00,000.
Besides, internet banking facility will be provided for the product.
Furthermore, evening banking facility at selected EBL branches will allow customers to deposit and withdraw money from 6 p.m. to 8 p.m. at these branches.
Any legitimate business entity - sole proprietorship, partnership or private limited company, with valid trade license and other documents as per Bangladesh Bank requirements, can open the EBL Shubidha.
EBL Managing Director and Chief Executive Officer Ali Reza Iftekhar, Head of Business Development Md Zahid Hossain, Head of Marketing Nazeem A Choudhury and other senior officials were present at the launching event.