Retail Banking Services

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Retail Banking Services
AB Bank Retail Banking Services:

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

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

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.