~ BASIC Bank Limited

Transcription

1 ~ ~,., STATE OWIH D SCHEDULEO BANK Head Office, Dhaka. Circular no: BASICIHO/TD/20 15/04 Date: June 23, 2015 TO: ALL DIVISIONAL HEADS & BRANCH IN-CHARGES OF BASIC BANK LIMITED Subject: Circulating afresh "Interest Rate on Lending" incorporating all changes. The Asset Liability Management Committee (ALCO) of the Bank in its Meeting # held on May 25,2015 approved revision oflending rates on different categories. In light of the above and to avoid complexity of going through previously issued different amendments and clarification related to prevailing lending rates, it was also approved in ALCO to circulate afresh the revised schedule of "Interest Rate on Lending" as per updating all previously issued relevant amendments and clarifications and newly approved revisions and clarifications as mentioned above. This newly issued "Interest Rate on Lending" will be effective from July 2, Our previously issued circular and amendment on "Interest Rate on Lending" will stand cancelled from the effective date of this new circular; i.e., from July 2, The interest rate schedule is to be displayed in a prominent place of the Branch for information of all concerned. Please feel free to make any relevant queries, if any, to the undersigned. Md. smait Mohammad Moniruzza Deputy General Manager ~ General Manager Enclosed: Interest Rate on Lending Copy to: 1. PS to The Managing Director, Head Office, Dhaka 2. PS to All Deputy Managing Directors, Head Office, Dhaka 3. All Heads of Regional Recovery Office 4. All General Managers, Head Office, Dhaka "

2 01. Agriculture: Category Interest Rate a. Primary Products (Crops) 11.00% p.a. b. Others 11.00% p.a. 02. Agro Based Industries : a. Agro based Industries - Term Lending 13.00% p.a. b. Agro based Industries - Working Capital 14.00% p.a. 03. Micro and Cottage Industry / Enterprise: a. Micro and Cottage Industry / Enterprise: Service and Manufacturing i. Term Lending 13.00% p.a. ii. Working Capital 14.00% p.a. b. Micro Enterprise: Business / Commercial/Trading i. Term Lending 14.00% p.a. ii. Working Capital 14.25% p.a. 04. Small Industry / Enterprise: a. Small Industry / Enterprise: Service and Manufacturing i. Term Lending 13.00% p.a. H. Working Capital 14.00% p.a. b. Small Enterprise: Business / Commercial/Trading i. Term Lending 14.00% p.a. ii. Working Capital 14.25% p.a. 05. Medium Industry / Enterprise: a. Medium Industry / Enterprise: Service and Manufacturing i. Term Lending 14.00% p.a. ii. Working Capital 14.25% p.a. b. Medium Enterprise: Business / Commercial/Trading i. Term Lending 14.50% p.a. ii. Working Capital 14.50% p.a. 06. Large Industry (Manufacturing and Service) : a. Term Lending: l4.25%p.a. b. Working Capital: l4.75%p.a. Page 1 of 5

3 07. Commercial Lending: (Business / Commercial/Trading) a. Enterprises not covered under CottagelMicro/SmalllMedium Enterprises 14.75% p.a. b. Others 15.00% p.a. OS. Loan against documentary bills accepted by banks - a. Payment in Foreign Currency 13.50% p.a. b. Payment in local Currency 14.50% p.a Trade Financing: a. Export (Direct): (applicable only for financing at pre-shipment stage) i. Packing Credit (PC) 7.00% p.a. ii, Export Cash Credit (ECC) b. Import: (including PAD, LIM, LTR) 7.00% p.a. i. Agro based industries (imported through valid industrial IRC) 14.00% p.a. ii. Micro and cottage Industry (imported through valid industrial IRC) 14.00% p.a. iii. Small Industry (imported through valid industrial IRC) 14.00% p.a. iv. Medium Industry (imported through valid industrial IRC) 14.25% p.a. v. Large Industry (imported through valid industrial IRC) 14.75% p.a. ii. Others 10. Other Short Term Loan(STL) 15.00% p.a. a. Agriculture-Primary products (Crops) 11.00% p.a. b. Agriculture - Others 11.00% p.a. c. Agriculture based Industries 14.00% p.a. d. Industrial (Service and Manufacturing) 14.50% p.a. e. Business / Commercial/Others 15.00% p.a. 11. Other Demand / Forced Loan a. Industrial (Service and Manufacturing) 15.00% p.a. b. Business / Commercial/Others 15.00% p.a. 12. Advance / Loan against Work Order including STL 15.00% p.a. 13. Overdraft against: (in case OD against FDRs having various rates, weighted average of FDR rates would be taken as basis) a. Bank's own fixed deposit 2.00% p.a. + FDR rate b. Bank's own deposit scheme 2.00% p.a. + Scheme rate Page 2 of 5

4 c. Other bank's Fixed Deposit Receipt 13.00% p.a. d. Government Bonds and Securities 14.00% p.a. e. OD (Mortgage)/Other Over Draft 15.00% p.a. 14. Consumer Finance a. Home Loan 15.00% p.a. b. Transport Loan 15.00% p.a. c. Others 15.00% p.a. 15. Credit to Real Estate (Industrial/Commercial) a. Real Estate (Industrial/Commercial) 15.00% p.a. 16. Credit to NBFI a. Wholesale credit (Term Loan) to NBFI for on-lending purpose 12.00%p.a. b. Other finance to NBFI 13.50% p.a. 17. Wholesale Finance to NGOs/MFI etc. a. For Micro Credit and other / special programs 11.50% p.a. b. For fmance to Agricultural Sector under Agricultural & Rural Credit Policy and Programme of Bangladesh Bank 18. Transport (Industrial/Commercial) Transport of inland, water including ocean going vessel and air 11.00% p.a % p.a. Page 3 of 5

5 Notes to the Rate of Interest on lending: i) In case of import financing(pad/ltrllim) of essential food items, the under-noted rates will be applicable against respective food items till further instruction: (a) Rice and wheat % p.a. (b) Edible oil (refine & crude), pulse, peas, onion, dates and sugar % p.a. ii) Clarification for Item no 09 (a) (i) under Direct export- Trade Financing head: (a) The PC will expire after 30 days which to be counted from the date of shipment mentioned in the relative Documentary Credit or Sales Contract for export (b) In case of more than one shipment schedule and shipment date, the disbursement date and amount of PC will be assessed and disbursed according to the schedule & value of each scheduled shipment And expiry dates of each PC will be determined according to the schedule and above rule of 30 days (mentioned in ii. a). In this scenario, Branches are advised to maintain separate PC accounts according to multiple disbursements (i.e. separate account for separate schedule & value of each scheduled shipment). (c) After the expiry date interest to be charged at rate applicable for relevant industry / enterprise working capital lending rate of this schedule. iii) Clarification for Item no 09 (a) (ii) under Direct export-trade Financing head: The ECC will be expired after 120 days which to be counted from the date of disbursement The disbursement of ECC must be made against export order. After the expiry date interest to be charged at rate applicable for relevant industry / enterprise working capital lending rate of this schedule. iv) Interest on any overdue loan (except PC & ECC) to be charged at 1.00% p.a. higher than the schedule / agreed rate from the maturity / expiry date for overdue period. v) Any lending rate specifically allowed to the borrowers under special programs like ADB, GOB, Bangladesh Bank financed projects, BASIC Kalyani, etc. will continue with existing rate of interest or any rate explicitly instructed to / agreed to by. vi) Any advance or loan, at first, should be matched with the specific rate mentioned above; if not matched, then approval must be taken from the concerned Division at Head Office. Page 4 of 5

6 vii) In case of time extension of any LTR and/or STL, an additional 1% p.a. interest will be applicable for every extension. For example, an LTR account having interest rate of 15% has been extended first time for a further period; then the interest rate of that account will be 16%(15+ l)for the extended period. If the same account is extended for another period, then the interest rate of that account will be 17%(16+ l)for the further extended period and so on. viii) In case of Bills Purchased (Bangladesh Taka), approval must be taken from the concerned Division at Head Office and in case of Bills Purchased (Foreign Currency), existing rules and instructions of Bangladesh Bank and Head Office shall be applicable. ix) For definition of Cottage, Micro, Small and Medium Industry / Enterprise, please refer to the Circular No.01, dated June 19, 2011 issued by SME & Special Programs Department of Bangladesh Bank and our Bank's related circular, if any. x) For definition of Large Industry, please refer to the National Industrial Policy issued by Ministry of Industries, GOB and our Bank's related circular, if any. xi) For other clarification please refer to the existing policies / circulars / letters / instructions issued from time to time by GOB, Bangladesh Bank and our Head Office. xii) Business / Commercial/Trading would not include any industrial concern/enterprise under Service or Manufacturing sector. xiii) All interest rates are to be compounded quarterly (i.e. at the end of March, June, September and December)if otherwise not expressly stated and approved by the competent authority. For simple interest basis loans and advances no compounding of interest would be done. xiv) All Branches and Divisions of BASIC are advised to apply Consumer Lending Rates (as mentioned under serial#14 of this Lending Rate Schedule) for any of its clients if specifically approved by our Consumer Finance Division (CFD) as Consumer Loan. xv) In case of import financing (PAD/LTRlLIM) of Chemical Fertilizer/ Fertilizer imported under Government Subsidy the interest rate will be 14.00% p.a. xvi) In case of export financing (EDF) under Bangladesh Bank Export Development Fund (EDF) the interest rate will be 14.00% p.a. for the time period between document lodgment and receipt of EDF fund from Bangladesh Bank. (End) Page 5 of 5