Jamuna Bank PLC : An Overview

Introduction Jamuna Bank Ltd, established in 2001, is a prominent commercial bank in Bangladesh. It operates under the regulations of the Bangladesh Bank, the country’s central bank. Over the years, Jamuna Bank has grown to become one of the leading private sector banks in Bangladesh, known for its customer-centric services, innovative banking solutions, and a strong commitment to corporate social responsibility.

History and Founding Jamuna Bank was incorporated on June 3, 2001, as a public limited company under the Companies Act 1994. It officially commenced operations on April 3, 2001. The bank was founded by a group of experienced bankers and entrepreneurs who envisioned creating a financial institution that would offer modern banking services to the people of Bangladesh while contributing to the economic development of the country.

Jamuna Bank PLC

Vision and Mission The vision of Jamuna Bank Ltd is to become a leading banking institution in Bangladesh, providing efficient and innovative banking services with a strong focus on customer satisfaction and corporate social responsibility. The mission of the bank is to offer a wide range of financial products and services to individuals, businesses, and institutions, helping them achieve their financial goals while promoting economic growth and development.

Core Values Jamuna Bank Ltd is guided by a set of core values that reflect its commitment to ethical banking practices, customer service excellence, and social responsibility. These values include integrity, transparency, professionalism, innovation, and a customer-first approach. The bank strives to build long-term relationships with its customers by providing reliable and efficient banking services.

Jamuna Bank Branch Operating Hours
Jamuna Bank branches have the following operating hours:
Sunday to Thursday: 10:00 AM to 6:00 PM
Friday and Saturday: Closed

Services of Jamuna Bank PLC

Services of Jamuna Bank PLC offers a wide range of banking services designed to meet the needs of individuals, businesses, and institutions. Here’s an overview of the key services provided by the bank:

Personal Banking Services
Savings Accounts:

Various savings account options with competitive interest rates and features such as ATM/debit cards, internet banking, and mobile banking.

Current Accounts:

Ideal for day-to-day transactions, offering easy access to funds with cheque books, online banking, and more.

Fixed Deposits (FDR):

Secure your savings with fixed deposit accounts offering higher interest rates for different tenures.

Personal Loans:

Loans for personal needs such as education, home renovation, medical expenses, etc., with flexible repayment options.

Home Loans:

Financing for purchasing, constructing, or renovating a home with competitive interest rates and flexible repayment terms.

Car Loans:

Finance your vehicle purchase with attractive interest rates and convenient repayment plans.

Credit Cards:

A range of credit cards with various benefits such as rewards programs, travel insurance, and more.

Remittance Services:

Fast and secure international money transfer services for sending and receiving money globally.
Corporate Banking Services

Corporate Loans:

Tailored financing solutions for businesses, including term loans, working capital financing, project financing, and more.
Trade Finance:

Services to facilitate international trade, including letters of credit (LC), bank guarantees, and export/import financing.

Cash Management:

Efficient cash management solutions to optimize business liquidity and streamline transactions.

Foreign Exchange:

Currency exchange services for international transactions, including forward contracts and currency swaps.
SME Banking:

Specialized services for small and medium enterprises (SMEs), including SME loans, advisory services, and support for business growth.

Islamic Banking Services

Mudaraba Savings Accounts:

Shariah-compliant savings accounts based on the Mudaraba principle, offering profit-sharing instead of interest.

Murabaha Financing:

Islamic financing for purchasing goods, where the bank buys and resells the item to the customer at a profit margin.

Ijara Leasing:

Islamic leasing options for vehicles, equipment, and property based on the Ijara principle.

Bai-Muajjal:

A Shariah-compliant credit facility where the bank sells goods to the client on a deferred payment basis.

Digital Banking Services
Internet Banking:

Access your accounts online, perform transactions, pay bills, and manage your finances from anywhere, anytime.

Mobile Banking:

Bank on the go with Jamuna Bank’s mobile banking app, offering a range of services including fund transfers, bill payments, and account management.

SMS Banking:

Get account alerts, balance inquiries, and mini-statements via SMS, keeping you informed of your account activity.

ATMs:

A wide network of ATMs across the country providing 24/7 access to cash withdrawals, balance inquiries, and more.

Specialized Services
Locker Services:

Secure storage solutions for your valuables in bank-provided lockers at select branches.

Foreign Remittance:

Specialized services for expatriates to send money back home securely and efficiently.

Agriculture Loans:

Loans designed to support farmers and the agricultural sector, offering low-interest rates and flexible terms.

School Banking:

Accounts and savings schemes designed for students, encouraging savings habits from an early age.

Pension Schemes:

Long-term savings plans designed to provide financial security during retirement.
Jamuna Bank PLC continually evolves its service offerings to meet the changing needs of its customers, focusing on providing convenient, reliable, and innovative banking solutions.

Loan interest rates?

The interest rates for loans at Jamuna Bank Ltd can vary based on the type of loan, the borrower’s profile, and other factors. Here’s an overview of typical loan interest rates offered by Jamuna Bank:

Personal Loans: The interest rate for personal loans typically ranges from 9% to 12% per annum, depending on the borrower’s creditworthiness and the loan amount.

Home Loans: Interest rates for home loans generally fall between 8% to 10% per annum. These rates can vary based on factors such as loan tenure and the loan-to-value ratio.

Car Loans: For car loans, the interest rates are usually in the range of 10% to 12% per annum. The exact rate can depend on the type of vehicle and the applicant’s financial profile.

SME Loans: Small and Medium Enterprises (SME) loans may have interest rates ranging from 9% to 14% per annum. These rates can differ based on the type of business, loan amount, and repayment capacity.

Corporate Loans: Corporate loan interest rates are generally negotiated based on the size of the loan, the financial health of the company, and the terms of the agreement. These rates can vary widely.

Agriculture Loans: The interest rates for agricultural loans are often lower, typically around 8% to 10% per annum, as part of the bank’s commitment to support the agricultural sector.

These rates are indicative and may change based on market conditions and the bank’s policies. It is recommended to directly contact Jamuna Bank Ltd or visit their official website for the most current and specific interest rates for different loan products.

Deposit interest rates:

The interest rates on deposits at Jamuna Bank Ltd vary based on the type of deposit account, the deposit amount, and the tenure. Here’s an overview of the typical interest rates for different deposit products:

1. Savings Accounts:
   • The interest rate on savings accounts generally ranges from 3% to 5% per annum. The rate may vary based on the account balance and any special features of the account.
2. Fixed Deposits (FDR):
   • The interest rates for Fixed Deposit Receipts (FDR) typically range from 6% to 8% per annum.
   • The rate depends on the tenure of the deposit, with longer-term deposits often offering higher interest rates.
   • Typical tenures are 3 months, 6 months, 1 year, and more.
3. Short Notice Deposit (SND):
   • The interest rate for Short Notice Deposits usually ranges from 3.5% to 5% per annum, depending on the amount deposited and the notice period.
4. Monthly Income Scheme (MIS):
   • Under the Monthly Income Scheme, the interest rate typically ranges from 6.5% to 8% per annum, paid monthly. This scheme is designed for individuals looking to receive a steady monthly income from their deposit.
5. Double Benefit Scheme (DBS):
   • This scheme offers a fixed interest rate where the deposited amount doubles after a certain period, typically 6 to 9 years. The effective interest rate usually hovers around 7% to 8% per annum.
6. Special Deposit Schemes:
   • Jamuna Bank also offers various special deposit schemes with varying interest rates. These can include pension schemes, educational savings plans, and more, with rates typically ranging from 5% to 8% per annum.

These rates are indicative and can change based on the bank’s policies and market conditions. It’s advisable to check directly with Jamuna Bank Ltd or visit their official website for the most current and specific deposit interest rates.

The SWIFT code for Jamuna Bank Ltd is JAMUBDDH.

This code is used for international money transfers and other secure messages between financial institutions. Each part of the SWIFT code identifies specific details about the bank:

JAMU: Bank code for Jamuna Bank Ltd.
BD: Country code for Bangladesh.
DH: Location code (usually represents the main office or headquarters).
For international transactions, it’s important to use the correct SWIFT code to ensure that the funds are transferred to the right bank.

Dhaka Division

1. Motijheel Branch
   • Location: Motijheel, Dhaka
2. Gulshan Branch
   • Location: Gulshan, Dhaka
3. Banani Branch
   • Location: Banani, Dhaka
4. Dhanmondi Branch
   • Location: Dhanmondi, Dhaka
5. Uttara Branch
   • Location: Uttara, Dhaka
6. Savar Branch
   • Location: Savar, Dhaka
7. Narayanganj Branch
   • Location: Narayanganj, Dhaka

Chattogram Division

1. Agrabad Branch
   • Location: Agrabad, Chattogram
2. Jubilee Road Branch
   • Location: Jubilee Road, Chattogram
3. Khatunganj Branch
   • Location: Khatunganj, Chattogram
4. Chawkbazar Branch
   • Location: Chawkbazar, Chattogram
5. Cox’s Bazar Branch
   • Location: Cox’s Bazar, Chattogram

Sylhet Division

1. Sylhet Branch
   • Location: Sylhet, Sylhet
2. Moulvibazar Branch
   • Location: Moulvibazar, Sylhet
3. Sunamganj Branch
   • Location: Sunamganj, Sylhet

Khulna Division

1. Khulna Branch
   • Location: Khulna, Khulna
2. Jessore Branch
   • Location: Jessore, Khulna
3. Satkhira Branch
   • Location: Satkhira, Khulna

Rajshahi Division

1. Rajshahi Branch
   • Location: Rajshahi, Rajshahi
2. Bogra Branch
   • Location: Bogura, Rajshahi
3. Naogaon Branch
   • Location: Naogaon, Rajshahi

Barisal Division

1. Barisal Branch
   • Location: Barisal, Barisal
2. Patuakhali Branch
   • Location: Patuakhali, Barisal

Rangpur Division

1. Rangpur Branch
   • Location: Rangpur, Rangpur
2. Dinajpur Branch
   • Location: Dinajpur, Rangpur
3. Thakurgaon Branch
   • Location: Thakurgaon, Rangpur

Mymensingh Division

1. Mymensingh Branch
   • Location: Mymensingh, Mymensingh
2. Bhaluka Branch
   • Location: Bhaluka, Mymensingh

Jamuna Bank PLC Branches

Jamuna Bank PLC has a total of 167 branches across Bangladesh as of 2023. The branches are divided into the following zones:

Dhaka Zone

There are 33 Jamuna Bank branches in Dhaka district. Some notable branches include:

• Dilkusha Branch
• Gulshan Branch
• Mohakhali Branch
• Uttara Branch

Chattogram Zone

The bank has multiple branches in Chattogram district.

Rajshahi Zone

Jamuna Bank has branches in Rajshahi district and surrounding areas.

Khulna Zone

Branches are located in Khulna district and nearby regions.

Sylhet Zone

The bank has a presence in Sylhet district, with branches like Sylhet Main Branch.

Mymensingh Zone

Jamuna Bank has expanded to Mymensingh district with several branches.

Rangpur Zone

Branches are situated in Rangpur district and surrounding areas. In addition to the 167 branches, Jamuna Bank has 348 ATMs and CRMs installed across Bangladesh to provide convenient banking services to its customers.

Products and Services Jamuna Bank offers a comprehensive range of banking products and services tailored to meet the needs of its diverse customer base. These include:

1. Retail Banking: Savings accounts, current accounts, fixed deposits, and personal loans.
2. Corporate Banking: Term loans, working capital financing, trade finance, and project financing.
3. SME Banking: Specialized services for small and medium enterprises, including SME loans and advisory services.
4. Islamic Banking: Shariah-compliant banking products and services.
5. Foreign Exchange and Treasury: Foreign currency accounts, remittance services, and treasury management.
6. Digital Banking: Internet banking, mobile banking, and various digital payment solutions.

Branch Network and Expansion Jamuna Bank has an extensive network of branches across Bangladesh, ensuring easy access to banking services for customers in both urban and rural areas. The bank continuously expands its branch network and introduces new services to meet the evolving needs of its customers. In addition to physical branches, Jamuna Bank has invested in digital banking platforms to provide convenient and efficient banking services.

Corporate Social Responsibility (CSR) Jamuna Bank is committed to making a positive impact on society through its corporate social responsibility initiatives. The bank engages in various activities aimed at improving education, healthcare, and social welfare in Bangladesh. It also focuses on environmental sustainability and actively participates in disaster relief efforts.

Awards and Recognition Jamuna Bank’s dedication to excellence in banking has earned it numerous awards and recognition over the years. These accolades reflect the bank’s commitment to providing high-quality financial services and its contributions to the economic development of Bangladesh.

Conclusion Jamuna Bank Ltd is a leading financial institution in Bangladesh, known for its customer-centric approach, innovative products and services, and commitment to corporate social responsibility. With a strong foundation and a vision for the future, Jamuna Bank continues to play a vital role in the growth and development of Bangladesh’s banking sector.