SONALI BANK LIMITED
Usage and Savings

 

Foreign Remittance
To develop national infra-structure and economy of Bangladesh Sonali Bank Limited has been playing dominant role to bring hard earnings of Bangladeshi expatriates working / living abroad through banking channels. For this purpose, Sonali bank Limited has established a bank named Sonali Bank (U.K) Ltd., U.K and an exchange house named Sonali Exchange Company Inc (SECI), U.S.A. Our bank has also established drawing arrangement with various exchange houses / banks in Middle East, Canada and Malaysia. Under this arrangement, remitters can easily send their hard earnings to the beneficiaries in Bangladesh through 1180 Sonali Bank Limited Branches across the country. They can remit their money through Demand Drafts (DDs), Telegraphic Transfers (TTs), SWIFT and / or Computerized Payment Instructions (PC to PC via dial up modem) on Sonali Bank Limited selective branches.

 

Trade Financing
Sonali Bank Limited extends multiple credit facilities to boost up trade, commerce and industry. The credit packages and interest rates are as under:


Credit Packages

Interest Rates
(Floating)

1.

Credit to Trade and Commerce

14%

2.

Credit for Power Driven Vehicle/Water Transport

14%

3.

Overdraft against:

 

 

Fixed deposits

13%

 

SDPS Accounts

 

 

Five years period

12%

 

Ten years period

14%

 

Insurance Policy/Shares and Debenture of Public Ltd. Co.

14%

 

Work order of Govt. Semi Govt./Corp

14%

 

Wage Earners Dev. Bond

13%

4.

Housing Loan

 

 

Residential

13.5%

 

Commercial

14%

5.

Small Loan

14%

6.

Consumers credit

14%

7.

Loans to Public Sector Enterprises

14%

8.

Cash credit facilities for Small Business enterprises

14%

9.

Cash Credit facilities against Bricks Manufacturing

14%

 

Investment Banking
Central Accounts & Fund Management Division at Head Office maintains Investment Portfolio of the Bank. With a view to implementing Government policies & decisions and accelerating the growth of the Capital Market of the country, surplus funds of Sonali Bank are utilized in the following areas:
a) Short Term:
1. Call Loans: An overnight investment to other Banks & Financial Institutions.
2. Treasury Bills: Investment made to the Government through Treasury Bills.
 
 b) Long Term:
1. Government / Public Bonds: Sonali Bank Limited purchases bonds issued by the Govt. of Bangladesh and other Public Bodies.
2. Shares / Equity Participation: Sonali Bank Limited participates in the IPO and extends bridge finance to the equity of Public Ltd. Companies, Institutions and Public Bodies.
3. Debentures: Sonali Bank Limited purchases debentures issued by the Public Bodies and Financial Institutions under Government.
IT Financing

 

Name

 

About

 

Eligibility

 

Loan Limit

Debt-Equity Ratio
Debt-Equity Ratio

 

Period

 

Security

 

Interest Rate

 

IT Project Financing

For growing international markets for software and data processing this scheme provides long term and short term credit facilities on easier terms to set up and run IT based projects.

Entrepreneurs, of them at least two with recognized degree/diploma in Computer Science or Electrical Engineering / Telecommunication / Applied Physics & Electronics, forming a private limited company may apply. Experience in the related field will be preferred.

Maximum Tk. 1.50 million. In deserving cases, up to Tk.10.00 million may be considered

80:20

Maximum 6 years including 1 year grace period.

In case of project with own land & building no collateral security other than the personal guarantee of the loaners is required. Entrepreneurs offering collateral security will be preferred. Or Loan may be consider with personal guaranty of worthy person(s) (Third party)

 

11%

 

IT Export Financing

For export of software and processed data short term finance is extended to existing IT projects.

Feasibly implemented and properly staffed IT projects with export L/C or firm contract in hand may apply. Export through satellite, BTTB confirmation required.

Tk. 1.00 million. For larger contract higher amount may be considered

90:10.

L/C or Contract period plus 21 days but not exceeding 180 days from the date of disbursement

No collateral security other than the personal guarantee of the loaners is required. But for loan amount exceeding Tk. 1.00 million collateral will be required.

 

11%