Consumer Credit Scheme Essay Example for Free

Consumer Credit dodging Essay decision maker SummaryInternship is an essential part of BRAC universities BBA program. As per the extremity of the BRAC University I have to perform 90 years or three months internship which ordain help to prove my potentiality in the practical field. I achieved the chance to prove the potentiality, which has given by the autochthonic confide Ltd. to commence my internship in the motijheel branch from twenty-seventh January to 27th April, 2009. As per the requirement of the internship program I have to prep be a report on the Prime Bank hold with a specific topic. I was assigned in the confidence division (corporate credit and retail credit division) so I have chosen Consumer credit scheme as my hurl topic. Prime Bank Limited started its journey on 171h April 1995 and now at the present time it has created a mile stone in the banking industry.From the first step to the present move the Prime Bank Limited is expanding its business. Expand ing 70 branches in the country was not enough for their glory they expand their fully owned foot soldier in Singapore also. They have different products and function, some of them are unique and others are common simply they always cope up with the changing situation and tough competition. Their authority is not centralizing which has a good effect because every one wants to prove their capacity and for that they have the authority which is very propel for employees. They give prosper that evict be seen from their vision which is to be the high hat Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound man erament, and profitability having strong liquidity.Besides both these positive aspects it has some difficulties in its way of success but it will over set out those within oblivious time because in its 14th year of operation in 2009, Prime Bank has made essential headway in terms of business growth, profitability and establis hing its image as one of the leading esoteric commercial banks. When the organization is like Prime Bank Ltd. then it is a tribute to learn the practical way of last and a great opportunity to prove potentiality. I am glad that I used the opportunity properly. In both of the division I got the chance to do the desk work and client dealings. In corporate credit I got to know the corporate clients and the way they place the proposals for loan and how the proposals operate to get the sanction of loan and in retail credit there was chance to work in more details. In retail credit (CCS) division I got the chance to attach with each work done in that department. On the whole it was a very nice practical experience.In the internship requirement completion of a project is also included and for that I have chosen Consumer Credit Scheme of Prime Bank Ltd. With the passing time, new competitors appear with better ideas products as well as services and creating more competitive situation in the market. Consumer credit scheme is one of the new innovative ideas which allow for to the credit essentials of the low middle income groups. Only Prime Bank limited and other fewer banks operate this scheme in a large volume. Consumer credit scheme of Prime Bank Ltd provides railway car Loan which includes Car, Jeep, Station Jeep, Pick up Van, Cover Van, Bus, Truck, Ambulance and both other vehicle for own use. Doctors Loan, which is for the doctors only. each qualified person can take advance against Salary loan. Education Loan is for Study single-valued function only. For fulfilling the traveling purpose Travel Loan is available. Wedding loan is also available for the purpose of wedding.CNG alteration Loan can be taken to convert into CNG. Any Purpose Loan is available for any emergency need. Hospitalization Loan is also available because this bank realizes the emergency need for hospitalization. These all loans need personal Guarantee. These loans require certain perc ent of equity investment and it has to be repaid by equal periodic installment. This loan has to be repaid within a specific period. Any arouseed person within the age of 25 to 60 and having a permanent job or having a stable business can apply for the CCS loan of Prime Bank Ltd. Under CCS program of Prime Bank Limited a borrower can get maximum of taka 40, 00,000 and minimum taka 10,000. The down payment is 10% of the loan for each product. The interest rate is 16% for the all products and Prime Bank Ltd. charges 1% service charge and 1% risk fund for all products other than for Car loan and Doctors loan.There is system of advance against salary and CNG mutation loan. This was the brief description of present CCS of Prime Bank Ltd. This scheme provides different facilities to the customers and its has popularity among the customers but there are some negative points where management should concentrate to get more response and satisfaction from the customer. These negative point s come from the dissatisfaction of the customers so it can be harmful for their way of achievement so they should give more tenseness to solve those problems. Prime Bank Ltd. should focus on decreasing interest rate which is very postgraduate from the customers point of view, and increase the loan payback period because customer think its short enough to agitate the bank for services. These changes will help to get competitive advantage for sure.Financing Scheme, Personal Loan for Women etc will help them to bring unique position in the market. They can go for the package products also because in this era people love to get various facilities with in one package program. All these will increase the market share of CCS in Prime bank undoubtedly but if they can pitch more active promotional activities with it then its obvious that Prime Bank Ltd. will be the best among the banks in Consumer Credit Scheme.