An Evaluation of Deposit Schemes of United Commercial Bank Limited

An Evaluation
of
Deposit Schemes of United Commercial Bank Limited:
A Study on Narayangonj Branch
Daffodil International University
Internship Report
On
An Evaluation of Deposit Schemes of United Commercial Bank
Limited: A Study on Narayangonj Branch
Supervised by
Mohammad Shibli Shahriar
Associate professor & Head
Department of Innovation and Entrepreneurship
Faculty of Business & Entrepreneurship
Submitted by
Sumaiya Kabir
ID# 153-11-4907
Department of Business Administration
Faculty of Business & Economics
Date of Submission: 17/12/2019

Letter of Transmittal
Date: 17/12/209
To,
Associate Professor and Head
Subject: Submission of Internship Report on “An Evaluation of Deposit Schemes of United

Commercial Bank Limited.”
Dear Sir,
This is my pleasure to submit my internship report on “An Evaluation of Deposit Schemes of
United Commercial Bank Limited”. It’s a great opportunity for me to acquire knowledge and
experience in respect of the functions, procedures, and operational mechanism of a commercial
bank based on conventional banking principle while work in Narayangonj Branch of United
commercial Bank Limited.
I believe that the knowledge and experience. I have gathered during my internship period will
surely help me in my professional also future life.
I have concentrated my best efforts to achieve the objectives of the practical orientation and hope
that my endeavor will serve the purpose. However, I will always be happy to welcome any further
clarification that you may require.
Sincerely yours,
Sumaiya Kabir
ID# 153-11-4907
Major in Finance
Department of Business administration
Faculty of Business and Economics
i
© Daffodil International University
Acknowledgement
As a part of the BBA completion program, I am complete my Internship on “Deposit Schemes of

United Commercial Bank limited”. It’s a great pleasure for me to work at United Commercial
Bank Limited. Since it not only offered me it’s also a great opportunity for me to acquire practical
knowledge and working experience in the real working world, and it’s also enriches me to know
some more about banking knowledge.
In the beginning to the completion of my Internship, the colleagues are not only very helpful but
also very helpful. They also guided me through any difficulties that might arise. They are also
giving me constructive advice and monitoring my job. I would like to express my gratitude to
them; it was not possible for me to complete my internship and prepare it without their cordial
supervision and suggestion.
I am also like to dedicate my heartiest thankful congratulation to all executive & officers of United
Commercial Bank Narayangonj Branch. I also like to express my whole-hearted gratitude to
Mohammad Shibli Shahriar my Internship supervisor who gives me proper instruction for my
Internship program.
ii
Letter of Acceptance
I am pleased to certify that the internship report on “An Evaluation of Deposit Schemes of United
Commercial Bank Limited” Presented by Sumaiya Kabir ID: 153-11-4907 of the Department
of Business Administration is approved for presentation and defense. She works under my direct
supervision. Sumaiya kabir worked with United commercial Limited as an intern.
The data and the findings presented in the report are the authentic worked by Sumaiya Kabir. I am
recommending the report prepared by Sumaiya Kabir for further academic commendations. She is
a very good moral character and pleasing personality.
I wish her all success in future life.

Associate Professor and Head
iii
Preface
I am a student of business administration, so I am complete my internship report in United

Commercial Bank Limited at Narayangonj Branch. I effort my best to collected the information
relate to the study topic and prepare the report within a short time. That’s why there may be some
unexpected mistakes in the report. I regard for my mistake in the report.
I worked in United Commercial Bank Limited at Narayangonj Branch. My internship program's

best things are the opportunity to efficiently empower the hard-working team of highly qualified
banking. I master the most important skill to work with a team.
In this report, I am extremely grateful to my supervisor Mohammad Shibli Shahriar Department

of Innovation and Entrepreneurship, Faculty of Business and Entrepreneurship, Daffodil
International University.
During my internship period, I am trying to follow supervisor’s guideline. My practical experience

has been upgraded through performing banking institution duties. The internship report is making
me perfect and fit for a good bank services performance.
Sumaiya Kabir
ID# 153-11-4907
Major in Finance
Department of Business administration
Faculty of Business and Economics
iv
Executive Summary
United Commercial Bank limited (UCBL) started its journey in mid-1983.With 200 branches
UCBL have already made a distinct mark in the realm of Private Sector Banking. Also 101 ATM.
They have Around 11 Lac customers 139 branch. Chairman Rukhmila Zaman. Personalized
service, innovative practices, dynamic approach and efficient Management are the main power of
the bank and UCBL do it very well and their service make them famous.
Banks are always run by their service and United Commercial Bank always focuses on that. They
give the service with very quality and quick. The Bank has expanded its arena in different and
diverse segments of banking like Retail Banking, SME Banking, Corporate Banking, Off-shore
Bnking, and Remittance etc. Besides various deposit and loan products of Retail Banking, the
Bank caters export and import loan to deserving candidates which in turn helps the overall
economy of the country through increased earning of foreign exchange.
In chapter one, I have discussed briefly about Introduction, Background of the study, objective,
scopes, Methodology and Limitation.
In chapter two, Historical Background, Vision, Mission, Goals, core values, Management system,
Branch Expansion, Corporate Social Responsibility.
In chapter three, I have discussed all about Deposit Schemes of UCBL Ltd, main topic in report,
Deposit Schemes all Activities like Account opening Department, Clearing Department,
Remittance Department, Cash Department, Accounts Department, Customer Service on this topic
related.
In Chapter Four, I have discussed all about findings of report, recommendations and conclusion
of the report.
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Contents
Letter of Transmittal ...................................................................................................................................... i
Acknowledgement ........................................................................................................................................ ii
Letter of Acceptance .................................................................................................................................... iii
Preface ......................................................................................................................................................... iv
Executive Summary ...................................................................................................................................... v
Chapter 1 ....................................................................................................................................................... 1
1.1 Introduction ............................................................................................................................................. 2
1.2 Background of the Study ........................................................................................................................ 2
1.3 Objectives of the Report ......................................................................................................................... 3
1.4 Scope of the report .................................................................................................................................. 3
1.5 Methodology of the study ....................................................................................................................... 3
1.6 Limitations of the study .......................................................................................................................... 4
Chapter 2 ....................................................................................................................................................... 5
2.1 Organization............................................................................................................................................ 6
2.2 Historical Background of the Organization: ........................................................................................... 6
2.3 Vision ...................................................................................................................................................... 6
2.4 Mission.................................................................................................................................................... 6
2.5 Core Values............................................................................................................................................. 7
2.6 Goals ....................................................................................................................................................... 7
2.7 Commitments .......................................................................................................................................... 8
2.8 Management System ............................................................................................................................... 8
2.9 HIERARCHY OF UNITED COMMERCIAL BANK ........................................................................... 9
2.10 Branch Expansion ............................................................................................................................... 10
2.11 Corporate Social Responsibility.......................................................................................................... 10
Chapter 3 ..................................................................................................................................................... 12
3.1 Account Opening Department .............................................................................................................. 13
3.1.1 Current Deposit .............................................................................................................................. 15
3.1.2 Savings deposit .............................................................................................................................. 15
3.1.3 Short Term Deposit ........................................................................................................................ 16
3.1.4 Fixed term Deposit ......................................................................................................................... 16
vi
3.1.5 Monthly Saving Scheme (MSS/NMS) ........................................................................................... 17
3.1.6 RFC Deposit................................................................................................................................... 18
3.1.7 NFC Deposit .................................................................................................................................. 19
3.2 Clearing Department ............................................................................................................................. 22
3.2.1 Function of Clearing Department .................................................................................................. 22
3.2.2 Types of Clearing ........................................................................................................................... 23
3.2.3 Receiving cheque for collection ..................................................................................................... 23
3.2.4 Types of clearing House ................................................................................................................ 24
3.2.5 Dishonored cheque......................................................................................................................... 24
3.3 Remittance Department ........................................................................................................................ 25
3.3.1 Local Remittance Department ....................................................................................................... 25
3.3.2 Foreign Remittance Department .................................................................................................... 28
3.4 Accounts Department............................................................................................................................ 30
3.4.1 Functions of Accounts Department................................................................................................ 31
3.4.2 Daily Statement .............................................................................................................................. 31
3.4.3 Transfer Book ................................................................................................................................ 32
3.4.4 Voucher Register ........................................................................................................................... 32
3.4.5 Cash Book Record ......................................................................................................................... 33
3.4.6 Supplementary ............................................................................................................................... 34
3.5 Cash Department ................................................................................................................................... 34
3.5.1 Cash Receiving .............................................................................................................................. 34
3.5.2 Cash Payment................................................................................................................................. 35
3.5.3 Transaction Cash Money ............................................................................................................... 35
3.5.4 Vault Requirement ......................................................................................................................... 35
3.5.5 Cash Balance book ......................................................................................................................... 36
3.5.6 Cash Packing.................................................................................................................................. 36
3.6 Deposit Department .............................................................................................................................. 36
3.7 Customer Service .................................................................................................................................. 37
Chapter 4 ..................................................................................................................................................... 38
4.1 Findings................................................................................................................................................. 39
4.2 Recommendations ................................................................................................................................. 40
4.3 Conclusion ............................................................................................................................................ 41
4.4 References ............................................................................................................................................. 42
vii
Chapter 1
Introduction
1
1.1 Introduction
A bank is an invaluable organization in modern economy. It plays an exceptional role in the
economic development for the country, forms the core of money market in an advanced economy.
Day by day globally the banking process and its area of operation are increasing. It is also changing
due to technological innovation and globalization, happening because of its demand. Basically, the
bank takes customer deposits against some interest and for a certain period of time lends it to the
borrowers against some interest. United Commercial Bank Limited is one of Bangladesh's largest
and most successful commercial bank in the private industry. It plays a vital role in our country's
economic development.
My study topic is Evaluation of Deposit Schemes of United Commercial Bank Limited; study on
Narayangonj Branch. Main aim of my study is to acquainted knowledge about Deposit Schemes
of United Commercial Bank Limited.
Deposit schemes make relation with the customers with the bank world. The relations make by
security and trust that provide by the bank. In bank they have different sector deposit under to the
general banking sector.
1.2 Background of the Study

On ground knowledge can fully complete with fully supported, it is not complete without practical
implication on ground. Bachelor of Business Administration is designed the combination of
practical and theoretical aspects. In United Commercial Bank Limited, Narayanjong Branch, I was
work with them as an intern. Realty is hard work and smart work is the main combination of every
work sectors. That was the best opportunity for me to enrich my knowledge on banking system.
By observing thoroughly, I prepared this report on the basis of my findings and observation relating
to the topic.
2
1.3 Objectives of the Report
The objective of the study is to evaluate deposit schemes of United Commercial bank Limited of
Narayangonj branch. The specific objectives of the study are as follows.
.To analyze deposit schemes of United Commercial bank Limited.
To evaluate deposit schemes of United Commercial bank Limited.
To find out some problems of those schemes.
To suggest some recommendations on the basis of findings.
1.4 Scope of the report

Scope of the study is great as it includes the overall Deposit schemes of United Commercial bank
limited. The concern of the analysis includes following:
 UCBL reach every corner of the society to provide variety of services. customers in
competitive business environment Satisfy the demand.
 They are success for the business principles pursued of UCBL.
This report is prepared trough vast discussion with customers. While preparing this report, Great
opportunity for me to a depth knowledge of all the banking activities practice by United
Commercial bank limited.
1.5 Methodology of the study

Data is collected from both primary & secondary sources.
Primary sources of data:
 Conversation with bank officers & staffs.
 Informal conversation with clients
 Personal observation
 Performance of practical activities
Secondary sources of data:
 Annual report of United commercial bank Limited
 Web site: www. ucb.com.bd
3
1.6 Limitations of the study
As an intern it was an opportunity for me to know more about the banking activities of United
commercial bank Limited. Some of the limitations are as follows:
 Limitation of the time as duration of the internship program. The internship was for three
or four months only it is a very short time.
 Limited access to information, which is hamper the scope of analysis.
 Organization has some restrictions that are not reveal to others.
 Banks personally were busy on customer service so it quite impossible for them give
sufficient time for me.
4
Chapter 2
An overview of United commercial bank Limited
5
2.1 Organization
Offering full range of Personal, Corporate, International Trade, Foreign Exchange, Lease Finance
and capital Market services United Commercial Bank Limited (UCBL) is the leading private sector
bank in Bangladesh.
2.2 Historical Background of the Organization:

Name of the Company: UNITED COMMERCIAL BANK LIMITED. UCBL on 01 January 2016
among the first-generation banks in the private sector. In mid-1983 UCBL started its operation.
Establish the large network of
200 branches and 398 ATM. They have Around 4982 customers. Registered Office Plot- CWS(A)-
1, Road - 34, Gulshan Avenue Dhaka-1212, Bangladesh. Chairman Rukhmila Zaman, Vice
Chairman Hajee Yunus Ahmed. Authorized Capital BDT 15,000 million. Already UCBL make a
distinct mark in the area of Private Sector Banking with personalized service, innovative practices,
dynamic approach and efficient Management. UCBL play a leading role in the economics and
finance of Bangladesh. They provided quality and quick service with security and trust to their
customers.
2.3 Vision
To be the bank of first choice through maximizing value for our clients, shareholders & employees
and contributing to the national economy with social commitments.
2.4 Mission
To offer financial solutions that create, manage and increase our clients’ wealth while improving
the quality of life in the communities we serve
 High quality financial services with state-of-the-art technology.

 Fast customer service.
 Sustainable growth strategy.
 High Ethical standards in business.
 Steady return on shareholders’ equity.
 Innovative banking at a competitive price.
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 Attraction and retention of quality human resource.
 Commitment to Corporate Social Responsibility.
2.5 Core Values

 We put our customers first  Fairness
 We emphasize on professional ethics  Harmony
 We maintain quality at all levels  Team Spirit
 We believe in being a responsible  Courtesy
corporate citizen  Commitment
 We say what we believe in  Service Excellence
 We foster participative management  Insight and Spirit
 Integrity  Enthusiasm for work
 Respect  Business Ethics
2.6 Goals
 Objective of UCBL is to maximize profit through customer’s satisfactory. Highest quality
customer through its new products and services such as ATM, ONLINE BANKING &
POINT OF SALES transaction.
 Giving quick and improved clientele services through application of modern information
technology.
 Highest possible dividend to the respected shareholders by making best use of their equity.
 Playing national progress by inculcating improve banker-customer relationship
 Maintenance of capital adequacy, comfortable liquidity, asset quality, and highest profit
through successful implementation of the Management Core Risk programmed.
 Expanding the Bank’s area of investment by taking part in syndicated large loan financing.
 Increasing finances to Small and medium Enterprises (SME) sector including agriculture
& agro-based industries, thus making due contribution to the national economy.
 Consolidating to position in the competitive market by introducing innovative banking
products.
7
2.7 Commitments
Carrying Ourselves at Work
 Discipline
 Honesty & Integrity
 Sincerity
 Caring
 Creativity
In Serving the Bank

 Loyalty
 Total commitment & dedication
 Excellence through teamwork
In Serving Customer
 Customer-first
 Quality –focus
 Credibility & Secrecy
2.8 Management System

The Managing Director (MD) of UCBL is the chief Executive of the Bank. His Duty is numerous.
He is responsible for administering the business affairs of the bank. He is also concern with
planning and implementation. He may be appointed on contractual basis for certain period. Under
the leadership of managing director, there are three(3)Deputy Managing Director(DMDs),17
divisions are found in UCBL, each division is led by either an Executive Vice President (EVP)or
Senior Vice President(SVP)or Vice President (VP)
8
2.9 HIERARCHY OF UNITED COMMERCIAL BANK
9
2.10 Branch Expansion
At present UCBL has been carrying on business through its 139 branches spread all over country,
also 101 ATM, SME 2 Employ 3374. Besides the bank has drawing arrangement with 415
correspondents in75 countries of the world as well as overseas exchange companies in 13 countries
named Kuwait, Oman, Qatar, Bahrain, Saudi Arabia, Switzerland, UK, Italy, Canada.
Branch Location Branches
Dhaka 50
Chittagong 23
Rajshahi 20
Khulna 18
Sylhet 20
Barisal 8
2.11 Corporate Social Responsibility

Corporate Social Responsibilities and Green Banking Corporate social responsibility (CSR), in
recent times, has become an integral part of business. The contribution of Banks in this regard is
of paramount importance considering their unique position in the Economy. UCB believes that
CSR practice not only improves the Bank’s own standard but also affect the socially responsible
behaviors of its businesses.
UCB maintains a standard CSR practices consistent with the Bangladesh Bank's CSR Guideline.
In the case of implementation of CSR, UCB focuses on literacy, nutrition, disaster management,
socioeconomic growth, sports, etc. The UCB also supports Green Banking. The Annual Report is
linked to separate documents on CSR and Green Banking. Earning the highest level of confidence
requires a balanced quality distribution to four constituents: consumers, investors, market
environment & community, and employees. Through this process, the Bank seeks to contribute to
society as a whole's sustainable development and to meet corporate social responsibility
responsibly.
10
The bank has taken several steps in different areas to achieve greater social status. To reinforce
CSR activities, the bank has focused in the areas of employment, education, sports& cultural
activities, and disaster relief.
11
Chapter 3
Deposit Activities of United Commercial Bank Limited
12
All activities of a bank are called general banking. Banking is the summation of financial services
like collection of deposit from people, collect cheques, grant loans, safeguard money for its
customers. In UCBL the following departments are under general banking:
1. Account opening Department

2. Clearing Department
3. Remittance Department
4. Account Department
5. Cash Department
6. Deposit Department
7. Customer Service
3.1 Account Opening Department

Account opening is the way for clients to enter into the business with bank. Opening account is
the foundation of banker customer relationship. Account opening is one most important section
for branch, because by opening accounts bank mobilizes fund for investment. Customers have
different option for opening their accounts through this department, such as:
1) Current accounts (CD)

2) Savings account (SB)
3) Short term deposit account (STD)
4) Fixed deposit account (FDR)
5) Monthly saving scheme (MSS/NMS)
Types of Deposit
1. Demand Deposit
These deposits are withdrawn able without notice such as:
 Current Deposit
 Savings account (SB)
 Short term deposit account (STD)
 Demand Deposit
 Pay Order
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2. Time Deposits
A Deposit which is payable at a fixed date or after a period of notice such as:
 Fixed deposit account (FDR)
 Monthly saving scheme (MSS/NMS)
Account Opening Procedure
Step 1 The Account should be introduced by one of the following:
 An Existing current Account holder of the Bank

 Officials of the bank not below the rank of an assistant Officer
 a respectable person of the locality well known to the manager
Step:2 Receiving filled up application in bank’s prescribed form mentioning what type
of account is desired to be opened
Step:3  The form is filled up by the applicant himself/herself

 Two copies of passport size photographs from individual are taken
 one copy of nominee’s photograph
 In case of firm, photograph of all partners is taken
 applicant submit required document
 Applicant must sign specimen signature sheet & give mandate
 introducer signature & account number – verified by legal officer
Step:4 Authorized officer accepts the application
Step:5 Minimum Balance is deposited
Step:6 Account is opened and a Cheque book and pay in slip book is given
14
3.1.1 Current Deposit
UCBL provides the new deposit facility without any limitations for day-to-day business
transactions. Current deposits are available by deposit of pure demand. There is no limit to
withdrawing money from the customer. There is no return on the money deposited. It is reasonable
to collect funds and pay too much cash at frequent intervals.
Benefits (Condition Apply)

 Minimum maintenance charge yearly Tk. 800
 No hidden costs
 Minimum balance Tk.15000
 Standing Instruction Arrangement are available for operating account
 Easy access to our other facilities
Account Opening
 2 copies of recent photograph of account holder.
 TIN certificate
 Nominee's Photograph
 Valid photocopy of Voter ID Card
 Agreement of the business
3.1.2 Savings deposit

UCBL always offers their customer hassle free & low charges saving account. Therefore, there is
a one-month withdrawal limit. Heavy withdrawals are only permitted against prior notice. Interest
is granted for that month's lowest deposited cash. The amount of withdrawal should not exceed
1/5th of the total balance at one time and limit twice in a month.

Interest rate Allof 3.50%on average monthly balance.
Minimum balance Tk 500.
Maintenance charge yearly Tk. 400.
No hidden costs.
Standing Instruction Arrangement are available for operating account.
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Account Opening
2 copies of recent photograph of account holder.
Nominee's Photograph.
Valid photocopy of Voter ID Card
3.1.3 Short Term Deposit

UCBL offers interest in short-term savings for customers and provides an opportunity to withdraw
money at any time. Generally speaking, keeping money is STD responsible for the majority of
large corporations, organizations, government department. This discourages repeated withdrawals
and needs prior notice. The deposit should be held in order to get interest for at least seven days.

 Minimum balance Tk. 500(personal),15000(company)
 Minimum maintenance charge yearly Tk. 800.
 Standing Instruction Arrangement are available for operating account
Account Opening
 Nominee's Photograph.
 Valid photocopy of Voter ID Card.
3.1.4 Fixed term Deposit

UCBL offers fixed term savings that will scale up your saving amount with the time. Fixed deposit
is one, which is repayable after the predetermined period fixed by him. The period varies from 1
year to 10 year. These deposits are not repayable on demand but they are withdrawing able subject
to a period of notice. Hence, it is a popularly known as ‘Time Deposit’ or ‘Time Liabilities”. It is
clearly stated in the case of FDR that when the sum will be able to withdraw & the amount of the
theory & interest. The account holder of FDR gets a slip from the FDR. If the holder of the account
withdraws his money before the date of maturity, he has no interest. If the account holder wants to
withdraw his money before the date of maturity, they have given 500 taka penalty. In case of FDR
holder death, his nominee will get the amount.
16
 Any amount can be deposited
 Premature encashment facility is available
 Overdraft facility available against term receipt
Account Opening
 1 copy of recent photograph of account holder
FDR Rate
FDR for 1-5 years 9.25%
FDR for 6-10years 8.25%
3.1.5 Monthly Saving Scheme (MSS/NMS)

“See your small savings grow with UCBL.” UCBL offers monthly savings scheme for its retail
customers. Customers can deposit money for a period of 3, 5 or 8 years. The monthly installment
& their rate are as follows:
Monthly Return after 3 Return after 5 Return after 8

Installment years 9.25% years 9.25% years 8.25%
500/- 20,813/- 37,253/- 68,132/-
1000/- 41,627/- 76,506/- 136,265/-
2000/- 83,254/- 153,012/- 272,530/-
3000/- 1,24,881/- 2,29,519/- 4,08,796/-
4000/- 166,509/- 306,025/- 545,061/-
5000/- 208,136/- 382,531/- 681,326/-
10000/- 416,272/- 765,063/- 1,362,653/-
17
 Monthly amount can be 500 and multiple of it.
 Premature encashment is available for urgent need.
 Standing instruction facility can be available to auto transfer installment to NMS
account.
Account Opening
 1 copy of your recent photograph.
3.1.6 RFC Deposit

UCBL gives opportunity to maintain foreign currency account through its authorized dealer
branches. Bangladesh nationals residing abroad or foreign nationals residing abroad or Bangladesh
and foreign firms operating in Bangladesh or abroad or Foreign missions and their expatriate
employees.
Account Opening
 Passport Copy.
 ID of residence in abroad.

 No initial deposit is required to open the account.
 Interest will be offered 1.75% for US Dollar account, 3.00 % for EURO Account and 3.25%
for GBP Account.
They will get interest on daily product basis on the credit balance (minimum balance of US$
1,000/- or GBP 500/- at least for 30 days) maintaining in the account.
18
3.1.7 NFC Deposit
UCBL gives opportunity to maintain foreign currency account through its authorized dealer
Branches. All non – resident Bangladeshi nationals and persons of Bangladesh origin including
those having dual nationality and ordinarily residing abroad may maintain interest bearing NFCD

 NFCD Account can be opened for One month, Three months, Six months and One
Year through US Dollar, Pound Starling, Japanese Yen and Euro.
 The initial minimum amount of $1000- or 500-Pound Starling or equivalent other
designated currency.
 Interest is paid on the balance maintain in the Account. This interest is tax free in
Bangladesh
Account Opening
 Passport Copy.
 ID of residence in abroad.

 Low charges in overdraft account maintenance.
 Facility is available against deposit receipt or mortgage property.
Issuing Cheque Book

New account holder is required to fill out a UCBL application form. After confirming the signature
of the depositor, the approved officer placed the seal of the branch and signed. The register book
contains seal, account holder name, account number, test number. Upon completion of all this
work, the client receives his check book and places his signature on the register book.
19
There are two types of cheque book in Account Opening department:
 Twenty leaves Cheque book: used for current account and savings accounts
 Fifty leaves Cheque book: used only for current account but this is provided those who
are loyal customer or those depositors who are loyal customer.
If an existing customer wants a new check to be removed, he / she will give the bank an application
slip that he / she gets from the previous check book. Check customer paid 400 taka for men and
300 taka for women.
In Case Of lost cheque book, account holder has to place a general diary (GD) and must have to
fill an indemnity bond which has been authorized by the introducer with a stamp
Paper of 150& stop payment is given by the bank so that no payment can be made by any branch.
Application Form for Current /Savings/STD/FDR Account holder
 Personal account
 Information about & photo of Nominee.
 Signature of account holder
 voter id no. of nominee &account holder
 Information about & photo of account holder
 Transaction profile
 KYC (know your customer) form-1
 Introducer information
In case of current account-

 Tin Number
 Information about the business
 Agreement of the business
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In case of joint account-
 Information about joint account holders
 photographs attested by introducer
 specimen signature of account holder
In case of partnership-
 Certified copy of resolution of opening an account
 Certified copy of certificate of registration
 Resolution of executive committee
 Copy of Govt. approval
In case of limited company:

 Certified copy of the memorandum & articles of association
 Certificate of the incorporation of the company
 Certificate from register of joint stock companies
 Latest copy of balance sheet
 extract of resolution of the board
 List of directors
 authorized signature
 Name
In case of Fixed deposit: FDR slip contains

 Amount in figures
 Beneficiary’s name and address
 Period
 Rate of interest
 Date of issue
 Date of maturity
21
Closing of an account
Closing of an account may happen-
 If the customer is desired to close the account

 If UCBL finds that the account is inoperative for a long duration
 If garnishee Order is issued by court.
The checkbook has to be returned to the bank to close the account. UCBL accepts all fees by
debiting the account and then charging the remaining balance to the customer. The A / c closing
register and machine are given the necessary entries.
3.2 Clearing Department

Clearing department work for their customers for Cheque, pay order, demand draft, Pay Slip,
collection of amounts of other bank on behalf of its customer.
Clearing is a mechanism developed by the bankers to set up their mutual debts by exchanging bills,
drafts or checks drawn on each other between themselves. Clearing is a system that allows a bank
to raise funds from one bank to another via clearing house.
3.2.1 Function of Clearing Department

 Receiving cheques for collection
 Crossing the cheque
 Posting the cheque in computer
 Clearing seal &proper endorsement of the cheque
 Separation of cheque from deposit slip
 Sorting of cheque branch wise & bank wise
 Preparation of 1st clearing house validation sheet
 pass outward instrument to the clearing house
 Pass inward instrument to respective department
 Return instrument in case of dishonor
 Prepare IBCA or IDA for respective branch or HQ.
22
3.2.2 Types of Clearing
Only the regular customers who have Savings, Current, STD, Loan Account. There are two types
of clearing:
i. Outward Clearing: It is Outward Clearing when a bank's branches receive checks from
their customers taken from the other banks throughout the local clearing zone for collection
through clearing house.
ii. Inward Clearing: When the banks receive Cheque drawn on them from other banks in the
clearing house, it is Inward clearing.
3.2.3 Receiving cheque for collection

In UCBL cheques of its customers are received for collection from other banks. For receiving
cheque, following points are:
 Name of the account holder same in the cheque & deposit slip
 Amount in the cheque &deposit slip must be same in words &in figure
 The cheque should not carry a date older than the receiving for more than 6 months.
 Bank &Branch name of the cheque, its number& date in the deposit slip
 Cheque must be signed
 Signature for confirmation of date, amount in word/ in figure cutting & mutilation of cheque
 Cheque must be crossed
 Account number in the deposit slip must be clear
 Depositor’s signature in the deposit slip
Next steps are crossing the cheque seal & endorsement seal must be given before send for clearing.
An officer records it in the computer.
Endorsement
For negotiation purposes, endorsement is done by placing the drawer's signature on the back of the
negotiable instrument. This shows a drawer's promise to make the customer fee.
23
3.2.4 Types of clearing House
There are two types of clearing house. They are -
1. Normal clearing house:

 1st house: normally stands at 10 am to 11 am
 2nd house: normally stands after 3 pm and it is known as return house.
2. Same day clearing house:

 1st house: normally stands at 11pm to 12 pm
 2nd house: normally stands after 2 pm and it is known as return house.
3.2.5 Dishonored cheque

Return house means 2nd house where the representatives of the bank meet after 3 pm to receive &
deliver dishonored cheque.
Cheque may be dishonored for the following reason:
 Insufficient fund
 Amount on figure & word differs
 Cheque out of date or post dated
 Payment stopped by the drawer
 Payees endorsement irregular
 drawers signature differs
 Crossed cheque to be represented through a bank
 Other specific reason not mentioned above
The registry officer records in the return log the dishonor check and the party are notified by call.
The signature of the party required to deliver the dishonor check in the return log. After the length,
the return check will be sent with return memo to the mailing address of the group.
24
3.3 Remittance Department
Banks remit fund from one place to another through their branches. Carrying cash money is too
risky. By remit money can be transfer from one place to another place through banking channel
this is called remittance. It is one of the safest ways to transfer money from one place to another.
Remittances are two types:
I. Local Remittance
II. Foreign Remittance
3.3.1 Local Remittance Department

UCBL has its branches overall the country. Best medium to serves for remittance of fund from one
place to another. Customers & non-customers both are use this service.
Remittance of funds
The main instruments of remittance of fund are:
 Telegraphic Transfer (TT)

 Payment Order (PO)
 Demand Draft (DD)
i. Telegraphic Transfer (TT): Telegraphic transfer is the fastest & safely way of transferring
money. It’s Done by telephone message.
It is an order for the payment of a certain sum of money to the recipient from the issuing branch
to the drawer bank / branch. Telex / Telegram sends the payment instructions and is paid to the
receiver via his account with the drawer branch or a pay order if the drawer branch does not
maintain a / c.
Requirements for sending TT
 Client should have account at UCBL & sending place.

 Client should pay commission, Vat & telex charge.
25
Procedure for sending TT
When client want to transfer money from UCBL from one branch to another branch the following
ways the customer should follow:
 At first collect TT from remittance Department.

 Deposit money in cash department, which he mentions in cash department or through
cheque
 Then client collect cost memo from remittance division, which work as evidence in favor
of the client
ii. The licensed officer put test code in the TT register and then the approved officer sends a
telephone or telex message to that page. This message contains the number of the user, the
number of the check, the level, etc.
Pay Order:
Pay order is an order made by an issuing branch or bank upon customer for payment of the amount
stated in that appointed pay by order of the customer. Pay order issued for local payment only.
Pay order issue Process:
1. For issuing pay order the client has to submit an application form to the remittance department
in the prescribed form properly filled up & signed by applicant.
2. Applicant has to pay in cash or through cheque
3. The bank issue a pay order duly crossed A/C payee
Charges
Up to 400000-
Commision-50
Vat – 15% of commission
Above 400000-
comission-90
VAT-15%
Payment of Pay Order
26
As the P.O is cross A/C payee, the same are present to the issuing branch for payment either
through clearing or for credit to the client account. P.O when present for payment is process in the
remittance department. On make payment, the relative entry in the P.O. register is mark by entering
the date of payment in the P.O register.
Demand Draft:
Request draft is a document comprising an order from the issuing branch to another branch known
as the drawer branch for payment by the recipient of a certain amount of money to the fee or to his
order on request.
Process of Issuing a Demand Draft:
1. Application form properly filled up signed by the applicant
2. Completing the lower portion of the application form meant for bank use.
3. Calculating total amount in taka including bank’s commission charges etc.
4. If the check is submitted for the D.D officer's fee, the check should be duly approved by the
appropriate authority for payment and the DD's data should be registered. On the test.
5. If the buyer wants his account to be debited with the branch for the amount of D.D. The officer
will receive proper confirmation of the A / c signature from the signature card on the A / C branch
& debit customer record for the total amount including tax, fees etc.
6. If cash deposit is required, request the purchaser to deposit money at cash counter.
7. The cash department, after processing of the application form, cash or cheque, will validate the
application form.
The application form is sent to the remittance department for further process. The remittance
department issues a DD in favor of the client.
The issuing branch sends credit advice to the drawer branch for making payment.
27
Payment of Demand Draft:
The issuing branch of the bank sends an advisory to the drawer branch after sending a bank draft
to the buyer. When a D.D arrives at the drawer branch for payment, the specifics should be
carefully examined with references to the following points:
1. Whether the draft is drawn on their branch.
2. Whether the draft is crossed or not.
3. The sign of the authorized officer of the issuing branch is to be verified to be sure that draft is
genuine.
4. Endorsement on the back, the draft must be regular in case of presented through clearing.
5. The amount of the draft should not exceed the amount written on red ink on the top of the draft.
6. The payee is to be properly identified in case of cash payment. The particulars of the draft
number, date, amount, name of the payee should be verifying.
After verify, payment is making & necessary entry is making in the D.D payable register. If the
client is from other branch, then payment is making through LBC, in case of client of other bank,
payment is making through clearing.
Stop Payment of Demand Draft:
Since the issuing branch issues the document, the draft's pay or buyer cannot give the drawer
branch stop payment instructions. If a paying branch receives an application from the pay /
endurance or the purchaser for stop payment, they will be asked to address the issues for that
reason.
3.3.2 Foreign Remittance Department

FRD department involve payment of foreign draft, Payment of money from abroad. Of drawing
arrangements with exchange companies located in countries like-
Kuwait, Oman, Bahrain, Saud Arabi, UAE, Malaysia, Singapore, UK, Italy, Canada etc.
28
Foreign department includes-
1. Payment of FTT
2. Payment of FDD
The money from abroad can be received into 2 ways:
1.Web Payment
2.Head office TT
The remittance comes through Web are paid instantly. The exchange media are:
Western Union Al-Fardan

X-press Money Instant Cash
Al –Ansari NBL Quick Pay etc.
Samba
The remittance also comes through Head Office as TT to the branch. The branch issue pays order
for these TT for cash payment. If the client has a/c with the bank then money transfers to the A/c.
Requirement for receiving

For receiving money, client has to provide the following information:
 Name of the receiver

 Name of the borrower
 MTCN number
 Phone No of both sender & receiver etc.
 Present/permanent Address
 Amount of money etc.
 photocopy of ID/passport
 Occupation etc.
The officer collecting the information & prove a computerize document for make payment through
pay order / instantly.
Foreign D.D:
Moreover, the bank also receives Foreign Draft which is paid through clearing to the client.
29
Bills Collection:
One of the most important functions of UCBL is to collecting bills for customers:
i. Outward Bills for Collection (OBC): OBC exits with branches different bank outsides the
local zone. The bank must send letters to the responding branch. Here is a branch that sends
another bank's check to the branch outside of the local branch to collect bills. Here the branch
outside collecting bills and sending the check to the collecting branch & the branch makes
transaction to the customer.
ii. Inward bills for collection (IBC): The client receives a forwarding letter when the bank
collects the bills as an agent of the collecting branch. Here the bank receiving checks from
outside or from the local branch and collecting bills and sending them to the branch of
collection.
iii. Local bills for collection (LBC): LBC exist with different branches within the local zone. It
is a transaction between two branches within a boundary.
All the Bills for collection are recorded in register containing the following information:
 Date  Amount
 customer  Particulars of instrument
 Their no.  Collecting Agent
 Drawn on  Commission, Postage etc.
Necessary vouchers are prepared like debit, credit &contra voucher & send for transfer.
3.4 Accounts Department

In banking every day these transactions will be record by a systematically. By improper record of
transaction will leading to the mismatch in the debit & in the credit side. To avoid these mishaps,
the banks provide a separate department whose function is to cheque the mistakes in passed
vouchers or wrong entries or fraud or forgery. This department is called accounts department.
Beside this the bank has to prepare some internal statement as well as some statutory statements,
which are to be submit to the central bank & the Head Office.
30
3.4.1 Functions of Accounts Department
 Record the transactions in the cash book.
 Record the transactions in the general & subsidiary ledger
 Preparing the daily position of the bank comprising of deposit & cash.
 Preparation of a regular statement of business displaying all of the branch's assets and
liabilities separately as per general & subsidiary ledger.
 Make payment of all the expenses of the branch
 Record inter branch fund transfer & provided accounting treatment in this regard
 Preparing monthly statement of the employees
 • Preparation of the weekly location of the branch sent to the headquarters to maintain the
savings account requirement (C.R.R)
 Preparing weekly position for the branch which is sent to the head office to maintain
Statutory reserve requirement (S.L.R)
 Making charges of different types of duties
 • Prepare them for the branch by setting the income & deposit target so that appropriate steps
are taken to produce and mobilize profit.
 Checking of transaction list
 Record of the voucher in the voucher register
 Packing the correct vouchers according to the debit & credit voucher
3.4.2 Daily Statement

Daily statement is a major statement to calculate the transaction of a day.
It is preparing at the end of the day. Daily statement provided the actual position as well as liability
of banks it contains the following information:
 Total deposit
 Total sundry deposit
 Total bills payable
 Total loans &advances
 Cash in hand
31
 Prize bond
 FC in hand
 Bangladesh bank (LCY)
 Bangladesh Bank (FCY)
 Sonali bank (as an agent of Bangladesh bank)
 Islami bank Bangladesh limited
 Standard Chartard Bank Limited
3.4.3 Transfer Book

Transfer book is a daily activity of accounting process. It is a handwritten function. Account
Officer have to make entry of each and every transaction in transfer book without cash & clearing
voucher.
Payment book contains as debit & credit two sides of the fee. Each and every transaction on both
sides of the transfer book must have the same amount. All vouchers, documents and instruments
recorded in the transfer book will include the transfer seal and the transfer number of the book. It
is registered in the ledger book by the account officer before the machine is released. Finish of the
bank hour account officer calculating transfer amounts and debit balance & credit balance must be
equal to the number of vouchers issued on that day to be recorded in the voucher ledger from the
transfer book.
3.4.4 Voucher Register

Voucher register is a record book of no of voucher. Number of vouchers is making every day is
recording in voucher register as per date and under particular head. No of vouchers are recording
under following head as:
1. Ledger C/D: No of voucher make on current deposit on a particular date.
2. Ledger S/B: No of voucher make on saving deposit on a particular date
3. Ledger cash book: No. of voucher make on cash book.
4. Ledger Income/expenditure: No of voucher make for income/expenditure
32
5. Ledger B/L: No of vouchers make for bills payable.
6. Ledger Subsidiary: No. of voucher make for subsidiary
7. Ledger IBTA: No of voucher make on IBTA online in a particular date.
8. Ledger Loan: No. of voucher make on loan.
9. Total Ledger: Summation of no of voucher make on a particular date.
3.4.5 Cash Book Record

Cash book recording is one of the daily statements preparing at the next day of the working day.
Understanding the actual condition of Cash Book is using it. Report the information collected from
the previous day's bank accounting data sheet in the cash book. DR number is put on the credit
side & Cr in the money ledger. Place the number on the Right Side.
The information’s of cash book as follows:
Total voucher = CIBTA + Subsidiary +Bills Payable + Current Deposit + Savings + Cash
Book + loan + Income/Expenses.
CIBTA: Summation of amount of CIBTA
Subsidiary: Summation of amount of sundry deposit and sundry asset.
Bills Payable: Summation of Pay order issued, Pay slip, Demand Draft payable
Current Deposit: Amount of current deposit
Savings: Amount of savings deposit is placed.
Cash Book: Summation of amount of short-term deposit, fixed deposit, MMS, NMS, LBC,
LDBC, Banks liability.
Loan: Summation of amount of Loan general, SOD general, cash credit, Packing credit, LDBP.
Income/Expenses: Summation of amount of Income/Expenses.
33
3.4.6 Supplementary
UCBL prepares supplementary to keep record of all about all the transactions occurs in a
transaction day. In supplementary all the instrument are particulars:
1. Supplementary for cash credit

2. Supplementary for fixed deposit
3. Supplementary for SOD
4. Supplementary for Income
5. Supplementary for STD
6. Supplementary for UCBL monthly savings scheme
7. Supplementary for savings bank deposit
8. Supplementary for Liability
9. Supplementary for Demand Draft
10. Supplementary for Pay Slip
11. Supplementary for Payment Order
12. Incoming Online Registered for all A/C type
3.5 Cash Department

Bank, as a financial institution accepts surplus money as deposit and give them opportunity to
withdraw by cheque or cash etc. Cash team plays a major role in banking operations. It delinks a
bank's main function of obtaining deposit and paying on demand cash. This depends on the
department dealing directly with customers, the bank's credibility.
Function of Cash Department:
3.5.1 Cash Receiving

When customers want to deposit his/her money then he deposits it by pay slip in the cash counter.
After received money pay slip from client, officer do the follow this:
 Officer ensure that all the writing on pay slip have been right.
 They count money & write denomination in the backside of the pay slip
 Then officer put cash receive seal on the carbon copy of the pay slip
34
 Officer put his signature on the carbon copy of the pay slip
 Then register in cash receive register book.
3.5.2 Cash Payment

When the depositors want to withdraw their money, they present or order cheque for withdrawing
cash from cash counters. On the deposit desk, the holder of the first deposit will present their
check. Authorize the officer to check your check and balance of the sum in your account. If all
right then the balance was debited to the account of the depositor on which the check was drawn.
If the signature shown on the sample signature card has any trouble confirm. Then signing on the
back side of the cheque & authorize officer make payment. The authorize officer have to maintain
cash payment register which includes-
 Cheque No.
 Account No.
 Payment Amount
 Authorized signature
 Payment date
3.5.3 Transaction Cash Money

The start of the banking hour in charge of the cash department supplying the counter officer with
some money from the vault meets the demand of the customer. Cash in charge keeps the sum
registered. The amount must be equal to the balance on the receipt & transaction book at the end
of the banking hour account.
3.5.4 Vault Requirement

Maintain five million taka in their vault to meet their daily transaction. Every vault has an
insurance premium which limit is five million taka.
35
3.5.5 Cash Balance book
In cash balance book keep record of that cash has maintain by the cash in charge. The opening
balance in the cash balance book must always be the closing balance of the previous day. All
payments must be added with opening balance at the end of the banking hour and then subtract all
of his fee from the total balance. Remaining balance has proceeded as the next payment day's
opening balance.
3.5.6 Cash Packing

After banking hour, cash is pack accord to the denomination. Notes are count and pack in bundles
and stamp with initial.
3.6 Deposit Department

Deposit department is integral of all the departmental function. It performs the following activities:
 To recording all the deposit information’s of SB, CD, STD, FDR, NMS, MMS A/C
after an account is opened.
 Verifying the signature with the computer recorded specimen in case of cheque receive
or payment & requisition slip.
 Confirmation of the balance in case of cheque receipt or payment.
 Making confirmation of the online deposit & payment.
 Posting all the vouchers according to cash, clearing &voucher
 Posting of all the requisition slip
 Balancing any amount of deposit & payment etc.
Receiving and paying by check is first posted on the computer and it sends to the cash office.
Online receipt & payment in cash or check & coupons are also displayed on the device. It is the
focus of all the operations of banking.
As a UCBL private bank, it is best to extend its service to the public. UCBL, Narayangonj Branch
offers local remittance, fee, check clearing, opening accounts, deposit scheme and money receipt
for all kinds of services to their customers.
36
3.7 Customer Service
Customers service most often including answering question, taking orders, dealing with billing
issue, handling complaints, and perhaps scheduling maintenances. The operation of the customer
takes place on site, by phone or on the internet. Any fee for the service of the customer. The
products of professional customers were primarily designed to build relationships with customers.
Nevertheless, it should not be confused with a company's service for sale.
37
Chapter 4
Findings, Recommendations and conclusion
38
4.1 Findings
The issues and problems encounter and identify during my Internship in United commercial Bank
Limited are as follows:
1. Delayed customer service is a problem of United commercial Bank and sometimes some
customer leave the bank.
2. Sometime UCBL server does not work properly. It must be occurring almost every day when
posting any voucher.
3. Some employees of UCBL are not experienced.
4. Their banking an activity is not fully computerizes.
5. It has to observing that there is lack of co-operation among employees.
6. Initiatives are not enough to train the existing staffs through seminars and workshops to update
banking system.
7. Customers always like shortcut system to withdraw their money. Like another bank, they do
not have enough ATM Booth.
8. Every cash counter is very important to bank. but United commercial Bank cash does not have
enough cash officer.
9. Bank environment maintain peoples are not sincere. Most of the time customers break their
serial for first service.
39
4.2 Recommendations
UCBL overall banking activities also good. In spite of much difficulty for me to give any
recommendation with my little working experience but I have tried as my best to give best
recommendation above short experience
1. UCBL have to providing more customer satisfaction, because now there is keen
competition in banking sector.
2. Online banking is so popular now a adays. So, the bank must update their banking server.
3. UCBL should take experienced employee through recruitment process.
4. Full computerization of all banking activities is necessary.
5. Management of UCBL have to take necessary initiatives to developing inter personal
relationship among the employees through participate in various social and cultural
programs.
6. The employees must be motiving by the superior when they do something good and
creative.
7. For customer satisfaction UCBL must setup more ATM booth.
8. For a good leading bank, they must take enough cash officer.
9. The banking committee must be sincere to maintain the bank environment. For this they
have to take well trained security people.
40
4.3 Conclusion
As I was an intern in the United Commercial Bank LTD for three months, I had the opportunity to
work almost all the desks. Also, it helps me a lot to understand and face the real-life problems
regarding banking activities, which is not possible to face and understand only with the help of
academic knowledge.
In the time of in conquerable economic conditions, National Bank Ltd has created goodwill in the
banking sector. It has some challenges, but good things are to be honestly following Bangladesh
Bank's laws, regulations and advice. Bank is more up-to-date with its software, its operation
efficiently with the satisfaction of its client.
The Bank has experience and highly educates managing director. The other directors are also
intelligent and educate. Their innovative idea is creating new opportunities for the Bank. However,
officers have to follows the rules and regulation very strictly. Performance appraisal function is
periodically monitoring.
During three months internship program at almost all desk have been observed more or less.
Because of the time limit, the depth of each operation is not feasible. So, this internship's goals
were not met with complete satisfaction. In view of achieving the goals and making the report the
most successful effort.
I get that their overall performance and development is useful as the basis for measuring and
assessing UCBL's financial performance. Because the employees are given their best efforts to
improve their efficiency, they are also given proper guidance and suggestions to the employees so
that they work for the Bank more efficiently.
I am very grateful to every single person of my University, United Commercial Bank LTD. and
people around me who help me to complete my internship and open up a new world in front of
me.
41
4.4 References
1. Chowdhury, L.R. (2002) “A Textbook on Banker’s Advances,” Fair Corporation, second
Edition.
2. Peter S Rose “Commercial Bank Management” Richard D. Irwin INC 1991, 5th Edition.
3. Annual Report of United commercial Bank Limited, published by 2016, 2018.
4. UCBL General banking policy book.
5. UCBL Foreign-Exchange Banking policy guideline.
6. www.ucb.com.bd
7. www.bangladeshbank.org
42

An Evaluation of Deposit Schemes of United Commercial Bank Limited

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An Evaluation of Deposit Schemes of United Commercial Bank Limited

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An Evaluation

Date of Submission: 17/12/2019

Subject: Submission of Internship Report on “An Evaluation of Deposit Schemes of United

As a part of the BBA completion program, I am complete my Internship on “Deposit Schemes of

I wish her all success in future life.

Mohammad Shibli Shahriar

I am a student of business administration, so I am complete my internship report in United

I worked in United Commercial Bank Limited at Narayangonj Branch. My internship program's

In this report, I am extremely grateful to my supervisor Mohammad Shibli Shahriar Department

During my internship period, I am trying to follow supervisor’s guideline. My practical experience

1.2 Background of the Study

.To analyze deposit schemes of United Commercial bank Limited.

To evaluate deposit schemes of United Commercial bank Limited.

To find out some problems of those schemes.

To suggest some recommendations on the basis of findings.

1.4 Scope of the report

1.5 Methodology of the study

2.2 Historical Background of the Organization:

 High quality financial services with state-of-the-art technology.

2.5 Core Values

In Serving the Bank

2.8 Management System

Branch Location Branches

2.11 Corporate Social Responsibility

1. Account opening Department

3.1 Account Opening Department

1) Current accounts (CD)

Account Opening Procedure

Step 1 The Account should be introduced by one of the following:

 An Existing current Account holder of the Bank

Step:3  The form is filled up by the applicant himself/herself

Step:4 Authorized officer accepts the application

Step:5 Minimum Balance is deposited

Benefits (Condition Apply)

3.1.2 Savings deposit

Benefits (Condition Apply)

3.1.3 Short Term Deposit

Benefits (Condition Apply)

3.1.4 Fixed term Deposit

FDR for 6-10years 8.25%

3.1.5 Monthly Saving Scheme (MSS/NMS)

Monthly Return after 3 Return after 5 Return after 8

500/- 20,813/- 37,253/- 68,132/-

1000/- 41,627/- 76,506/- 136,265/-

2000/- 83,254/- 153,012/- 272,530/-

3000/- 1,24,881/- 2,29,519/- 4,08,796/-

4000/- 166,509/- 306,025/- 545,061/-

5000/- 208,136/- 382,531/- 681,326/-

10000/- 416,272/- 765,063/- 1,362,653/-

3.1.6 RFC Deposit

Benefits (Condition Apply)

Benefits (Condition Apply)

Benefits (Condition Apply)

Issuing Cheque Book

Application Form for Current /Savings/STD/FDR Account holder

In case of current account-

In case of limited company:

In case of Fixed deposit: FDR slip contains

Closing of an account may happen-

 If the customer is desired to close the account

3.2 Clearing Department

3.2.1 Function of Clearing Department

3.2.3 Receiving cheque for collection

1. Normal clearing house: