Internship Report on Southeast Bank Ltd - A Study on Customer Satisfaction of SEBL

8/20/2019 Internship Report on Southeast Bank Ltd - A Study on Customer Satisfaction of SEBL

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ORIGIN OF THE STUDY

I am a student of Dept. of Business Administration., Leading University, Sylhet. As per

the curriculum, the dept. arranges internship program in attachment with its students

after the completion of theoretical courses (i.e., after final semester). Each intern must

carry out a specific project, which is assigned by the concerned organization and

approved by the Internship and Placement Committee of Dept. of Business

Administration of Leading University. Consequently a report based on the project is to

be submitted to the head of the Dept.

The purpose of this internee ship program is to gather a real-life work experience for a

period of three months to find out how organizations function.

Hence I was placed in the Southeast Bank Limited (Laldighir Par Branch) from June 9,

2008 to September9, 2008.

Within this time span, I have observed the activities of other competent companies,

studied literatures, discussed with my project supervisor and made qualitative and

quantitative analysis for my study. Upon completion of my internee ship, I have

prepared this report on the analysis I have made. I have tried my best to make this report

as descriptive and informative as possible.

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INTRODUCTION

Southeast Bank Limited is a scheduled commercial bank in the private sector established

under the Bank Companies Act 1991 and incorporated in Bangladesh as a public limited

company to carry out banking business in Bangladesh.

The Bank started commercial banking operations on May 25, 1995. During this short

span of time, the Bank has been successful in positioning itself as a progressive and

dynamic financial institution in the country. The bank had been widely acclaimed by the

business community for its forward - looking business outlook and innovative financial

solutions. Thus within this very short period of time it has been able to create an image

and earn significant reputation in the country's banking sector as a “Bank with Vision”.

The bank has 41 branches, with no overseas branch as on 15 August, 2008. Out of the

above 41 branches, 5 branches are designated Islamic branch complying with the rules of

Islamic Shariah. Southeast Bank Limited offers services for all commercial banking

needs of the customers, which includes deposit banking, loans and advances, export

import financing, inland and international remittance facility, etc.

The aim of this project paper is to provide a preamble to the various Deposit Products

offered by Southeast Bank Limited as well as a through analysis of this.

This report paper is arranged as follows: Part II provides a general introduction of the

term ‘Bank’ and its short history. The background of Southeast Bank Limited, corporate

commitments and performance of the Bank over the years has also been provided in this

part.

Part III covers all types of Deposit Products offered by Southeast Bank Limited. Some of

the related products and services (such as ATM card, process of cheque issuing, Locker

service) have also been discussed in this part.

In Part IV, an analysis of the deposit growth of the whole Bank as well as Laldighir Par

Branch has been provided with graphical presentation.

Practical case encountered by me during my internship tenure has been provided in Part

V.

A comprehensive SWOT analysis of Laldighir Par Branch of Southeast Bank Limited, has

been presented in Part VI.

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And finally, some recommendations has been provided in Part VII to improve and

enhance the banking service of the concerned Branch.

BROAD OBJECTIVES

Internship program is done for the purpose of gathering practical experience about the

corporate world. After successful compilation of the internship program everybody has

to submit a report on the basis of his working experience. The main objectives of the

report are –

• To accumulate practical work experience.

• To understand how services are provided by the organization to their customer.

• To understand the marketing strategies of companies to stay ahead of

competitors.

• To understand the problems and barriers they are facing in the way of doing

banking functions.

• To develop the report writing skill.

• To get the general idea about overall operation of Southeast Bank Limited.

• To identify the core competencies, which differentiate Southeast Bank from other

financial institutions.

SPECIFIC OBJECTIVES

• To find out different products and marketing strategies which Southeast Bank is

using to attract and satisfy customers.

•

To analyze the current position of Southeast Bank Limited and it’s Laldighir ParBranch in different banking sector.

• To know about the problems and barriers it is facing in providing services.

• To find out the expected level of the customers satisfaction and the services

should be offered.

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SCOPE

The study is about Southeast Bank Limited and it has 38 branches all over the

Bangladesh. So the overall scope of the report should be around 38 braches of Southeast

Bank. But my scope was limited because I am appointed by the authority in Laldighir

Par Branch of that particular bank. So I had the opportunity to work in that branch only.

METHODOLOGY

The report has been prepared based on data collected from both primary and secondary

sources. The primary source consists mainly of personal observation during the

attachment period, practical work experience in different desk of the bank, face-to-face

conversation with the respective clients.

Secondary information came mainly from websites, annual report of the Southeast Bank

Limited, various book articles regarding general banking, various brochures published

by Southeast Bank Limited.

LIMITATION OF THE STUDY

While preparing the report, always; there are some different difficulties and limitations

have to face. Such as –

• Time was a major constraint in preparing the report. The duration was only

twelve weeks. It was too limited to cover all the banking services area.

•

Several information regarding on-going projects could not be used to analyzefurther the competitive positioning of Southeast Bank Limited as they were

considered confidential.

• As I was working for Southeast Bank Limited, I could not interview employees

from its competitors, as it would have been the case normally, and thus had to

rely solely on information available to the public.

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BANK AND COMMERCIAL BANK

The name bank is derived from the Italian word ‘banco’ which means "desk/bench" and

used during the Renaissance by Florentine bankers, who used to make their transactions

above a desk covered by a green tablecloth. However, there are traces of banking activity

even in ancient times.

ABank is a financial institution whose task is to channelize funds from surplus unit to

deficit unit in the form of loans and advances to generate sufficient spread for its

sustainable existence.

The various definition of bank have been given by many writers; among those some

definitions are as follows:

• According to Kinley, “A bank is an establishment which makes to individuals

such advances of money as may be required and safely made, and to which

individual entrust money when not required by them for use.”

• TheNegotiable Instruments Act, 1881 defines "Banker is a person transacting the

business of accepting for the purpose of lending and investment of deposits of

money from the public repayable on demand or otherwise withdraw able by

cheque, draft order or otherwise."

• In the words ofR.R. Paul, “a bank is an institution which deals with money and

credit. It accepts deposits from the public, makes the funds available to those

who need them, and helps in the remittance of money from one place to another.

Commercial bank is the term used for a normal bank to distinguish it from an

investment bank.

Generally, the term “Commercial Bank” refers to that category of banks that raises

funds by collecting deposits from businesses and consumers via checkable deposits,

savings deposits, and time (or term) deposits. It makes loans to businesses and

consumers. It also buys corporate bonds and government bonds. Its primary liabilities

are deposits and primary assets are loans and bonds.

Some important among various function of commercial bank are:

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(1) Accepting Deposit

(2) Advances of Loans

(3) Credit Creation

(4) Agency Functions

(5) General Utility Function.

BRIEF HISTORY OF BANKS

The first banks were probably the religious temples of the ancient world, and were

probably established sometime during the 3rd millennium B.C. Banks probably

predated the invention of money. Deposits initially consisted of grain and later other

goods including cattle, agricultural implements, and eventually precious metals such as

gold, in the form of easy-to-carry compressed plates. Temples and palaces were the

safest places to store gold as they were constantly attended and well built. As sacred

places, temples presented an extra deterrent to would-be thieves. There are extant

records of loans from the 18th century BC in Babylon that were made by temple priests

monks to merchants.

Ancient Greece holds further evidence of banking. Greek temples, as well as private and

civic entities, conducted financial transactions such as loans, deposits, currency

exchange, and validation of coinage. There is evidence too of credit, whereby in return

for a payment from a client, a moneylender in one Greek port would write a credit note

for the client who could "cash" the note in another city, saving the client the danger of

carting coinage with him on his journey.

The fourth century B.C. saw increased use of credit-based banking in the Mediterranean

world. In Egypt, from early times, grain had been used as a form of money in addition to

precious metals, and state granaries functioned as banks. When Egypt fell under the rule

of a Greek dynasty, the Ptolemies (330-323 B.C.), the numerous scattered government

granaries were transformed into a network of grain banks, centralized in Alexandria.

This banking network functioned as a trade credit system in which payments were

effected by transfer from one account to another without money passing.

Ancient Rome perfected the administrative aspect of banking and saw greater regulation

of financial institutions and financial practices. Charging interest on loans and paying

interest on deposits became more highly developed and competitive. With the ascent of

Christianity, banking became subject to additional restrictions, as the charging of interest

was seen as immoral. After the fall of Rome, banking was abandoned in Western Europe

and did not revive until the time of the crusades.

Modern Western economic and financial history is usually traced back to the coffee

houses of London. The London Royal Exchange was established in 1565. At that time

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moneychangers were already called bankers. They used to receive their customers’

valuables and funds for safe custody and issue receipts acknowledging the same. These

notes, in course of time, became payable to bearer on demand and hence enjoyed

considerable circulation.

In the South Asian region, early banking system was introduced by the Afghan traders

popularly known as Kabuliwallas. Muslim businessmen from Kabul, Afghanistan came

to India and started money lending business in exchange of interest sometime in 1312

A.D.

In India, as early as the Vedic period, banking, in the crudest form, existed. The books of

Manu contain references regarding deposits, pledges, policy of loans and rates of

interest.

Like every other institutions and businesses, growing internationalization and

opportunity in financial services has entirely changed the competitive landscape, as nowmany banks have demonstrated a preference for the “universal banking” model so

prevalent in Europe. Universal banks are free to engage in all forms of financial services,

make investments in client companies, and function as much as possible as a “one-stop”

supplier of both retail and wholesale financial services.

This growth and opportunity also led to an unexpected outcome: entrance into the

market of other financial intermediaries: nonbanks. Large corporate players were

beginning to find their way into the financial service community, offering competition to

established banks.

The banking system in Bangladesh started functioning with 1,130 branches of 12 banks

inherited from Pakistan. Bangladesh Bank, the central bank of the country, was set up on

16 December 1971 by the Bangladesh Bank Order 1972. The government accepted the

assets and liabilities of the Deputy Governor's office of the State Bank of Pakistan in

Dhaka and declared the Bangladesh Bank as a fully effective and permanent central

bank.

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AN INTRODUCTION TO THE PRIVATE SECTOR BANKING INDUSTRY IN

BANGLADESH

Banks and financial institutions play an important role in financial intermediation and

thereby contribute to the overall growth in the economy. At present the financial system

in Bangladesh consists of the central bank, commercial bank and other non-bank

financial institutions. Commercial banks can be divided into following groups.

Nationalized Banks

Specialized Banks

Private Commercial Banks

Traditional Private Commercial Bank

Islamic Private Commercial Bank.

Foreign Banks

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BACKGROUND OF SOUTHEAST BANK LIMITED

The emergence of Southeast Bank Limited was at the juncture of liberalization of global

economic activities. The experience of the prosperous economies of the Asian countries

and in particular of South Asia has been the driving force and the strategic operational

policy option of the Bank. The company philosophy -"A Bank with Vision" has been

precisely an essence of the legend of success in the Asian countries.

Southeast Bank Limited is a scheduled commercial bank in the private sector, which isfocused on the established and emerging markets of Bangladesh. In Dhaka, the first

branch was launched in 1995 and the bank has been growing ever since. Southeast Bank

Limited has 38 branches throughout Bangladesh and its aim is to be the leading bank in

the country's principal markets. The bank by concentrating on the activities in its area of

specialization has achieved good market reputation with efficient customer service. The

Bank is committed to providing continuous training to its staff to keep them up to date

Central Bank

(Bangladesh Bank) Bank)

CommercialBanks

CommercialBanks

Specialized Banks& Credit Agencies

Co-operativeBanks

Co-operativeBanks

PrivateBanks

PrivateBanks

ForeignBanks

ForeignBanks

Nationalized Banks

Nationalized Banks

TraditionalBanks

TraditionalBanks

slamicBanks

slamicBanks

Bangladesh !rishiBank (B!B)

Bangladesh !rishiBank (B!B)

"a#shahi !rishi$nna%an Bank

("A!$B)

"a#shahi !rishi$nna%an Bank

("A!$B)

BangladeshSamaa%aBank 'td

BangladeshSamaa%aBank 'td

rameenBank

rameenBank

Bank o* Smallnd & Com

(BASC)

Bank o* Smallnd & Com

(BASC)

Bangladesh Silpa"in Sangstha

(BS"S)

Bangladesh Silpa"in Sangstha

(BS"S)

!armasangsthanBank

!armasangsthanBank

Ansar-+,P$nna%an Bank

Ansar-+,P$nna%an Bank

Primar%Co-operative

Societ%

Primar%Co-operative

Societ%

Bangladesh SilpaBank (BSB)

Bangladesh SilpaBank (BSB)

CentralCo-operative

Bank

CentralCo-operative

Bank

Sotheast Bank 'imitedSotheast Bank 'imited

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with modern practices in their respective fields of work. The Bank also tries to fulfill its

share in community responsibilities. By such measures the Bank intends to grow and

increase shareholders' earning per share. Southeast Bank Limited pledges to maximize

customer satisfaction through services and build a trusting relationship with customers,

which has stood the test of time for the last ten years.

Southeast Bank Limited has been licensed by the Government of Bangladesh as a

Scheduled commercial bank in the private sector in pursuance of the policy of

liberalization of banking and financial services and facilities in Bangladesh. In view of

the above, the Bank within a period of 10 years of its operation achieved a remarkable

success and met up capital adequacy requirement of Bangladesh Bank.

THE VISION

To be a premier banking institution in Bangladesh and contribute significantly to the

national economy.

MISSIONS OF SOUTHEAST BANK LIMITED

• High quality financial services with the help of the latest technology.

• Fast and accurate customer service.

•

Balanced growth strategy.• High standard business ethics.

• Steady return on shareholders’ equity.

• Innovative banking at a competitive price.

• Attract and retain quality human resource.

• Firm commitment to the society and the growth of national economy.

BANK’S CORE VALUES

Integrity Respect Fairness Harmony Team Spirit Courtesy

Commitment Service Excellence Insight and Spirit

Enthusiasm for Work Business Ethics

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BANK’S CORE STRENGTH

Transparent and Quick Decision Making

Efficient Team of Performers

Skilled Risk Management

Satisfied Customers

Internal Control

Diversification

COMMITMENTS TO CLIENTS

Southeast Bank is a Customer focused modern banking institution thriving fast in both

earning and ability to stand out as a leading banking institution in Bangladesh. The bank

delivers unparalleled financial services with the touch of their heart to Retail, Small and

Medium Scale Enterprises (SME), Corporate, Institutional and Governmental clientsthrough the outlets of branches across the Country. Their business initiatives center on

the emerging needs of the clients. The client commitments are the following:

• Provide service with high degree of professionalism and use of most modern

banking technology.

• Create life-long relationship based on mutual trust and respect.

• Respond to customer needs with speed and accuracy.

• Share their values and beliefs.

• Grow as the customers grow.

• Offer first-rated solutions of clients’ banking problems and issues.

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• Provide products and services at competitive pricing.

• Ensure Safety and Security of customer’s valuables in trust with the bank.

MANAGEMENT STRUCTURE OF SOUTHEAST BANK LIMITED

The expansion of an organization depends on the management style of their

organizations. Southeast Bank is blessed with a well-designed management structure

with clearly defined responsibilities, delegation of authority and proper accountability.

Resultantly, there is transparency in decision-making and management activities. The

bank has appropriate organizational structure manned with qualified professionals for

proper planning, executing, controlling and monitoring functions. The business units are

structured according to the bank’s well-defined customer focused business model

framework. To strengthen top management and bring in fresh ideas and synergy, the

bank recruited at the end of 2004 its new President & Managing Director who brings

with him years of local Banks and overseas experience and ideas to lead the

management team.

The Chairman is the Head of the Board of Directors. There is one Managing Director,

who is also the President, mainly controls and supervises the major divisions of the

bank. Two Deputy Managing Director reports to MD & Four Executive Vice Presidents

(EVP’s) and one Senior Executive Vice President (SEVP) report to the Deputy Managing

Director. Executive Vice Presidents control the credit. Senior Executive Vice President

controls the human resource and marketing divisions. Four Vice Presidents work under

Executive Vice Presidents.

The organization structure of SEBL Limited is quite horizontal where each person

reports to only one person, which refers to a very group-working environment. For

example, each officer reports to the FAVP or AVP or FVP or VP or SVP or EVP, A VP or

FVP or VP or SVP or EVP reports to the SEVP; SEVP reports to the Deputy Managing

Director and he reports to the Managing Director.

Chart: Hierarchy of Southeast Bank Ltd.

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SOUTHEAST BANK LTD. AT A GLANCE

General Information

Certificate of Incorporation March 12, 1995

Certificate of Commencement of Business March 12, 1995

Bangladesh Bank license March 23, 1995

First Branch opened May 25, 1995

Dividend offered in 2007 15% cash & 25 Bonus Share

Number of Branches 38 as on 31/12/2007

Number of Employees 1116 as on 31/12/2007

Global Correspondents 598 as on 31/12/2007

Listing of Shares DSE & CSE

Financial Stability (Taka in million)

President & Managing Director

Deputy Managing Director

Senior Executive Vice President

Executive Vice President

Senior Vice PresidentVice President

First Vice President

ENTRY LEVEL Senior Asstt. Vice President ENTRY LEVEL

Asstt. Vice President

Senior Principal Officer

Management Trainee Principal Officer

Management Trainee Executive Officer

Senior Officer Probationary

Officer

Officer

Junior Officer

Trainee Asstt. Officer Assistant Officer

Computer Trainee Computer Operator

Cashier Trainee Cashier

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Authorised Capital 3,500.00

Paid-up Capital 2,281.76

Reserve Fund 4,186.60

Deposit December 31, 2007 55,474.05

Loans and advances December 31, 2007 48,164.60

Investments December 31, 2007 8,462.86

Operating Profit December 31, 2007 2,916.20

* Initial public offering of shares of Tk. 150.00 million was completed in 1999

Chairman of the Bank Serving Period

Mr. M.A. Kashem March, 1995 - June, 1998

Mr. Ragib Ali July, 1998 - June, 1999

Mr. Yussuf Abdullah Harun July, 1999- September, 2002

Mr. Ragib AliSeptember, 2002- August,

2003

Mr. Azimuddin AhmedAugust, 2003 - September,

2004

Mr. Alamgir Kabir, FCA29th September, 2004 till

date

Vice Chairman of the Bank Serving Period

Mr. Ragib Ali March, 1995 to June, 1998

Mr. Azim Uddin Ahmed July, 1998 to June, 1999

Mr. Ragib Ali July, 1999 to September,

2002

Mr. Azimuddin AhmedSeptember, 2002 to August,

2003

Mr. Ragib AliAugust, 2003 to September,

2004

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M/S Tilla Ghar Holdings Limited represented by Mr.

Abdul Hye

29th September, 2004 till

date

President & Managing Director of the Bank Serving Period

Mr. Syed Anisul Huq April 4, 1995 to April 3,2000

Mr. Shah Md. Nurul Alam July, 1999 to May 11, 2002

Syed Abu Naser Bukhtear Ahmed30th May 2002 to 30th Sep.

2004

Mr. M.A. Muhith (M.D. C.C.)01st Oct. 2004 to 20th Oct.

2004

Mr. Neaz Ahmed 21st October, 2004 till date

Company Secretary Serving Period

Mr. A.K. Qureshi January 18, 1995 to January

17, 2004

Mr. Muhammad Shahjahan January 18, 2004 to till date

EXPANSION OF SOUTHEAST BANK OVER THE YEARS

o Authorized Capital:

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o Paid-up Capital:

o Total Capital:

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o Growth in Net Profit:

o Return on Equity:

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o Earning Per Share (EPS):

o Branch Expansion:

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Year 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

No of

Branch

12 12 12 13 19 23 27 31 31 38

o No. of Employees:

Year 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

No of

Employees

447 480 528 575 595 701 835 913 998 1116

o No. of Foreign Correspondents

Year 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

No of

Foreign

correspondents

238 253 269 280 295 350 463 507 536 598

o No. of Correspondent Banks

Year 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

No of

Correspondent

Banks

238 253 269 280 295 350 463 507 536 598

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ORGANOGRAM OF SOUTHEAST BANK LIMITED (Laldighir Par Branch)

HEAD OF THE BRANCHMotiur Rob Chowdhury

Senior Asstt. Vice President

MANAGER OPERATION (ACTING)Mohammed Abdul BasitSenior Principal Officer

CREDIT

Aminur Rahman Chy.

Officer (n!Char"e#

Md. Jeweur R!" Chy.

$unior Officer

#a$ya"ra$a Da%

$unior Officer

COMP&TER#ECTION

GENERA'BANING

Md. Mianur Rahman

%&ecuti'e Officer (n!Char"e#

#a*a umar R!y Senior Officer

Md. Ju"airu I%am

Officer

#yed +a%ir Hu%%ain

M"t. rainee Officer

Md. A"u hayer$unior Officer

#u"andu Ba$$a,har-e

rainee Officer

Md. A$iur Rahman

Senior Officer (n!Char"e#

Md. A"du aderSenior Officer

#yed 'u$/ur Rahman

Officer

CA#&A' #&BORDINATE#

Md. #aauddin) *ri'er Md. Ha"i"ur Rahm0 Ban+,uardMd. F!1!r &ddin) Messen"er Md. Jiur Rahman0 Ban+,uardMd. A"du Jai0 Messen"er Md. A.arim han0 Ban+,uard

Md. J!hur Ahmed0 Ban+,uardMd. #ira*u I%am0 ea Boy Md. !y%!r Ahmed) CleanerMd. Bada Ahmed0 ea Boy Md. Ha%an Ai0 Cleaner

20

CA#HDEPARTMET

Md. A"du Ai Chy

Senior Officer) Cash(n!Char"e#

Md. I%mai Miah$unior Officer) Cash

#yed I%mai Hu%%ain

rainee Cash Officer

R!1eya Be-um

rainee Cash Officer

#ayda J!han

rainee Cash Officer

FOREIGNE2CHANGE

I.A.M. Namu i"ria

%&ecuti'e Officer(n!Char"e#

#uran*i$ Bhu%han R!y

Senior Officer


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DEPARTMENT AND THEIR FUNCTIONS (Laldighir Par Branch)

HEAD OF THE BRANCH (MANAGER)

Overall in charge of the branch, supervision of the administration, signature of debit

expenditure and transfer voucher, cancellation of cheque as per head office instruction.

Custodian of 1st set key of strong room and locker, marketing & business development.

PRINCIPAL OFFICER

Custodian of security stationary, handling of the test key, authorized signature book,

second cancellation of cheque, custodian of 2nd set key of strong room & locker. He also

participates in marketing & business development.

The banking procedures of Southeast Bank Limited (Laldighir Par Branch) are

conducted under some departments. The functions of these departments are discussed

briefly in the following:

Account Opening Section:The main task of this section is to open different accounts,

issuing cheque books, maintenance of A/C opening register, preparation of different bill

statements and clearing cheques received for collection.

Credit Department:All kinds of credit related works and credit card processing are

accomplished in this section. There are many duties under this Dept. those are:

Preparation of credit proposals,

Maintenance,

Site survey,

Documentation,

CL-CIB returns &

Preparing statement for Bangladesh Bank & returns. Also involved in

marketing & Business development.

Accounts Section:Preparation of daily statement of affairs, extract, transfer scrolling &

supplementary, voucher preparation, monthly salary preparation, SBS 1,2,3 preparation,

ATM card maintenance, condensed statement etc. related to IT department and

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maintaining the balance of Bangladesh Bank Account. In addition, this section is also

responsible for:

Preparation of business correspondence letters,

CL-CIB computer entry,

Condensed statement preparation,

Daily affairs,

Thursday position,

Credit acceptance letter preparation, MOSCF etc.

Remittance & Bills section:Issue & payment of pay order (PO), Demand Draft (DD),

Telegraphic Transfer (TT), issuance of duplicate DD and PO, issuance of IBDA & IBCA

for online banking. Different types of Bills like Inward bills for collection (IBC), Outward

bills for collection (OBC) are handled here. Clearing Inward & Outward are enlisted in

this dept.

Cash Department:Opening of cash, maintenance of receipt & payment register, cash

remittance procedure between link & feeding branch, closing of cash, evening cash etc.

Bangladesh banks instruction thereof payment of defective notes, forged notes, vault

limit, selling-buying of prize bond & record keeping.

Dispatch section:Inward & out ward mails, recording in registers, maintenance of

postage accounts, Telegram, courier, register etc. Advance charges, refund & passing of

entries at month end. Acknowledgement of duplicate, ordinary post, registered post,

hand delivery by special messenger, use of proper envelope, required postal stamp, Test

Key confidentiality for telegraphic communication etc.

Fixed Deposit Section:Opening of FDR accounts for joint, single. Interest provision,

payment on maturity, premature encashment, handling of deceases accounts, issuance of

duplicate FDR. Indemnity-custody of indemnity bond-FDR block, specimen card,

maintenance of FD registers, renewal of FDR, balancing & closing of FDR accounts.

IT & Computer Section:One experienced junior officer is responsible for the

functioning of the IT department. He is responsible for some important works such as,

Daily voucher posting,

IT statement printing,

Updating programmed and software, maintaining computers.

Without this department it is impossible to keep continuous communication with other

branches. If the customers have an account in different branches of Southeast Bank, thy

can know their available balances from the IT department. He is also involved in

marketing & development.

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Clearing Section: Outward & Inward cheques handling, keeping register, and issuance

of IBCA to other branches available in Sylhet.

WHO CAN OPEN AN ACCOUNT

Branches may open accounts for the following categories of depositors:

a)Individuals

Any adult competent to enter into contracts can open an individual account. Individual

accounts can be opened for adults (i.e. over 18 years of age) who are competent to enter

into contracts.

b)Joint Account

More than one adult jointly or adult with minor(s) may constitute joint accounts.

c) Sole Proprietorship Concerns

A business or trading concern owned by a single adult person is a sole proprietorship

concern.

d)Partnership firms

A business concern owned and managed by more than one person whether registered or

not is a partnership firm.

e)Private Limited Company

A corporate body formed and registered under Companies Act, 1913 with limited

liability having a Certificate of Incorporation given by Registrar of Joint Stock

Companies.

f)Public Limited Company

A corporate body formed and registered under Companies Act, 1913 with limited

liability of the shareholders and with no upper ceiling on the number of shareholders. It

must have the following valid documents:

Certificate of Incorporation and Certificate of Commencement issued

by the Registrar of Joint Stock Companies.

Memorandum and Articles of Association.

Corporations and autonomous bodies are organizations created by special acts of the

parliament or by presidential orders.

g)Trusts

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Trusts are created by trust deed in accordance with the law. Trustees are given control of

an estate, usually of the deceased for the benefit of certain persons who are called

beneficiaries.

h)Liquidators

Liquidators we appointed by court of law for companies going into liquidation.

i)Administrators

Administrators are appointed by a deceased himself before his/her death by WILL to

settle his accounts after his death. Administrators are appointed by the court of law in

the absence of the deceased’s WILL.

j)Clubs/Associations/Societies

These organizations may be created and registered under Societies Registration Act.

They may not be registered organizations. Some of them may be registered under

Companies Act.

k)Co-operatives

These are corporate bodies registered under Societies, Registration Act or Companies Act

or the Co-operative Societies Act.

l)Non-Government Organizations

Non-Government Organizations (NGOs) are voluntary organizations created &

registered under Societies, Registration Act or Co-operative Societies Act.

m)Non-trading ConcernsThese are organizations registered under Societies Registration Act or Companies Act or

Co- operative Societies Act.

TYPES OF ACCOUNTS OFFERED BY SOUTHEAST BANK LIMITED

The Southeast Bank Limited offers the following types of accounts to its various types of

customers:

1.Current Accounts

2.Savings Account

3.Short Term Deposit Account

4.Fixed Deposit Receipt (FDR)

5.Special Saving Scheme

a.Monthly Savings Scheme (MSS)

b.Monthly Income Scheme (MIS)

c.Pension Savings Scheme (PSS)

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d.Double Benefit Scheme (DBS)

e.Educational Savings Scheme (ESS)

f.Savers Benefit Deposit Scheme (SBDS)

g.Marriage Saving Scheme (MSS)

h.Wage Earner Pension Scheme (WEPSS)

CURRENT ACCOUNT

This is a business account. Usually this A/C is operated by the name of a business entity.

These types of accounts are for those depositors who want to withdraw their deposit any

time in the working days. There is no restriction in maintaining deposit. The purpose of

the A/C is to meet the monetary dealings of a business. In current account no interest is

given.

Features of Current Account

• A Current Account can be opened with a minimum initial deposit of Tk. 5,000.

• Client will get Cheque book having fifty or twenty page.

• A Current Account holder can draw cheques on their accounts for any amount

and any number of times in a day.

• Client will not get any interest on his deposited amount.

• A CD holder can be overdrawn in relation to the relation among both party.

• The Bank reserves the right to refuse or close any account without assigning any

reason thereof.

• Every change of address shall be intimated to the Bank.

• Account holder in writing, which shall be recorded, shall make “Notice”

stopping payment of any cheques.

Southeast bank provides the following types of current account-

Current account for individual

Joint current account

Proprietorship current account

Partnership current account

Company Account:

Association Account

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The customer shall have to submit the following documents to the bank at the time of

opening of the Current Account of Individual/Joint, Proprietorship, Partnership,

Company Account, Societies, Clubs, and Associations etc.

Current Accounts for individual

• Individuals can open an Account as a representative of the organizations.

• Individual have to show all the legal document of the business.

• Legal documents of the Board of Directors of the company providing authority to

the individual to open and administer the account in the name of the company.

Joint Current Account

A joint account should be opened only on receiving application signed by all the parties

involved in the account. While opening account banker should obtain mandate, which

should contain the following:

1.Drawing of cheques: A banker should acquire very clear instruction as to

weather all of them or some of them or any of them can draw on the account.

2.Power to overdraw: If such an authority has been delegated, the banker mustnecessarily establish joint and several liabilities.

3.Survivorship: As per ordinary rules, on the death of any one of the joint account

holder’s the survivor is entitled to get all the account.

4.Insolvency or death of joint deposit holder: In case of bankruptcy or death of

joint account holder, banker should stop the operation of the account.

5.Borrowings: In case of borrowing, all the joint account holders must make joint

demand signed by all.

Sole Proprietorship Current Account

The following documents are necessary at the time of opening a Sole Proprietorship

Current Account:

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1.Copy of valid Trade License.

2.An introducer who has an account in the bank.

3.2 (Two) copies of photograph attested by the introducer.

4.A citizenship certificate / photocopy of passport / Tax Certificate / Voter ID

card.

5.Initial deposit of Tk. 1000.

6.KYC form.

Partnership Account

A partnership account can be opened only when an application in writing is submitted

by one or more partner. For a partnership account the following requirement must be

considered:

1.Partnership A/C cannot be opened in the name of an individual partner.

2.A banker should get a written request from the entire partner.

3.Banker should go through the partnership deed and carefully study the objects,capital, borrowing power etc.

4.The mandate regarding the name of the person who is authorized to operate the

A/C be obtained.

5.When a partner retires from the business, notice of the retirement should be

given to the banker.

6.In case of partner death, if the A/C shows a debit balance the banker

immediately close the A/C.

7.Copy of Partnership Deed of the Firm (Registered / at least Notarized)

8.Firm Registration Certificate (if registered)

9.List of Partners with their addresses.

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10.Copy of valid Trade License.

11.Photograph (s) of signatories attested by the introducer.

12.A citizenship certificate / photocopy of passport / Tax Certificate / Voter ID

card.

13.Resolution of the partners of the firm for opening the account and authorization

for its operation duly certified by the managing partner of the firm.

14.Transaction profile.

15.KYC form.

Company Account

While opening A/Cs of company’s banker should obtain & examine the following

documents.

1.Certified copy of the Memorandum and Association of the Company.

2.Certificate of Incorporation.

3.Certificate of commencement of business (for public limited company).

4.Up to date List & Address of all Directors.

5.Boards Resolution to open the account & name of the persons who operate the

A/C.

6.Extract of the Resolution of the Board Meeting of the Company for opening the

account and authorization of its operation duly certified by the Chairman /

Managing Director of the company.

7.List of names and specimen of signatures of those persons authorized to operate

the account, duly certified by the Chairman/Managing Director.

8.Organogram of the company.


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10.KYC form.

Association Account

The following documents are necessary in opening an Association Account:

1.Certified copy of the constitution / By-Laws / Trust Deed / Memorandum and

Articles of Association.

2.Certificate of Registration of the Association / Club / Charity / Trust / Society for

inspection and return.

3.List of members of the Governing Body / Executive Committee of the Association /

Club / Charity / Trust / Society with their addresses.

4.Extract of the Resolution of the Club / Charity / Trust / Society for opening the

account and authorization of its operation duly certified by the Chairman / Secretary

of the Association / Club / Charity / Trust / Society with their addresses.


6.KYC form.

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SAVINGS ACCOUNT

Saving accounts are intended especially for the group who has the propensity to save.

They have been compensated a fixed interest on their reserves.

There are two types of savings accounts in the bank-(a) Individual savings account(b)

Joint savings account.

Features of Savings Account:

• Savings Account can be opened by the name of adult individual or jointly in the

names of two or more person.

• Any Clubs, Associations and similar Institutions can open this account by the

names.

• A client need to an initial cash deposit of Tk 2000.

• An account holder will get cheques book having a minimum balance in the

account.

• A Savings A/c depositor shall deposit money as often as he wishes.

• A depositor can withdraw from his Savings Bank Account twice in a week.

• Interest is applied on half yearly basis.

• Withdrawal without notice is allowed twice in a week or up to 25% of the balance

in the account subject to a maximum of Tk. 10.000/-. Withdrawal beyond the

maximum limit will require 7 days notice. Failure to give notice will entail in

forfeiture of interest for the month in which the withdrawal occurs.

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• Interest is allowed only on accounts bearing a minimum balance of Tk. 5,000/-.

• Statements of account dispatched to all Account Holders by the Bank on a

quarterly/half yarely basis.

• The account holders have to inform the Bank about every change of address

immediately for regularity of records.

• The Bank reserves the right to alter or introduce new rules at any time.

• A saving account holder is not allowed being overdrawn.

• Account holder can make “Notice” for stopping payment of any cheque.

• The Bank will accept "Standing Instructions" from the account holder.

• The interest rate on SB account is 6.00%.

Requirements for opening Savings Accounts:

• Account Opening Form

• Any individual having Bangladeshi citizenship. (Minimum 18 years old).

• In case of a Minor Account, copy of birth certificate and photograph is needed.

• In case of a Foreign Citizen, photocopy of passport with valid visa, QA-22, work

permit etc. is required.

• Specimen Signature Card.

• Nominee form and one copy of nominee (s) photograph (signature to be attested

by the account holder).

• Mandate or authority shall be obtained in case the customer wants to authorize

another person to operate the account.

• Two copies of recent photograph of the A/c holder and Mandate duly attested by

the Account Holder Copy of Passport/Nationality Certificate /Voter ID of the

persons operating the account.

• Transaction Profile.

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• KYC form.

SHORT TERM DEPOSIT ACCOUNT

Short-term deposit or STD account opening procedure is similar to that of the current

account. Withdraws from this type of account require a prior notice of seven days.

Requirements for Opening Short Term Deposit Accounts

To open a Short Term Deposit Account, Current Deposit Account Opening Forms are

used. The documents required for opening current A/C is also used in opening STD

accounts. In case of a STD A/C on the top of current deposit A/C opening form the

word - "Short Term Deposit Account" is written in block letters and the notice period is

noted on the Special Instructions column.

Rate of Interest for STD

• The rate of interest for bank is 4.5 %,

• For customer: below Tk. 5.00 crore is 6.00 % and Tk. 5.00 crore or above is 6.50 %.

• In case of mother account (IPO), rate of interest is fixed upon approval from

Head Office on case to case basis (generally it is 7.50 % - 8.00 %.)

FIXED DEPOSIT RECEIPT (FDR)

There are various fixed deposit schemes in Southeast bank ltd. The interest rate of the

deposited amount depends on duration and volume of the amount. If duration is long

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the interest rate is high and at the same time if the volume of amount is large the interest

rate is also high and vice-versa.

• Fixed Deposits are neither transferable nor negotiable.

• It can be opened singly or jointly.

• It can be opened in the name of a minor jointly with the guardian.

• It can be opened for a period of one month and above.

• Interest accrued on FDRs shall be paid only on maturity of the instruments.

• In case of pre-mature encashment of FDR, interest shall be paid as per the

circular to be issued by Head Office from time to time.

• Different amounts of FDR purchased on different dates by any depositor shall be

considered as separate deposits and rate of interest shall be applied as per the

prescribed rate sheet for those deposits.

• Payment of FDR shall be made on demand after the expiry of the maturity period

on presentation of FDR duly discharged by the depositor(s).

• If an FDR is issued to one individual, additional name(s) shall be added/

included in the FDR, at his request.

• If FDR is in joint names and request for adding additional name(s) comes from

one of the depositors, such change cannot be made without the consent of all

other depositors.

• Each time FDR is opened it shall be considered as a separate contract.

No. DurationBelow Tk. 1.00

crore

Tk. 1.00 crore &

above

01. 1 (one) month 8.00% 8.00%

02. 2 (two) months 8.50% 9.00%

03. 3 (three) months 12.75% 13.00%

04. 6 (six) months 12.75% 13.00%

05.

1 (one) year 13.00% 13.00%

Fund of Institutions, Private parties &

Govt. A/C : 7.00%-12.00%

(for Tk. 1.00 crore & above)

For Senior Citizen Scheme: 13.00%

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Table: Rate of Interest for FDR with different Maturity & Amount

SPECIAL SAVING SCHEME

The types of Special Purpose Deposits/Savings Schemes are:

1.Monthly Savings Scheme (MSS)

2.Monthly Income Scheme (MIS)

3.Pension Savings Scheme (PSS)

4.Double Benefit Scheme (DBS)

5.Educational Savings Scheme (ESS)

6.Savers Benefit Deposit Scheme (SBDS)

7.Marriage Saving Scheme (MSS)

8.Wage Earner Pension Scheme (WEPSS)

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MONTHLY SAVINGS SCHEME (MSS)

Southeast Bank offers “Monthly Savings Scheme” to its depositor with an attractive

savings plan. With this scheme the depositor can save on a monthly basis and this will

ultimately grow into a large amount of money. The scheme helps an investor to plan

his/her future in a better way.

Eligibility:

• Any person of 18 years age is welcome to open the Monthly Savings Scheme

account with the bank at any time of the month.

• One person can open more one MSS account.

Features of MSS

• Installment Size: Tk. 500/- or multiple up to Tk. 50,000/-

• Installment Term: 3 years or 5 years.

• Payment on Maturity:

Monthly Installment

(Tk. 500/- or multiple up

to 50,000/-)

Matured Amount (Tk.)

3 Years 5 Years

500/- 21,405/- 40,750/-

1,000/- 42,810/- 81,500/-

5,000/- 2,14,050/- 4,07,500/-

10,000/- 4,28,100/- 8,15,000/-

50,000/- 21,40,500/- 40,75,000/-

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Table: Monthly installment and total income on MSS

• Installment can be deposited by cash/cheque or can be deposited through a

standing debit instruction from the designated CD/SB account within 10th of the

month.

• MSS can be opened any time of the month. But if the account is opened after 10th

of any month in that case 1st installment shall be due from the following month

and shall be realized in the following month.

• An account holder can nominate one or more person(s) as his/her nominee(s).

• The investor can avail a loan of maximum 80% against the lien of the MSS

amount deposited.

• The investor can close his/her account before maturity.

• If the monthly installment remains unrealized due to insufficient balance for 4

consecutive months, the account will be automatically closed.

• A penal interest of 6% per month on monthly installment will be applicable if

sufficient balance is not deposited within 10th of the month.

• If the account is closed before maturity, the account will be settled as per the

following terms:

Relationship Rate of Interest

Less than 12 installments No interest

12or more but less than 36

installmentsPrevailing Savings rate

36 or more but less than 60

installments

3 years matured amount +

rest as per prevailing Savings

rate

MONTHLY INCOME SCHEME (MIS)

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Southeast Bank offers monthly income scheme to its depositor with an attractive

benefits. Under this scheme a fixed amount is deposited for 3 or 5 years and a fixed

amount will be added with the deposited amount after the end of each month.

Eligibility:

• Any person of 18 years age is welcome to open the Monthly Income Scheme

account with the bank at any time of the month.

Features of MIS

• Amount to be Deposited: 1, 00,000/- or it’s multiple.

• Term: 3 Years or 5 Years.

• Amount of Monthly Income:

•

Deposited amount will be returned on maturity.

• The applicant must open/have a CD/SB account with the branch in which

monthly income will be credited automatically.

• The account holder can avail Loan/Overdraft facility of maximum 80% against

the lien on the balance of the MIS account.

• An account holder may close the account at any time by a written application by

giving reasonable notice in writing to the branch concerned.

• If the account is closed before maturity, the account will be settled as per the

following terms:


Deposited AmountMonthly Income

3 Years 5 Years

Tk. 100,000/- or its

multipleTk. 975/- Tk. 1000/-

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After 6 months but within 1 yearPrincipal + preivailing

Savings rate of interest

After 1 year but within 3 years

Principal + simple interest @

0.5% above the Bank’s

prevailing Savings rate

After 3years but within 5 years

Principal + simple interest @

1% above the Bank’s

prevailing Savings rate.

PENSION SAVING SCHEME (PSS)

This special deposit product enables an investor to gradually build his/her desired

savings. This also offers a pension option to get monthly pension after maturity.

Eligibility

• Any individual having a sound mind is eligible to open a Pension SavingsScheme (PSS) at any working day of a month.

• In case of a minor, minor’s legal guardian can operate the account.

• A person can open more than one PSS account in his/her name.

Features of PSS

• Installment Size: Tk. 500/- or multiple up to Tk. 25,000/-

• Installment Term: 4 years, 6 years, 8 years & 10 years.

• Payment on maturity:

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• Theinvestor

can withdraw the matured amount after the maturity or his/her selected tenor or

the investor can choose the option of receiving pension for the next 5 years.

Monthly pension for different installments after maturity will be as follows:

DOUBLE BENEFIT SCHEME

Under this scheme, a deposit of Tk. 10,000/- or its multiple will be doubled in 6 Years.

Monthly

Installment

(Tk. 500/- or

multiple up to

25,000/-)


4 Years 6 Years 8 Years 10 Years

500/- 30,500/- 52,000/- 78,000/- 1,11,500/-

1,000/- 61,000/- 1,04,000/-1,56,000/-2,23,000/-

5,000/- 3,05,000/-5,20,000/-7,80,000/-11,15,000/

-

10,000/- 6,10,000/-10,40,000/

-

15,60,000/

-

22,30,000/

-

25,000/-15,25,000/

-

26,00,000/

-

39,00,000/

-

55,75,000/

-

Monthly

Installment

(Tk. 500/- or

multiple up to25,000/-)

Monthly Pension Amount for Next 5 Years

after Maturity

On 4-yr

Scheme

On 6-yr

Scheme

On 8-yr

Scheme

On 10-yr

Scheme

500/- 635/- 1,080/- 1,620/- 2,315/-

1,000/- 1,270/- 2,160/- 3,240/- 4,630/-

5,000/- 6,350/- 10,800/- 16,200/- 23,150/-

10,000/- 12,700/- 21,600/- 32,400/- 46,300/-

25,000/- 31,750 54,000/- 81,000/- 1,15,750/-

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Eligibility

• A person of 18 to 60 years can open DBS account.

• DBS account can be opened in the name of a minor. In that case the minor shall

be followed by his/her nominee.

• DBS account can be opened in joint names or in the name of any institution.

• A person can open more than one DBS account.

Features of DBS

• Deposited amount: Tk. 10,000/- or it’s multiple.

• Investors’ deposit of Tk. 10,000/- or its multiple will be double in 6 years.

• The scheme is admissible for any individual (singly or jointly) or institution.

• The Scheme is covered by Insurance and the Insurance Premium shall be borne

by the respective branches.

• A passport size Photograph of each account holder is required to open the

account.

• DBS account can be opened at any working day of the month.

• If any depositor intends to withdraw his deposit before maturity he will not get

any interest for the pre-mature encashment within one year.

• If the account is closed /encased after one year he will get normal saving rate of

interest.

• The account holder can avail credit card facility of maximum 80% against the lien

of the deposited amount to meet emergency expenses.

EDUCATIONAL SAVINGS SCHEME (ESS)

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Under this scheme, an investor can save for his/her children’s education. Client can open

maximum three accounts for his nominated children.

This deposit product is aimed at attracting those valued clients who want to save for the

study of their children.

Eligibility

• The applicant should be of minimum of 18 years of age, being of sound mind and

a Bangladeshi national.

• The applicant can open a total of 3 ESS accounts.

Features of ESS

• Monthly installment:

Tk. 500/- for 5 years


• Tenure: 5 years/10years

• The monthly installment must be paid by the 10th day of every month or else it

will be considered as a defaulted installment.

• Installments can be paid by cheques or through a standing instruction to debit

the SB/CD account (of the ESS holder).

• In case of delay, a fine of Tk. 2 per day of defaulted installment will be charged

and the fine must be paid along with the installment.


• In case of pre-matured withdrawal:

Monthly

Installment

Money at the end

of 5 years period

Money at the end

of 10 years period

500/- Tk. 40,000/- Tk. 408,000/-

1,000/- Tk. 80,000/- Tk. 216,000/-

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Limitations of ESS account:

• Joint account is not allowed

• The installment quantum and the tenure of the scheme, once started, cannot be

changed.

• The account holder can pay a maximum of Tk. 1000/- as installment and the

scheme can be for a maximum period of 10 years.

SAVERS BENEFIT DEPOSIT SCHEME (SBDS)

Southeast Bank starts a new scheme named “Savers Benefit Deposit Scheme”. In this

scheme a client can open account of Tk.50,000 or multiple up to 25,00,000 in single name

or Tk.50,00,000 in joint name. This saving is very profitable. After 8 years deposited

amount will be double. In this scheme one can withdraw money before maturity with

profit.

In case of withdrawal before maturity SBDS holder will get following rate of profit for

withdraw of Tk. 50,000.

Maturity (Years) Total Amount with profit at the time

of pre maturity withdraw

1 Years 54,000.00

2 Years 59,000.00


Withdrawal before 6 moths No interest

Withdrawal within 6 to 12

months7.5 %

Withdrawal within 1 to 3 years 8.5 %

Withdrawal after 3 years 9 %

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3 Years 65,000.00

4 Years 72,000.00

5 Years 79,000.00

6 Years 89,000.00

7 Years 99,000.00

8 Years 1,10,000.00

MARRIAGE SAVING SCHEME (MSS)

Maximum three accounts can be opened by client for his nominated children.

Eligibility:

• The applicant should be of minimum of 18 years of age, being of sound mind and

a Bangladeshi national.

• The applicant can open a total of 3 ESS accounts.

Features of ESS:

• Monthly installment:


Tk. 1000/- for 10 years• Tenure: 5 years/10years

• The monthly installment must be paid by the 10th day of every month or else it

will be considered as a defaulted installment.

• Installments can be paid by cheques or through a standing instruction to debit

the SB/CD account (of the ESS holder).

• In case of delay, a fine of Tk. 2 per day of defaulted installment will be charged

and the fine must be paid along with the installment.


Monthly

InstallmentMoney at the end

of 5 years period

Money at the end

of 10 years period

500/- Tk. 40,000/- Tk. 408,000/-

1,000/- Tk. 80,000/- Tk. 216,000/-43


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• In case of pre-matured withdrawal:

Limitations of ESS account:

• Joint account is not allowed

• The installment quantum and the tenure of the scheme, once started, cannot be

changed.

• The account holder can pay a maximum of Tk. 1000/- as installment and the

scheme can be for a maximum period of 10 years.

WAGE EARNER PENSION SCHEME (WEPSS)

This product is aimed at attracting Non-Resident Bangladeshi who are working abroad

and interested to save in small installment so that a large amount of money can be

gained in future.

Eligibility:

• Any Non-Resident Bangladeshi of 18 years or above age can open this account.

• An attested copy of passport and a copy of resident card/job certificate/salary

certificate is required to submit with the application.

• A person can open more than one WEPSS account.


Withdrawal before 6 moths No interest

Withdrawal within 6 to 12

months7.5 %

Withdrawal within 1 to 3 years 8.5 %

Withdrawal after 3 years 9 %

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• To operate WEPSS account, the client must open a “Non-Resident Taka Account”

with the Bank’s nominated branch.

• Installments of WEPSS can only be transferred through authorized Remittance

Agent to the “Non-Resident Taka Account”, from where it will be accumulate in

WEPSS account within 15th of every month.

Features:

• Monthly installment: Tk. 1000/- or it’s multiple up to Tk. 25000/-

• Tenure: 4 years/6 years/8 years/10years.

• Matured Amount:

• Investors can withdraw the amount after maturity or they can avail the Pension

facility for the next 5 years. Pension at different maturity are given below:

MonthlyInstallment

(Tk. 1000/- or

multiple up

to 25,000/-)


4 Years 6 Years 8 Years

10 Years

1,000/- 59,700/- 1,00,700/- 1,50,000/- 2,12,700/-

5,000/- 2,98,500/- 5,.03,500/- 7,50,000/- 10,63,500/-

10,000/- 5,97,000/- 10,07,000/- 15,00,000/- 21,27,000/-

15,000/- 8,95,500/- 15,10,500/- 22,50,000/- 31,90,500/-

20,000/- 11,94,000/- 20,14,000/- 30,00,000/- 42,54,000/-

25,000/- 14,92,500/- 25,17,500/- 37,50,000/- 53,17,500/-

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• Advance payments of installments are available.

• If the client comes back Bangladesh before the maturity of WEPSS account, the

account will be active as long as the installment amount can be collected from the

“Non-Resident Taka Account”.

• The account will be closed in failure of payment of 5 consecutive installments.

• In case of premature closure of the account, pension facility is not available.

• For premature closure of the account:

Monthly

Installment

(Tk. 500/- or

multiple up

to 25,000/-)

Monthly Pension Amount for Next 5 Years after Maturity

On 4-yr

SchemeOn 6-yr

Scheme

On 8-yr

Scheme

On 10-yr

Scheme

1,000/- 1,250/- 2,110/- 3,140/- 4,460/-

5,000/- 6,250/- 10,550/- 15,700/- 22,300/-

10,000/- 12,500/- 21,100/- 31,400/- 44,600/-

15,000/- 18,750/- 31,650/- 47,100/- 66,900/-

20,000/- 25,000/- 42,200/- 62,800/- 89,200/-

25,000/- 31,250/- 52,750/- 78,500/- 1,11,500/-

No. of Installments Rate of Interest

Less than 12 installments No interest

More than 12 but less than

48 installmentsPrevailing Savings rate

More than 48 but less than72 installments

4 years matured amount + rest as per prevailingSavings rate


96 installments

6 years matured amount + rest as per prevailing

Savings rate


120 installments

8 years matured amount + rest as per prevailing

Savings rate

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ISSUANCE AND DISBURSEMENT OF CHEQUES

Issuance of Cheque Books:

The Cheque Book shall be processed in the following manner:

o The leaves of the Cheque Book under issue shall be counted to ensure that all the

leaves and the blank Requisition Slip are intact.

o The name and Account number shall be written properly on the Cheque Book

cover and it’s Requisition Slip.

o The Account number shall be entered on all the leaves of the Cheque Book with

an initial of the issuing Officer.

o The name and the A/C number of the customer shall be entered in the Cheque

Book issue requisition against the particular Cheque Book series.

o Cheque Book shall be delivered to the customer at the counter against their

acknowledgment on the Requisition.

o Cheque Book can be delivered to the bearer only upon obtaining a letter of

authority issued by the account holder.

o After issuing the Cheque Book the Requisition Slip shall be sent to the system for

recording the Cheque Series.

Disbursement of Cheques:

a)Before posting the instruments in the system, the instruments shall be scrutinized

and checked by the Officer concerned thoroughly.

b)In case of Cash Cheques, the following aspects shall be ensured:

o Account number and title of account on the Cheque match with the account

number and title of account given in the system.

o Number of Cheque tallies with the Cheque series noted in the account.

o Stop payment/ other instruction regarding operation of the A/C has been

checked.

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o The Cheque is drawn on the Bank and Branch, where it is presented for payment

o The Cheque is an open Cheque or not.

o Be sure that the Cheque is not postdated or backdated.

o The amount in words and figures tally.

o The Cheque is duly signed by the drawer.

c)In case of DD/PO similar procedure shall be allowed as explained above. Besides,

demand draft may be encashed upon written approach of the issuing branch and

proper identification of the payee/beneficiary.

d)In case of Cash Debit Voucher, the following steps shall be followed:

o It is signed by the authorized Officer/MO along with HOB.

o It is signed by the payee on the reverse.

e)In case of Clearing Cheque, it shall be ensured that:

o Collecting Bank's Clearing Stamp is affixed on the face of the Cheque and bears

correct date and is presented in the 1 st or 2nd clearing as stamped.

o If crossed in favor of a Bank it has been presented through that Bank or its agent.

o The collecting Bank's discharge is in order.

o Other points are similar to those explained in foregoing paragraphs.

f)In case of Transfer Cheque, it shall be ensured that:

o The Transfer Stamp is affixed on the face of the Cheque.

o Collecting Branch's discharge is in order.

o Other points are similar to those explained in foregoing paragraphs.

g)In case of vouchers, it shall be ensured that:

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o It bears the appropriate stamp with correct date.

o Authorized Officer (s) signs it.

o Amounts in words and figures tally.

o Account number and title of account tally.

h)Before posting in the system it shall be ensured that the balances of the previous day

have been checked and initialed by an Authorized Officer.

i) It shall be ensured that no Vouchers or Cheque has remained un-posted at the close

of business.

Cancellation of Cheques:

1.The cancellation Officer shall accept only those Specimen Signature Cards for

custody, which bear the full signature of the Authorized Officer duly admitted. All

Specimen Signature Cards shall be admitted by the Authorized Officer on verifying

the Signature of the account holder from the Account Opening Forms.

2.All Specimen Signature Cards shall be arranged in a serial order of their account

number.

3.Before verifying a signature on a Cheque, the Cancellation Officer shall invariablyrefer to the scanned Specimen signature of the drawer of the Cheque.

4.In case signature differs, Cheques shall .not be passed unless the drawer's

confirmation and current signature is obtained.

5.If parties have changed the style of their signatures, fresh signatures shall be

obtained on the Specimen Signature Cards approved by the Authorized Officer along

with a letter of request before passing the Cheque and the old Signature Cards

should be treated as canceled giving date and retained with the Specimen Signature

Cards.

6.Cancellation Officer shall not pass any Cheque unless the Cheque is posted in the

account and initialed by the system Officer.

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7.The cancellation shall be done by waiving a red line across the signature of the

drawer of the Cheque. The Cancellation Officer shall sign in full in red ink near the

drawer's signature.

8.In case of payment of Cheques is in cash, "Pay Cash" stamp shall lie affixed on the

Cheque, and signed by the Cancellation Officer.

9.The Specimen Signature Cards of all closed accounts shall be marked "Account

Closed" and kept separately under lock and key.

When Cheques are returned unpaid?

a)Cheques may be returned for any of the following main reasons:

• Account closed• Payee's endorsement required

• Insufficient Fund

• Amount in figure and word differs

• Cheque out of date / post dated

• Drawer's signature differs

• Payment stopped by drawer

• Crossed Cheque to be presented through a Bank

• Cheque alteration / mutilation requires drawer's full signature

b)Cheque returned unpaid by the Bank for any reason shall be sent to the accountholder, with a Cheque Return Memo duly filled in and signed by an Authorized

Officer.

c)If the amount of Cheque presented for payment, exceeds the credit balance/drawing

power/Overdraft limit of the account holder, a search shall be made to various

Departments to know the position of any available credits to be released for the

account.

d)The particulars of the Cheque and the reasons for return shall be noted in the

"Cheque Return Register".

e)No Cheque shall be returned without prior permission from the

HOB/MO/GB/Deposit In charge.

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ATM CARD

The acronym ATM isAutomated Teller Machine. It is, in fact, a debit card. If any client

has satisfactory balance in his account then he can withdraw money from this appliance

any time, any day.

The process of this system is, the customer has to fill the application form and then it is

sent the Head Office. From head office a card is issued with a very confidential password

that even the banker does not know. For this Tk.500 is debited from the customers

account per year. The customer places in the card into the machine and provide the

password then he can do his activities. It is a 24 hours service system.

CREDIT CARD

Credit card is a card, which provides one kind of loan. Whenever the customer uses the

card he has to pay interest for that amount which he with drowned.

•

For this card the customer has to pay a service charge every year and to payinterest on that amount which the customer withdrawal.

Features:

• Types : Gold Card & Classic Card

• Dual Card: SEBL VISA dual card offers the facility to access both a client’s local

and international spending limit through a single plastic. Therefore, there is no

need to carry separate local and international credit cards.

•

Acceptance : An International / Dual card is accepted at millions ofestablishments across the world and a Local/ Dual VISA Card is accepted at

10,000 outlets across the country including shops, restaurants, 5 star hotels,

hospitals, departmental stores etc.

• Credit Facility: Free credit facility up to 50 days without any interest.

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• Cash Advance: Facility to draw cash up to 50% of the credit limit against the local

VISA Card. Clients can withdraw cash from all SEBL branches and ATMs having

VISA Logo.

• Supplementary Cards: Client may apply for Supplementary Cards. While each

supplementary member will have his / her own independent usage, the

expenses will be charged to the client’s (Principal Cardholder's) account.

• Card Cheque: The client can draw cheque up to the available balance in his/her

card account.

• Cardholders can settle their Grameen phone post paid bills giving Auto Debit

instruction to Southeast Bank Card Division.

Interest:

• Any amount outstanding after the Payment Due Date will attract an [email protected]% per month calculated on a daily basis.

• In case of cash advance, the interest @ 2.5% per month will be charged until cash

advance transaction is paid in full. Cash Advance Fee @2% or Tk. 100.00

whichever is higher for local card or @ 2% or USD. 3 whichever is higher for

International Card.

ON-LINE BANKING

Southeast Bank Limited is first bank in the country using satellite based most modern

VSAT technology for providing Real Time On-line any branch Banking service to its

customers. Any customer of this bank can avail the following facilities from its branches.

Cash withdrawal and cash deposit:

Any customer of the bank can draw or deposit money from/to his/her account from any

branch of this bank. The respective account will be debited or credited instantly.

Balance Inquiry:

Any customer can check his/her up-to date account balance from any of the branches of

this Bank.

Account Statement:

It is possible to get up-to date account statement on-line from any of the branches of this

bank.

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Instant Fund Transfer:

Instead of TT, a person can transfer funds instantly from his/her account to any other

account/accounts maintained with any of the branches of Southeast Bank Limited.

UTILITY BILL PAYMENT

Southeast Bank Ltd. offers a multimode utility bill (Cellular phone bill, telephone bill

etc.) payment for its customer. Grameen phone bills are accepted at all branch of the

bank.

Safe Deposit Locker

The Bank provides Safe Deposit Locker Services to the clients of selected branches as

decided by Head Office from time to time. These branches are equipped with the

required safe deposit lockers for hiring out to the clients.

• Billing and Accounting:

Annual rentals and other charges of a Locker are payable in advance. Locker charges

are to be realized as per rates prescribed by Head Office from time to time. The

security money is refundable only on withdrawal of the Locker service and

surrender of the key by the client.

• Surrender of Locker:

When the clients surrender the locker he/she must sign the final access slip. The

inside space of the locker should be examined in presence of the client and recorded

on the history card duly authenticated. The client should surrender the key and the

client will sign clauses on the contract card. Then the card will be stamped with a

Cancelled stamp duly authenticated and placed in the closed file with all other

relevant papers.

Locker Services Yearly Charge Security Deposit

Small Tk. 750/=

Tk.2,500/=(Refundable) for all types

of lockers.Medium Tk. 1,250/=

Large Tk. 2,000/=

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SMS BANKING

Because of the widespread implementation of E-Commerce, Southeast Bank Limited, in

recent years, has introduced SMS Banking facility.

Terms and Conditions of SMS Banking:

1.Registration form must be completed and submitted to the branch, where the

account(s) is maintained.

2.To reactivate the stopped SMS Banking Service or to know the existing PIN (i)

Client has to answer correctly against secret questions that he/she filled up

during registration or (ii) By filling up the Registration Amendment Form.

3.Stop Payment and Cheque Leaf Reactivation for Payment services will be

available during office hour only. Account Statement Request is limited for

previous 6 (six) months only.

4.Reply SMS charges are monthly payable with 15% VAT. If account holder does

not pay due SMS charges for consecutive 3 (three) months, SMS service will be

discontinued.

The various types of services available under SMS Banking facility are as follows:

1.Pull Services:

• Account Balance Inquiry

• Last 3 Transactions

• Cheque Leaf Status

• Interest Rate for different deposit products

• Foreign Currency Exchange Rate

• Branch Location/Telephone No.

• ATM Booth Location

• SMS Registration information

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• Help list of Keywords to send SMS

• Help message format to send SMS

2.Request Services:

• Fund Transfer

• Mobile Bill Payment

• Cheque Book Request

• Account Statement Print Request

• Account Statement Request by Courier

• Account Statement Request by E-mail

3.Execution Services:

• Stop Payment

• Stopped Cheque Leaf Reactivation

• PIN Change

4.Alert Services:

• Debit Alert

• Clearing Cheque Return Alert

• Loan / Time / Scheme Deposit Maturity Alert

Charges (excluding VAT & AIT)in Taka:

Servic

eCode

Service Name Execution

Charge

Charge per

Reply SMS

Other Charges

A Pull Services - 3.00 -

201 Fund Transfer 50.00 3.00 -

202 Mobile Bill Payment 25.00 3.00 -

203 Cheque Book Request - 3.00 Charge for

cheque book

204 Account Statement

Print Request

- 3.00 5.00/ page


Request by Courier

- 3.00 5.00/page +

courier charge


Request by E-mail

25.00 3.00 -

C Execution Services - 3.00 -

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D Alert Services - 3.00 -

DEPOSIT GROWTH

The Bank’s deposit stood Tk. 55,474.05 million as on December, 2007 compared to Tk. 46,

056.18 million in 2006, thus, recording 20.45% growth. Competitive interest rates,

attractive deposit products, deposit mobilization efforts of the Bank and confidence

reposed by the customers in the Bank contributed to the notable growth in deposits.

DEPOSIT

MIX

The Bank evolved a number of attractive Deposit Scheme to cater to the requirement of

small and medium savers. This improved not only the quantum of deposits but also

brought about qualitative changes in deposit structure. The deposit mix of the Bank as

on December 31, 2008 was as follows:

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DEPOSIT GROWTH OF SEBL, LDP BR.

From the analysis of the year-end Balance Sheet of SEBL, LDP Br. it has been found that,

the total amount of deposit had shown an upward movement during the period of 2003

to 2007. Increase customer service, introduction of new deposit products, extension of

operation to cover a wide range of customers etc. are the main reasons for this upward

swing.

DEPOSIT MIX OF SEBL, LDP BR.

From the available data, it has been found that, the Fixed Deposit Accounts are holding

the major proportion of Deposit Mix of the Laldighir Par Branch of SEBL, with a 73%

share of the total deposit. The next major type of deposit is Savings Deposits with a

share of 15% of the Deposit Mix, followed by Short Term Deposits (7%). In Sylhet, People

generally don’t want to take more risk, for this reason, they just hold money in fixed

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deposits. We also know that in Sylhet, foreign remittances are always increasing. Rather

than investing in different sectors people hold money for security.

TOTAL NO.OF ACCOUNTS &THE SUB-GROUPS

An analysis of the available data revealed that, the Laldighir Par Branch of SEBL

currently holding a total of 8,239 different types of accounts, amounting Tk.

147,92,41,096.93/=

Types of Accounts Total

Accounts

Total Amount

Current Account 2232 44488056.33Savings Account ( included Savings- Staff) 4323 214982582.78

Short Term Deposits 47 102079240.78

Fixed Deposits Receipt 818 1074257564.68

Pension Saving Scheme 549 11100830.33

Marriage Savings Schemes 4 329436.56

Educational Savings Schemes 7 728200.83

Monthly Savings Scheme 177 5258178.48

Double Benefit Scheme 80 21751775.36

Savers Ben. Dep. Scheme 1 665230.80

Monthly Income Scheme 1 3600000.00Total 8, 239 147,92,41,096.93

Table 7: Total numbers of accounts available in SEBL, LDP branch as on A

Documents

Internship Report on Southeast Bank Ltd - A Study on Customer Satisfaction of SEBL