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Report on SME Banking Scope In Bangladesh (Part-8)

History of EXIM Bank Export Import Bank of Bangladesh Limited was established in the year 1999 under the leadership of Late Mr. Shahjahan Kabir, Founder Chairman who had a long dream of floating a commercial bank which would contribute to the socio-economic development of our country. He had a long experience as a good banker. A group of highly qualified and successful entrepreneurs joined their hands with the founder chairman to materialize his dream. In deed, all of them proved themselves in their respective business as most successful star with their endeavor, intelligence, hard working and talent entrepreneurship. Among them, Mr. Nazrul Islam Mazumder who is an illuminated business tycon in the Garments business in Bangladesh became the Honorable Chairman after the demise of the honorable founder chairman. He is also the chairman of Bangladesh Association of Banks (BAB). Under his leadership, BAB has emerged as an effective forum for exchanging views on problems being faced by the banking sector of Bangladesh and for formulating common policy guidelines in addressing such problems. This Bank starts functioning from 3rd August, 1999 with its name as Bengal Export Import Bank Limited. On 16th November 1999, it was renamed as Export Import Bank of Bangladesh Limited with Mr. Alamgir Kabir as the Founder Advisor and Mr. Mohammad Lakiotullah as the Founder Managing Director respectively. Both of them have long experience in the financial sector of our country. By their pragmatic decision and management directives in the operational activities, this bank has earned a secured and distinctive position in the banking industry in terms of performance, growth, and excellent management. Under the leadership of Mr. Lakiotullah, the Bank has migrated all of its conventional banking operation into Shariah Based Islami Banking in the year July 2004. In the year 2006, Mr. Kazi Masihur Rahman became the Managing Director of the bank when Mr. Lakiotullah left the bank after completion of his successful 7 years as MD. Mr. Kazi served in the bank for next five years. Under his leadership, the bank has been placed on a state of the art centralized IT platform with two modern data centers where world renowned core banking software TEMENOS T24 is running along with some alternate delivery channels like ATMs and SMS banking. In 25th August, 2011, Mr. Md. Fariduddin Ahmed has joined in the bank as Managing Director. With his long experience in the Shariah Based Islami banking in Bangladesh, EXIM Bank is going to take a new shape where IT-enable banking service will spread in the market. Our Vision The gist of our vision is Together Towards Tomorrow. Export Import Bank of Ban gladesh Limited believes in togetherness with its customers, in its march on the road to growth and progress with service. To achieve the desired goal, there will be pursuit of excellence at all stages with climate of continuous improvement, because, in Exim Bank, we believe, the line of excellence is never ending. Banks strategic plans and networking will strengthen is competitive edge over others in rapidly changing competitive environment. Its personalized quality services to the customers with trend of constant improvement will be the cornerstone to achieve our operational success. Our Mission The Banks mission gives emphasis to:

Provide quality financial services especially in Foreign Trade Continue a contemporary technology based professional banking environment Maintain corporate & business ethics and transparency at all levels

Sound Capital Base Ensure sustainable growth and establish full value to the honorable stakeholders Fulfill its social commitments and Above all, to add positive contribution to the national economy

Corporate Culture During the last two decades Corporate Culture has become an important theme in business as an intangible concept which clearly plays a meaningful role in corporations, affecting employees and organizational operations. It is not the only determinant of business success or failure, a positive culture can be a significant competitive advantage over organizations with which a firm competes. We, as an amenable bank, believe if the employees identify with the culture, the work environment tends to be more enjoyable, which boosts morale and leads to increased levels of teamwork, sharing of information, and openness to new ideas. Products & Services Retail Banking - Deposits - Investments - Cards - Internet Banking - SMS Banking - Locker Services Corporate Banking - Investments - Foreign Exchange & Trade Finance - Correspondent Banking - Import Finance - Export Finance SME Banking - EXIM Uddyog - EXIM Abalamban Agri Banking - EXIM Kishan

Remittance Foreign Remittance - Exim Exchange Company (UK) Ltd. - Exim Exchange Company (Canada) Ltd. - SWIFT - International Operation
SME Banking

EXIM Uddyog EXIM UDDYOG is an investment scheme facilitating project aimed to provide fixed and working capital in the field of small & medium level poultry, dairy, fisheries, and agro-based industries etc spread all over Bangladesh through our branches & SME Service Center. The product offers terminating investment facilities for the purpose of working capital finance and/or fixed assets purchase. The investment risk of the product is to cover by a strict evaluation and assessment of customers credit history and track record with any bank/financial institution in Bangladesh. Features of investment

To extend investment facilities for BMRE of existing poultry/dairy/fisheries farm. To ensure investment for real entrepreneur of small & medium farm in the light of Islami Shariah. To provide investment facility very promptly and easiest condition. of investment single or multiple phases according to the nature & requirement of business. Facility of repayment through single or multiple installments according to the return of business. In case of working capital, opportunity of renewal of the limit on expiry. Opportunity of enhanced investment on the basis of satisfactory business transaction and business requirement.

Rules of investment

A Bank account holder with a valid trade license. An application in a prescribed form. Record of successful business operation for 02 (two) years. For small entrepreneur limit of investment is Tk. 2.00 lac to Tk. 10.00 lac. For fixed capital validity is 01 (one) to 03 (three) years and for working capital validity is 01(one) year, which is renewable on expiry upon satisfactory business transaction.

Rate of Profit / Rent


For fixed/working/capital rant/profit rate will be simple and to be fixed by the bank time to time. Other charges (for fixed investment)

- Risk fund

- Supervision/management fees [to be fixed by the bank time to time] Equity investment ratio

For small entrepreneur: 50:50 For medium entrepreneur: 60:40

Mode of investment

For fixed capital: Izara Bill Bia (IBB) or working capital: Bai-Muajjal (BIAM) / Bai-Murabaha

Source of investment

Banks own fund

Security

Primary: hypothecation/mortgage on fixed and floating assets of the business. collateral:

For small entrepreneur: if the project is situated on own land, mortgage of the land and if applicable personal guarantee of (with net worth statement) 02 (two) local persons (acceptable to bank). If the project is situated on rented or leased property, security may be asked for on the basis of nature/status of the investment proposal. For medium entrepreneur, satisfactory security should be provided to cover the investment. Criteria/factors for selection of investment customer

Value of fixed asset. Expertise of entrepreneur. Annual transaction & income. Compliance of existing investment rules & regulation.

EXIM Abalamban EXIM ABALAMBAN is an investment scheme facilitating project aimed to provide fixed and working capital in the field of small & medium level General business and Workshop & light engineering etc spread all over Bangladesh through our branches & SME Service Center. The product offers terminating investment facilities for the purpose of working capital finance and/or fixed assets purchase. The investment risk of the product is to cover by a strict evaluation and assessment of customers credit history and track record with any bank/financial institution in Bangladesh. Feature of investment

To extend investment facilities for operating and extending small and medium level business & industries. To provide investment facility very promptly and easiest way. Disbursement of investment single or multiple phases according to the nature & requirement of business. Facility of repayment at a time or installments according to the return of business. In case of working capital/ trading, opportunity of renewal of the limit on expiry.

Opportunity of enhanced investment on the basis of satisfactory business transaction and business requirement.

Rules of investment

An application in a prescribed from. A valid trade license with a document of establishment of the business. Field of investment: General business- Working capital investment Workshop & light engineering Fixed & working capital investment. Rice mill (Chatal)- Fixed & working capital investment.

Limit of investment

For small entrepreneur limit of investment will be within Tk. 2.00 lac to Tk. 10.00 lac. For medium entrepreneur limit of investment will be within Tk. 10.00 lac to Tk. 50.00 lac. For fixed capital validity is 01(one) to 03(three) years and for working capital validity will be 01(one) year, which is renewable on expiry upon satisfactory business transaction.

Rate of Profit / Rent


For fixed/working/capital rant/ profit rate will be simple and to be fixed by the bank time to time. Other charges (for fixed investment)

- Risk fund to be fixed by the bank time to time - Supervision/ management fees Equity investment ratio

For small entrepreneur : 50:50 For medium entrepreneur : 60:40

Mode of investment

For fixed capital : Izara Bil Bia (IBB) For working capital : Bai- Muajjal (BAIM)/ Bai-Murabaha

Source of investment

Banks own fund

Security

Primary: hypothecation/ mortgage on fixed and floating assets of the business. Collateral: For small entrepreneur: if the project is situated on own land, mortgage of the land and if applicable personal guarantee of (with net worth statement) 02 (two) local persons (acceptable to bank). If the project is situated on rented or leased property, security may be asked for on the basis of nature /status of the investment proposal.

Criteria/ factors for selection of investment customer

Value of fixed asset. Expertise of entrepreneur Annual transaction & income. Compliance of existing investment rules & regulation.

History Standard Chartered was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa, founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853.Both companies were keen to capitalise on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods between Europe, Asia and Africa. The Chartered Bank Founded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853. Chartered opened its first branches in Mumbai (Bombay), Kolkata and Shanghai in 1858, followed by Hong Kong and Singapore in 1859. Traditional trade was in cotton from Mumbai (Bombay), indigo and tea from Kolkata, rice from Burma, sugar from Java, tobacco from Sumatra, hemp from Manila and silk from Yokohama. Played a major role in the development of trade with the East which followed the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871. In 1957 Chartered Bank bought the Eastern Bank together with the Ionian Banks Cyprus Branches. This established a presence in the Gulf. The Standard Bank Founded in the Cape Province of South Africa in 1862 by John Paterson. Commenced business in Port Elizabeth, in January 1863. Was prominent in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Expanded in Southern, Central and Eastern Africa and, by 1953, had 600 offices. In 1965, it merged with the Bank of West Africa, expanding its operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone. From the early 1990s, Standard Chartered has focused on developing its strong franchises in Asia, Africa and the Middle East. It has concentrated on consumer, corporate and institutional banking and on the provision of treasury services areas in which the Group had particular strength and expertise. Since 2000 the Bank has achieved several milestones with a number of strategic alliances and acquisitions, which have extended the customer and geographic reach and broadened the product range that Standard Chartered offers. Our business

Standard Chartered PLC, listed on the London, Hong Kong and Mumbai stock exchanges, ranks among the top 20 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the worlds most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last few years primarily as a result of organic growth, supplemented by acquisitions. Consumer Banking Consumer Banking offers a broad range of products and services to meet the borrowing, wealth management and transaction needs of individuals. Wholesale Banking Wholesale Banking has a client-focused strategy, providing trade finance, cash management, securities services, foreign exchange and risk management, capital raising and corporate finance solutions. SME Banking Our SME Banking division offers products and services to help small and medium enterprises manage the demands of a growing business, including the support of our international network and trade expertise. Islamic Banking Standard Chartered Saadiqs dedicated team provides comprehensive international banking services and a wide range of Shariah-compliant financial products based on Islamic values. Standard Chartered Private Bank Our Private Bank advisors and investment specialists provide customised solutions to meet the unique needs and aspirations of high net worth clients. SME Banking The constant economic growth in Bangladesh means ample opportunities for you to grow your dream business. However, countless obstacles, intense business environment and steep competition require you to have the very best banking partner. This is where Standard Chartered Banks SME Banking comes into play with its wide range of business responsive products, services and superior customer service. We make available:

Business Installment Loan Orjon Loan Against Property Trade & Working Capital Business Priority Account Business Premium Account Business Plus Account Straight 2 Bank Door Step Banking Transaction Services

Business Installment Loan

Do not let fund shortage hold back your business expansion. Fight back all fund related constrains with Standard Chartered Banks Business Installment Loan. Inject up to BDT 7 Million to truly make your business fly! Features This loan will help you meet your financial needs for your business expansion. You can make long term investments with this business loan and build up your equity by repaying the loan in convenient equated monthly installments (EMI). You can avail this loan through some simple documentation and against competitive cash securities.

Maximum Loan: BDT 7,000,000 (Seventy Lacs) only Minimum Loan: BDT 1,000,000 (Ten Lacs) only Interest Rate: 19.5% per annum Tenor: 3 Years 5 Years (i.e. 36 to 60 EMI payments) Cash Security: 30% to 50% of the loan amount

Following table indicates the monthly repayment amount or EMIs against different loan amounts and tenors: Loan Amount 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 36 months 36,750 73,500 110,250 147,000 183,750 220,500 257,250 48 months 30,000 60,000 90,000 120,000 150,000 180,000 210,000 60 months 26,050 52,100 78,150 104,200 130,250 156,300 182,350

Please note that the above figures are only indicative and subject to change at the sole discretion of Standard Chartered Bank without any prior notice. Eligibility Any Business fulfilling the following criteria can apply for this loan:
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At least 3 years or more experience in the same business Minimum annual turnover of BDT 12,000,000 (One crore twenty lacs) only

Documents The following denotes the documents required for any business to apply for this loan: Documents 1 2 3 4 5 6 Valid Trade License 3 Year Old Trade License Latest 12 Month Bank Statement National ID of Business Owners Utility Bill of Business TIN Certificate Proprietorship Concern Partnership Firm Private Limited Company

7 Photograph of the Owners 8 Registered Partnership Deed Memorandum & Article of 9 Incorporation, Form X and XII 10Certificate of Incorporation 11Board/ Partnership Resolution 12All Facility Related Offer Letters

N/A N/A N/A N/A

N/A N/A

N/A

Please note that the above requirements are not exhaustive and the bank may require further documentation for credit assessment on a case to case basis. Charges
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Loan Processing Fee: 1% of the approved loan amount Early Settlement Charge: 5% on outstanding amount if repaid at any given time before maturity of the loan VAT and Stamp Charge: All charges and fees are subject to 15% VAT, to be paid by the customer. Stamp charge will be at actual to be paid by the customer.

Orjon In Bangladesh the number of women-owned company continues to grow, and Standard Chartered Bank is dedicated in helping the women entrepreneurs to grow their business by offering competitive Business Loans specially designed for women. Standard Chartereds Orjon provides the liquidity you need to grow your business or meet your cash flow requirements. The loan enables you to obtain financing without any requirement of land or property collateral.
Features:

Orjon has been crafted to perfection to support the business needs of women entrepreneurs. The following features depict the very reasons as to why Orjon can be instrumental in your business success:

Maximum Loan: BDT 7,000,000 (Seventy Lacs) only Minimum Loan: BDT 1,000,000 (Ten Lacs) only Interest Rate: 18.5% per annum Tenor: 3 Years 5 Years (i.e. 36 to 60 EMI payments) Cash Security: 30% to 50% of the loan amount

Following table indicates the monthly repayment amount or EMIs against different loan amounts and tenors: Loan Amount 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 36 months 36,260 72,520 108,780 145,040 181,300 217,560 253,820 48 months 29,490 58,980 88,470 117,960 147,450 176,940 206,430 60 months 25,520 51,040 76,560 102,080 127,600 153,120 178,640

Please note that the above figures are only indicative and subject to change at the sole discretion of Standard Chartered Bank without any prior notice.
Eligibility

Any Business fulfilling the following criteria can apply for this loan:

At least 3 years or more experience in the same business Minimum annual turnover of BDT 12,000,000 (One crore twenty lacs) only

Documents

The following denotes the documents required for any business to apply for this loan: Documents 1 2 3 4 5 6 7 8 Valid Trade License 3 Year Old Trade License Latest 12 Month Bank Statement National ID of Business Owners Utility Bill of Business TIN Certificate Photograph of the Owners Registered Partnership Deed Memorandum & Article of 9 Incorporation, Form X and XII 10Certificate of Incorporation 11Board/ Partnership Resolution 12All Facility Related Offer Letters Proprietorship Concern N/A N/A N/A N/A Partnership Firm N/A N/A Private Limited Company N/A

Please note that the above requirements are not exhaustive and the bank may require further documentation for credit assessment on a case to case basis.
Charges

Loan Processing Fee: 1% of the approved loan amount Early Settlement Charge: 5% on outstanding amount if repaid at any given time before maturity of the loan VAT and Stamp Charge: All charges and fees are subject to 15% VAT, to be paid by the customer. Stamp charge will be at actual to be paid by the customer.

Loan Against Property At Standard Chartered we strive to meet your needs in a competitive and dynamic business environment. We understand that, as an SME, you require quick access to cash, and the flexibility to leverage your assets to fuel your business growth. Standard Chartereds Loan Against Property provides the liquidity you need to grow your business or meet cash flow requirements. The loan enables you to leverage your property to obtain financing.
Features

Loan against property is very flexible and is designed to meet the different financial needs of your business. Want to expand your business leveraging on your existing property? With Loan Against Property you can undertake long term investments for expansion. In the process Loan Against Property also enables you to build up business equity by repaying the loan in monthly installments.

Maximum Loan: BDT 28,000,000 (taka two crore eighty lac) only Minimum Loan: BDT 1,400,000 (taka fourteen lac) only Interest Rate: 16% per annum Tenor: 3 Years 10 Years (i.e. 36 to 120 EMIs payments) Maximum % of loan amount against market value of For Commercial Property 60% of propertys current For Residential Property 70% of propertys current market value

the property: market value

Following table indicates the monthly repayment amount or the equal monthly installments (EMI) is given below: Loan Amount 2,500,000 7,500,000 12,500,000 17,500,000 22,500,000 25,000,000 28,000,000 60 months 60,800 182,400 304,000 425,600 547,200 608,000 680,960 72 months 54,250 162,750 271,250 379,750 488,250 542,500 607,600 84 months 49,675 149,025 248,375 347,725 447,075 496,750 556,360 96 months 46,325 138,975 231,625 324,275 416,925 463,250 518,840 108 months 43,825 131,475 219,125 306,775 394,425 438,250 490,840 120 months 41,900 125,700 209,500 293,300 377,100 419,000 469,280

Please note that the above figures are only indicative and subject to change at the sole discretion of Standard Chartered Bank without any prior notice.
Eligibility

To be eligible to apply for this loan, the applicant must fulfill the following criteria:

At least 3 years of experience in same business A minimum annual turnover of BDT 7,000,000 (Taka Seventy Lac) only

Documents

The following denotes the documents required for any business to apply for this loan: Documents 1 2 3 4 5 6 7 8 Valid Trade License 3 Year Old Trade License Latest 12 Month Bank Statement National ID of Business Owners Utility Bill of Business TIN Certificate Photograph of the Owners Registered Partnership Deed Memorandum & Article of 9 Incorporation, Form X and XII 10Certificate of Incorporation 11Board/ Partnership Resolution 12All Facility Related Offer Letters Proprietorship Concern N/A N/A N/A N/A Partnership Firm N/A N/A Private Limited Company N/A

Property Documentation Requirement:

1. For Government/Leasehold Land: 1. Lease Deed/ Ownership Deed (photocopy) 2. Baya Deed for at least 25 years, if any (photocopy) 3. Development Agreement/ Joint Venture Agreement with the land owner/ developer 4. Power of Attorney (if any) 5. Power of Attorney Acceptance Letter from lessor of the property 6. Mutation (any one) a) b) c) Mutation Letter from RAJUK/ CDA Mutation Letter from National Housing Authority (NHA) Mutation Letter from Ministry of Works Duplicate Carbon Receipt (DCR) with Mutation Order Sheet Up to date Municipality Tax Receipt Up to date Land Tax Receipt Non-Encumbrance Certificate (NEC) Approved Plan/ Layout Plan and Approval Letter by RAJUK/CDA/Concerned Authority 12. Any other documents as advised by the banks lawyer 2. For Private/Freehold Land: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Ownership Deed (photocopy) Baya Deed for atleast 25 years, if any (photocopy) Development Agreement/ Joint Venture Agreement with the land owner/ developer Power of attorney (if any) Recent Survey Report (i.e. Math Parcha Duly attested) CS, SA, RS Parcha (PS, BS, RS Parcha- only applicable for Chittagong) Mutation Parcha and Mutation Proposal Sheet Duplicate Carbon Receipt (DCR) with Mutation Order Sheet Up to date Municipality Tax Receipt Up to date Land Tax Receipt Non-Encumbrance Certificate (NEC) Approved Plan/ Layout Plan and Approval Letter by RAJUK/ CDA/ Concerned Authority 13. Any other documents as advised by the banks lawyer Please note that the above requirements are not exhaustive and the bank may require further documentation for credit assessment on a case to case basis.
Charges

7. 8. 9. 10. 11.

Loan Processing Fee: 1.5% of the approved amount Valuation Fee: BDT 5000 per property Legal fee: BDT 7000 property Early Settlement Fee: 5% on outstanding amount if repaid at any given time before maturity of the loan VAT and Stamp Charges: All charges and fees are subject to 15% VAT, to be paid by the customer. Stamp charge will be at actual to be paid by the customer.

Please note both valuation and legal fees are non-refundable and inclusive of processing fee of 1.5%+VAT of the loan. Both fees will be discounted from the said processing fee at the time of loan disbursement if the loan is approved by the bank, the facility is availed by the customer and the property(s) are mortgaged in favor of the Bank. Trade and Working Capital Financing Here at Standard Chartered Bank your needs and our offers go hand in hand. If your business requires various combinations of banking facilities then our Trade and Working Capital Financing is here to provide you the perfect blend. The lists of benefits that Standard Chartered Bank offers to face your needs are:

Features

Letter of Credit Loan Against Trust Receipt (LATR) Revolving Loan (RL) Local Bill Discounting (LBD) Term Loans Bank Guarantee Shipping Guarantee Foreign Exchange Forward Overdraft Facilities

The beneficial features of Standard Chartereds Trade and Working Capital are:

Facilities of up to BDT 120,000,000 (taka twelve crore) only for single customers and up to BDT 150,000,000 (taka fifteen crore) only for groups Fast access to trade lines and transactions Dedicated experts to support with all your banking needs Easy access to operational accounts Competitive rates for foreign exchange services Wide options of instruments to serve as security or collateral Acceptable collaterals: Property, Cash/Bond/FD, Stock Hypothecation, Personal Guarantee, Corporate Guarantee, etc.

Eligibility

To avail these benefits a business must fulfill the following criteria:


Minimum Annual turnover of BDT 200,000,000 (Taka twenty crore) only 3 years of business experience

Business Priority Account As you deserve the best, we offer your Business Priority Account through which you will enjoy the privileges of personalized and superior account services for your business.
Benefits

Tiered Interest Rate Online Banking facility across all Standard Chartered branches Access to ATMs (Sole Proprietorship Only)

Internet Banking and SMS Banking Evening Banking Facility in select Branches 24-hour ContactCenter (Sole Proprietorship Only) Experienced Relationship Manager to take care of all your daily banking requirements FREE Issuance of Pay Order and Demand Draft FREE Online Intercity Transaction Facility FREE Over-the-Counter Transaction FREE Monthly Account Statements FREE Daily e-Statements FREE Exclusively Designed Personalized Cheque Book A host of other exclusive privileges offered by Priority Banking, including free valet parking, discounts, fee waivers and privileges

Eligibility

By maintaining a minimum half-yearly average balance of BDT 1,000,000, any of the following type of business entities & individuals can benefit from Business Priority Account

Sole Proprietorship Partnerships Self-Employed Professionals Limited Liability Company (LLC) Local Development Organizations (Only Liability Relationship)

Business Premium Account The Business Premium Account has been designed to create a relevant and exclusive package that will make your business thrive. By becoming a Business Premium Accountholder, you can enjoy the following distinctive services:
Benefits

Tiered Interest Rate Online Banking facility across all Standard Chartered branches Access to ATMs (Sole Proprietorship Only) Internet Banking and SMS Banking Evening Banking Facility in select Branches 24-hour ContactCenter (Sole Proprietorship Only) Team of Relationship Managers FREE Exclusively Designed Personalized Cheque Book FREE Online Intercity Transaction Facility. FREE Over-the-Counter Transaction FREE Monthly Account Statements FREE Daily e-Statements

Eligibility By maintaining a minimum half-yearly average balance of BDT 500,000, any of the following type of business entities & individuals can benefit from Business Premium Account

Sole Proprietorship Partnerships Self-Employed Professionals Limited Liability Company (LLC)

Local Development Organizations (Only Liability Relationship)

Business Plus Account Standard Chartered has put together the custom-made Business Plus Account especially designed to support the ambitious growth of SMEs such as yourself. By becoming a Business Plus Accountholder, you can enjoy the following distinctive services:
Benefits

Tiered Interest Rate Online Banking facility across all Standard Chartered branches Access to ATMs (Sole Proprietorship Only) Internet Banking and SMS Banking Evening Banking Facility in select Branches 24-hour ContactCenter (Sole Proprietorship Only) Free up-gradation from normal Current Account to Business Account FREE 1st Cheque book FREE Out-Station Cheque Collection FREE Monthly Business Statements