BRAC Bank has launched 'Prothom Account' to provide the banking needs of aspiring new entrepreneurs across the country.
'Prothom Account' is basically a personal current account for SME entrepreneurs, a press release said.
Any CMSME-sized business owners with a lowered opening balance and minimum document requirement can open the account. Women entrepreneurs will get additional benefits of TARA, a dedicated banking platform for women.
Syed Abdul Momen, Head of SME at BRAC Bank, said "The purpose of this new current account is to provide banking facilities to the micro and small business owners, new business owners and online business owners who often do not have a trade license."
No trade license will be required for opening 'Prothom' account. An account can be opened with only BDT 500 opening balance and the interest will be calculated on the daily balance which would be credited half-yearly. Also, the account holders would also be provided with a debit card with no issuance fees.
In addition to these, the NPSB charge for 'Prothom' accountholders for cash withdrawal from other banks' ATM will be BDT 5 only. Customers will also get free SMS alerts and an Internet Banking facility.