SBAC Bank exempts late fine on monthly installment of DPS

South Bangla Agriculture & Commerce (SBAC) Bank Limited has exempted late fine on monthly installment of deposit savings schemes.

All monthly-based deposit scheme clients will be able to avail this exemption facility till June 30, 2020 from the declaration of the general holidays i.e March 26, 2020.

For the betterment of the clients, SBAC Bank Management Committee (ManCom) has taken this decision, the meeting was held on Thursday at the bank's head office presided over by bank's Managing Director & CEO (Acting), Tariqul Islam Chowdhury.

It is declared that if any client fails to pay monthly installment for the adverse situation of Coronavirus, the DPS clients will get additional consecutive three months to pay monthly installment, at the same time, they have to pay regular monthly installment as well.

Besides, the Bank will automatically deduct the monthly installment of DPS from those clients' accounts, who has agreement with the bank subject to fund availability. Among them, who has insufficient balance in the bank account, they will be also under this exemption of late payment.

-rmc/