Retail Banking Services

Retail Banking Services

AB Bank Retail Banking Services:

  1. Deposit Products
1.       Product Name AB Bank Maximum Saver
Type Savings account with maximum returns
Features Ø  Account will be limited for only individual.

Ø  Initial deposit of minimum Tk. 50,000.00.

Ø  No restriction on the number of transaction.

Ø  No interest forfeiting rules.

Ø  Free SMS banking & internet banking.

Ø  Interest will be calculated on daily balance and will be applied quarterly.

Ø  ATM transaction limit max Tk. 80,000.00 per day.

AB Bank Rates Balance Rates
Less than Tk. 50,000.00
Tk. 50,000.00 to less than Tk. 5,00,000.00
Tk. 5,00,000.00 to less than Tk. 15,00,000.00
Tk. 15,00,000.00 to less than Tk. 30,00,000.00
Tk. 30,00,000.00 to less than Tk. 50,00,000.00
Tk. 50,00,000.00 & above
0.00%
5.00%
6.00%
7.00%
8.00%
9.00%
Additional facilities of AB Bank Customer will be privileged by following facilities upon maintaining average balance of 50,000.00 and above:

ü  Free cheque book.

ü  Free Debit card.

ü  No ledger fee.

2.       Product Name Deposit Double Scheme (DDS)
Features §  Special type of Fixed deposit account.

§  Make money double within 6 years.

§  Minimum deposit amount is Tk.50,000 to maximum deposit of Tk.50,00,000.

§  Loan facility can be availed up to 80% of the deposited amount.

 

3.       Product Name Monthly Savings Deposit Scheme (MSDS)
Features       Monthly installment based savings scheme of AB Bank Limited.

A person can contribute monthly installments Tk.500 or it’s multiple(Tk.100* for branches outside municipal area)

Account can be opened for 3, 5, 7 or 10 years.

Rate of Returns
Amount 3 years 5 years 7 years
100 4,281 8,025 11,442 21,897
500 21,409 40,128 57,210 109,488
1000 42,819 80,255 114,421 218,976
1500 64,228 120,383 171,631 328,465
2000 85,638 160,511 228,842 437,953
2500 107,047 200,639 286,052 547,441
 

 

 

4.       Product Name Monthly Income Deposit (MIDS)
Features v  Fixed deposit scheme with monthly returns.

v  Mminimum deposit is Tk. 100,000.00 with the maximum amount being Tk 50,00,000 either in a single/joint name.

v  Account can be opened for 1, 3 or 5 years.

Rate of Returns
Amount 1 year tenor 3 years tenor
100,000 850 916 1,000
200,000 1,700 1,832 2,000
300,000 2,550 2,748 3,000
400,000 3,400 3,664 4,000
500,000 4,250 4,580 5,000

 

  1. Personal Banking Loan Products
1.       Product Name                 Personal Loan
Purpose Personal Loan may be availed for purchase of household items, marriage, House/Office Renovation etc.
Loan Limit Minimum Tk. 50,000/-

Maximum Tk. 10,00,000/- (without collateral)

30% of the value of the quotation

Charges Application fee: Tk. 500/-
Processing fee: 1.5% on the approved loan amount
Tenor    Min: 12 Months

Max: 60 Months

Rate of Interest 18.00% p.a-21.00% p.a (to be determined by ALCO from time to time)
Security Hypothecation of the product to be purchased.
Guarantee Spouse/parent guarantee

One personal guarantee.

 

2.       Product Name                                 Auto Loan
Purpose Purchase of Brand new cars

Purchase of Re-conditioned cars

Loan Limit 30% of the value for brand new car or reconditioned car but not exceeding BDT 20,00,000/-
Charges Application fee: Tk. 500/-
Processing fee: 1.5% on the approved loan amount.
Tenor    Brand New: 12-72 Months
Reconditioned car: 12-60 Months
Rate of Interest 16.00%-19.00% p.a (to be determined by ALCO from time to time)
Security Registration of the vehicle in the name of the bank on account of the client- Hire Purchase Mode.
Guarantee Personal guarantee of spouse/parents only.

 

3.       Product Name                 Education Loan (disbursed to parents/guardian)
Purpose To assist parents/guardians for Admission/Education fees, semester fees, study abroad for their children/wards.
Loan Limit Minimum Tk. 50,000/-

Maximum Tk. 10,00,000/- (without collateral)

30% of the value of the total cost

Charges Application fee: Tk. 500/-
Processing fee: 1.5% on the approved loan amount.
Tenor Min: 12 Months

Max: 60 Months

Rate of Interest 18.00% p.a – 21.00% p.a (to be determined by ALCO from time to time)
Guarantee Personal guarantee of spouse/parents only.

 

4.Product Name                 Education Loan (for executive)
Purpose To assist executives pursue Higher studies/professional qualification at local/overseas institutions.
Minimum Tk. 50,000/-

Maximum Tk. 10,00,000/- (without collateral)

30% of the value of the total cost

Charges Application fee: Tk. 500/-
Processing fee: 1.5% on the approved loan amount.
Tenor Min: 12 Months

Max: 60 Months

Rate of Interest 18.00% p.a – 21.00% p.a (to be determined by ALCO from time to time)
Guarantee Personal guarantee of spouse/parents only.

.

5.Product Name                 Home Loan
Purpose Purchase of apartment/house within the Municipal areas of town/cities in Bangladesh.

Purchase of Flat/Apartment/independent house not more than 15 years old.

Completion of construction of a new house.

Loan takeover facility of Home Loan from other banks at a preferential rate

Loan Limit Min: BDT 500,000/-

Max: 70%of the value of the flat or construction cost for completion but not more than Tk. 1,00,00,000/-

Charges Application fee: Tk. 500/-
Processing fee: 1.5% on the approved loan amount.
Tenor Min: 3 years

Max: 15 years

Rate of Interest 15.00% p.a – 18.00% p.a (to be determined by ALCO from time to time)
Guarantee Personal guarantee of spouse/Legal heir only.
Insurance Coverage Property insurance for Earthquake and Fire.
Security Registered mortgage of property along with   registered IGPA to sell the property

 

  1. Secure Loan
1.Product Name                 Personal Overdraft-Secured
Purpose To meet personal requirement of fund
Loan Limit Maximum 80% of the security
Charges Processing fee: 0.5% subject to Min Tk. 2,000 and Max Tk. 10,000
Processing fee: N/A
Tenor Revolving with annual review
Rate of Interest For ABBL FDR: 15.00% p.a-18.00% p.a

Other Bank’s FDR, WDB: 15.25% p.a – 18.25% p.a

(To be determined by ALCO from time to time.)

Guarantee One personal guarantee in case of third party cash collateral.
Insurance Coverage N/A
Security Lien over FDR, ICB Unit certificate, RFCD, NFCD, CD account(s) etc.

 

 

2.Product Name                 Personal Loan
Purpose To meet personal requirement of fund
Loan Limit Maximum 80% of the security
Charges Processing fee: 0.5% subject to Min Tk. 2,000 and Max Tk. 10,000
Processing fee: N/A
Tenor Min: 12 months

Max: 36 months

Rate of Interest For ABBL FDR: 15.00% p.a-18.00% p.a

Other Bank’s FDR, WDB: 15.25% p.a – 18.25% p.a

(To be determined by ALCO from time to time.)

Guarantee One personal guarantee in case of third party cash collateral.
Insurance Coverage N/A
Security Lien over FDR, ICB Unit certificate, RFCD, NFCD, CD account(s) etc.

 

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