I am honored to present my Internship Report on Home Investment Process: A Study on EXIM Bank Ltd. at Savar Bazar Branch. I am glad that I got an opportunity to do my internship in a reputed organization like Export Import Bank of Bangladesh Limited, Savar Bazar Branch. I enjoyed preparing this report which enriched my practical knowledge of the theoretical concepts learned in various courses.
First of all, I would like to thank my academic supervisor of the internship program Dr. Under my guidance and supervision, he successfully completed an internship report on Home Investment Procedure: A Study on EXIM Bank Ltd at Savar Bazar Branch, summer 2019. This report focuses on Home Investment Procedure: A Study on EXIM Bank Ltd at Savar Bazar- branch.
The first chapter is about the presentation of the project work as introduction, Scope of the research, objective of the study, scope of the study, limitations of the study. This chapter explains various important data about EXIM Bank Ltd like Background of the organization, corporate information of the organization, corporate governance, mission, vision, Products and services, Porter's five forces.
Introduction
- Objectives of the Report
- Broad Objective
- Specific Objective
- Primary Sources
- Secondary Sources
The report is prepared on the basis of the experience gained during the internship. An important feature of the report is the use of primary and secondary data.
Scope of the Report
Limitations
Export Import Bank of Bangladesh Limited was established in 1999 under the leadership of Mr. Late A group of highly qualified and successful entrepreneurs joined hands with the founding chairman to realize his dream. Nazrul Islam Mazumder, who is an exposed business capitalist in the Garments business in Bangladesh, became the Honorary Chairman after the demise of the honorable founder chairman.
The Bank started with the name of Bengal Export Import Bank Limited from 3rd August 1999. This bank has earned a secure and distinctive position in the banking industry in terms of performance, growth and excellent management, through their pragmatic decisions and management directives in the operational activities . The Bank migrated all its conventional banking operations to Shariah-based Islami banking in the year July 2004.
Kazi Masihur Rahman became the managing director of the bank in 2006 when Mr. The bank is placed on a state-of-the-art centralized information platform with two modern data centers running the world-renowned core banking software TEMENOS T24 along with some alternate delivery channels such as ATMs and SMS banking under Mr.
Corporate Information of the Organization
Corporate Governance
Organizational Chart of EXIM Bank
Mission
Vision
Corporate Social Responsibilities
Porter’s Five Forces Analysis of EXIM Bank
- Bargaining Power of Buyers (High)
- Bargaining power of Suppliers (Moderate)
- Rivalry among existing Firm (High)
- Threat of new entrants (Low)
- Threat of Substitute Product (High)
Because there are so many banks and insurance companies in the market, many banks can meet the needs of customers.
Products and Service
Sections of General Banking
Introduction to Home Investment Scheme
In that case if I want to get construction and Home Investment scheme, I have to open a general account first (where the bank will transfer the money). For the first 6 months it is not necessary to pay money, but after that I have to pay with profit rate and without delay.
EXIM Abasan : A product for Home Investment
Purpose of Investment Product
To construct a residential building – the customer can avail EXIM Bank House Construction Investment to construct his/her residential facility for his/her residential purpose only by creating a registered mortgage of the said property. Exim Bank House Construction Investment Facility The investment will be 70% of the total estimated construction cost. Disbursement will be made in various stages, before subsequent disbursement, EXIM BANK representative/authorized person will visit the property and assess the progress of construction of the building, and subsequent disbursement will be made on the basis of satisfactory progress of construction phase.
Consolidation of existing flat/any other investment from any bank/financial institution in plan to EXIM BANK as per DBR & LTV guideline. Existing domestic investments will be supplemented if necessary due to consolidation. i.e. consolidation of personal investments, investments in cars, credit cards, etc.).
Range in Home Credit Investments
The percentage of completion of the work would be determined by the value and the LTV would be calculated based on the foreclosure value of the property in its current condition.
Customer Segment
Nationality
Age Limit
Income Range
Investment Size
EXIM Abasan for Residential Approved Building/Flat
Security
Legal Document for Approval
For Government Land
Interest Rate
Processing Fee
Repayment Methods
At least 25% of the outstanding investment is allowed to be repaid at any point of time Final early repayment.
Disbursement Mode
Income Assessment
For the lessor's income must be reflected in the rental agreement or rental receipt and account statement. 30% of the last 3 months average variable allowances such as overtime are taken into account if they are reflected in the bank statement.
Computation of Income for Non-Salaried Applicant
If the applicant resides in his/her family home, then the DBR slab can be extended up to 5% in all categories on submission of supporting documents and justification from the respective clearance channels. Doctors who do not have significant account reflections must provide the income statement on their official letterhead or company letterhead and will be assessed based on the declared amount. If it is about having multiple Bank A/C, then one of the existing accounts must be at least 12 months old.
Multiple bank statements in the same business unit can be considered subject to the fact that there are no interbank transactions. NOTE: Apart from the bank statements mentioned, multiple bank statements in the name of individuals/different business entities will also be considered subject to submission of relevant supporting documents. Owner(s) of the property must be the primary applicant if the property owner and the primary financial beneficiary happen to be different.
Investment term will be determined based on the age of the owner of the property and/or the financially solvent person, whichever is the lowest. 28 Generally, second applicant is mandatory for all the proposals, except for the cases where the primary applicant happens to be both (the property owner and financially fit person) and agrees to assign his/her Life Insurance Policy (LIP) in favor of the Bank for the entire duration of the facility to mitigate the mortality and disability risk that may be caused to the borrower. A secondary applicant whose income is not considered for eligibility and is only associated with the facility by virtue of title ownership.
For proposals, where the co-applicant is someone other than a spouse while the incumbent is married, a No Objection Statement is obtained from the spouse.
Additional Second Home Investment
Verification of Customers
Acquisition Channel
Acquisition Process
Through the above interview process, the sales staff will arrange a meeting with the potential customer. During this conversation, the sales employee informs the customer about the bank's products and identifies the customer's needs. When the need is identified and the customer matches the bank's profile, the sales staff will go through the next detailed product presentation.
Documentation
Charge Document
Forwarded by source/Relation Officer and recommendation by permanent employee of EXIM BANK (preferably line managers). Available latest tax clearance certificate (not older than previous assessment year in case current year's tax assessment is under process). Board resolution for facilities of directors of Limited Companies where the facility amount has been assessed on the basis of the Limited Company Statements & PDC will be drawn on the same account.
For the TPA/FPA to see all the original legal documents and they should be marked as “ORIGINAL ORIGINAL”/Reported by the relevant official ie.
Restrictions / Exclusions
Guarantors Eligibility
Location of Clients and Mortgaged Property
Type work Stage Property
Current construction costs per square meters with the facilities proposed in the apartment/house. Registered sale deed & registered mortgage on the property must be completed within a period of no more than 12 months from the payment date. Developer companies will be recruited by the Retail Banking Division and approval must be obtained from the EC by providing complete details of the developer.
Terms and Conditions after Taking Scheme
In case the customers do not pay the bank's investment with the rent according to the installment period, the bank has the right to pay the rent at a fixed rate until the losses are recovered. The building/material must be used with great care and if any damage occurs to the facility then the customer must pay the outstanding portion of the principal amount and rent immediately. Non-payment of 03 consecutive installments, the client must pay compensation to the bank according to the bank's decision.
SWOT Analysis
Three experienced loan officers are available to handle any situations you may encounter during the home loan process. Credit officers depend on customer income statement and balance sheet records. The study found that most people are not satisfied with their interest rate.
Recommendations
Conclusion
