BPS - Final Document

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PRIME COMMERCIAL BANK LIMITED
Prime Bank is the vision of a group of Pakistani professionals with

extensive domestic and international banking and finance experience.
They teamed up in 1992 with a selected group of successful and like-
minded business houses in Pakistan and overseas. Some of the foreign
investors belong to a highly regarded, very sizeable and well
diversified business group of Saudi Arabia.
During the initial years, Prime Bank’s strategy was focused on

continuing improvement of internal procedures and operating
structures, to ensure a greater control over the quality of its
operations.
Commercial Banking activities were initiated at the time of inception

in 1992. During 1993, two more business divisions i.e. Corporate
Banking and Financial Services were added. By 1996, Prime Bank’s
countrywide network of seventeen Branches was in place and
Consumer Banking activities were accordingly launched. Under the
Bank’s on going branch expansion program twenty six new branches
have been added during the years 2001, 2002 and 2003 while seven
more branches were opened during 2004. This raised the total
number of branches to fifty focusing primarily on the middle market
commercial banking segment, consumer banking initiatives as well as
agricultural, housing and financing of small and medium sized
enterprise.
Total Assets of Prime Bank during the period from June 1992 to
December 2003 has grown at an annual compound rate of about 26
percent to Rs.30 billion. Within this period, Shareholders’ Equity grew
from Rs.371 million to Rs.1.5 billion, Deposits to Rs.21.6 billion and
Advances (net) to Rupees. 13.6 billion. Profit before tax grew from
Rupees. 1 million for the half year to June 1992 to Rs.430 million for
the year ended 31st December 2003.

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After thirteen years of well controlled, yet sure and successful
operations, the Bank is now poised to move forward rapidly to be at
the cutting edge of financial services combining highly efficient
delivery systems with continuous product innovation. Therefore,
development of superior Human Skills and the latest Information
Technology platform are the cornerstones of Prime Bank’s overall
strategy to be in the exclusive club of winning banks of the future
Vision
To be the Preferred Bank in the Region
Core Values
o Passion to succeed
o Striving for customer delight
o Integrity in all our dealings
o Free and open communication
o Promoting team spirit
o Fostering best practices leading to good governance
o Creating an enabling environment for individual performance
and collective growth
Mission
To provide exceptional value to all our stakeholders by competing

fairly in our niche markets on the basis of superior service, innovative
products and highest level of professionalism based on customer
orientation, team work, creativity and operational excellence while
maintaining high ethical standards as a socially responsible corporate
citizen
Business Philosophy
The Bank is committed to be a sophisticated, prominent and

professional institution, providing one window service to its

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customers. The Bank visualizes itself as a full service institution
dedicated to the specialized needs of its niche markets.
Prime Bank's activities primarily cover the provision of a full range of

banking services to the commercial middle market segments of the
country, with increasing emphasis in future on the growth of the
consumer finance, agriculture and small and medium enterprise
sectors.
Prime Bank's operating strategy is focused on continuous

improvement of internal procedures and operating systems to provide
better
Services to its customers by ensuring effective control on the quality

of its operations
WHAT IS CONSUMER BANKING?
Consumer Banking means extending of loans to borrowers by the

bank against certain products such as Car, home and electronic goods
etc. Certain amount of equity is taken from the borrower and total
amount of product is paid to the vendor. Product goes in the
possession of borrower, but remains mortgaged in the name of the
bank. Borrower repays the loan through equal installments which
comprise of the principal amount and the mark-up for a pre-
determined period of time. After the complete repayment of loan
borrower becomes the owner of product.
ABOUT PRODUCTS
The ATM handles a set of typical customer transactions that were hitherto handled at the Branch
counter. For all of these transactions, customer should insert a magnetic stripe card, branded as
'Prime Cash’. This Network service will give its customers access not only to the Bank's ATMs
but also ATMs of other Banks/Financial institutions, locally or internationally

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Three kinds of products are financed by Prime Bank which are Prime
Car, Prime Home and consumer durables.
All brands of Cars are financed by Prime Bank of all prices with a floor
limit of 200,000. Brand new, as well as used vehicles are financed by
the bank.
For Prime Home loans are extended for four purposes which are
Construction, Purchase of built house, and purchase of plot for sub-
sequent construction and Renovation or Expansion.
Smart financing is another product, which is offered by Prime Bank. It

includes all products of LG electronics and certain other computer
related goods. Loans are extended on very soft conditions and through
equal monthly installments repayment is done by the customer.
ATM Card "Prime Cash"
Launched in August 2003
INTRODUCTION

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The ATM is envisaged to be a major point of contact between the Bank
and the customer and the required customer service standards must
be maintained.
SCOPE OF ACTIVITY
The ATM handles a set of typical customer transactions that were

hitherto handled at the Branch counter. For all of these transactions,
customer should insert a magnetic stripe card, branded as 'Prime
Cash’. This Network service will give its customers access not only to
the Bank's ATMs but also ATMs of other Banks/Financial institutions,
locally or internationally.
SALIENT FEATURES:
Enjoy fast and convenient banking round the clock
With Prime bank’s ATM card, you can bank 24 hours a day - 365 days
a year. Enjoy a host of banking services including cash withdrawals,
balance inquiries, statement & PIN changing facility.
 Following services are available on "Prime Cash"
o Cash withdrawal
o Account Balance inquiry
o Mini statement (Last 10 statements)
o Pin Change
Pin number consist of 4 digits

 If pin code has been entered wrong three time, the
machine will capture the card
Cash Withdrawal
You can withdraw cash 24 hours a day 7 days a week.
 How to make a withdrawal
 Insert your card in the card slot provided. Enter your ATM PIN
number
 The ATM screen will provide you with a number of options
 Select "WITHDRAWAL" option
 Enter or select the required amount
 Now press "ENTER" or "OK" key to complete the transaction
 Take your Card, Cash and receipt

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Make a Balance Inquiry
You can check your balance on Prime bank’s ATM
Mini Statement
Prime bank’s ATMs will provide you an instant mini-statement of your

last 10 transactions.
PIN Changing Facility
Prime bank’s ATM lets you change your Personal Identification

Number (PIN). Regularly change your PIN to ensure secrecy.
ELIGIBILITY CRITERIA
ATM cards will be issued to Individual and Joint Account customers

maintaining Pak Rupee checking accounts relationship with the Bank
like Savings, Current, Royal Profit etc.
ATM Cards will be issued to following customer types, subject to

Executive Committee's approval.
Individual and Joint account customers maintaining Current Account

with an approved Overdraft facility
Sole proprietary business account customers who have established a

Current account relationship (including approved Overdraft facility)
with the Bank
ATM cards may also be issued to those customers who can read but
cannot write and consequently cannot sign the Bank's documents. In
such cases, the Branch Manager will approve issuance of ATM card
after determining that the customer is capable of operating the ATM
machine and maintaining confidentiality of PIN. Due care and caution
will be exercised while issuing the card viz. the photograph of the
customer must be on branch record and the right hand thumb
impression of the customer on the ATM application must be witnessed
by two employees of the bank and counter-signed by an Officer.
If only one of the joint account holders has a subsidiary account as

well, his card will be operative for both accounts. However, the card
of the second joint account holder will be restricted to the principal
account only.

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Upon receipt of a specific request, an additional card may be issued to
a Joint Account customer against a joint application. In such cases,
cash withdrawal limit should be split between the two cards.
Branch Manager is authorized to access ATM application and refuse

the same if it is not according to the Bank's established criteria.
CASH WITHDRAWAL LIMIT
Gold 25,000
Silver 10,000
CARD APPROVAL
The Branch Manager should approve all ATM Card application forms.
ISSUANCE AND ANNUAL FEE
Gold Rupees 300 issuance fees (same annually)
Silver Rupees 100 issuance fees (same

annually)
PROCESSING TIME
4 working days
FEE VARIATION
Financial transaction 20 to 40 rupees
Non financial transaction 10 to 20 rupees
VOLUME
In very short span of time 1year and 5 months 12,000 + account

holders have PCBL ATMs in total of 85,000 Account holders
CARD ACTIVATION
ATM Cards will be issued to customers in De-Activated form.
Card Activation will be performed at Call Centre after verification of

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customer's Address, Phone number, Date of Birth, NIC number &
Mother's maiden name
MARKETING STRATEGY
First three months for all as a marketing strategy
From the date of launching it was free till Dec 31 st, 2003 for every
account holder but there is no compulsion
SWITCHES
MNET 17 banks Owned by MCB
1 Link 13 banks Owned by ABN AMRO
On March 1st, 2005 first both switches will join hands, resultantly both
the switched participants banks cardholders can operate/ transect on
both switches
Both the switches charge from participant banks except their own
card holders
MNET- the new way to greater convenience and accessibility
MNET enables all the member banks to share their electronic

networks. This means customers of all member banks can use each
other's ATMs. ATM machines of MNET member banks accept cards
issued by Muslim Commercial Bank, Citibank, Standard Chartered,
HSBC, Bolan Bank, Credit Agricole, Bank of Punjab, Prime
Commercial Bank, Saudi Pak Bank Limited, Habib Bank AG Zurich,
Metropolitan Bank, Bank of Khyber and American Express. MNET
customers can use over 600,000 ATMs worldwide that carry the
logo and shop at over 5 million outlets that carry the logo.

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ATM POLICIES

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ATM CONTROL AND REVIEWS
AT HEAD OFFICE
1. Monthly, on a surprise date, (designated officer will) Reconcile

number of Cards issued as indicated on ATM Card Issue Register
against Issued Cards Report and evidence this check on Issued Cards
Report.
2. Quarterly (designated officer will) reconcile the blank ATM Cards

held in the safe custody against the Bulk Stock Register.
AT BRANCHES:
1. Fortnightly, on a surprise date, (designated officer will) supervise

the start of day procedure and evidence this check on the "ATM-Daily
Cash Position" report.
2. Monthly, on a surprise date, (Designated officer will) reconcile

number of Cards and Pins held by the respective custodians (awaiting
delivery to customer) against the ATM applications held in current
file. Evidence these checks on Issued Cards report. Also ensure that
Cards held undelivered for more than six weeks should be treated as

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'Unclaimed'.
3. Monthly, on a surprise date (designated officer other than Card

Custodian will) check the Retained Cards. Ensure that Retained Cards
held undelivered for more than six weeks from the date of retention
should be treated as 'Unclaimed'. Evidence the check on the
respective register.
MARKET COMPARISON
Organizat Application Captured Cards Financial Claims

ion Processing Time Receiving Time Standing
Saudi Pak Application are It take 15 days to retrieve 1-Link claims are
Bank received twice the pending for
a week and processed captured card within more than 2 months,
within switch and normal
20 days from other's
three days time switches TAT is 20 days
Bolan Applications are Captured card retrieval Claims TAT is 20 days

Bank processed TAT is but
claims are outstanding
within four days 20 days for more
than one month
Normal TAT is 3 to 4 Captured card retrieval Claims TAT is 20 days

Citi Bank weeks TAT is but most
15 to 20 days claims are outstanding
Faysal Normal TAT is of two Claims are received on

Bank days No follow up is made of regular
basis i.e. within 20 days
captured cards time
Normal TAT is 15 days

HSBC Normal TAT is 1 week Take 10 days to retrieve a but
claims are received
captured card after a month
or two
Bank of Normal TAT is 15 to 20

Punjab Normal TAT is 10 days TAT is of 15 days days
but claims are

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outstanding since
October
CONSUMER DURABLES
Smart financing is another product, which is offered by Prime Bank. It

includes all products of LG electronics and certain other computer
related goods. Loans are extended on very soft conditions and through
equal monthly installments repayment is done by the customer.
SALIENT FEATURES
Amount:
Loans of minimum Rs. 10,000/- to a maximum of Rs.
500,000/-
Tenor:
12, 18, 24 and 36 months
Pricing:
13% per annum
Processing Fee:
Nil
Insurance:
Not Required

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Premature Payment Penalty:
Not applicable
Timely Payment Bonus:
Once all agreed upon installments on due dates and loan has been
repaid in full without any default whatsoever, 5% of the retail price of
goods financed will be paid back to the borrower through a pay order.
This timely payment bonus will also be made available to those who
repay the outstanding finance before the expiry of the agreed upon
tenor. In cases where the repayment in full is being made before the
expiry of agreed upon tenor, only outstanding principal amount of
finance will be recovered along with up-to-date markup.
Repayment:
(For Prime Bank’s Employees)

The monthly installment is to be directly debited from the salary
account of the employee immediately after the salary has been
transferred to his/her account with the Bank.
(For External Customers)

In monthly installments duly supported by post dated cheques.
1st Installment:
(For Prime Bank’s Employees)

To be recovered in advance before disbursement to the dealer.
(For External Customers)

To be recovered in advance on approval of application.
Stamp Duty:
Government of Pakistan levies to be recovered preferably in cash
along with 1st installment.
(Rupees. 130/- only for the Prime Commercial Bank’s employees)
1- Letter of Hypothecation: Rupees 50/-
2- Letter of Lien & Set-Off: Rupees 30/-
3- Morabaha Finance Agreement: Rupees 50/-
4- Personal Guarantee: Rupees 50/-
TARGET CUSTOMERS
Smart Financing Scheme is focused on the following:

a- Salaried Individuals — Employees of reputable concerns
b- Self-Employed individuals —Professionals like doctors,
engineers, architects, CA’s, Professors and businessmen
operating as sole proprietors, partners etc

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PROCEDURE
Receiving of Applications: -
Applications will be received in either of the following manner
• From walk-in customers
• From LG’s representatives
• From our existing account holders
Checking of Applications:
Only those applications which are accompanied by the required
documents should be accepted for further processing and the
remaining should be returned to the applicants.
DOCUMENTS REQUIRED
(ForPrime Bank’s Employees)

 Copy of NIC
 Recent Salary Slip
 Latest Provident Fund Balance Certificate
 Copy of Appointment Letter/Confirmation letter by the Bank
 Borrower’s Basic Fact Sheet.
 Undertaking authorizing Bank to debit his/her monthly loan
installment from his/her salary account at the Bank
 Undertaking authorizing the Bank to adjust his/her outstanding
dues towards loan liability incase of non-payment of
installments/death or resignation through the HR & A Dept. from
his/her settlement dues.
(For Salaried Individuals)

• Copy of NIC.
• Salary certificate by employer on employer’s
letterhead giving gross as
well as net salary.
• Employer’s undertaking
• Latest Provident Fund Balance Certificate.
• Copy of Appointment Letter/Confirmation letter by
the Bank.
• Borrower’s Basic Fact Sheet, copy of latest income
tax return for loans
100,000/- and above.
(For Self-employed Individuals)

• Copy of NIC.
• Last six months bank statement.
• Last paid utility bill.
• Borrower’s Basic Fact Sheet, copy of latest income
tax return for loans
100,000/- and above.

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OTHER INFORMATION
The prices of products are subject to change without any prior notice
and the customer should confirm their availability at the time of
submission of application.
Disbursement to be made by crediting 95% of the loan amount to

retailers account with Prime Commercial Bank after ensuring delivery
of products to the customer request. The balance 5% constitutes the
commission repaid by retailers
PROCESSING & RECOMMENDATION:
Applications accepted will be divided in following three groups:
Group A For salaried individuals

Where only employer’s undertaking is the basis
Group B For self-employed individuals

Where security offered is lien on bank deposit, GOP
securities/ COI
Group C Other securities like personal guarantees acceptable

to the bank.
The applications falling in Group A (salaried individuals) should be

processed by the officers by using Branch Selection Test (BST). Once
the application passes the BST, forward the same to the Chief
Manager for approval. The procedure is also given hereunder for
clarity:
• Take the total of retail Price(s) of that applicant has applied for.
• Pick up the monthly installment for the preferred period (12, 18, 24
or 36 months mentioned in the application)
• Workout the percentage of the total monthly installment vis-à-vis the
net take home salary.
• All cases, where the total installment amount is equal to or less
than 35% of net lake home salary, will be considered successful in
Branch Selection Test.
For applications received from self—employed individuals, Chief

Manager will look at the security being offered which may be:
• Account with Prime Bank

• Account with another bank
• Government securities or COIs

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• Personal Guarantee that may be acceptable to the bank (may be
from an officer or the bank or a good client etc.)
APPROVAL OF APPLICATIONS:
Applicants falling under Group A (salaried individuals)
Among other things, decision will be based upon the Branch Selection
Test. However, the approving authority (Chief Manager) must ensure
that the information given in the application form is corroborative.
Applicants falling under Group B and C (self employed

individuals)
The Chief Manager will make a credit evaluation for approval

purposes by looking at other information available under the income
details column etc. The application will be approved or declined
accordingly.
After the approval / refusal, applications will be divided as follows:
a. Successful applications for loans to be secured by

employer’s undertaking
b. Successful applications for loans to be secured by
lien/pledge on deposits,COIs, etc.
c. Successful applications for loans to be secured by personal
guarantees acceptable to the bank.
d. Unsuccessful applications
Prepare and dispatch refusal letters to unsuccessful applicants

However, the application forms along with office copy of refusal letter
should be retained in a separate file at branch premises.
Time Period for Approval/Refusal of Applications
The applications should be disposed of as either approved or declined

by the end of the next working day. For all approved applications,
applicants will be informed by phone calls requesting them to visit the
branch and complete the formalities as detailed hereunder:
SECURITY/ DOCUMENTATION
The successful applicant’s will be requested for the following:
Applicants falling under Group A (where security is employer’s

undertaking)

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1. Signing the Morabaha Finance Agreement along with schedules
thereto
2. Signing the Letter of Hypothecation
3. Signing the Local Purchase Order
4 Depositing the first installment (preferably in cash) and
applicable Government of Pakistan levies
5. Submitting the post—dated cheques for agreed upon
installments for entire tenor.
Applicants falling under Group B (where security is SSCs,

DSCs, COIs, bank deposit etc.)

thereto
3. Signing the Letter of pledge, lien and authority for securities (for
DSCs, SSCs, COTs
4. Signing the Authority to collect proceeds
5. Signing the Letter of marking lien/pledge on DSCs, SSCs, COIs.
6. Signing the Letter of Lien and Set Off (for bank deposits)
7. Depositing the first installment (preferably in cash) and
applicable GOP levies
8. Submitting the post- dated cheques for agreed upon installments
for entire tenor.
9. Signing the Local purchase Order
Applicants falling under Group C (where security is personal

guarantee)

thereto
3. Submitting the Personal Guarantee (from a guarantor acceptable
to the bank).
4. Signing the Local Purchase Order
5. Depositing the first installment (preferably in cash) and
applicable GOP levies.
6. Submitting the post dated cheques for agreed upon installments
for entire tenor.
The post-dated cheques received from applicants should be entered in

safe-in-safe-out register and initialed by the Officer, Credit
Administration Department, and will remain In his custody. For
presentation of cheques on due dates, the same will be handed over to
the Operations Department one working day before the date of the
cheque.

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In this regard, Credit Administrator will maintain a Smart Financing
Installment Calendar which should be referred to on a daily basis.
All the documents mentioned above, along with the approved

application forms should be held in customer files to be maintained
separately for each customer.
BOOKING OF LOAN
Loan is to be booked when all the stipulated documents have been

signed by the customer and the proceeds of’ the cheque for the first
installment have been received and the customer has paid the
applicable stamp duty. Insist upon the customer to deposit first
installment in cash to expedite the process. The time of opening the
account is further clarified by the following example.
Case A Documents signed on January 23, 2003 and first

installment received in CASH on January 23, 2003
 Open the DF account on January 23, 2003
 Take post-dated cheques for February 23, 2003, March
23, 2003, April 23, 2003 and so on.
Case B Documents signed on January 23, 2003 and cheque for first
installment is received
 Obtain the cheque of first installment dated January
24,2003 so that it may be lodged the same day i.e.
January 23, 2003 and the proceeds are realized on
January 24, 2003
 Upon realization of proceeds, open a DF account on
January 24,2003.
 Take post-dated cheques for February 24, 2003, March
24, 2003, April 24, 2003 and so on.
FOLLOW UP OF CHEQUES RETURNED UNPAID:
If any cheques are returned for any reason i.e. lack of balance in
account etc. the Chief Manager should institute a procedure whereby
information of such cheques is provided to him on priority basis
enabling him to ensure vigorous follow up for realization of such
cheques.
ISSUANCE OF CUSTOMER ORDER:
In respect of all the successful applications where the documentation

formalities as mentioned above have been complete, proceeds of first

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cheque have been realized and the customer has paid the applicable
Govt. levies (15% GST and 3.5% withholding Tax) issue a “Customer
Order” to retailers, hereinafter referred to retailer will deliver the
products within four working days from the date of receiving the
customer order.
CONFORMATION OF DELIVERY:
Retailers will deliver the goods as per the customer order within four
working days against customer’s acknowledgement and then submit
such acknowledgement along their bill to the bank
The procedure for making payments to retailer will follow shortly
MARKET COMPARISON
S
r Equi Financi
# Bank Vendor Tenor Markup rate ty ng Brand
(Months) (%) (%) Amount Name
Smart
Prime 12,18,24,3 10K - Financi
1 Bank LG & 6 0%,13%,13%,13% 0% 500K ng
Bobby
Electronics
IBM,
LINKSYS &
HP 12,18,24 20%
Habib 12,18,24,3 10K - Life
2 Bank LG 6 0% for all tenors 0% 500K Style
Samsung, 12,18,24,3
Dawlance 6 11%,12%,12%,15%
Singer &
Philips
Bank LG,
Alfala Kenwood, 3,6,12,18,2 0%,0%,15%,15%,15 20K -
3 h Toshiba 4,36 %,15% 0% 500K Alfalah
Samusng,
Philips, Consum
Canon er
Haier, Finance
Super Asia,

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Waves
Raffles &
Quick
Comp.
Askari 12,18,24,3 0%,5.1%,7.5%,10.25 10K - Dream
4 Bank LG & Pel 6 % 0% 500K Life
Samsung 12,24,36
Askari
Leasin 12,18,24,3 10K -
5 g Any Brand 6 8% for all tenors 20% 500K
Natio
nal 25K -
6 Bank LG 12,24 13% for all tenors 0% 500K
Faysal 20K -
7 Bank Any Brand 12,24,36 14% for all tenors 0% 500K
20K - Easy
8 PICIC Any Brand 12,24,36 15% for all tenors 0% 500K Pic
Bank
of
Punja 15K -
9 b LG 12,24,36 0%, 12%, 12% 0% 500K
CAR FINANCING
Preamble
At a time when retail or consumer banking is the mainstay of every

financial institution, it becomes imperative that products tailor made
to the requirements of the customers be formulated and offered in the
market. No financial offering, whether a liability or an asset product,

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can survive in the long run, if it does not take into account specific
customer needs. The idea of consumer financing in Pakistan has
gained momentum as both the consumers as well as commercial
banks have responded favorably.
At present consumer financing being undertaken by the banks can be

divided into a few core categories comprising financing of consumer
durables, office equipment, automobiles, and housing. Most of the
financial institutions are more actively involved in car financing as
compared to other consumer finance products.
Declining interest rates and increased auto financing through banks,

leasing companies and Mudarabas have played a vital role to boost up
the auto sales like never before. In turn, it has helped enhance the
overall auto production because financing make up over 45 per cent
of total car sales today.
Banks enjoying an unprecedented liquidity find auto loan a highly

receptive market offering attractive returns in a comparative short
period of time. The availability of easy credit and the falling interest
rates have made financing a viable option for many. The base of auto
credit has witnessed an expansion never dreamt possible before
allowing the banks to find a lucrative market to invest the excess
liquidity.
In line with Prime Bank’s vision for a modernized banking and to

introduce innovative products in the market, the Bank has placed
greater emphasis on Consumer Banking with the launch of its first
consumer finance product of Car Financing Scheme, under the brand
name of “Prime Car”.
BRAND NAME
The brand name for Prime Bank Car Financing Scheme is “Prime ear”.
FEATURES
Purpose
For borrowers personal, official use only
Eligible Vehicles
 All local assembled brand new vehicles

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 All foreign assembled brand new vehicles
 All local used vehicles, not older than 1 year
 (Date to be checked from the sale invoice issued by
manufacturer)
 All foreign assembled used vehicles, not older than 5 years
 (Date to be checked from the original import papers of vehicles)
Maximum Financing Limit
Rupees 1,500,000
Minimum Financing Limit
Rupees 100,000
Down payment
20% of the ex-factory price
Financing Period
1-5 years (12, 24, 36, 48, 60 monthly installments payable in advance)
Processing Fee
Rupees 3,000
Processing fee will be charged as per the approved schedule of
charges, which is inclusive of verification charges and stamps
for charge documentation.
Verification charges to be received in advance with the receipt

of application from the customer and are non refundable in
case of refusal of loan facility
For the processing of used cars applications, any external

agency charges for evaluation of the used car shall be charged
at actual to the customer and will be non refundable in case of
refusal of loan request
Turn Around Time

Turn around time for each application from the time of receipt
till the time of its approval is 4 working days
Internal rate of return

8.5%
Insurance
Comprehensive insurance policy of vehicle in the name of
customer and Prime bank as sole beneficiary is a mandatory
requirement of Bank’s car financing scheme.

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Insurance criteria for car finance is describe as under:
i. Insurance coverage must be obtained on the full price of

vehicle
(Full price is the sum of borrower’s equity and banks
financing amount)
ii. 1st year insurance premium to be received up-front
iii. For the remaining tenures, premium to be built into the
monthly installments at depreciated value of cars as
follows:
2nd year 90%
3 year
rd
85%
4th year 80%
5 year
th
75%
Insurance Rates
3.25% Shaheen
4.75% EFU
Premium Financing
Maximum of Rs. 50,000
The premium amount over and above the invoice value of vehicle to be
financed is fixed up to a maximum of Rs. 50,000/. The percentage of
premium amount will be deducted from the equity of 20% on price of
vehicle, thereby reducing the down payment.
The premium to be financed is bifurcated for vehicle types as follows:
1. For vehicles from 800cc to 1000cc horsepower Maximum of

Rs. 25,000 premium
2. For vehicles above 1000cc Maximum of
Rs. 50,000 premium
The above arrangement of premium financing is an optional facility,

for customer and should only be accepted at the request of customer
in the application form. However, in all circumstances, the equity
percentage should not fall below 15% of price of vehicle.
As a matter of risk evaluation, it should be discouraged to offer this

option to walk-in customers or new customers having mediocre net
worth and creditworthiness with their banks. The existing
accountholders and employees of reputable organizations should be
preferred for this facility.
Loan Transfer Facility

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Allowed
If the customer has availed a vehicle loan facility from any other Bank
or Leasing company during last 2 years at the then prevalent rates
ranging between 15 to 20%, and repaying the rentals regularly, his
loan/lease facility may be transferred to our. Bank if he/she decides to
terminate the facility from that bank. Prime Bank will book the loan at
the termination value subject to proven track record of the customer
with that bank.
The equity in the above transaction will be nil, as the customer has
repaid monthly installments in addition to its initial equity deposited
with that bank. The loan tenure should not exceed a maximum of 4
years. Under the security documents, balance transfer agreement will
be signed by the customer in place of Agreement for financing, on
Mark-up Basis, along with the same set of remaining legal documents.
Premature Termination
Allowed after at least 6 months of extending the loan facility along
with 5% of the outstanding balance as termination charges
Partial Prepayment
Allowed after at least 6 months of extending the loan facility, as per
the Bank’s policy subject to 5% charges of the pre-paid amount as pre-
payment fee
TARGET MARKET
The Bank’s target market for Car Financing Scheme~ is clearly
defined as:
O Salaried Individuals, Private and Government sectors

O Corporate Employees
O Professional Individuals such as Doctors, Teachers, Architects,
Engineers etc.
O Self Employed Individuals (Businessmen & Businesswomen)
O Business Entities (Proprietorship, Partnership, Private/Public
Limited Companies)
All salaried, self-employed businessmen and professional individuals are eligible to apply for
Prime Car if they are:
 Pakistani National
 Aged between 25 years to 60 years (60 years at the time of
maturity of loan)
 Earning a monthly take home income in excess of three times of

- 25 –
monthly installment.
Salaried/Professional Individuals:
 Employed for at least 1 year with a reputable organization and
presently a confirmed employee
 Take home monthly salary of minimum Rs. 20,000/.
Businessmen & Self-Employed

 Running owns business or a partner or director in the business
entity for at least 2 years.
Proprietorship/Partnership/Private/Public limited
companies
 Business operational for a minimum period of 3 years with
profitable financial statements (Audited/Management Accounts)
LIST OF DOCUMENTS REQUIRED
A complete list of documents required from each category of the

customers are given below
Common Documents
-
1. Two recent passport size photographs
2. Copy of National Identity Card
3. Bank Statement for last six months
4. Copies of Utility bills or mobile phone bills or credit card bills for
last 3 months
5. Copies of Income Tax Returns for last 2 years or Undertaking by
the customer.
6. Copy of the Driving License (optional)
Salaried Individuals
 Recent Salary Slip duly attested by the employer.

 Letter from employer, stating the date of joining of employee,
designation, gross salary, net salary & provident fund balance.
For Business Class/ Self Employed/ Professional
 Evidence of income
 Bank Certificate stating applicant’s business duration and
creditworthiness.
 Copy of rental / purchase agreement of the business premises.
 Copy of Professional Degree (if applicable)
 Copy of Membership of evidence in case the applicant is a

- 26 –
member of any professional organization. (if applicable)
 Copy of partnership deed if the customer is a partner in a
partnership firm.
 Copy of form A/29 if the customer is a director in a limited
company.
For Proprietors! Partnership/Private Limited Concerns
 Certificate of Incorporation
 Articles & Memorandum of Association
 Copy of Partnership Deed
 Audited! Management Accounts (if audited not available) for last
2 years
 Copies of Tax Returns of business concern for last 2 years
Documents such as NIC, Utility Bills and Rental/purchase agreements

should be checked in original by the bank official.
VERIFICATION
Verification Charges Rs. 1,000
The charges of Rs. 1,000/ is fixed for all branches in Lahore, Central
and Northern regions, regardless of the actual charges payable to the
verification agency by PCBL.
The verification charges have to be received from customer once he

submits the signed application form along with pertinent documents
to Bank’s officer.
These charges are non-refundable in case of rejection of loan request.
The verification agency would submit the report to the Bank within a
time period from one day to a maximum of two days, lest there are
irregularities during the verification process like the unavailability of
the customer, geographical distances of customer’s official or
residential premises or occurrence of any unforeseen events or public
holidays.
In order to offer prompt services to the customers, the Bank may

advise the verification agency to fax the verification reports to the
Bank as and when they are finalized and mail the original ones later.
Documents to be provided to verification agency:
 Copy of completely filled and signed application form by the

customer

- 27 –
 Copy of N.J.C. of customer
 Original Bank statement
 Specimen signatures of the customer
Any of the below documents on case to case basis
 Salary slip/employer’s certificate (in case of salaried individuals)

 Copy of the partnership deed
 Copy of the rental deed (if required)
 Copies of the tax returns
 Income evidence
Expiry of Verification Report:
The verification report’s authenticity will be relied upon for a period

of one month, and will be considered as expired thereafter. This
condition applies when a customer due to any reasons whatsoever has
failed to avail the loan facility approved to him during one month from
the official approval announced to him. Henceforth, if the same
customer applies for a different vehicle after a month or wants to avail
the already approved finance facility, it is advised that a fresh
verification report to be sought. The decision to obtain a fresh
verification or use the previous one hinges on the credentials of the
customer and the officer’s comfort level with the customer or at the
discretion of the Chief Manager.
MATERIALS/ PROCESSING OF APPLICATIONS
The application form comprising of all the relevant information to be

filled in by the customer and loan agreement to be duly signed by the
client would be a mandatory tool. The other stationery pertaining to
the processing and execution of loan applications are as follows:
1. Installment Calculation Sheet
2. Signature verification form
3. Request for Bank Statement verification
4. Borrower’s Basic Fact Sheet
5. Form for Balance Transfer Facility Details (in case of BTF request)
6. Regret Letter
7. Approval Checklist
8. Offer/Acceptance Letter
9. Undertaking for Personal use of the Motor vehicle
10. Letter addressed to the previous Bank/leasing for issuance of
documents (for BTF loans)
11. Form for Insurance details to arrange insurance policy of vehicle
(to be obtained from branch offices of approved insurance companies)
12. Purchase Order (Revised)

- 28 –
13. Delivery Order (Revised)
14. Disbursement Memo
15. Certificate in favour of the client authorizing him to drive the
vehicle.
16. Motor Registration Authority Letters for registration purposes.(to
be obtained from the local registration office)
17. Repayment Schedule
PROCESS FLOW
The processing time from the receipt of a loan application to the

disbursement is set out to be three to four clays (3-4 days).
A detailed process flow entailing all the steps involved is as follows:
DAY 1
 Application form along with pertinent documents received by the

Officer-Consumer Banking at Prime Commercial Bank Ltd
 Due diligence of documents attached with the application and

assessment of its eligibility for verification.
 Verification report to be sought regarding the customer’s official

and residential details through the services of appointed
verification agency
 Incase of application by an account holder, the verification

requirement is to be decided by the Chief Manager, in light of
the track record and relationship of the customer with the Bank.
 Incase of a new customer, the Officer Consumer Banking

scrutinizes the documents, evaluates the application prudently
and counterchecks the authenticity of the office and residence
telephone numbers by calling at the numbers furnished by the
customer in the application form.
 If the attached documents with the loan application meet the

eligibility criteria, the Officer holds the file with himself and
awaits the verification report.
 If the loan amount is for Rs. 500,000 and above, the CIB report
has to be essentially obtained in compliance to the State Bank’s
prudential regulations. Before seeking approval, the requisition
for CIB report is routed through the Credit Department, who e-
mails the data to the Karachi Office to obtain online CIB reports.
DAY 2 & 3

- 29 –
 Whether the verification report is received on the 2nd or 3rd

day, the same process follows there after as elaborated below. In
case of a report being negative, the customer is informed
through verbal regrets on telephone or a regret letter is sent to
him and the file is closed.
 If the verification report is positive, the Officer compiles the approval file comprising of
all the documents obtained from the customer along with installment calculation sheet,
verification report and CIB report and prepares an Approval Checklist signed by himself.
This file is forwarded to the Manager Operations for his recommendation, who
subsequently presents the file to the chief Manager for final approval
 The Chief Manager ensures that the documents marked on the

checklist are attached in order and must read the findings of the
verification report. He may raise any queries or identify any
discrepancies, which need to be redressed by the concerned
Officer in Consumer Banking at earliest and to the entire
satisfaction of the Chief Manager upon which the final approval
is sanctioned by him.
DAY4
 The Officer announces the approval of loan to the customer and

requests him to fulfill the documentation formalities on the same
day.
 The documentation formalities mainly comprise; Acceptance of

offer letter, Opening of non checking current account, deposit of
the total down payment, signing of loan agreement, placing
purchase order for booking or delivery order for immediate
delivery of required vehicle from the car dealer and
arrangement of insurance policy from one of the Bank’s
approved insurance companies.
 First year insurance premium is received up-front by the client

whereas for the remaining loan tenure, the insurance premium
at the depreciated values of the vehicle is built in the monthly
installment and the policy is arranged by the Bank itself under
its contracts with the authorized insurance companies.
 Issuance of Purchase order if the vehicle is not available in the

market and customer wants to book the vehicle. The Purchase
Order is issued to the car dealer who gets the order form filled
and signed by the Bank against the vehicle to be booked.
 The prevailing payment practice for all brands of vehicles is

uniform these days except for the-Toyota cars i.e. 100% advance

- 30 –
payment via pay order/ demand draft has to be made to the
supplier along with the purchase order in order to book the
vehicle.
 For the booking of Toyota cars, the customer initially deposits

only the processing fee of Rs. 3,000/ and Rs. 100,000/ for
booking of vehicle with PCBL, which subsequently books the
vehicle on behalf of the customer by issuing a D.D. of Rs.
100,000/ in favour of Indus Motor Co. Ltd. Thus, the customer
remains legally committed to PCBL and doesn’t have to deposit
the total down payment before the arrival of vehicle.
 When the vehicle arrives at the showroom, the dealer intimates

its arrival to the Bank’s officer and simultaneously to the
customer, instructing them to take delivery of the vehicle at
earliest. Upon this intimation, the officer obtains the particulars
of the vehicle from the dealer to arrange the insurance. An
insurance form comprising the details of vehicle is faxed to the
insurance company with an advice to conduct the pre delivery
inspection of vehicle at the car showroom and to provide the
insurance cover note to the Bank.
 For immediate delivery of the vehicle available in the market at

On-price, any the payment for premium above the invoice value
up to the extent of upon his Rs. 50,000 may also be adjusted by
deducting the same amount from the customer’s equity, upon his
written request
 If the desired vehicle is available and the customer is willing to

pay the premium amount above the invoice value from his own
pocket, the officer obtains the particulars of the vehicle from the
dealer to arrange the insurance. An insurance form comprising
the details of vehicle is faxed to the insurance company with an
advice to conduct the pre delivery inspection of vehicle at the
car showroom and to provide the insurance cover note to the
Bank.
 As soon the insurance cover note is received by the Bank

through fax copy or original whichever is quicker and
convenient, the Officer prepares Delivery Order (DO) and gets it
signed by the Chief Manager. The stamped and signed Delivery
Order should essentially be handed over to the customer and
acknowledgement of his receipt on a copy of the Delivery Order
to be taken. In case, the customer is unable to personally collect
and receive the Delivery Order, prior instructions from him both
verbal and written in the form of authorization letter in favour of
his nominated person to receive the D.O. must be held. The

- 31 –
Officer must thoroughly read the authorization letter and checks
the name and NIC number of the authorized person. It is
imperative to match the signatures of the customer in the letter
to his signature verification form attested by his Bank earlier.
 Subsequent to the complete fulfillment of above formalities, the

disbursement is carried out by consumer’ banking officer and
cheque/demand draft is issued to the dealer in favour of the
Supplier. The disbursement should preferably be made the same
day or otherwise in next 2 days essentially as per terms with the
dealer. 1-lowever credit of 2-3 days is extended by dealers under
a routine practice.
Follow on Process
 The dealer after receiving the payment, issues the original sale
invoice of the vehicle directly to the Bank, which then arranges
the registration of the vehicle through its appointed registration
agency. Immediately after the delivery of vehicle, the dealer is
asked to duly sign and stamp the Delivery Acceptance Form,
which is part of the security documents. The registration
charges of the vehicle have already been recovered from the
customer as part of tile total down payment at the time of
signing tile loan agreement. In addition to the papers, tile dealer
delivers the duplicate key of tile vehicle to the Bank, which is
also a mandatory security requirement.
 The officer hands over tile original papers of the vehicle to tile
Bank’s authorized registration agent along with necessary forms
and letter in favour of Motor Registration Authority by tile Bank.
The agent arranges the registration of tile vehicle in the name of
the customer with the Bank’s lien marked on it and delivers the
original registration book along with original papers to the Bank.
The concerned officer at the Bank retains a copy of the book in
the customer file and hands over the original book to the
customer by taking his acknowledgement on the copy of book.
 Repayment schedule of the finance facility is to be essentially

furnished to the customer after the approval of tile loan facility.
SECURITY DOCUMENTS (AFTER APPRO VAL)
The security documents of tile Car Loan are a set of legal papers, to
serve as the security of the Bank and a tool to be used against the
defaulting customer during court proceedings, if that is the last
resort. A set of loan agreement of a car comprises the following
documents:
1) Account Opening Form

- 32 –
This establishes anon checking account for tile customer.
2) Know Your Customer Form (KYC)
3) Car Financing Account
4) a. Agreement for financing Motor Vehicle on Mark up Basis Or
b. Balance Transfer Facility Agreement
5) Letter of Hypothecation of Motor Vehicle
6) Irrevocable Power of Attorney
7) Authorization to take possession of Motor Vehicle.
8) Delivery Acceptance Form
9) Open Transfer Letter
10) Demand promissory Note
11) Document Checklist for Disbursement
SECURITY:
The vehicle itself is the security, which will be hypothecated in favour

of the Bank and a lien will be marked with the registrar. Apart from
vehicle being the primary security itself, supplemented by the legal
documents listed under Security Documents, the asset is secured by
strict compliance of following measures:
10.1 Registration of the vehicle in the name of customer under

lien by the Bank.
10.2 Comprehensive Insurance Policy.
10.3 Original Sale Invoice and papers vetted by Motor
Registration Authority
10.4 Post Dated Cheques as per the repayment schedule for the
entire loan term.
10.5 Duplicate Key of the car to be kept with Bank.
10.6 Incase of Pre-Approved Customers, Irrevocable Standing
Instructions addressed to Prime Bank for deduction of
outstanding amount from the account of the customer/post-dated
cheques for the amounts corresponding to the installments.
CREDIT LIMITS
The Chief Managers of the branches would be delegated approval

limits to sanction car loans up to a limit of Rs. 1.5 million without
seeking prior approval from Head office that will subsequently
endorse the proposals.
• Chief Manager Business Development For “A” group
branches
• Chief Manager For “B” group branches
• Branch Manager For “C” group branches
Approval limit: Rs. 1.5 Million

(For both the existing accountholders of the Bank & new

- 33 –
customers)
It is recommended that while extending repeat loan facility to the

same customer, an interval of at least 3 to 6 months should be
maintained to observe the repayment behavior of the client and
extend another facility on the basis of his previous track record with
the Bank.
Discretionary Powers of Chief Manager
Authority to waive the verification condition in case of an existing

account holder of Bank or case-to-case basis
Authority to reduce the 5% premature termination charges by 1-3%,

subject to very strong credentials and excellent repayment behavior of
the client.
Exception approval to be obtained from the Head Office for any

deviations from the prescribed guidelines in the manual e.g. age limit
above 60, lack of proof of income, discrepancies in the documents
submitted by the customer, inability to fully comply to the eligibility
criteria, premature termination before the stipulated time period of 6
months etc.
Approval in absence of Chief Manager
For Lahore Branches

The approval of car financing applications rests with the Manager
Operations in the absence of the Chief Manager and a post facto
approval to be obtained from the Chief Manager after he resumes
office.
For Central & Northern Branches

The approval of car financing applications rests with the Regional Heads of the respective region
in the absence of the Chief Manager of any branch under that region.
LATE PAYMENT CHARGES
As per Bank’s prevalent schedule of charges (Currently Rs. 100/- per

day will be charger! after one week from the due date in case of delay
in payment of the installment.)
CHEQUE RETURN CHARGES

As per Bank’s prevalent Schedule of Charges, (Currently Rs. 200/- per

- 34 –
returned cheque will be charged as cheque returning charges.)
INSTALLMENT DUE DATE
5th and 20th of each month
For loan disbursed from 25t1~ to 10th, the next installment shall
become due on 5th of each month till the maturity of the loan tenure.
For loan disbursed from 11th to 25th the next installment shall become
due on 20th of each month till the maturity of the loan tenure.
MODE OF REPAYMENT OF FINANCE
Through post dated cheques of monthly installments for the entire

loan tenure, to be received in advance at the time of disbursement.
COMPREHENSIVE INSURANCE
The vehicles to be financed must be comprehensively insured from

one of the Insurance Companies on the approved panel of the Bank.
The insurance policy should essentially bear complete particulars of
the vehicle (Client’s name and address, vehic1e’s Engine & Chassis
number & its registration number. Thus, a comprehensive insurance
policy entailing the above details, along with Premium Paid Receipt
are ought to be obtained before the final disbursement.
In cases, where the vehicle is being booked against 100% advance

payment of invoice value to the supplier, the insurance policy will be
issued without the registration number but duly comprising other
particulars such as engine and chassis numbers of the vehicle, along
with Insurance Premium paid Receipt.
The Bank has enlisted the following two insurance companies on its
approved panel for the insurance of vehicles under the Bank’s Car
Financing Scheme:
1). Shaheen Insurance Company Limited
Insurance Premium Rates

• 3.25% without tracker
• 3.0% with tracker
2). EFU General Insurance Company Limited

• 4.75% without tracker

- 35 –
For Toyota Corolla 2.OD

• Not insured without tracker
For 4X 4 vehicles: 6.5%
Selection of Insurance Company

1) Low Risk Customers & Vehicles up to 1000cc
Shaheen Insurance Company Ltd
2).High Risk Customers + Toyota Corolla 2.OD & Vehicles above

1000cc
EFU General Insurance Co. Ltd
NON-ELIGIBLE (NO-GO AREAS)
 Lawyers
 People belonging to media (actors, actresses, celebrities,
singers)
 Film/ drama production houses
 Rent a car companies.
 Public transportation
ISSUANCE OF LOAN (ACCOUNTS HOLDERS ONLY)

- 36 –
CAR FINANCING (ACCOUNT HOLDER ONLY)

- 37 –
ISSUANCE OF LOAN (NEW CLIENT ONLY)

- 38 –
CAR FINANCING (NEW CLIENT ONLY)

- 39 –
CAR REGISTRATION AND INSURANCE

- 40 –

- 41 –
MARKET COMPARISON
Seri Launchi Equi Process Process Prematur

al # Bank ng IRR ty ing ing e
Terminat
Date (%) Time Charges ion
3,0
1 Prime Bank Apr-03 8.50% 20% 4 days 00 5% of R B
7.9% for 2,5
2 Soneri Bank Jan-04 1 yr 15% 1 week 00 2% of R B
9.0%
other
3 Habib Bank Feb-04 7.90% 10% 1 week Nil 5% of R B
7.8% to 3,0
4 United Bank May-04 9.2% 10% 1 week 00 5% of R B
3,0
5 Cres Bank Apr-04 8.00% 10% 1 week 00 5% of R B
Askari 5,0
6 Leasing Jan-04 8.00% 10% 1 week 00 5% of R B
3,0
7 Saudi Pak Sep-03 8.00% 15% 5 days 00 5% of R B
3,0
8 Bank Alfalah Oct-03 8.50% 10% 1 week 00 5% of R B
3,5
9 MCB Aug-03 8.50% 10% 1 week 00 5% of R B
Standard 8.0% to 5,0
10 Chartered Aug-03 9.0% 10% 1 week 00 5% of R B
5,0
11 Faysal Bank 8.90% 10% 4 days 00 5% of R B
3,0
12 Citi Bank 9.00% 15% 4 days 00 5% of R B
3,0
13 Union Bank 9.50% 15% 4-5 days 00 5% of R B
3,0
14 Orix Leasing 9.50% 20% 4-5 days 00 5% of R B
2,5 No
15 PICIC 8.50% 10% 3-4 days 00 charges
2,0 10% of R
16 NIB 10.00% 10% 1 week 00 B

- 42 –
PURPOSE OF FINANCE
1. Purchase of a new/ old built house/ flat/ apartment.
2. Construction of new house.
3. Purchase of Plot only for Subsequent Construction
4. Renovation/ Expansion/ Restoration/ Improvement of existing

house/flat/apartment.

- 43 –
5. Takeover of House Finance obtained by the customer from
other financial institutions/ lenders (BTF).
TARGET CUSTOMERS
The Bank's target market for Home Finance Scheme is clearly defined
as:
 Salaried individuals
 Self-employed professionals such as Doctors, Engineers,

Architects, Chartered Accountants, Software and IT Consultants,
Teachers etc.
 Businesspersons (Sole Proprietors, Partners of partnership firm,

or Directors in private/public limited companies
All salaried individuals, self employed professionals and

businesspersons are eligible to apply for Prime Home Financing if they
fulfill the following criteria:
a. Pakistani residents aged 25-60 years

- 44 –
b. Age by maturity of loan 65 years
c. Minimum take home income of Rs. 15,000/-
d. Repayment installment should not exceed 55% of the take home

income (to be calculated @ the maximum rate of 12%)
e. (i) Salaried persons must be continuously employed in a

permanent position for at least last one year, with a total
employment history of minimum 5 years
(ii) For contractual employees to qualify, a total employment

history including permanent and contractual services of minimum
10 years is required
f. (i) Businessmen/ Self-employed professionals must have a

minimum uninterrupted period of 5 years experience of business/
professional self employment as the case may be
(ii) Current business/self-employment's satisfactory track record

should be ascertained/ verified through market repute and
applicable documents (Financial or others)
ELIGIBILITY FOR PRIME BANK EMPLOYEES
In addition to the above, following are the policy guidelines for

availing "Prime Home" financing facility available to Prime Bank's
employees:
i) Applications from Prime Bank staff to avail 'Prime Home' finance

facility to be executed in line with the governing Prudential
Regulation & in accordance with the bank's "Prime Home SOP and
in doing so HR &A Division, H.O. should regularly deduct the
installments at source from the monthly salary of the concerned
employee, instead of obtaining post dated cheques from him/her.
ii) The branch/RO/HO management may consider to assign the

concerned staffs Provident Fund and/or Gratuity, if need be, as
additional securities on case to case basis.
iii) Prime Home Financing may be extended to the bank's employees

qualifying for the same under the following conditions:

- 45 –
(a)Where the staff member is not availing any Home Finance
facility under
Employee Service Rules Compensation package.
or
(b)Where the staff member is availing Home Finance facility
under Employees
Service Rules compensation package provided there is
cushion available in
his/ her property already mortgaged with the bank.
or
(c) Where the staff member is availing Home Finance facility
under Employees
Service Rules compensation package and wants to avail
"Prime Home" for
any other additional property.
(d) Where the staff member is not entitled to avail the House Loan
facility as
per the Bank's House Loan policy;
iv) It would at discretion of bank's management to either fully settle

or allow the continuity of Prime Home loan of an employee at his/her
end of service, keeping in view the tenure of the loan, its outstanding
amount and as per bank's prevalent policy.
NON-ELIGIBLE CUSTOMERS
Customers associated with the below professions may pose a high

risk. Therefore, before processing their applications due diligence
should be adopted.
1) Lawyers
2) People belonging to media (actors, actresses, celebrities,
singers)
3) Film/ drama production houses
4) Real Estate agents / Investors
FINANCE LIMITS

- 46 –
Prime Home finance, minimum & maximum limits are as follows:
Types of Home Finance Minimum Maximu

Finance m
Rs. 500,000 Finance
Rs.
Purchase of built house/flat/
10,000,000
apartment
Construction of house Rs. 500,000 Rs.
10,000,000
Rs. 500,000 Rs.
Purchase of Plot only for
10,000,000
Subsequent Construction
Renovation/ Expansion Rs. 200,000 Rs. 7,500,000
Balance Transfer Facility Rs. 500,000 Rs. 7,500,000
For minimum finance limits, if less than prescribed, needs approval from
Regional Head/ Head of Consumer Banking.
TENURE
Borrower has the option to choose tenure from the minimum to the
maximum as appended below for the repayment of loan
Types of Home Finance Minimum Maximum

Tenure Tenure
Purchase 3 Yrs 20 Yrs
Construct 3 Yrs 20 Yrs
Purchase of Plot only 3 Yrs 20 Yrs
for Subsequent
Construction
Renovation/Expansion 3 Yrs 20 Yrs
Balance Transfer 3 Yrs 20 Yrs
Facility

- 47 –
EQUITY PARTICIPATION
The debt to equity ratio for each type of home finance is as follows:
Types of Home Finance Debt / Equity Ratio

Bank : Borrower
Purchase 70 (Bank):30 (Borrower)
Construct 80 (Bank):20 (Borrower)
Purchase of Plot only for 50 (Bank):50 (Borrower)

Subsequent Construction 50 (Bank):50 Borrower)
Renovation/Expansion 50 (Bank):50 (Borrower)
(Loan amount to a maximum of 50% of
Assessed Value of house)
Balance Transfer Facility 70 (Bank):30 (Borrower)
Purchase: The equity, in case of Purchase shall be in the form of

customer's cash contribution i.e. a minimum of 30% of assessed value
of property.
Construct: The equity, in case of Construction, shall be the plot

itself which should value at least 20% of the * appraised value of
property, wherein the financing shall be extended up to 80% of the
*appraised value of the property, however not exceeding the maximum
limit of Rs. 10.0 million.
* Appraised Value = Assessed Value of the land PLUS

estimated cost of construction.
Purchase of Plot only for Subsequent Construction:
Financing of plot is allowed only in case where it is followed by

subsequent financing for construction thereupon. A realistic
construction schedule has to be provided by the applicant before
allowing disbursement of the initial loan limit for the purchase of plot.
The collective equity for both the purposes i.e. purchase of plot &
subsequent construction, on appraised value of property shall be

- 48 –
taken upfront from the customer before disbursement of loan for
purchase of plot
The total financing for both the plot and construction thereon shall
not exceed the maximum limit of Rs. 10.0 million, which is the
maximum limit permissible under SB Prudential Regulations.
Renovate: The equity, in case of Renovation/ Expansion shall be the

property itself being offered for renovation/ improvement wherein
financing shall be extended on 50% of the assessed value of the
property.
BTF: In case of a BTF request, the borrower's equity contribution

towards th loan has already been built to the extent of:
(a) Borrower's Equity (b) Repayments
Prime Bank's exposure of financing shall only be
limited up to:
(i) Maximum of 70% of the Assessed Value of the property

(ii) Premature Termination Value of the debt advised by the
previous Financial
Institution/Housing Company.
Or
Whichever of above (i) & (ii) is lower.
MARK-UP RATES
Markup rates on Home Finance have been devised to suit the

requirements of the borrower. Two options of markup rates are as
follows:
Fixed Markup Rates
Under the Fixed Rate basis the mark-up is paid at an agreed rate on
a set period of time. The Fixed Rate shall be as follows:

No. of Years Mark-up
For 1 year 7.0% p.a.
For 2 years 8.0% p.a.

- 49 –
For 3 years 9.0% p.a.
a) 30 days prior to the end of the fi xed rate period, the

borrower shall have the
options either to accept fresh fixed offered rate for the next
term(s) or opt for the
floating rate prevailing at that time.
b) If no response is received by the end of the period, the fixed

rate shall change to
one year fixed rate prevailing at that time.
c) In order to monitor the Due Date for revision of markup rate

for each borrower, a Due Date Diary shall be maintained by the
concerned staff.
Floating Markup Rate
Under floating markup system, the rate is to be pegged with the

discount rate of State Bank of Pakistan. Change in the base rate
shall have a bearing on the future installments
With floating mark-up rate, the markup is revised every 12 months

and SBP discount rate is used as an index.
a) A spread of 1.0% to be maintained over the prevailing State Bank

of Pakistan
Discount Rate.
b) While the floor rate limit (minimum) will be maintained at 7%

p.a., with no cap.
c) In order to monitor the Due Date for revision of markup rate for
each borrower, a
Due Date Diary shall be maintained by the concerned staff.
Special Rates for Balance Transfer Facility (BTF) Loans:
A rebate of 0.5% is to be offered upon the prevailing adjustable/floating

mark up rate as well as upon fixed rates for all three tenures.
Fixed Mark-up Rates

- 50 –
No. of Mark-up for BTF loans
Years
For 1 year 6.5%
For 2 7.5%
years
For 3 8.5%
years
a) 30 days prior to the end of the fi xed rate period, the borrower shall
have the
options either to accept fresh fi xed offered rate for the next term(s) or
opt for the
floating rate prevailing at that time.
b) If no response is received by the end of the period, the fi xed rate shall
change to
one year fixed rate prevailing at that time.
c) In order to monitor the Due Date for revision of markup rate for each
borrower, a
Floating Markup Rate
a) With fl oating mark-up rate, the markup is revised every 12 months

and SBP
discount rate is used as an index.
b) While the floor rate limit will be maintained at 6.5% p.a. with no cap.
c) In order to monitor the Due Dates for revision of markup rate for each
borrower, a
DOCUMENTATION
A complete list of documents required from each category of the

customer is appended below
Common Documents
1. Copy of National Identity Card

2. Two recent passport size photographs

- 51 –
3. Bank Statement for last one year
4. Copies of last 3 months paid bills: (a) electricity, (b) telephone,
(c) Sui gas and (d)
credit cards (i£ available) (e) children education
5. Copies of tax returns for last 2 years.
6. Details of the dependents (age, classes, educational institution
etc.)
7. Copy of property documents for which loan is required
(a) For Salaried Individuals:
Copy of last salary slip duly attested by the Human Resource

Department of the employer
Employment Certifi cate from the employer stating the date of

joining of
employee, designation, gross salary, deductions & provident fund
balance (if the
PF policy exists in the company).
Other regular income should also be taken into account and

properly recorded if
the take home salary is falling short of the eligibility criteria.
(Other income may include the monthly rent being received from
self-owned residential/commercial property, monthly/quarterly
profits from the saving certificates, income remitted by nonresident
family member settled outside Pakistan).
Salary details of spouse/ family member wherein the salary of

borrower's spouse /family member is taken into account to determine
the repayment capacity.
(b) For Self Employed & Businessmen
Bank Certificate stating details on applicant maintaining Business

Account such as account title, date of account opening, business
entity, name and address of authorized signatory.
Copy of Professional Degree (if applicable)

Copy of current professional association/ trade body if any

- 52 –
Registered Partnership Deed (if applicable)
Articles & Memorandum of Association & Attested copy of Form A/29
of the company whose director is an applicant (if applicable)
Attested copy of Audited or Management accounts (if audited not

available) for
last three years of the corporate entity, whose
proprietor/partner/director is an
applicant.
Copy of rental/ purchase agreement for office premises

Income details of spouse/ family member wherein the income of
borrower's spouse/family member is taken into account to determine
the repayment capacity.
Documents such as NIC, Utility Bills and Rental/ purchase

agreements should be checked in original by the bank official.
{Income estimation is mandatory for self-employed, businessmen and

salaried customers who have other sources of income)
Property Documents to be obtained
The following property documents will be required from the

applicant at the time of initial screening of application.
1. Copy of title deed of property

2. Non encumbrance certificate
3. Approved building plan
4. Site plan
5. In case of Construction and Renovation etc, an estimated plan on
the letterhead of
registered architect/engineer/construction company with
authorized signatures and
company stamp.
6. Any other documents required on case to case basis
PROCESSING DOCUMENTS
The application form comprising of all the relevant information to be

- 53 –
filled in by the applicant and loan agreement to be duly signed by the
borrower would be the mandatory tools. The other stationery pertaining
to the processing and execution of loan applications are as follows:
(attached as annexure)
1) Installment Calculation Sheet

2) Signature verification form
3) Request for Bank Statement verification
4) Borrower's Basic Fact Sheet
5) Undertaking
6) Credit Scoring Matrix
7) Approval Checklist
8) Regret Letter
9) Offer/Acceptance Letter
10)Form for Balance Transfer Facility Details
11)Letter to the bank releasing property under BTF
transaction.
12)Disbursement Memo
13)Repayment Schedule
14)Amortization Schedule
15)Credit & Security file checklists
VERIFICATION
Verification agency shall be appointed by the Consumer Banking

Division Head Office to carry out verification services for home finance
applications. This investigation will be carried out pertaining to the
information provided by the client in the application form and also by
obtaining other references in addition to the information provided.
Following categories may be exempted from verification at the

discretion of the approving authority:
1. Customers having a satisfactory relationship of past one year with

Prime Bank.
1. Customers whose verifications have already been conducted and

- 54 –
reported positive
during last one year while availing car finance facility. (If the
customer's office or
residential particulars have been changed, a fresh verification is
required)
However, verification for new customers is imperative.
The verification agency would submit the report to the Bank within a
time period from two days to a maximum of four days, lest there are
irregularities during the verification process like the unavailability of
the customer, geographical distances of customer's official or
residential premises or occurrence of any unforeseen events or public
holidays.
Documents to be provided to verification agency:
• Copy of completely filled and signed application form by the

customer
• Copy of N.I.C. of customer
• Original Bank statement
• Specimen signatures of the customer
• Copies of utility bills
Any of the below documents on case to case basis:
• Salary slip/employer's certificate (in case of salaried individuals)

• Copy of the partnership deed or Form A & 29
• Copy of the rental deed (if required)
• Copy of Tax returns
Property Insurance
It is mandatory that the mortgaged property shall be insured

against fire and its allied perils comprising of shock, lightening,
explosion, riot strike & damage, earthquake, malicious damage,
aircraft damage, impact damage & atmospheric damage.
The customer will have choice to arrange insurance from one of the
insurance companies on Bank's approved list, or otherwise the
concerned staff will assist the customer in arranging insurance of
mortgaged property.

- 55 –
Life Insurance of borrower
Life insurance of the borrower is optional, wherein the insured

amount has to be equivalent to the total financed amount of the loan
facility.
The borrower shall provide the insurance policy with premium paid
receipts with Prime Bank as sole beneficiary. For subsequent years,
renewal of Insurance is the responsibility of the borrower.
CREDIT ANALYSIS CRITERIA
DEBT BURDEN RATIO
Debt burden is the key credit criteria for accepting or refusing a

loan request. This helps the bank in securing against fluctuating
markups whereby the repayment capacity of a customer can be
judged on a higher rate at the time of extending the loan, while
foreseeing his future repayment capacity.
Debt burden of the borrower shall be calculated at the maximum

mark-up rate of 12% in order to mitigate the risk of Bank's exposure
against fluctuating mark-up rates.
The installment calculated at the maximum rate of 12% will be used

to calculate the debt burden of the borrower to meet the stipulated
Eligibility Criteria under DSR.
The installment is applied to Item # 1 of Credit Scoring Matrix for

scoring of points under Income, instead of the installment at the
actual rate on agreed tenure by the borrower.
However, the repayment schedule for the remaining tenure shall

be calculated at the maximum rate of 16%, thereby securing the
bank's risk in case of increase in mark-up.

- 56 –
DEBT SERVICING RATIO (DSR)
DSR is one of the key credit criteria for accepting or refusing a loan
request, which is the installment percentage to take home income.
Accordingly, the borrower's repayment installment (calculated at the
rate under Debt Burden), to income should not exceed 55% of Net
Take Home Income of the borrower.
However deviation could be entertained on the merit of the case

duly cleared through the segmented verification and approval grid.
"Repayment installment should not exceed 55% of take home

income"
However, deviation may be entertained on the merit of the case

duly cleared through the segmented verification and approval grid.
CREDIT SCORING MATRIX
The concerned staff shall strictly follow the bank's approval

procedures as laid out in the Home Finance SOP, which stems to
the "Credit Scoring Matrix" given below. This matrix is a credit
risk evaluation tool to determine the eligibility of the borrower for
qualification of a house loan. The matrix lays emphasis on
borrower's income & his repayment capacity, property details,
documentation obtained, professional & business history, equity
contribution, age factor, his creditworthiness and track record of
his relationship with Prime Bank, and CIB report from State Bank of
Pakistan.
To qualify for a home loan, the customer has to score a minimum

of 70 points on this matrix and scoring below 70 is considered
unacceptable credit risk.
CREDIT RATING STANDRDS

Favorable Credit Risk 91 & above
Satisfactory Credit Risk 81 to 90
Acceptable Credit Risk 76 to 80
Marginal Credit Risk 70 to 75
Unacceptable Credit Less Than 70
Risk

- 57 –
PROCESS FLOW
Once the branch receives loan application from a customer

along with relevant documents, the loan request goes through
various credit review processes.
The concerned officer will assess the customer's requirements.

The property proposed to be purchased/ constructed/ renovated by
the customer will be discussed in detail, and the Officer will ensure
that it complies with the policy guidelines of the bank and in case
of any discrepancy, the customer will be advised to provide the
same
The prospective borrower shall complete and sign the application

form for home finance facility.
The concerned officer shall ensure that the application form has
been duly filled and required documents are attached.
Eligibility criteria are satisfied as per policy guidelines.
Where the salary/income of borrower's spouse/family member is

taken into account to determine the repayment capacity, the same
set of documentation will be obtained from that individual and
his/her personal guarantee is mandatory.
Applicant should be asked to provide detailed information about

his financial position and source of income, repayment capability
with supporting documents as required by the policy. The approval
will be subject to legal opinion, valuation of property, verification,
income estimation and reputation of geographical location of
property.
Complete process fl ow of loan execution is illustrated in the

fl ow chart as follow

- 58 –
PROCESS FLOW

- 59 –

- 60 –
TURN AROUND TIME
After receiving all required documents, the turn around time

shall be 3-4 weeks.
However, the bank assumes no responsibility for delays due to non
availability of certain documents on account of applicant.
FEES & CHARGES
The fees & charges will remain subject to revision, at the discretion
of Consumer Banking Division Head office in line with the industry
practice and regulatory authority guidelines.
Processing Charges
The bank's processing charges corresponding to the tiers of loan

amounts are as follows:
• UptoLoan Amount of Rs. 1.5 mil : Rs. 1,500

• Over Rs. 1.5 mil upto Rs. 2.5 mil : Rs. 2,500
External Agencies Charges
The external agencies include the lawyer, income estimation,

evaluation and verification etc. and their fees shall be charged at
actual to the customer and will not be refunded if the assignment has
been initiated by the agency.
Government levies i.e. stamp duty, registration fee, duties, taxes etc.
will be borne by the customer at actual.
All charges will be paid directly to Prime Bank. Please note that the
bank's application processing charges are non-refundable in case of

- 61 –
refusal of loan request.
PREPAYMENT
Partial Prepayment
Allowed once per year with NO penalty/charges, provided a lump

sum repayment is effected ranging from an equivalent of minimum
6 installments to a maximum of 12 installments.
Full Prepayment
The prepayment penalty varies in terms of tenures as follows:
Tenure Fee on Principal Outstanding
• Within first 2 years • 3.5%

• Over 2 to 4 years • 3.0%
• Over 10 to 20 years • Nil
Late Payment Charges

Applicable as per Bank's prevalent schedule of charges.
Currently, Rs. 100/- per day will be charged from the due date in case
of delay in payment
of the installment.
Cheque Return Charges
Applicable as per Bank's prevalent Schedule of Charges.

Currently Rs. 200/- per returned cheque will be charged as cheque
returning charges.

- 62 –
REPAYMENT
The Home Finance shall be payable in Equal Monthly

installments (principal + mark-up) payable in advance as per
Repayment Schedule advised to the borrower and duly accepted
and acknowledged by him/her/them through signatures.

63
______________________________________________________________________________
Mode Of Repayment
(a) Post dated cheques completely filled and duly signed by the
borrower in favour of Prime Commercial Bank Ltd.,
corresponding to the monthly installments as per repayment
schedule for the booked mark-up tenure, to be received in
advance before the disbursement.
(a.i). While obtaining post-dated cheques drawn upon

joint account
(having account operating instructions as "Anyone to sign
singly"), an NOC from the co-joint account holder should also
be obtained confirming payment of home installments from
their joint account against post-dated cheques signed singly
by the borrower i.e. the other co-joint account holder.
(a.ii) A signed note by the customer should be obtained

confirming the
details of all the duly fi lled-in post-dated cheques by
himself/herself/themselves along with the drawee
bank/branch's name, which must be safely recorded and
retained on file.
(b) Irrevocable Standing Instructions addressed to Prime Bank for

deduction of outstanding amount from the account of the
customer. Only for valued clients of Bank.
c). In case of Prime Bank staff, direct payroll deduction of monthly

installment at source from the monthly salary of the concerned
______________________________________________________________________________
PR I M E C O MM ER C IAL BAN K LI M ITED
64
______________________________________________________________________________
employee.
The Branch shall issue revised repayment schedules at the time of

revision in the mark-up rates and obtain acknowledgement of the
same from the borrower, to become an integral part of credit &
security file.
Installment Due Date
As per Bank's approved policy, installment dates for Home

Financing loans are scheduled as 5th and 20th of each month.
a) For loans disbursed from 26 l to l0 f of a month, the

installment shall
become due on 5th of each subsequent month till the
maturity of the loan
tenure.
b) For loans disbursed from 11 th to 25th> of a month, the

installment shall
become due on 20th of each subsequent month till the
maturity of the loan
tenure.
(Convenience of customers in selecting one of the above due dates for

repayment of installments should be given due weightage)
MARKET COMPARISON
______________________________________________________________________________
65
______________________________________________________________________________
Sr Loan Limit Nature of Mark up rate

# BANK Min Max financing & Floating Fixed
Rs. In '000' debt to equity
Prime
1 Bank 500 10,000 Purchase 70% Floor limit 7% 1 Year 7.00%
500 10,000 Build 80% 2 Year 8.00%
200 7,500 Renovate 50% 3 Year 9.00%
500 10,000 Plot 50% For BTF For BTF

0.5% discount on
500 7,500 purchase rates
2 Alfalah 500 10,000 Purchase 70% Floor limit 7% 1 Year 7.00%
500 10,000 Build 70% 2 Year 8.00%
500 3,500 Renovate 40% 3 Year 9.00%

Union
3 Bank 500 10,000 Purchase 75% Floor limit 9% 14%
500 10,000 Build 75%
500 3,500 Renovate 75%
500 5,000 Plot 50%
4 Citi Bank 300 10,000 Purchase 75% 9.00% 16.00%
300 10,000 Build 75%
300 10,000 Plot 50%
300 5,000 Renovate 75%
Faysal
5 Bank 500 7,500 Purchase 70% 9% 15%
500 7,500 Build 70% KIBOR based
500 3,750 Renovate 50%
ABN 13.25%
6 AMRO 500 7,500 Purchase 80% 8.25% Salaried Salaried
14.75%
500 7,500 Build 80% 9.75% Business Business
500 4,000 Renovate 60%
______________________________________________________________________________
66
______________________________________________________________________________
7 Askari 500 10,000 Purchase 60% 8.50% 10.00%
500 10,000 Build 60%
500 10,000 Renovate 60%
8 MCB 500 10,000 Purchase 60% 8.5% Salaried 14.00%
500 10,000 Build 60% 9.0% Business
500 5,000 Renovate 60%

Habib
9 Bank 300 10,000 Purchase 80% 8.25% 9.25% for 5 yrs
300 10,000 Build 70%
300 5,000 Renovate 70%
10 PICIC 500 7,500 Purchase 70% 8.50% 14.00%
500 7,500 Build 70%
300 2,500 Renovate 30%
11 UBL 500 7,500 Purchase 80% 7.80% 12.75%
500 7,500 Build 70% For 20 yrs
300 7,500 Renovate 50%
Sr Tenure Brand Partial Premature

# BANK Min Max Name Prepayment Termination
Prime
1 Bank 3 years 20 years Prime No penalty Allowed
Home 3.5% upto 2 yrs
Min- 6 instal. 3% 2-4 yrs
Max- 12 inst. 2% 4-8 yrs
once a year 1% 8-10 yrs
0% 10-20 yrs
2 Alfalah 3 years 20 years Bank Alfalah Allowed Allowed
Home After 2 yrs
Finance No penalty 5% penalty
Union
3 Bank 3 years 20 years Allowed Allowed
My Home After 1 yr
No penalty 1-2 yrs 4%
Max- 200k 2-3 yrs 3%
per year 3-20 yrs 2%
4 Citi Bank 3 years 20 years Citi Bank Allowed Allowed
Home Loans No penalty After 1 yr
Min 6 insts. 1-2 yrs 4%
______________________________________________________________________________
67
______________________________________________________________________________
2 yrs time 2-3 yrs 3%
3-5 yrs 2%
5-20 yrs 1%
Faysal
5 Bank 3 years 20 years Home Allowed Allowed
Finance 2 yrs time
Min 6 insts. 5% penalty
Penalty 5K
ABN
6 AMRO 3 years 20 years Home Allowed Allowed
Finance Min 12 insts.
0-2 yrs 3% 0-2 yrs 4%
2+ yrs 2% 2+ yrs 2%
7 Askari 3 years 20 years Mortgage Not Allowed Allowed
Finance After 1 yr
No penalty
8 MCB 3 years 20 years Not Allowed Allowed
Piyara Ghar No penelty After 2 yr
5 % Penalty
Habib
9 Bank 3 years 20 years Home Allowed Allowed
Finance 2% Penalty After 1 yr
4% Penalty
10 PICIC 3 years 20 years Allowed Allowed
Sweet Home No Penalty No Penalty
11 UBL 3 years 20 years UBL Allowed Without penelty

Address After 1 yr with condition
______________________________________________________________________________
68
______________________________________________________________________________
PERSONAL LOANS
(Not launched so far)
Salient Features
Product Name Smart Cash
Loan Limit Minimum 10,000 rupees

Maximum 500,000 rupees
Mark up Rate 13%
Tenor Minimum 1 year

Maximum 5 years
Age Limit Minimum 20 years

Maximum 60 years
______________________________________________________________________________
69
______________________________________________________________________________
Eligible Income 10,000 rupees
Maximum Limit 35% DSR
Processing Fee none
Experience For Salaried 1 year

For Self-employed 1 year
______________________________________________________________________________

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-1–

PRIME COMMERCIAL BANK LIMITED

Prime Bank is the vision of a group of Pakistani professionals with

During the initial years, Prime Bank’s strategy was focused on

Commercial Banking activities were initiated at the time of inception

PRIME COMMERCIAL BANK LIMITED

To be the Preferred Bank in the Region

To provide exceptional value to all our stakeholders by competing

The Bank is committed to be a sophisticated, prominent and

PRIME COMMERCIAL BANK LIMITED

Prime Bank's activities primarily cover the provision of a full range of

Prime Bank's operating strategy is focused on continuous

Services to its customers by ensuring effective control on the quality

WHAT IS CONSUMER BANKING?

Consumer Banking means extending of loans to borrowers by the

PRIME COMMERCIAL BANK LIMITED

Smart financing is another product, which is offered by Prime Bank. It

PRIME COMMERCIAL BANK LIMITED

ATM Card "Prime Cash"

Launched in August 2003

PRIME COMMERCIAL BANK LIMITED

The ATM handles a set of typical customer transactions that were

Enjoy fast and convenient banking round the clock

Pin number consist of 4 digits

You can withdraw cash 24 hours a day 7 days a week.

 How to make a withdrawal

PRIME COMMERCIAL BANK LIMITED

You can check your balance on Prime bank’s ATM

Prime bank’s ATMs will provide you an instant mini-statement of your

PIN Changing Facility

Prime bank’s ATM lets you change your Personal Identification

ATM cards will be issued to Individual and Joint Account customers

ATM Cards will be issued to following customer types, subject to

Individual and Joint account customers maintaining Current Account

Sole proprietary business account customers who have established a

If only one of the joint account holders has a subsidiary account as

PRIME COMMERCIAL BANK LIMITED

Branch Manager is authorized to access ATM application and refuse

CASH WITHDRAWAL LIMIT

ISSUANCE AND ANNUAL FEE

Gold Rupees 300 issuance fees (same annually)

Silver Rupees 100 issuance fees (same

Financial transaction 20 to 40 rupees

Non financial transaction 10 to 20 rupees

In very short span of time 1year and 5 months 12,000 + account

ATM Cards will be issued to customers in De-Activated form.

Card Activation will be performed at Call Centre after verification of

PRIME COMMERCIAL BANK LIMITED

First three months for all as a marketing strategy

MNET 17 banks Owned by MCB

1 Link 13 banks Owned by ABN AMRO

MNET- the new way to greater convenience and accessibility

MNET enables all the member banks to share their electronic

PRIME COMMERCIAL BANK LIMITED

PRIME COMMERCIAL BANK LIMITED

ATM CONTROL AND REVIEWS

1. Monthly, on a surprise date, (designated officer will) Reconcile

2. Quarterly (designated officer will) reconcile the blank ATM Cards

1. Fortnightly, on a surprise date, (designated officer will) supervise

2. Monthly, on a surprise date, (Designated officer will) reconcile

PRIME COMMERCIAL BANK LIMITED

3. Monthly, on a surprise date (designated officer other than Card

Organizat Application Captured Cards Financial Claims

Bolan Applications are Captured card retrieval Claims TAT is 20 days