Write to your friend telling him about different kinds of loans your bank can offer
and mention the terms and conditions he should fulfill to get loans. JAIBB
Brae Bank Ltd.
Motijeel C/A
Dhaka-1000
Dated: March 20, 20..
Mr. Azadur Rahman Choudhury Dated: March 20, 20..
15, Kagagitola
Sutrapur, Dhaka
Dear Azad,
In your letter of February 15, 20.., you wanted to know about the different types of loans my bank can offer to the people.
My bunk does not sanction long term loans to the clients.
It only sanctions short and medium term loans to the people.
Heavy loan for long term period is not sanctioned by my bank.
Our mutto is to grant small and medium. amount of loan to maximum number of customers.
Here I am giving a detailed account of the various types of loans that my bank can grant to the interested clients.
My bank usually grants loans, cash credils and overdrafts.
Loan is granted againts appropriate security for a maximum period of three years.
Loan granted to a client is transferred to a loan Account opened in his name.
He can withdraw the amount of loan as and when necessary and interest is charged against the actual amount withdrawn.
Cash is sanctioned against acceptable securites and the entire amount is transferred to a current account opened in his name.
He can withdraw the amount by drawing cheques from time to time,
but interest is charged on the entrire amount of the loan sanctioned.
Overdraft is sanctioned to Current Account holders subject to prior arrangement.
Security is also necessary here. Here interest is charged on the actual amount overdrawn.
Acceptable securities to the bank are shares of enlisted companies, godown,
stock of raw materials and finished goods, Fixed Deposit receipts, Government Papers, Treasury
Bills and claimless property etc.
Thank you. Yours faithfully
Anik Chowdhury
Manager.
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