Customers Welfare Fund

Home / Customers Welfare Fund

Customer Welfare Fund (Product for Customers’ Security):
Customers’ welfare fund has been promoted with two objectives i.e. the social objective and the economical objective. The social objective recognizes social protection of the customers is necessary to reduce the vulnerability of households caused by different hazard to protect income and consumption. The economical objective is to increase the stability and profitability of poor households through reducing the impact of customer risk on loan and savings portfolios, generating additional revenue, supporting risk management, and reducing customers’ vulnerability to economic stresses.

Process of Customer Welfare Fund Generation & Cover Risk:
At the time of loan disbursement, the customers are pay cash or deducted from loan @ of BDT 1% on approved/disbursable loan amount of only the customers of Rural Micro Credit, Agriculture Sector Micro-credit and Seasonal Loan component. At head office, level there has a separate bank account to save this generated Insurance fund. Other than that only the customers of Ultra Poor Project (UPP) will pay cash or deducted from loan @ of BDT 0.5 % on approved/disbursable loan amount, as they are economically more vulnerable.

The customers are entitled through a policy to get following advantages-

  • Incase of loan receivers and or his/her nominated guardian in the approved loan application form death except suicide the entire loan balance will be treated as condone of loan money from the date of his/her death i.e. the office will not claim further to get back those loan money.
  • After death of the customer or guardian, the inheritors’ member can receive back all the deposited savings money with interest.
  • Incase of death of Ultra Poor Program (UPP) component loan receivers or her husband or main earning member of family except suicide the entire loan balance will be treated as condone of loan money from the date of his/her death i.e. the office will not claim further to get back those loan money. Similarly the inheritors’ member can receive back all the deposited savings money with interest. In addition to that, inheritors are entitled to get BDT 5,000 as grant to cover the family risk. Besides that, incase of serious sickness of Ultra Poor Project (UPP) component loan receivers or her husband or main earning member of family they are entitled to get BDT 3,000 as grant support to cover the family risk.

Leave a Reply

Your email address will not be published. Required fields are marked *


− 1 = one

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>