National Bank

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TERM DEPOSITS
Term deposits are fixation of certain amount of money for a specific span of time. These can be of majorly two types i.e. short term notice deposits and long term notice deposits. Different rates are charged for different period of times like as shown by following table. If presented before maturity then previous period rate would be charged.

Duration     Rate Of Interest
 01 month           08.1%
 02 month           10.1%
 03 month           11.0%
 06 month           11.5%
 01 year              12.5%
 02 year              13.3%
 03 year              14.5%
 05 year              16.4%

The instrument term deposit is like a slip containing issuing bank name, a/c # to operate on computer, deal #, customer name, reference #, date of issue, amount, rate maturity date etc.
 

CALL DEPOSITS
These call deposits are presented in the bidding process as guarantee or security from the bank that this much money is deposited in the bank. These are made in the favor the party offering contract or any other person. The bank offer no interest rate on it because these can be called at any time. For encashment the applicant must have to cancelled the call deposit instrument from its beneficiary. For collection the beneficiary usually send the authority letter for paying in the shape of Demand Draft or pay order. The call deposit instrument containing the information regarding applicant and beneficiary name, joint name a/c opened, signature cards for encashment, reference #, amount, date of issue, authorized signature etc.
 

OTHER PRODUCT / SERVICES
The privatization process for the expansion and diversification of economic activities in the country also demanded the introduction of new banking products. MCB took initiative in this direction and for the first time MCB devised and marketed new products and services with brand names to enter the varying requirements of its diverse customers. MCB currently have following products or services in banking sector that are making it more prominent in the banking sector:

  • Night Banking
  • Fax Utility
  • Consultancy Services
  • Traveler Cheques
  • Self Supporting Scheme
  • Utility Bills Collection
  • Credit Cards
  • ATM

 

CONSULTANCY SERVICES
In the process of privatization of public sector units, prospective buyers need professional assistance and MCB, with its expertise offers to their specialized service for valuation of the market value of the industrial unit, preparing bid documents and arranging finance for the purchase of the unit.

SELF SUPPORTING SCHEME
  • Loan for poor/needy people
  • No mark-up charged
  • Maximum amount of Rs. 25,000/=
  • Minimum amount of loan Rs. 5,000/=

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