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Prelude:The report has been prepared after three months long on the job study in Banani Branch of
BRAC Bank Ltd. In the introductory part of the report, the objectives, methodology, and
limitations of the study are mentioned. The company profile is given in chapter two. Chapter
two is deal with my job experience in BRAC Bank Ltd. I also discuss my critical observation
and give some recommendation at the end of chapter three.
The internship report is prepared in different way based on the personal observation in
customer service department. I have tried to show the things, which are being done in customer
service department of this branch. The knowledge, which has been acquired in my practical
orientation period, I have tried my level best to show in this report.
1.1 Objective of the studyEvery task has a particular aim. A study without objective cannot reach the destination. My
internship program was also directed to some particular targets. The main objective of the
study is to gain practical knowledge and experience on retail product management. The
specific objectives are written down bellow:
To know the overall retail product management,
To know the functions of retail banking of BRAC Bank Ltd,
To identify the customer serving systems of the bank,
The know the existing customer satisfaction,
To recommend the way to overcome the various problems in retail product
management.
1.2 Scope of studyThis report will give a clear idea about ‘Retail Product Management in the BRAC Bank Ltd.”
How many retail products does BRAC bank have? How they satisfy their customers? What is
the satisfaction level of the customers? What are the aims of next
Retail Product Management Of BRAC Bank Limited, Banani Branch 1
new that the bank provides? To have answers of all these questions, I tried to go through the
brochures of different products of BRAC Bank Ltd thoroughly, had discussions with officials
and customers. So I think this report will give a clear picture of customer satisfaction level of
BRAC Bank Ltd. And different leakages in retail product management of BRAC Bank Ltd and
how to overcome these leakages.
1.4 Importance of the study The study helps us to gain hands on knowledge in the retail banking products. The study has
enormous implication to develop the appropriate product management system in commercial
banks where the product management system is unorganized. The management of BRAC Bank
Ltd can use the findings and recommendation for their policy making and organizational
development purpose. It will help them to introduce a new dimension of strategic marketing in
banking sector of Bangladesh. Above all, the study has academic implications, which indicate
the academicians can develop them in this field in Bangladesh taking this study as an initiative to
study the customer banking product management in Bangladesh.
1.5 MethodologyThe three months internship program was basically executed by observing the daily activities
of the staffs and working in progress. The relevant information is collected from the primary
sources and also uses the secondary sources of information.
Primary data are collected through:
Observation for the total internee period
Open ended and close ended questions
Conducted interview both customers and stuffs of the branch
Face to face contacts with the officers
Secondary data are collected through:
Manuals of BRAC Bank Limited
Website browsing
Retail Product Management Of BRAC Bank Limited, Banani Branch 2
Data gathered within the organization (BRAC Bank) itself
Bank’s other published information.
1.6 Limitations of the study
I have tried to present the paper with a very cautious approach. To prepare the report I had to
gather different relevant books, brochures etc. of the concerned bank. To prepare this report I
had to face the following constraints:
Time: I have seen that it is hard to do the office job and prepare the report at the same time. To
conduct data I had to visit different libraries and offices, but I used to work in the office from
9:00 to 6:00 PM. Therefore, it was very tough to arrange the time for report writing and data
collection.
Information: Through I had been coordinating well by the BRAC Bank officers; sometimes it
seems to me that I had not been provided all information needed.
Retail Product Management Of BRAC Bank Limited, Banani Branch 3
2.1 About BRAC Bank LimitedCreating opportunities and pursuing market niches not traditionally met by conventional banks
primarily drive BRAC Bank Ltd, a full service commercial bank with local and international
shareholding. BRAC Bank has been striving to provide “best- in –the-class” services to its
diverse range of customers spread across the country under an on-line banking platform.
Today, BRAC Bank is one of the fastest growing banks in the country. In order to support the
planned growth of its distribution network and its various business segments, BRAC Bank is
currently looking for ambitious, goal oriented, enthusiastic, individuals for various business
operations.
The reason BRAC Bank is in business is to build a profitable and socially responsible financial
institution focused on markets and businesses with growth potential, thereby assisting BRAC
and stakeholders build a :just, enlightened, healthy, democratic and poverty free Bangladesh.
This means to help make communities and economy of the country stronger and to help people
achieve their dreams. They fulfill the purpose by reaching for high standards in everything they
do for their customers, their shareholders, their associates and their communities upon, which
the future prosperity of their company rests.
They all know that how important it to choose the right career and employer, and that’s the
reason why they want to give you the clearest possible information about their organization.
Retail Product Management Of BRAC Bank Limited, Banani Branch 4
2.2 Background of BRAC Bank LimitedBRAC Bank Ltd is a scheduled commercial bank in Bangladesh. BRAC Bank committed its
business operation on 4th July 2001, in Dhaka, Bangladesh. This bank is mainly owned by the
largest NGO in Bangladesh-BRAC (Bangladesh Rural Advancement Committee). The bank
has positioned it self as a new generation bank with a focus to meet diverse financial needs of
the economy.
Formation and status of the bank:
BBL is established under the banking companies act, 1991 and incorporated as a public limited
company by shares on 20th May 1999 under the companies act, 1994 in Bangladesh. The
primary objective of the bank is to carry on all kinds of banking businesses. The bank has
started its operation on 4th July, 2001 by special permission of Supreme Court.
Shareholders of BRAC BANK Ltd: The shareholders of BRAC Bank are as follows: NAME NO. OF SHARE AMOUNT (TK) %BRAC 3173900 317390000 63. 478%International Finance Corporation (IFC)
875700 94980000 18. 996%
Shore Cap International Ltd. 949800 87570000 17. 514%Others 600 60 0. 012%TOTAL 5000000 500000000 100%
Branches: There are 26 branches of BRAC Bank Ltd through out the country. 14 of them are
inside Dhaka city, 1 in Comilla, 3 in Chittagong, 6 in Sylhet, 1 in Rajshahi and 1 in Khulna.
But at the end of this year, the target of BRAC Bank to reach 50 branches through out the
country.
Major banking operation:
BRAC Bank has a centralized banking structure through online banking system that resembles
the ABN AMRO model. BRAC Bank consisted of four divisions namely- Retail Banking,
Small and Medium Enterprise Division, Corporate Banking, and Treasury Division.
Retail Product Management Of BRAC Bank Limited, Banani Branch 5
2.3 MissionBRAC Bank will adhere to higher professional and ethical business principles are
internationally acceptable banking and accounting standards.
Every BRAC Bank professional will need first of all a commitment to excellence in all that
he/she does, a keen desire for success, a determination to excel and a drive to be the best. They
will individually and jointly learn continuously from customers and professional colleagues
around the globe to improve the way they do business so that they are the best. They will walk
that extra mile enthusiasm and empathy to serve their customers succeed in their business and
remain loyal to their bank. They will set up goals for themselves and then exceed the goals that
they set up.
2.4 VisionBRAC Bank will be a unique organization in Bangladesh. It will be a knowledge based
organization where the BRAC Bank professionals will learn continuously from their customers
and colleagues to add value. They will work as a team, stretch themselves, innovate and break
barriers to serve customers and create customer loyalty through a value chain of responsive and
professional service, business prudence, efficiency and adding value will be the operative
words of the organization.
BRAC Bank will serve their customers with respect and will work very hard to instill a strong
customer service culture throughout the bank. It will treat its employees with dignity and will
build a company of highly qualified professionals who have integrity and believe in the bank’s
vision and who are committed to its success. BRAC Bank will be a socially responsible
institution that will not lend to businesses that have a detrimental impact on the environment
and people.
2.5GoalsBRAC Bank will be the absolute market leader in the number of loans given to small and
medium size enterprises, salaried persons, teachers, students, highfliers, businessmen etc.
through out Bangladesh. It will be a world class organization in terms of service quality and
establishing relationship that help its customers to develop and grow successfully. It
Retail Product Management Of BRAC Bank Limited, Banani Branch 6
will be the bank of choice both for its employees and its customers, the model bank in the part
of the world.
2.6 Principles of BRAC Bank Ltd.Like every organization BRAC Bank has also some principles. These are:
Outstanding customer service
Effective and efficient operation
Strong capital liquidity
Aggressive leading policy
Strict expense discipline
2.7 Special Features Inter-branch transaction (online)
Customer oriented loan
Corporate banking
Cash management
ATM and BPM service
Locker service
Priority banking
2.8 Business Areas of BBLThere are mainly three major business areas where the BRAC Bank Ltd is performing with
high reputation. These areas are:
Retail banking
Corporate banking
Small and medium scale enterprises (SME)
Since I completed my internship on retail banking, it would be convenient for me to focus on
retail banking of BRAC Bank only.
Retail Product Management Of BRAC Bank Limited, Banani Branch 7
2.9 Retail banking divisionThe retail banking division in BRAC Bank is very implicit and vast comparing to other banks
in the country today. The personnel of BRAC Bank are devoted to give their best effort to
satisfy their customers. So BRAC Bank serves its customers with respect and works very hard
to instill a strong customer service culture throughout the bank. They always try to introduce
more new and attractive products to go close to their customers.
Retail Banking is known as general banking where the individual customers get services time
to time from the local branches of the larger commercial banks. In BRAC Bank Retail section
has been divided into two parts –
1. Distribution – Serve the acquired customers
2. Sales – Business acquisition
They both are interdependent and work closely with each other. Retail offers different types of
competitive banking products to the customers. The retail division of the BRAC Bank also
offers some special types of deposits and loan scheme for the customer attention. At present
BBL offers various attractive products:
2.10 Products and service offeringRetail products offered by BRAC Bank Ltd are classifies into three ways. They are:
Retail Product Management Of BRAC Bank Limited, Banani Branch 8
Loan Products
Deposit Products
Cards
Fig: Products and services offered by BRAC Bank Ltd
2.10.01 Retail Products of BRAC Bank Ltd:
Loan Products: Doctor's Loan
Salary Loan
Now Loan
Car Loan
Teachers’ Loan
Study Loan
Travel Loan
Credit card Loan
Top Up Loan
High Flyer Loan
Secured Loan/ OD
Deposit Products: Fixed Deposit
Interest First Fixed Deposit
Abiram Account
DPS
Ezee Account
Saving Account
Current Account
Salary Account
Business Account
Femina Account
Retail Product Management Of BRAC Bank Limited, Banani Branch 9
Cards: ATM/Debit Card:
- VISA ATM Debit Card Features
- ATM Locations
- Lost Card/Card Replacement
- Helpline
Co- Branded Cards:
- Aarong Card
- ALICO Card
- DIA Gold Card
Other Services: Locker Service
Credit Cards.
Some other Services: Non- Stop Banking:
- SMS Banking
- Direct Internet Banking
- Phone Banking
Retail Product Management Of BRAC Bank Limited, Banani Branch 10
2.10.02 Features of Customer Products of BRAC Bank Ltd.
Loan Products:
1. Doctor's Loan: BRAC Bank introducing Doctor's Loan, an exclusive loan facility for the Doctor's fraternity.
Now practicing Doctor's can avail this loan very easily to meet their professional needs.
Eligibility
Having M.B.B.S. with 2 years of experience
A salaried or a self employed Doctor's
Aged between 25 to 55 years
Maximum Amount
Taka 15 Lac
Features
Loan from BDT 2 Lac to BDT 15 Lac
No Security Required
Loan in 48 Hours
2. Salary Loan:A salaried individual working in Bangladesh can keep an extra 15 month's salary to his pocket
with the help of BRAC Bank Salary loan, Loan against his salary Because BRAC Bank has
been designed the concept of Salary Loan keeping the customers into their mind..
Eligibility
Employed as a regular salaried staff
Have minimum age of 25 years, max - 53 years (at the time of application)
If you earn a gross monthly salary of Tk. 10,000
Maximum Amount
Anywhere between 1.5 lac to 10 lac (maximum)
Retail Product Management Of BRAC Bank Limited, Banani Branch 11
Features
Loan up to 15 times of your Salary
No collateral of cash securities
Loan processed just within 24 hours
Flexible repayment Equal Monthly Installments (EMIs) over a period of 12 months to
60 months
Person with salary account with BRAC Bank will enjoy 1% less than the prevailing
interest rate
Documents required
Last 3 month's bank statement
Last salary slip/Letter of introduction
Proof of identity
Proof of residence
Proof of employment of minimum 2 years at the current organization
3. NoW Loan:The concept of NoW lone described by BRAC Bank as 'You choose while we pay'!! Life is
good making it better when the customer can enjoy BRAC Bank NoW Loan. In case a person
need to purchase home appliances, furniture's, computer or other consumer durables for
personal use, the bank offer him the most appropriate solution with the NoW loan.
Eligibility
Letter of Introduction
BRAC Bank account holder aged from 25 to 55
A salaried employee with minimum monthly income of TK 10, 000
Employed in your current organization for two years
3 months Bank statement (latest)
Pay slip required if salary paid in cash
For Business person
Retail Product Management Of BRAC Bank Limited, Banani Branch 12
TIN
Business proof - 2 years
3 months personal and company Bank statement
Permanent address must be where you operate
Maximum Amount
15 times of gross monthly income
Features
No Collateral / Cash Security
72 Hour Processing
Small Monthly Installments
Family members guarantee
4. Car Loan BRAC Bank Car Loan can stop a customer dreaming and Start driving. Whether the customer
wants to purchase a brand new car or a reconditioned one, the bank has the most customer-
friendly car loan scheme available
Eligibility
Both salaried executives and business persons
Age between 21 at the time of application to 60 at the time of maturity
Minimum monthly income BDT 25,000
Length of service/Age of business: Minimum 2 years
Maximum Amount
100% of the vehicle price
Maximum BDT 2 million
Features
100% Car value financing
Loan status in 72 hours
Both unregistered Brand New/Reconditioned car finance, Loan term: 12-60 months.
Retail Product Management Of BRAC Bank Limited, Banani Branch 13
* This
figure
is indicative and can change over time
5. Teachers’ Loan: 'Honest profession, Honest Service'. BRAC Bank Teachers' Loan provides a wedding or a
dream holiday, financing a business or surviving an emergency, Teachers Loan can be
applicable just within three days of application!
Eligibility
A teacher of any reputed school or university
Have a minimum length of service record of at least two years
Have a minimum net salary of Tk. 5000
Have a minimum age of 23 years
Maximum Amount
10 times of your gross monthly salary
The loan amount stretches from Tk. 50,000 to Tk. 10,00,000 (maximum)
Features
Fastest Processing Time
Small Monthly Installments
Minimum Loan Documentation
6. Study Loan 'Your gateway to the world' is the motto of BRAC Bank. The Study Loan gives the child
deserves the best education that every person have planned it ahead. BRAC bank has the
perfect solution for their child's future without worried about financing.
Eligibility
Parent/ financial guarantor of the student pursuing higher education locally and abroad
Earning TK 25,000 per month
Aged between 30 to 60 years
Retail Product Management Of BRAC Bank Limited, Banani Branch
Monthly installment schedule for Tk. 1 lac loan
Months 12 24 36 48 60
Amount 9168.48 4993.23 3616.27 2938.50 2540.26
14
Business Person:
TIN
Company and personal Bank statement (latest) 6 months
Maximum Amount
15 times of your gross monthly income
Features
Small Monthly Installments
Repayment scheme up to maximum of 5 years
Multipurpose facility to meet living expenses, airfare, personal expenses beside tuition
as well
For both salaried and self employed
7. Travel Loan 'It's time to fly', BRAC Bank Travel Loan opens the door for planning to take a trip abroad. It
gives the simplest way of financing, which have fast and easy loan processing. The travel lone
simply add excitement to the travel plan.
Eligibility
An individual with minimum monthly income of TK 15,000
A salaried or a self employed person
Aged between 25 to 53 years
Maximum Amount
8 to 10 times of gross salary
Features
Small Monthly Installments
50% off on Foreign Currency Endorsement Fees
For Salaried and self-Employed individuals
What do you need to apply?
For salaried employees, tourist visa of the traveling country, last 3 month's bank
statement, last salary slip/ letter of introduction showing salary, proof of ID, proof of
Retail Product Management Of BRAC Bank Limited, Banani Branch 15
residence, business card, photocopy of passport, quotation from travel agency regarding
airfare, proof of employment of minimum 2 years, applicant's & employer's name in the
address field family member guarantee.
For a self- employed person, tourist visa of the traveling country, last six months bank
statement, copy of trade license, TIN Certificate, proof of residence, spouse guarantee,
business card, photocopy of passport, quotation from travel agency regarding airfare.
8. Credit Card Loan Through the BRAC Bank credit card is necessary to get a loan from BRAC Bank. Loan can be
used for any reason from buying consumer goods, automobile to vacation expenses.
Eligibility
A one-year-old local credit card with any institution
A minimum of 12 months of satisfactory credit card relationship with any credit card
issuer in Bangladesh
Additional Requirements:
Salaried:
Letter of introduction pay slip
Latest 3 months Bank statement
Business Person
TIN
Proof of 5 years in business
Permanent address in the area where you operate
Company and personal Bank statement 6 months (latest)
Maximum Amount
5 times of credit card limit with a maximum of TK 1,000,000
Features
Any Purpose Loan
Status of the facility in just 72 hours
Flexible repayable plan in equal monthly installment
Retail Product Management Of BRAC Bank Limited, Banani Branch 16
What do you need to apply?
Copy of credit card
Last 3 month's credit card statements
Proof of 1 year of credit card history
Personal guarantee of immediate family member
9. Top Up Loan BRAC Bank Top Up Loan is easy loan for good borrower. This unsecured loan is designed to
meet various personal needs without mentioning the purpose at all. By applying according to
the requirements Top Up lone can be available to the customer.
Eligibility
An existing retail borrower of a reputed financial institution with good repayment
history
A salaried or a self employed individual
Aged between 30 to 55 years
Maximum Amount
Taka 10 Lac
Features
No tiring paper work
Facility status within 72 hours of application
10. HighFlyer Loan BRAC Bank's HighFlyer Loan is for airline, GSA & Travel Agency a professional is to makes
the customer long cherished desires an absolute reality. Enjoy life to the fullest and take benefit
of the varied opportunities it offers the HighFlyer Loan.
Eligibility
Maximum 20 times of your net monthly salary.
Minimum loan size is BDT 50,000, loan is available up to BDT 500,000.
Retail Product Management Of BRAC Bank Limited, Banani Branch 17
Maximum Amount
15 times of your gross monthly income
Features
No Security
Fastest Processing Time
Loan up to 5 years
Attractive interest rate
11. Secured Loan/ OD A special scheme that allows the customer to avail cash at nominal interest rates. The security
of the customer is kept untouched in the Bank's custody as the value grows.
Eligibility
All BRAC Bank account holders aged from 21 to 65
People from all income groups - salaried employees and self-employed business people
with security in their possession
Maximum Amount
Maximum amount can go up to Tk 5 crores. We even allow loans up to even 100% of
the value of your securities (conditions apply)
Features
Allowed to choose between the quarterly repayment option and the monthly installment
option
Can avail the facilities in single or in joint names
Interest will be calculated using reducing balance method
Deposit products:
1. Fixed Deposit: Opening Requirements-
» A Current Account or Savings Account
General Features-
» A term deposit with a guaranteed monthly return on investment
» Competitive interest rates
Retail Product Management Of BRAC Bank Limited, Banani Branch 18
» Early encashment flexibility
» Secured Loan and/or Secured Overdraft eligibility
Related Conditions and Charges
» Early Encashment Charge: no penalty charge; interest will be paid at prevailing Savings
Account rate if FD is maintained for at least 3 months
» Secured Loan and/or Secured Overdraft eligibility: up to 95% of Abiram value
» Secured Loan and / or Secured Overdraft eligibility: up to 80% of IFFD value
Interest Features
» Proposed rate of interest on Deposits: With effect from 20.10.2006:
FDRs: Principal Amount & Rate of Interest
Tenor100K-
999K
1000K-
4999K
5000K-
9999K
10000K-
49999K
50000K-
99999K
100000K
& above
1 month 9.00% 9.00% 9.00% 9.00% 9.00% 9.00%
3 months 11.00% 11.00% 11.00% 11.00% 11.00% 11.00%
6 months 11.00% 11.00% 11.00% 11.00% 11.00% 11.00%
12 months 11.00% 11.00% 11.00% 11.00% 11.00% 11.00%
24 months 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
36 months 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
2. Interest First Fixed Deposit:BRAC Bank Interest First Fixed Deposit lets the customer draw the interest instantly at the
time of deposit. The customers don’t have to wait till maturity to receive interest on Fixed
Deposit. A deposit scheme where the client receives interest in advance.
Features
Attractive rate of return
Loan facility against the IFFD
Retail Product Management Of BRAC Bank Limited, Banani Branch 19
Interest First Principal Amount & Rate of Interest
Tenor 100K & Above
3 months 10.75%
6 months 10.75%
12 months 10.75%
3. Abiram Account: BRAC Bank 'Abiram' Account is a special type of Fixed Deposit scheme, which offers the
flexibility & comfort of having a guaranteed monthly return on the investment. With BRAC
Bank 'Abiram' Account, the customer can ensure a safe & steady return on the investment.
Cause hard earned money of the customer is paying-off immediately;
Features
Monthly interest of the deposit
Attractive rate of return
95% loan against the deposit.
ABIRAM Principal Amount & Rate of Interest
Tenor100TK-
999K
1000TK-
4999K
5000K-
9999K10,000K & +
12 months 10.75% 10.75% 10.75% 10.75%
24 months 10.00% 10.00% 10.00% 10.00%
36 months 10.00% 10.00% 10.00% 10.00%
4. DPS (Deposit Premium Scheme):BRAC Bank's Deposit Premium Scheme is a savings plan that adds value to the hard earned
money.
Features
Monthly installments can be as low as Tk. 500 or any multiples of it
Choose any day as the installment date
Receive a Savings a/c with a personalized cheque book
Retail Product Management Of BRAC Bank Limited, Banani Branch 20
On-line banking facilities
The customers don’t need to stand in a long queue to deposit DPS Installments. He can
always deposit more than one installment in the savings account and the bank will
automatically transfer the installment to his DPS account on due dates
5. Ezee Account:
'Banking That Sets You Free' BRAC Bank offers Ezee Account a non-cheque interest bearing
account for small savers who are in frequent need of transaction. It doesn’t need to write a
cheque or stand in a long queue to draw money from BRAC Bank. Customer can get an ATM
card to operate their account round the clock.
Requirements for opening an Ezee Account:
2 passport size photographs of account holder
1 passport size photograph of nominee
Photo copy of photo ID
Proof of address
Initial deposit of minimum BDT 10,000
Features
Interest rate is 4%
Deposit in any Branch
24 hour access to ATMs and POS
Interest on daily balance
No minimum balance
No ledger fees
5. Savings Account
Retail Product Management Of BRAC Bank Limited, Banani Branch
Monthly
Installment
Amount (BDT.)
Maturity amount after completion of all regular installments
payment*
4 Years(8.5%) 7 Years(9.0%) 11 Years(9.5%) 14Years(9.75%)
500.00 28,667.00 58,650.00 116,603.00 179,550.00
1000.00 57,334.00 117,300.00 233,207.00 359,101.00
21
A regular savings account offering interests on deposit amount.
Requirements for opening an Ezee Account:
Primary Account opening balance - 15,000 BDT
No minimum balance required
2 copies of your recent photograph
Valid photocopy of you ID Card/Driving License
1 copy of Nominee's Photograph
Features
8 transactions
Cash withdrawal and deposit of 5 lac and above need clarification
No forfeiture rules or hidden costs
No requirement for notices to be given before making a withdrawal
Use our network of ATMs for easy cash withdrawal
Get mini balance statements from our ATM whenever you need Interest rate of 5.5%
on average monthly balance
6. Current Account BRAC Bank's Current Account is a normal checking account, gives the option to deposit and
withdraw money for day-to-day needs.
Requirements for opening a current Account:
Primary Account opening balance - 15,000 BDT
No minimum balance required
2 copies of your recent photograph
Valid photocopy of you ID Card/Driving License
1 copy of Nominee's Photograph
Features
ATM card for easy cash withdrawal
Withdraw money from any ATMS
Deposit cheque at any branches and get the fund transferred to the account
immediately
Retail Product Management Of BRAC Bank Limited, Banani Branch 22
Use online banking facility for free Easy access to other facilities
No interest rate.
7. Salary Account BRAC Bank Salary Account is a payroll account for Employers and Employees. As an
organization, it can opt for Salary Account to enable easy disbursements of salary & enjoy
numerous other benefits.
Eligibility
The organization needs to have a minimum of 10 employees and a payout of Tk. 1 lac per
month and an average salary per employee of Tk. 10,000 per month.
Zero Balance
There is no minimum balance required to open Salary Account. Employees can open Salary
Account with zero balance
ATM Debit Card
Employees will be provided with ATM Debit Cards to allow them to access to 24 hour
banking. These ATM Debit Cards can also be used for retail purchases at various stores all
around the country.
Saving Interest
The account also accrues interest on deposits. No minimum balance is required to earn interest
on the account. All an employer would require to do is to send BRAC Bank an advice (in the
form of a cheque/debit instruction etc) for the total salary amount along with the salary details
of the designated employees in a soft and hard copy format and the bank will credit the
respective employees' accounts as per your statement of advice.
8. BIZNESS Account
Bizness Account is an interest bearing account only for business Enterprise for SME and
Retail Banking. This product has been set in a way to encourage small & medium
Retail Product Management Of BRAC Bank Limited, Banani Branch 23
entrepreneur to enter into the wide range of modern banking facilities of BRAC Bank
Limited.
Eligibility:
Small and medium sized business entrepreneur of a sole proprietorship business
Entrepreneurs aged between 18 to 60 years
Opening balance - BDT-10, 000.00
Features
4% interest on daily balance
Smart Business Card
24 hour Access to ATMs/ POS
Tk-50, 000 withdrawn facility (per day) from ATM & Tk-100, 000 from POS
No Minimum Balance, No Ledger Fees, No hidden cost
No bar for using POS
Phone-Banking, Online Banking, SMS Banking, Internet Banking facility
Interest paid to account twice a year
Cards:
There are two types of debit cards introduced by BRAC Bank Ltd. They are:
VISA ATM/Debit Card
Co-Branded Card
1. VISA ATM/Debit CardATM /debit card is a plastic card to be used to mainly withdraw cash from automated teller
machine (ATM). By opening an account with BRAC Bank Limited, customer can have ATM
card.
Retail Product Management Of BRAC Bank Limited, Banani Branch 24
Person who are not eligible for ATM card:
- Joint accounts operated by joint signature
- Accounts of minors
- Accounts under attachment order
- Accounts under disputes
- Dormant accounts
ATM/Debit Card features:
Draw money up to BDT 30,000 per day
Check balance statements of your ATM and POS transactions
Get a Mini Statement
Change PIN number
Use it in BRAC Bank POS outlets to pay
24 hour hotline available to resolve queries and problem
ATM Locations:
:: Dhaka ZONE::
1. Gulshan Branch 1 Gulshan Avenue, Gulshan Dhaka2. Banani Branch 10, Kemal Ataturk Avenue, Banani Dhaka3. Panthapath Bashundhara City Market, (Ground Floor) L-1, B1, 13/Ka/1, Panthapath Dhaka4. Satmasjid Road Branch 766, Satmasjid Road, Dhanmondi Dhaka
13. Wari Bakul Tala Complex, Shop # 19 6, Folder Street, Wari Dhaka 14. Green Road Shop # 5, Suvastu Office Holding # 51-52, Green Road Dhaka15. RIFELS Square Rifels Square Peelkhana, Dhaka16. Bonosree House No. 2, Road. 3, Block-D, Project "Bonosree" Eastern Housing Limited Rampura, Dhak-1219
Retail Product Management Of BRAC Bank Limited, Banani Branch 25
5. Moghbazar Branch Aarong Plaza (Ground Floor) 211, Outer Circular Road, Moghbazar Dhaka6. Rampura 15, East Rampura, Shop # GF-1, Green Tower (Ground Floor), DIT Extension Road Dhaka7. Elephant Road Sheltech Sierra, 236 New Elephant Road Dhanmondi, Dhaka8. Mohammadpur 12, Gaznabi Road, College Gate Mohammadpur (Opposite to sohrawardy Hospital) Dhaka9. Mirpur Branch House # 13, Road # 3, Block-A Section-11, Mirpur, Dhaka10. Uttara Branch Plot # 1, Road # 15, Sector-3 Uttara, Dhaka11. Baily Road 1/5 nawratan Colony Property Arcate New Baily Road, Dhaka12. Bashundhara, Baridhara Bashundhara Bazar Block-A, Plot-125 Bashundhara R/A, Dhaka
17. Delta Medical Delta Medical Centre Limited 26/2 Darussalam Road Mirpur-1, Dhaka-121618. BRAC University BRAC University 66 Mohakhali, Dhaka19. Narayangong Holding No. 147 (113 Old) B.B Road, Narayangong Dhaka :: Chittagong ZONE ::
20. Momin Road Branch Chittagong 2, Momin Road Chittagong21. Panchaish 12/12 O R, Nizam Road Panchaish, Chittagong22. Chevron Chevron Clinical Laboratory 12/12, O. R. Nizam Road, Panchlaish, Chittagong :: Sylhet ZONE::
23. Zindabazar Branch Sylhet New Golden City Complex East Zindabazar, Sylhet
Lost Card/Card Replacement:If the card is lost:
At first call at the help desk to block the card ( 24 hours help)
Go to the respective branch to collect the ATM service form. After filling submit it to
the branch within 3 working days, it will be collected along with PIN.
In help line, balance cannot be enquired over phone.
Help Line:
These are two numbers of ATM help line:
» +88-02-8859200
» +88-02-8859201
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2. Co- branded card:Cards that are offered by BRAC Bank rather than regular debit card they are called Co-
branded cards. There are three Co- branded cards offered by BRAC Bank.
Aarong Card:What is BRAC Bank Aarong ATM Card?
It's a co-branded ATM Card with special cash back feature.
How is it different from other cards?
Unlike other ATM cards, the holder of this card can enjoy 5% cash back facility while
shopping at any Aarong outlet and the discount shall be automatically credited to customer's
account with BRAC Bank.
Features
Save 5 % on every shopping at Aarong
Get cash back straight into your account and earn interest
Facilities
24-hour access to ATM's across Bangladesh
Alico Card:What is BRAC Bank ALICO ATM Card?
It's a co-branded ATM Card with Life Insurance coverage.
How is it different from other cards?
Unlike other ATM cards, the holder of this card can enjoy a special life insurance facility.
Features
Free Life insurance Coverage upto BDT 200,000 with world's leading insurance
company ALICO
No premium payment hassle
Facilities
24-hour access to ATM's across Bangladesh
Access to countrywide designated POS (Point of Sales)
Retail Product Management Of BRAC Bank Limited, Banani Branch 27
DIA Gold:What is BRAC Bank DIA Gold ATM Card?
It's a co-branded ATM Card with special cash back and cash discount feature.
How is it different from other cards?
Unlike other ATM cards, the holder of this card can enjoy 10% cash back facility while buying
diamond products and 8% cash discount on the making charge of purchased gold items at any
DIA GOLD outlet.
Features
Save 10 % on Diamond jewelries
Save 8% on the making charge of Gold jewelries
Get cash back straight into your account and earn interest
Facilities
24-hour access to ATM's across Bangladesh
Access to countrywide designated POS (Point of Sales)
Other Services
Locker Service:BRAC Bank Ltd provides services to its customers. Customers having a saving or Ezee
account can easily have that service by filling up an application form. S/he can keep his/her
any valuable asset safe in the locker by paying a charge.
Charges:
Small Locker : BDT 2,500.00 (Yearly)
Medium Locker: : BDT 3,500.00 (Yearly)
Large Locker: : BDT 4,500.00 (Yearly)
Credit Cards:
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A credit card is a piece of plastic used for purchasing goods and services and for obtaining cash
disbursements on credit terms
Two type of Credit Card:
VISA Card Gold- Local
VISA Card Silver- Local
The local Taka Credit Card will provide cardholders with an unsecured revolving facility.
Minimum and maximum credit limit will be Tk. 10,000 and Tk. 400,000 respectively.
Approved credit limit shall in no instance (subject to waiver from competent authority) exceed
two and half times of applicants gross monthly income as assessed through the application and
accompanying documents.
Features of BRAC Bank Credit Cards:
Strong ATM network, in 2007 bank is going to have ATM booths.
Non- stop payment through branch end till 8 PM on week days
Saturday banking transactions till 1 pm in selective branches
Through POS cash withdraw can be done
First supplementary card is free
Primary card applicant must be over 21 years of age. Supplementary card applicant
must be at least 18 years of age.
Services through branch end, call centre and HO
Reward point
Minimum monthly income to apply is Tk. 10,000/- for a silver card and Tk. 45,000/-
for a Gold Card.
Facilities:
Through ATM per day cash withdraw limit is Tk. 20000 – 24 hrs round the clock.
Installment payments.
Discount offers in different merchants
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Utility bills can be paid through ATM using credit card
Co- branded credit card
Credit shield facilities
Requirements to acquire a BRAC Bank Credit Card:
Photograph (one copy)
Copy of passport (1st first page)
Personal bank statement for last 1 year
If salaried, latest original salary certificate/ pay slip
If self employed, copy of trade license and personal/ company bank statement for the k
last 6 months
Copy of TIN (Tax Identified Number) Certificate
Some more services:SMS Banking:
SMS Banking service is provided through mobile phone. Some features of SMS Banking are:
Instant Account Balance
Mini Statement
Easy to use
Fixed deposit maturity alarm
High value transaction alert
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For Account Balance:
For Last Few Transactions:
Internet Banking:
Internet banking is provided through internet. Some features of internet service are:
Balance inquiry
Account Statement
Loan information
Lost card reporting
Own account fund transfer.
Phone Banking:
Phone banking is provided through phone. Some features of phone banking service are:
Account related information
Balance inquiry
Transaction details
Product information
ATM card & cheque book services
Retail Product Management Of BRAC Bank Limited, Banani Branch 31
2.11 Operation Network Organogram:
3.1 Nature of the jobThroughout my internee period I have worked with more or less all the CSO (customer
service officer), and try to help at my level best to help them in their work. But I don’t get the
chance to work in the cash. So basically I know more about general banking. The tasks that I
have done throughout my internee period are given bellow:
BPM (Bills Paying Machine) & ATM (Automatic taller machine) executive,
Customer account opening,
Retail Product Management Of BRAC Bank Limited, Banani Branch 32
Chairman
Managing Director (MD)
Deputy Managing Director (DMD)
Chief Operation Officer (COO)
Head of Retail
Western Union Money Transfer,
ATM card’s pin delivery,
Provide information of all types of customers query,
Verification of signatures of different issues,
Update the exchange rate,
Reconcile the accounts at the end of the day.
3.2 Specific responsibilities of the jobI have started my internee with the responsibility of BPM (Bills Paying Machine) & ATM
(Automated Taller Machine) executive. I give service there for more than one month. Then I
was assigned for the job of different account opening. Beside that another job was to give
service to the customers who received money or remittance through “Western Union Money
Transfer”. It was one of the technical and responsible jobs, though all of my tasks require a
lot of responsibility. I also gave the pin number of the ATM card and solve card related
queries. Instead of that I also provide all type of customer inquiries and try to solve their
problems.
All of these tasks need equal responsibility and sincerity. But some times it creates pressure
for me to do the tasks simultaneously. But I was too lucky that I got the help and guidance of
my seniors. They also help me when I was wrong and if there is any problems. In the next
page the responsibilities of my jobs are given in detail:
BPM (Bills Paying Machine) & ATM (Automated taller machine) Executive:
The first one and a half month of my internee period, I worked as a BPM (Bills Paying
Machine) & ATM (Automated taller machine) executive. We are accustomed with the service
of ATM and how it works. But BPM is one of the newly introduced technologies in BRAC
Bank. The full form of BPM is Bill paying machine. Basically it is a machine for deposit
money up to taka 20,000 or less than that. The main purpose of the machine is to avoid the rush
of cash counter. The main advantage of BPM is, a customer can deposit money 24 hour even in
Retail Product Management Of BRAC Bank Limited, Banani Branch 33
the holy days. As the machine was newly introduced in the branch, I was assigned to execute
the system and help the customers who want to deposit their money.
The system of deposit money in BPM is very simple. First of all an envelop must be filled up
by providing the information of the account number, the account holders name, the contact
number and the signature of the depositor. And on the left hand side, the amount that is
deposited must be written (In amount). After filling the envelop appropriately, the envelop
must be put in to the machine by operating it. My main job was to give instructions and show
the way to deposit the money through bills paying machine. I also help to customers who face
problem while using ATM.
Customer account opening:
After worked as an ATM & BPM Executive, I was assigned to work with account opening
department. In a whole day I have to open more than 10 accounts. Customer account opening
is a lengthy process. If the customer have the documents that s/he is needed to open that
particular account, he or she must fill an account opening form correctly. If there is any
problem found in the fulfillment of the form or the form is wrongly filled, the form will be
return on the next day. So the form must be filled correctly. If all things are right, the CSM
(Customer Service Manager) give the permission to open the account. Customer than have to
give signature in the register and provide all the necessary information. They have to fill up a
KYC (Know Your Customer) form to have more idea about the customer. The main purpose of
this form is to give all the necessary information regarding the account, like the charges,
benefits, and if any specific inquiry the customer has.
I also open FDR account, DPS account, different type of account like- Ezee account, saving
account, campus account, business account, partnership account. The detail of these account
are given in chapter- 2.
So from the opening a new account, I had to do all the necessary things. To complete this job I
had to be careful because some problem can be arise while opening any account.
Retail Product Management Of BRAC Bank Limited, Banani Branch 34
After the customer service hour, the forms currier to the head office (Gulshan- 1) to the
respective department. So my job began here from opening an account and end after currier
them to the head office.
The process of opening an account is given in the flow chart bellow:
Western Union Money Transfer:
For more than 150 years, Western Union has been connecting people.
Today’s Western Union:
Is a global leader in money transfer services.
Is an industry leader with approximately $4 billion in revenue.
Retail Product Management Of BRAC Bank Limited, Banani Branch 35
Client come and show interest to open an account
Fill KYC (Know Your Customer) form, check the clients has necessary documents & information to open an account
If has then give him the application form to fill up
If hasn’t, serve the app. Form & inform the necessary documents to bring next day
Check the application form carefully and whether it include necessary documents
Get the signature of the client on the register
Deliver the welcome pack and the ATM card
Helps consumers and businesses send money and bill payments quickly and reliably
Provides consumers with financial choices, convenience and control.
Offers services through Agent locations around the world.
The working process of Western Union Money Transfer is given in the flow chart bellow:
ATM card’s pin delivery:
All type of customer account has an ATM card. When a customer opens an account, he gets an
ATM card and also a pin number. But the pin number should be given to that particular
customer only. Neither of his relatives can get the pin number. If the customer gives the
authorities to any person to take the pin numbers, the bank will not allow him do so. Because
Retail Product Management Of BRAC Bank Limited, Banani Branch 36
Customers fill up the form completely
Check and justify the necessary documents and
attachment of documents with the form
Input the MTCN number and cross check the information given in the system and the form
If any mismatch with the information, forms return to the
customer to fill it properly.
If the information matches, the form should be fulfilled in the
system
After filling the form in the system, 2 print out should be taken and signature of the customer.
After taking the authorized signature of BM & CSM, customer received money from the cash counter
the number is very much sensitive. By knowing the pin number any one can withdraw the
money from ATM. So at the time of delivering the pin number, I had to justify the person
whether he is the original account holder or not. It can be justified by the signature verified seal
given by the customer service officer. It can also be verified by matching the customer’s
signature in the system. But incase the signature is not up dated in the system, the customer can
be verified by asking some personal questions, like- date of birth, mother’s name, contact
number, mailing address and so on.
After the verification of the customer the pin number is given and after three working days
from the account opening date, the card can be activated by calling in the phone banking. The
number of phone banking is- 01819230000 and 01819260000.
I also solved and gave information of all type of card related problems and queries. For
example: if the ATM card is lost, or stolen, if the card breaks, if any one want to reissue a new
pin number or forget his pin number, if any one wants to cancel his ATM card, or want to have
a supplementary card, or want to have other type of debit card, like- ALOCO CARD, ARONG
CARD, BUSINESS CARD, DIAGOLD CARD- I took all the necessary steps to solve their
problems. There was a form which must be filled up by the customer and the signature must be
verified then. After the service hour, the forms were currier to the head office addressing to the
respective department.
The process of delivering the pin no is given in the flow chart bellow:
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A person comes to the branch/ opens an A/c and request for ATM card
Provide information of all types of customers query:
I also provided information to all type of customer queries. Each day many people come to the
branch with various types of problems. I tried my best to give them the proper information and
try to solve their problem. Some of the information that I provided are given bellow:
Retail Product Management Of BRAC Bank Limited, Banani Branch 38
The client opens an a/c and wants welcome pack
Client wants his name “Embossed” in the card
Request the client to fill up the ATM Service form
Send green form to ATM help desk, keep white form for branch reference, give yellow form to client
Card delivers to the mailing address after 7 working days
Client comes to branch & request for the pin number
Ask the client’s account name & account number
Verify the client by signature and by other information
Get the “ATM Terms & condition paper” signed by client
Deliver pin number & get clients signature on the register
# Account opening requirements, DPS related information, FDR information, some type of
loan facilities, different type of debit card related queries and their benefits.
# Give instructions for address change, signature change, mandate instruction, nominee
change, account closing information, DPS closing information, FDR closing formalities, pay
order, document issue and all type of queries.
# I also gave information of Western union money transfer. I used to give information,
like- from which country the money can be sent and in which banks money can be received. I
usually tell about the formalities or requirements to be maintained to receive the money.
# BRAC Bank has recently launch BRAC Bank credit card in the market. I used to
provide information about the card, the requirements that must be maintained to be a card
holder, the facilities to be a BRAC Bank credit card holder and other card related queries.
Verification of signatures of different issues:
Verification of signatures is very important for banking transaction. Because one of the
important proves to be an account holder is the signature. It was also a risky issue. I used to
verified signature for different issues, like-
# For ATM card delivery,
# For balance inquiry,
# For stop payment instruction,
# For address change, nominee change, mandate instruction, signature change,
# For cheque book delivery,
# For DPS account opening,
# For DPS certificate delivery.
3.3 Critical observation:During my internship period in BRAC Bank Ltd, Banani branch, I worked mainly with retail
banking products of BRAC Bank. It was more like general banking. As I got the opportunity to
work with more or less all the CSO’s (Customer Service Officer), I observed some errors in
Retail Product Management Of BRAC Bank Limited, Banani Branch 39
different stages. Previously I have mentioned my specific job responsibilities during my
internee period. During performing my job, I found that there was lack of good management of
the superiors. For those unavailable circumstances offend arise.
While performing my jobs, I found some errors frequently happened. The errors are follows:
- BRAC Bank, Banani branch is one of the busiest branches of BRAC Bank after
Gulshan branch. So the branch needs to be well managed. This branch must start token system
to avoid the rush of the customer.
- Most of the time there were problem with the ATM and BPM machine. In ATM,
it sometimes remained out of order, some time out of cash, and some times customer face the
problem of cash and card capture.
- As BRAC Bank follow centralized banking system, it creates a lot of problems for the
customer. The branch could not always give the solutions to the problems of the customers.
Because they need to contact with the head office for several problems. It makes delay to the
service and customers some times get angry.
- Too small branch to handle with a huge number of customers.
Some mismanagement has been identified while dealing with retail product. These are:
- CSOs dealing with retail products have to perform dual duties- service to customers
and another customer interrupt between their conversations. As a result, they frequently
mistake in the customer service. So that makes difference to the service quality.
- Sometimes it seemed to me that, officers’ deals with retail products don’t have
sufficient knowledge. So their clients are doing business with little or even no knowledge about
the product s/he has been engaged with.
- Some officials dealing with retail products haven’t been as professional as a private
bank does require.
- Sometimes it seemed to me that charges and other fees are very high compared to
other private banks. It frequently creates customer dissatisfaction.
Retail Product Management Of BRAC Bank Limited, Banani Branch 40
- Bank should arrange more BPM booths in every branch or if possible beside the ATM
booths. There are only five branches where the BPM service is available. So it make problem
to the customers who wants to deposit their money.
- One of the major problem in Banani branch is it don’t have separate space for
Western Union Money Transfer. The activities of account opening and Western Union were
done in the same desk. Which I feel created too much pressure to the CSO, because he has to
do all by himself. So it raised a lot of problems for both the account opening and Western
Union.
- Some times the CSM were so busy that it creates delay to the customer service. And
at the end of the day the closing were also delayed.
- Absence of an upgraded web site.
- Shortage of retail product brushers.
- Lack of setting arrangements for the waiting customers,
- Each of the CSO has the pressure of fulfilling the target. It is a monthly basis
requirement that must fulfill by the CSO to get promotion or to get award. It is good and gives
motivation to the officers. But most of the time it creates hampers to the responsibility of the
officers, so the quality of the service.
3.4 Recommendation
Retail Product Management Of BRAC Bank Limited, Banani Branch 41
BRAC Bank Ltd introduces a new dimension of business among the local bank in the financial
market of Bangladesh in Retail Product Management. The bank is doing business with more
than fifteen retain products. But in the complex business environment and diversified business
world these products cannot meet the customer needs. Today, customer classes are vibrant and
it is difficult to keep the customers without an appropriately designed and also is not properly
market driven. Developing a market driven product management system is essential for any
company if the company would like to win the competitive condition and would like to survive
in futuristic competitive market setting. In this regard, following specific recommendations are
forwarded for the development of product management of BRAC Bank Ltd.
Officials whom are involved in Customer Service should be trained properly.
Because some time they can not give proper suggestions to the customer queries.
Though they try to give at their best.
Their jobs should be mentioned more frequently,
They should be made some what freer from doing business,
There will be a separate Retail Credit Department,
Link between CSOs and CSM should be more easier,
Charges and fees may be reduced for more customer satisfaction. Recently the
charges of BBL product and customer service have increased without informing to
the customers. So that creates a lot of customer dissatisfaction. According to the
customers, the charges should be lesser so that every type of customer can bear it,
Number of ATM booths can be increased,
ATM should take good care. Because it has been seen that most of the time they
remain out of order or out of cash,
Each branch should have BPM,
BPM (bills paying machine) should take care regularly. Because most of the time
they remain out of order,
Relationship between Bank and customers should be created and increased,
Products should be more customer friendly,
Retail Product Management Of BRAC Bank Limited, Banani Branch 42
Through the customers of BRAC Bank Ltd are satisfied to some extent, they are
showing their grievances for procedural difficulty and long waiting time to receive
the service. In this regard, it is the situational demand to increase the number of
skill manpower as well as the skill of the existing manpower in Banani branch,
There should be a code of conduct for the BBL officials, which should be followed,
The web site of the BBL should be upgraded regularly,
The branch should take more spaces to continue its service perfectly. Banani branch
is too small but it has a huge number of customers. So by considering the fact
branch need more space.
The branch should have a good setting arrangement for the customers who wait for
the service. Some time the customers have to wait for the service but for the lack of
sufficient sofa they have to stand.
Banani Branch should have token system.
Last but not the list, the employees must be motivated when they do some thing
good and creative. It helps not only to satisfy the officers but also improve the
quality of work.
Conclusion:
Retail Product Management Of BRAC Bank Limited, Banani Branch 43
BRAC Bank intends to set standards as the market leader in Bangladesh. It demonstrates that a
locally owned institution can provide efficient, friendly and modern banking service on a
profitable basis. It products earning and payment dividends that can support the activities of
BRAC, the Bank’s major shareholder. Development and poverty alleviation on a countrywide
basis needs mass production, mass consumption and mass financing. BRAC Bank goal is to
provide mass financing to enable mass production and mass consumption and thereby
contribute to the development of Bangladesh.
This report has been prepared completion of a three months internship program in BRAC Bank
Ltd (BBL), Banani Branch. In the study, it is found that through there are more than 15 retail
products of BBL, all of them are not widely acceptable to the customers. The study shows that
the company is consciously trying to maintain the customer satisfaction. But in a market driven
economy, customers’ delightment is essential. The company is trying to learn about the market,
but the learning process is informal. On the other hand, the branch is not consciously
considering the steps of competitors and also lagging behind to develop a loyal customers
group. Developing a loyal customer group is essential for long time survival.
Retail Product Management Of BRAC Bank Limited, Banani Branch 44
Reference
Banking law and practice (S.N. Maheshwari)
S.F Ahmed and Co., “Annual Report 2004- 2005, BRAC Bank Ltd.
Brochures of different products of BRAC Bank Ltd.
Printed copies provided by BBL officials
www.bracbank.com
Retail Product Management Of BRAC Bank Limited, Banani Branch 45
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