Two competitive brand and there segment strategy.
Brand profile:
BRAC Bank Limited;
BRAC Bank Limited, with institutional shareholdings by BRAC, International Finance Corporation (IFC) and Shore cap International, has been the fastest growing Bank from 2004 to 2007. The Bank operates under a “double bottom line” agenda where profit and social responsibility go hand in hand as it strives towards a poverty-free, enlightened Bangladesh.
A fully operational Commercial Bank, BRAC Bank focuses on pursuing unexplored market niches in the Small and Medium Enterprise Business, which hitherto has remained largely untapped within the country. In the last six years of operation, the Bank has disbursed over BDT 7500 crore in loans to nearly 200,000 small and medium entrepreneurs.
The management of the Bank believes that this sector of the economy can contribute the most to the rapid generation of employment in Bangladesh. Since inception in July 2001, the Bank’s footprint has grown to 56 branches, 30 SME Service Centers, 427 SME unit offices and 112 ATM sites across the country, and the customer base has expanded to 465,000 deposit and 187,000 advance accounts till December 2008. In the years ahead BRAC Bank expects to introduce many more services and products as well as add a wider network of SME unit offices, Retail Branches and ATMs across the country.
IFIC Bank
International Finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the People’s Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions abroad. The Government held 49 per cent shares and the rest 51 per cent were held by the sponsors and general public. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. The Government of the People’s Republic of Bangladesh now holds 35% of the share capital of the Bank. Leading industrialists of the country having vast experience in the field of trade and commerce own 34% of the share capital and the rest is held by the general public.
Our Mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and competitive edge make our position unique in giving quality service to all institutions and individuals that we care for.
We are committed to the welfare and economic prosperity of the people and the community, for we drive from them our inspiration and drive for onward progress to prosperity.
We want to be the leader among banks in Bangladesh and make our indelible mark as an active partner in regional banking operating beyond the national boundary.
In an intensely competitive and complex financial and business environment, we particularly focus on growth and profitability of all concerned.
Competitive segments
| BRAC BANK | IFIC BANK |
| 1.SME banking | 2.Retail banking | 3.Corporate banking | 4.Probashy banking | 5.other | 1 Corporate Banking | 2 Retail Banking | 3 Treasury & Capital Market | 4 SME Banking | 5 Agriculture Credit |
| 1.Annono Rin
2.Opurbo Rin 3.Pathshala Rin 4.Arroggo Rin 5.Digun Rin 6.Prothoma Rin |
Loan Product
Deposit Product Card |
Corporate loan project.
Trade financing Corporate cash management a. Over Draft b. Term loan c. Lease finance d. Loan against trust e. Work order finance f. Medium Enterprise |
Account and deposit.
Investment Loan and Credits Cars |
Student Corner
SMs Banking Non stop Banking Locker Service Visa fee Collection Phone Banking Credit Card |
, Working Capital Finance | Consumer Finance
, Card |
, Money Market
, Forex Market , Brokerage House |
, Easy Commercial Loan
, Commercial House Building Loan , Trade Finance , Muldhan |
, Krishi Saronjam Rin |
BRAC Bank segments in details
| 1.SME banking | 2.Retail banking | 3.Corporate banking | 4.Probashy banking | 5.other |
| 1.Annono Rin
2.Opurbo Rin 3.Pathshala Rin 4.Arroggo Rin 5.Digun Rin 6.Prothoma Rin |
· Loan Product
· Deposit Product · Card |
· Corporate loan project.
· Trade financing · Corporate cash management a. Over Draft b. Term loan c. Lease finance d. Loan against trust e. Work order finance f. Medium Enterprise. |
· Account and deposit.
· Investment · Loan and Credits · Cars |
· Student Corner
· SMS Banking · Non stop Banking · Locker Service · Visa fee Collection · Phone Banking · Credit Card |
SME Banking
The most valuable natural resource of Bangladesh is its people. As a nation we struggled for our independence and now the attainment of economic uplift is the main goal. Micro lenders are working here in the financial field, providing very small amount and on the other hand regular commercial banks have been providing bigger amount of loans to larger industries and trading organizations. But the small and medium entrepreneurs were overlooked.
This missing middle group is the small but striving entrepreneurs, who because of lack of fund cannot pursue their financial uplift, as they have no property to provide as equity to the commercial banks. With this end in view-BRAC Bank was opened to serve these small but hard working entrepreneurs with double bottom line vision.
As a socially responsible bank, BRAC Bank wants to see the emancipation of grass-roots level to their economic height and also to make profit by serving the interest of missing middle groups. 50% of our total portfolio usually collected from urban areas, are channeled to support these entrepreneurs who in future will become the potential strength of our economy. We are the market leaders in giving loans to Small and Medium Entrepreneurs. We have been doing it for the last five years.
Anonno Rin
Anonno Rin” is a business loan designed to finance small scale trading, manufacturing and service ventures, especially to to help small and medium entrepreneurs to meet their short-term cash flow shortages and bridge the fund-flow gaps
Eligibility
· Entrepreneurs with minimum 2 years experience in the same line of business
Business must be a going- concern with more than 1 year in operation,
Pathshala Rin
Pathshala Rin” is a loan designed to meet the needs of small and medium sized private educational institutions, such as kindergartens, schools and colleges etc.
Eligibility
· The educational institution must be in operation for minimum 3 years
The educational institute must be a profit making concern,
Aroggo Rin
Aroggo” is a loan allowed to various Health service Provider like private clinics, diagnostics centers and doctors’ chambers. The product offers fixed assets purchase financing under equated Monthly Installments.
Eligibility
· Minimum 2(two) years in operation
· Health center must be located in the same address for at least 6 months
· Health center must be a profit making concern
Doctors having 5 years of experience can avail the loan in his/her personal name,
Digoon Rin
This is a double loan on your deposit. Now you do not need to encash your savings rather you can take double amount of loan on your deposit for your business expansion.
Eligibility
· Entrepreneur having minimum 2 years of business activitie
· The business which must be a going concern for 2 years
Cash security (BRAC Bank FDR) 50% of the loan amount.,
Prothoma Rin
“PROTHOMA RIN” is a loan facility for small and medium sized business, which are operated by women entrepreneur. The product offers terminating loan facilities for the purpose of working capital finance and/or fixed assets purchase.
Eligibility
· Entrepreneurs with minimum 2 years experience in the same line of business
Minimum 1(One) year of continuous business history,
Prapti Current Account
“Prapti Current Account” an interest bearing current account. This account ensures the profitable and easy transaction facilities for Businesses.
Eligibility
· Any institution can open this account in the name of the Institution
· Opening balance only BDT. 5,000 only.
Features
· Interest bearing current account
· Up to 4% interest on daily balance
· FREE Smart ATM Card with BDT-100,000 withdrawn facility (per day) from ATM & BDT- 300,000 from POS
· No upfront relationship fees
· No inter-city or intra-city online transaction charges
· No Relationship fee will be charged if half yearly average is BDT 25,000, along with free cheque book.
Cash Secured Loan
“Cash Secured Loan” is a loan facility for small and medium sized business. There are two types of loan facility in the product i.e. Secured Loan and Secured Overdraft. These facilities are fully secured by fixed deposit of BRAC Bank.
Eligibility
· 6 (Six) months experience in the same line of business.
BRAC Bank FDR minimum 100% of loan amount,
Bizness loan
Bizness loan is an equated monthly loan facility for all types of business who have healthy bank transactions for the purpose of working capital finance and/or fixed assets purchase.
Eligibility
· Healthy bank transactions
· Minimum 3 (three) years of continuous business history
· BRAC Bank FDR 50% of the loan amount for new loan and 30% of the loan amount for repeat loan
Proshar
Proshar” is a loan facility for small & medium sized manufacturing business. The product offers loan facilities for working capital finance and/or fixed assets purchase.
Eligibility
· Entrepreneur must have minimum 2 years experience in the same line of business
· Minimum 2 (Two) years of continuous business history of the enterprise
Trade Plus
Trade plus is a composite facility for small & medium sized import-oriented businesses to meet their trade finance requirements.
Eligibility
An import oriented business having valid trade license, Import registration certificate, V.A.T. Registration certificate & T.I.N. Certificate,
Features
- Two types of Letter of Credit Facilities – One Off LC and Revolving LC
- Two types of post import finance facility –LATR & Revolving loan
Super Supply Loan
Super Supply Loan is a loan facility for Suppliers of various large retailers, marketing companies, manufacturing companies and various corporate houses. This product’s main objective is to help various Suppliers to meet their financial requirements.
Eligibility
· Entrepreneur having 2 (two) year’s experience in the same line of business
· Operating the current business for last 1 (one) year
Retail Banking,
Loan Products
Salary Loan
Keep an extra 15 month’s salary in your pocket. You can get BRAC Bank Salary loan, Loan against your salary. If you are a salaried individual working in Bangladesh, Please read on. Because Salary Loan from BRAC Bank has been designed with just you in our minds.
Eligibility
· Employed as a regular salaried staff
· Have minimum age of 25 years, max – 53 years (at the time of application)
· If you earn a gross monthly salary of Tk. 10,000 *
Maximum Amount
· Anywhere between 1.5 lac to 10 lac (maximum)
Now Loan
‘You choose while we pay’!! Life is good make it better when you can enjoy BRAC Bank NoW Loan. In case you need to purchase home appliances, furniture’s, computer or other consumer durables for personal use, we offer you the most appropriate solution with our NoW loan.
Eligibility
· Letter of Introduction
· BRAC Bank account holder aged from 25 to 55
· A salaried employee with minimum monthly income of TK 10, 000
· Employed in your current organization for two years
· 3 months Bank statement (latest)
· Pay slip required if salary paid in cash
Car Loan
Why toy with your dreams when you can own one’, BRAC Bank Car Loan can stop your dreaming and Start driving Whether you want to purchase a brand new car or a reconditioned one, we have the most customer-friendly car loan scheme available for you.
Eligibility
· Both salaried executives and business persons
· Age between 21 at the time of application to 60 at the time of maturity
· Minimum monthly income BDT 25,000
· Length of service/Age of business: Minimum 2 years
Teachers’ Loan
‘Honest profession, Honest Service’. BRAC Bank Teachers’ Loan provides a wedding or a dream holiday, financing a business or surviving an emergency, Teachers Loan can be yours just within three days of application!
Eligibility
· A teacher of any reputed school or university
· Have a minimum length of service record of at least two years
· Have a minimum net salary of Tk. 5000
· Have a minimum age of 23 years
Maximum Amount
· 10 times of your gross monthly salary
· The loan amount stretches from Tk. 50,000 to Tk. 10,00,000 (maximum)
Study Loan
‘Your gateway to the world’ BRAC Bank Study Loan gives your child deserves the best education and you have planned it ahead. But worried about financing? BRAC bank has the perfect solution for your child’s future.
Eligibility
· Parent/ financial guarantor of the student pursuing higher education locally and abroad
· Earning TK 25,000 per month
· Aged between 30 to 60 years
Business Person:
· TIN
· Company and personal Bank statement (latest) 6 months
Travel Loan
‘It’s time to fly’, BRAC Bank Travel Loan opens the door for planning to take a trip abroad and worried about financing? Before you start packing your bags for vacation abroad, you have too many things to take care. Leave your money- matters to us while you pack your bags. Our fast and easy loan processing will simply add excitement to your travel plan.
Eligibility
· An individual with minimum monthly income of TK 15,000
· A salaried or a self employed person
· Aged between 25 to 53 years
Maximum Amount
· 8 to 10 times of gross salary
Credit Card Loan
When you have a credit card sky is your limit with BRAC Bank. Now, a credit card is all you need to get a loan from BRAC Bank. Loan can be used for any reason from buying consumer goods, automobile to vacation expenses. Just decide what to do and start planning for it.
Eligibility
· A one-year-old local credit card with any institution
A minimum of 12 months of satisfactory credit card relationship with any credit card issuer in Bangladesh ,
Top Up Loan
Is your loan track record playing smooth? BRAC Bank Top Up Loan is easy loan for good borrower. This unsecured loan is designed to meet various personal needs without mentioning the purpose at all. Just apply according to your requirements
Eligibility
· An existing retail borrower of a reputed financial institution with good repayment history
· A salaried or a self employed individual
· Aged between 30 to 55 years
Maximum Amount
· Taka 10 Lac
HighFlyer Loan
Enjoy life to the fullest and take benefit of the varied opportunities it offers you. BRAC Bank’s HighFlyer Loan is for airline, GSA & Travel Agency professionals is to makes your long cherished desires an absolute reality.
Eligibility
· Maximum 20 times of your net monthly salary.
· Minimum loan size is BDT 50,000, loan is available up to BDT 500,000.
Maximum Amount
· 15 times of your gross monthly income
Features
· No Security
· Fastest Processing Time
· Loan up to 5 years
· Attractive interest rate
HighFlyer Loan
Enjoy life to the fullest and take benefit of the varied opportunities it offers you. BRAC Bank’s HighFlyer Loan is for airline, GSA & Travel Agency professionals is to makes your long cherished desires an absolute reality.
Eligibility
· Maximum 20 times of your net monthly salary.
· Minimum loan size is BDT 50,000; loan is available up to BDT 500,000.
Maximum Amount
· 15 times of your gross monthly income
Features
· No Security
· Fastest Processing Time
· Loan up to 5 years
· Attractive interest rate
Doctor’s Loan
BRAC Bank introducing Doctor’s Loan, an exclusive loan facility for the Doctor’s fraternity. Now practicing Doctor’s can avail this loan very easily to meet their professional needs. So prescribe yourself a dream today. Anti-Headache solution for Doctor’s.
Eligibility
· Having M.B.B.S. with 2 years of experience
· A salaried or a self employed Doctor’s
· Aged between 25 to 55 years
Maximum Amount
· Taka 15 Lac
Features
· Loan from BDT 2 Lac to BDT 15 Lac
· No Security Required
· Loan in 48 Hours
Deposit Product
Fixed Deposit
Opening Requirements
» A Current Account or Savings Account
General Features
» A term deposit with a guaranteed monthly return on investment
» Competitive interest rates
» Early encashment flexibility
» Secured Loan and/or Secured Overdraft eligibility
Interest First Fixed Deposit
This time you don’t have to wait till maturity to receive interest on your Fixed Deposit. BRAC Bank Interest First Fixed Deposit lets you draw the interest instantly at the time of your deposit. Believe it. A deposit scheme where the client receives interest in advance.
Features
· Instant interest on fixed Deposit
· Interest reinvestment opportunity
· Attractive rate of return
· Loan facility against the IFFD
Abiram Account
Your hard earned money is paying-off immediately; BRAC Bank ‘Abiram’ Account is a special type of Fixed Deposit scheme, which offers the flexibility & comfort of having a guaranteed monthly return on your investment. With BRAC Bank ‘Abiram’ Account, you can ensure a safe & steady return on your investment.
Features
- Monthly interest on your deposit Attractive rate of return
- 95% loan against your deposit
Zee Account
‘Banking That Sets You Free’ BRAC Bank offers you EZee Account a non-cheque interest bearing account for small savers who are in frequent need of transaction. You don’t need to write a cheque or stand in a long queue to draw your own money from BRAC Bank. You can get an ATM card to operate your account round the clock.
Features
· 24 hour access to ATMs and POS
· Interest on daily balance
· No minimum balance
· No ledger fees
DPS
BRAC Bank’s Deposit Premium Scheme is a savings plan that adds value to your hard earned money.
Features
· Monthly installments can be as low as Tk. 500 or any multiples of it
· Choose any day as your installment date
· Receive a Savings a/c with a personalized cheque book
· On-line banking facilities
· You don’t need to stand in a long queue to deposit your DPS Installments. You can always deposit more than one installment in your savings account and we’ll automatically transfer the installment to your DPS account on due dates
| Monthly Installment
Amount (BDT.) |
Maturity amount after completion of all regular
installments payment* |
|||
| 4 Years | 7 Years | 11 Years | 14 Years | |
| 500.00 | 28,667.00 | 58,650.00 | 116,603.00 | 179,550.00 |
| 1000.00 | 57,334.00 | 117,300.00 | 233,207.00 | 359,101.00 |
Savings Account
A regular savings account offering you interests on your deposit amount.
Features (Conditions Apply)
· 8 transactions
· Cash withdrawal and deposit of 5 lac and above need clarification
· No forfeiture rules or hidden costs
· No requirement for notices to be given before making a withdrawal
· Use our network of ATMs for easy cash withdrawal
· Get mini balance statements from our ATM whenever you need
· Interest rate of 5.5% on average monthly balance
How to open a Savings Account
· Primary Account opening balance – 15,000 BDT a
· No minimum balance required
· Photocopy of your valid passport
· 3 copies of your recent photograph
· Valid photocopy of you ID Card/Driving License
· Photocopy of your Trade License
· Nominee’s Photograph
Short Term Deposit
A deposit scheme to give returns on your savings.
Features
· Minimum balance required is Tk. 100,000
· Interest paid twice a year but calculated monthly if balance is Tk. 100,000 or above
· Secured returns.
Savings Account
A regular savings account offering you interests on your deposit amount.
Features (Conditions Apply)
· 8 transactions
· Cash withdrawal and deposit of 5 lak and above need clarification
· No forfeiture rules or hidden costs
· No requirement for notices to be given before making a withdrawal
· Use our network of ATMs for easy cash withdrawal
· Get mini balance statements from our ATM whenever you need
· Interest rate of 5.5% on average monthly balance
How to open a Savings Account
· Primary Account opening balance – 15,000 BDT
· No minimum balance required
· Photocopy of your valid passport
· 3 copies of your recent photograph
· Valid photocopy of you ID Card/Driving License
· Photocopy of your Trade License
· Nominee’s Photograph
Current Account
BRAC Bank’s Current Account is a normal checking account, giving you the option to deposit and withdraw money for your day-to-day needs.
Features
· ATM card for easy cash withdrawal
· Withdraw money from all our ATMS
· Deposit cheques at any of our branches and get the fund transferred to your account immediately
· Use online banking facility for free
· Easy access to our other facilities
Salary Account
BRAC Bank Salary Account is a payroll account for Employers and Employees. As an organization, you can opt for our Salary Account to enable easy disbursements of salary & enjoy numerous other benefits.
Eligibility
The organization needs to have a minimum of 10 employees and a payout of Tk. 1 lac per month and an average salary per employee of Tk. 10,000 per month.
Zero Balance
There is no minimum balance required to open Salary Account. Your employees can open Salary Account with zero balance
Non-Checking Account
Salary Account does not have a cheque book. Hence, your employees don’t need to worry about any fraud. It ensures complete peace of mind.
ATM Debit Card
Your employees will be provided with ATM Debit Cards to allow them to access to 24 hour banking. These ATM Debit Cards can also be used for retail purchases at various stores all around the country.
Saving Interest
The account also accrues interest on deposits. No minimum balance is required to earn interest on the account.
All an employer would require to do is to send BRAC Bank an advice (in the form of a cheque/debit instruction etc) for the total salary amount along with the salary details of the designated employees in a soft and hard copy format and we will credit the respective employees’ accounts as per your statement of advice.
Corporate Banking
Corporate Loan Products
Overdraft
This is an on-demand credit facility designed to meet day-to-day operational activities of the business, including purchase of raw materials and expenses.
Term Loan
Short Term Loan/ Revolving Loan:
This scheme is to meet different short-term fund requirements of the client. Payment of duty, Tax, VAT and other expenses related to the release of goods from customs through pay orders in the name of customs authority or Bangladesh Bank cheque is payable through this scheme.
Lease Finance
One of the more convenient long-term sources of acquiring capital machinery and equipment. The client is given an opportunity to have exclusive rights to use an asset, for an agreed period of time, against payment of rent.
Loan Against Trust Receipt (LATR)
This is an advancement against a Trust Receipt provided to the client when the documents covering an import shipment are given without payment. Under this system, the client will hold the goods of their sale proceeds in trust for the bank, until the loan allowed against the Trust Receipt is fully paid.
Work Order Finance
BRAC Bank provides Work Order finance facility for its valued clients. Through this arrangement, clients can avail loan facilities against valid Work Orders up to a certain proportion.
Medium Enterprise
Medium Enterprise Unit
The products offered under this sort of financing are versatile in nature and each product is tailored according to the need of the borrower, under certain parameters. The range of organizations this sort of financing caters to include proprietorship concerns, private limited companies, educational institutions as well as NGOs.
The purpose of this unit is to serve medium enterprises having facility requirements like a large corporate in nature, but smaller in volumes. The facilities may range from a single-funded or non-funded limit to a composite credit facility that include various corporate products. We believe that the emerging medium enterprise of today is tomorrows large corporate that will facilitate the true growth of our nation.
Letter of Credit (LC)/ Letter of Guarantee (LG)
Letter of Credit (LC):
This facility is related to import or local purchase of different items. It is also provided for the import and export of goods (such as raw materials, machinery, equipment, any trading item).
Letter of Guarantee (LG):
To meet different contractual requirement such as participating in Bid, Performance Guarantee and Advance Payment guarantee for different contractual requirements.
BRAC Bank will collect your bills through our Bills Pay Machines in the strategic locations of the city and also at the correspondent branches, where the BRAC Bank branches are not available and at the booths
Advantages to Employers
Salary Upload
Salary upload through a single cheque.
All you have to do is give consolidated cheque of the total salary amount to BRAC Bank and a break-up of the disbursements to the employees in soft and hard copy format.
Multi-Location Salary
Multi-Location Salary Disbursal is possible within BRAC Bank Network:
With BRAC Bank, salaries of all employees located across Bangladesh can be uploaded from a single point upload.
Affordability
Have you ever thought about how much time you spend managing payroll? This equates to time taken away from revenue-producing activities. Outsourcing with the right payroll service provider will save your time and money.
Accuracy
Even with the simplest of payrolls, it’s easy to make mistakes. Without current and on-going training in payroll compliance, your company could face unhappy employees to boot.
Privacy
It can be embarrassing and detrimental if the wrong eyes fall on the salary cheques. Confidentiality is much easier to maintain when payroll is outsourced.
MIS
Payroll companies offer a wide array of standard reports along with these invaluable reports which are neat and concise.
Professionalism
what better way to show your employees that your company is professional and secure? By outsourcing your payroll coupled with all benefits of BRAC Bank savings accounts will enhance your successful image and will make employees happy.
PTS
PTS will allow you to disburse all kinds of payments anywhere in the country through our own branch network in Dhaka, Chittagong, Sylhet, Savar, Feni and the partner bank branches all over the country.
Advantages to Employees
Employees automatically become BRAC Bank Salary Account Holders with special benefits and privileges and receive instant salary credit. Here are some of the features of BRAC Bank Salary Account
24 Hour banking
Our ever expanding ATMs are now available 24 hours a day and seven days a week. Choose your own time to bank and you don’t have to stand in a queue.
Online banking
No need to visit the branch where you initially opened your account. Walk into any branch in the country and enjoy the benefits of a fully online banking facility.
Extended Banking Hours
Most of our branches feature non-stop banking till 8:00 p.m. every day except for Thursdays and Fridays. Employers and employees can avail this facility at their convenience and leisure.
PayDay Overdraft
Employees can get an emergency overdraft facility on request, based on their take-home salary. This would be adjusted in their following salary credit.
Salary Loan
Salary Account holders can get BRAC Salary Loan up to a maximum of 15 times of their gross monthly income. Salary Loan can be repaid in equal monthly installments from 12 months to 60 months.
Personal Loan
As a special offering, our Salary Account customers would be peovided with personal loans such as:
Car loan
Credit Card Loan
Student Loan
NoW Loan ( Life Style Loan)
Travel Loan etc.
Bureau De Change
Your employees can meet all their foreign currency needs, buy foreign currency in cash and internationally valid Travelers’ Cheques issued by the world famous American Express Co. Ltd.
When others might dress up their banking with worthless extras to justify a fee, we believe that banking delivered well is what you should expect and what we should deliver. We don’t charge a minimum balance fee or cheque book issuing fee; we do hope that if we do our service right you will want to do more business with us.
We can’t promise always to have the best interest rates but we can promise to have sustainable good pricing stated clearly and without any hidden “charges”.
Who knows what the future might hold? Our approach is to be ready when we have services that might be of interest to you.
Apart from usual transactional and fixed Term Deposit Accounts, take a look at what being part of the fastest growing bank in Bangladesh can provide to your company.
Cash Management Services
BRAC Bank’s national Collection Services (NCS) is designed to assist corporate with nation wide collection requirements by providing faster funds availability in a cost- effective manner.
Cash Collection Services:
Through our Cash Collection Services we collect cash directly from your offices/business premises. The whole process is arranged with executive logistic services.
Drop Box Facility:
On request, we can install Drop Box at your office which can be used for depositing cheques or any instruction. Our representative will visit your office and clear the box every day.
Probashi Banking
Probashi Shubidha Fixed Diposit
Segments of IFIC
| 1 Corporate Banking | 2 Retail Banking | 3 Treasury & Capital Market | 4 SME Banking | 5 Agriculture Credit |
| , Working Capital Finance | Consumer Finance
, Card |
, Money Market
, Forex Market , Brokerage House |
, Easy Commercial Loan
, Commercial House Building Loan , Trade Finance , Muldhan |
, Krishi Saronjam Rin |
- Corporate Banking
IFIC Bank is providing a wide range of financial services, offering specialist advice and products to corporate clients to meet diverse demands of changing market scenario. We have expertise to customize products & services to meet specific requirements of our clients. We are committed to serve our customer with extensive branch net work all over the country to expedite our client’s business growth. We facilitate your business to face the challenges and realize opportunities, now and in the future. Our main focus is relationship based banking and understanding corporate & institutional business environments.
Our experienced Relationship Managers & their team can respond to and anticipate your needs and give you competitive business advantages. Products and services for commercial and business customers include: Working Capital Finance, Project Finance, Term Finance, Trade Finance, Lease Finance, Syndication Loan etc.
- Working Capital Finance
Business Enterprises engaged in manufacturing/ trading/ service business are eligible to avail Working Capital Loan to meet day to day expenses for processing of manufacturing and selling product & services. Working capital products include both fund and non-fund based products. Fund-based working capital products include secured over draft, cash credit, packing credit, short-term loans payable on demand bank guarantees. Non-fund based products include bank guarantee; performance guarantees and bid bonds are also supporting the business of our customers.
- Project Finance
IFIC Bank provides project loan to set up /BMRE of long-term infrastructure and industrial projects/ service unit on the basis of debt and equity rather than the balance sheets of project sponsors. Project financing have been recognized as an important and crucial mode of finance for a financial institution for substantial growth of its industrial credit vis-à-vis managing long term finance. Growth of project finance/Industrial credit of a developing country like Bangladesh is considered as a key parameter for transforming her dream into a mid income country group.
Hence, apart from trade and commercial finance; IFIC Bank Ltd. from the very beginning has been an active partner of the private sector in developing large and medium scale industry of the country. The Bank has been financing Term Loan (Industrial) facility for establishing new project and/or BMRE of various projects in the sectors viz. textile, garments, power, steel, telecom, pharmaceuticals, packaging, consumer products, health, CNG refueling, Real estate
- Term Finance
We are offering short term & mid term finance to you to meet emergency financial needs of our project/business.
- Trade Finance
Import
01. Letter of Credit
Business Enterprises can avail Non-funded facility for import / procurement of raw materials, machinery, equipment, merchandise item.
02., Loan against Imported Merchandize (LIM)
Business Enterprises engaged in import merchandise can avail working capital for retirement of import documents.
03., Loan against Trust Receipt
Business Enterprises engaged in import of merchandise can avail working capital for retirement of import documents.
Export
01. Pre-shipment finance
Back to Back L/C, EDF, ECC, SOD (Working Capital Finance), Packing Credit.
02., Post-shipment finance
Foreign Documentary Bills Purchase, Inward Documentary Bill Purchase.
- Lease Financing
Lease financing became a thrust sector for individual and small enterprise besides medium and large enterprises. IFIC Bank has been providing lease finance facility to its customer for acquisition of manufacturing and service equipments for all major industrial sectors. The facility helps the customer to have better financial flexibility under budgetary constraints and to enjoy tax benefit. IFIC offers financing vehicles/ CNG conversion/ refueling plant/ sea or river transport, capital machinery/ plat/ equipment/ lift / generator/ boiler, construction equipment/ computer for IT education center, medical equipment etc.
- Syndication Finance
IFIC Bank along with other commercial banks has been financing large scale projects under syndication arrangement to raise and meet huge credit need of a company. This arrangement allows the Banks to share expertise among them and diversify its credit risks. To cater the need of leading corporate house IFIC Bank has been raising fund from the banking sector on behalf of the customer through syndication arrangement.
- Retail Banking
A. Consumer finance
Retail Banking is mass- banking facility for individual customers to avail banking services directly from our wide branch net work all over the country. We provide one-stop financial services to all individual customers through our innovative products & services to cater their need. With a view to provide faster and more convenient centralized online banking services, most of our branches have been brought under the real time online banking system.
IFIC Bank offers a wide variety of deposit products, loan product & value added services to suit your banking requirements. Products and services for individual customer include: Consumer Finance, Deposit Product, Card, NRB Account, Student File, SMS Banking etc.
1. IFIC Easy Loan
Our Easy Loan is to serve your any personal financial needs. The loan is absolutely hassle free & paid against financial securities.
Eligibility
Adult person having an account with us then easily apply for the IFIC Easy Loan.
Loan Size
- , Maximum 95% of the face value of FDR.
- , Maximum 100% * of the MIS amount.
- , Maximum 100% of the principal amount of PSS.
- , Maximum 90% of ICB Unit Certificate.
Repayment Tenure
, 12 to 36 months.
Shortest possible processing & least formalities
2. Consumer Durable Loan
IFIC creates an opportunity to satisfy customers’ desire to purchase consumer durables like – computer, television, refrigerator, washing machine, air conditioner, music systems, motor cycle and a lot of other things by Consumer Durable Loan.
IFIC Bank is providing maximum 1.00 lac taka to be repayable in by 12 to 36 monthly installments.
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3. Parua (Education Loan)
IFIC Bank offers Education Loan that can make a student’s dream comes true. IFIC Bank firmly believes that expense for education is an investment for future. Only education can fulfill the dreams of an individual as well as a nation. IFIC Bank is providing maximum Tk. 8.00 lac to be repayable in 12 to 48 monthly Installments.
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4. Thikana (Home Loan)
Home is an address, a shelter for entire life, and this is what one leaves behind for the family. A house is the single biggest investment that you will make in your lifetime. To own a home from savings takes a long time and full payment at a time is difficult too. Don’t wait your entire life saving. Trust us, take a Home loan from IFIC and realize your dreams now.
IFIC Bank is providing maximum Tk.75.00 lac to be repayable in 12 to 180 monthly installment.
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5. Any Purpose Loan
If you’re looking for a personal loan to meet any financial requirement that’s easy to get, your search ends with us. IFIC Any Purpose Loan caters to various needs of salaried people. With minimum formalities you can get a loan for an amount upto Tk.3.00 lac to be repayable at 12 to 36 monthly installments. The loans are easy & absolutely hassle free.
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