EBL launches Payroll Banking

FE Report Eastern Bank Ltd (EBL) Monday launched three new products under EBL Payroll Banking. A full service savings account, debit card only savings account and a pre-paid card solution combines the product suite of EBL Payroll Banking. EBL Managing Director & CEO Ali Reza Iftekhar launched the products at a press meet at a city hotel. Among others, EBL DMD Muklesur Rahman, Ziaul Karim, Head of Brand & Marketing, Md. Sadd Ullah, Head of Cluster-3, Nazeem A. Choudhury, Head of Cards & other senior bank officials were present at the programme. Payroll Banking is an innovative package to customise an organisation and its employees' needs. This provides companies convenience, accessibility and efficiency to pay salary and offer employees a structured staff benefits programme. The benefits include reduced loan interest rate and processing fees, free credit cards and a host of lifestyle benefits. The products under EBL Payroll Banking are: EBL Executive Account, EBL Easy Account and EBL Visa Payroll Card. The last one is the first of its kind in Bangladesh. Employees having salary of Taka 15,000 and above are entitled to open EBL Executive Account. This is a regular interest bearing savings account where employees will get debit card, cheque book and internet banking facility. In this package employees may avail EBL credit card with a full waiver of annual fee. Other benefits include waiver of account services fee; preferential interest rate on loan and waiver on internet banking subscription fee. EBL Easy account is a debit card only interest bearing savings account for staff having account range between Taka 5,000 to 15,000. This Visa Debit card can be used anywhere for purchases and to withdraw cash from ATMs. With this convenient payday solution, employees can avoid check cashing hassles and the risk of carrying around large amounts of cash.