General Banking Activities of Mercantile Bank Limited, Dhanmondi Branch

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General banking activities of mercantile bank

It is the most important side for a bank. Bank is nothing but a middleman between lenders (surplus unit) and borrowers (deficit unit). To provide loan bank need huge amount of money from the depositors. General banking is the side where the bank offer different alternatives to the client to depositors and remitted their money. To encourage the clients banks offer different option in front of their clients. Most of these options are very much similar between the banks but the customer service and facilities are different.

General banking of mercantile bank ltd. Is divided into four parts these are:

General banking

Figure: general banking division of mercantile bank ltd.

To described the general activities of mercantile bank, these four section’s activities and functions represented below:

Account opening section

4.1. Account opening section

Banker-customer relationship begins with the opening of an account by the customer. Opening of an account binds the same into a contractual relationship. But the selection of customer is very crucial. In fact, fraud and forgery of all kinds start by opening of an account by the customer (s). So, the bank takes extra care in its selection. One of the basic functions of commercial banks is to accept deposits. For accepting deposits both demand and time, Prime Bank Sylhet branch offers the following types of accounts-

A. Demand deposits (Withdrawal on demand)

 Saving Bank Account

 Current Account

B. Time Deposits (Payable at a fixed date or after a period of notice)

Contributory Savings Scheme

Monthly Benefit Deposit Scheme

Education Savings Scheme

Fixed Deposit Scheme

Short Term Deposit

Lakhopati Deposit Scheme

Double Benefit Deposit Scheme

Foreign Currency Account