TARA FAQ
TARA Triple Benefits Savings account
Who can open this account?
- Any female customer can open this account.
What is the opening balance required for TARA Triple Benefits Savings Account?
- BDT 10,000
Opening amount requirement for branches in Dhaka BDT 50,000
What is the interest rate for this account?
- The interest rate for TARA TBS account is higher than regular Triple Benefits Savings account. Also interest rate for each deposit slab as per below matrix will be given for female customers.
| Slab | TBS | TARA TBS |
|---|---|---|
| 50 K-< 5 Lac | 1.00% | 2.00% |
| 5 Lac-< 15 Lac | 2.00% | 2.50% |
| 15 Lac-25 Lac | 3.00% | 3.25% |
| 25 Lac-50 Lac | 3.50% | 4.00% |
| 50 Lac & Above | 4.00% | 4.50%* |
What is the Debit Card fee?
- Debit card fee is fully waived for the first year of issuance. From second year onwards, BDT 500 + VAT will be charged regardless of the balance in the account.
Is Debit card mandatory for TARA TBS account holders?
- Yes debit card is mandatory for TARA TBS account holders.
What is the Cheque Book Fee?
- As per regular schedule of charges for Triple Benefits Savings account, cheque book fee will be applicable. Regular deposit Schedule is attached herewith.
What is the account maintenance fee for TARA Triple Benefits Savings account?
- Account maintenance fee for TARA Triple Benefits Savings account will be as per regular Triple Benefits Savings account.
For existing female customers holding TBS account or current plus account can they have access to TARA offers?
- Yes. Existing customers can replace their existing debit card via call centre or branches and avail TARA debit card. There is no replacement fee for first time. However from second year onwards BDT 500+ VAT will be charged.
TARA Flexi Deposit Premium Scheme
What is TARA Flexi Deposit Premium Scheme?
- TARA Flexi DPS is a monthly deposit scheme, which is especially designed for female customers. The highest tenor for this DPS is 3 years. The special feature of the DPS is it pays more interest than any other DPS in the bank and only female customers can avail this.
What amount will be applicable to start a TARA Flexi DPS?
- Lowest amount is BDT 500 and it can be any amount multiples of BDT 500.
Do customers need to have a deposit account with us to open TARA Flexi DPS?
- Yes customers need to have a deposit account with us and also need to set a standing instruction for every month installment to be deducted from the account.
Is there any penalty charge for breaking TARA Flexi DPS in the middle of the Tenor?
- No.
Is there any penalty charge for missing any installment for TARA Flexi DPS?
- Yes these are penalty charge for missing installment for TARA Flexi DPS.
| Tenor | TARA Flexi DPS |
|---|---|
| 1 Year | 4.00% |
| 2 Year | 5.00% |
| 3 Year | 6.00% |
Is there any separate current account for TARA customers just as there is Savings account ?
- No. TARA customers can open Current Plus account if they wish to open current account, however they can change the Debit card to TARA Debit card.
Fees related to current account which one will be applicable?
- The card fee will be of TARA debit card if she wishes to have TARA debit card however, all other charges related to account will be of Current Plus.
TARA Personal Loan
WWho can avail the personal loan?
- Self-Employed female Professionals, Female Self-Employed Non Professional and Salaried Women.
What is the loan limit ?
- Maximum BDT 10 Lac.
How is it different from normal PL?
Please note the features for Personal Loan for TARA customers:
- * 0.50% processing fee
- * 30% lifetime annual fee waived with bundle offer of Credit Card according to loan amount.
- * TARA TBS account with zero balance as loan disbursement account.
- * Interest Rate: 0.5% discount on interest rate on booking rate.
TARA Auto Loan
Who can avail the TARA Auto loan?
- Self-Employed female Professionals, Female Self-Employed Non Professional and Salaried Women.
What is the loan limit ?
- Maximum BDT 40 lacs.
How is it different from Auto Loan?
Please note the features for Personal Loan for TARA customers:
- * Less 0.50% processing fee
- * 30% lifetime annual fee waived with bundle offer of Credit Card according to loan amount.
- * Loan tenure up to 5 years
- * TARA TBS account with zero balance as loan disbursement account.
- * Interest Rate: 0.5% discount on interest rate on booking rate.
TARA Home Loan
Who can avail the TARA Home loan ?
- Self-Employed female Professionals, Female Self-Employed Non Professional and Salaried Women.
What is the loan limit?
- Maximum BDT 1.2 Crore
How is it different from normal Home Loan?
Please note the features for Personal Loan for TARA customers:
- * Less 0.50% processing fee
- * 30% lifetime annual fee waived with bundle offer of Credit Card according to loan amount.
- * Loan approval in 3 days
- * Interest Rate: 0.5% less than the current rate in case of single applicant on initial interest rate
- * TARA TBS account with zero balance as loan disbursement account.
TARA SME loan
Who can avail TARA SME LOAN ?
- Small and medium sized trading, manufacturing, service, agriculture, agro-based industries, etc. businesses run by or majority (more than 50%) share is holder owned by women entrepreneurs (as per Bangladesh Bank Guideline).
What is the Purpose of the loan ?
- Business expansion, working capital, fixed asset (machinery, office equipment, furniture, construction, renovation, possession purchase etc.) purchase, advance payment, agriculture production/trading, and other business purposes.
What is the Interest rate of TARA SME LOAN ?
- For loans up to BDT 5.0 Million 10% (as per Bangladesh bank refinance policy) For loans above BDT 5.0 Million to BDT 50.0 M: On respective PPG, Card Rate will be followed.
Business Location ?
- The business should be located surrounding the SME unit offices/branches/SMESC/SME/ Krishi branches across the country. The demarcated area would be defined time to time by the Regional Head/ SRM and communicated separately.
What should be the minimum Age of Business?
- The business should be in operation for 1 year (doing similar type of business in terms of item/product/service and target customer) for loans under BDT 5.0 M. For more than BDT 5.0 M minimum 2 years continued business operation is required.
- The business has to continue in same business premise for the given time period. Change of premises once in last 1 year is allowed subject to continuity for 6 months in current location for new loans only. However, for repeat loans this clause (continuity for 6 months in current location) is not applicable.
What is the Eligibility of Owner(s)?
Please note the features for Personal Loan for TARA customers:
- Nationality: Bangladeshi by birth.
- Age: 21 to 65 years at the time of application, but the proposed loan tenure must cover age ceiling.
- Experience: Should have minimum 1 year experience in same line of business as an entrepreneur. For loan size more than BDT 5.0 M minimum 2 years of business experience is required.
Loan limit ?
| Secured | BDT 1 Million - BDT 50 Million |
|---|---|
| Partially secured Loan | BDT 0.5 Million - BDT 5 Million |
| Unsecured | BDT 0.2 Million - BDT 2.5 Million |
| Amount | Amount |
|---|---|
| BDT 0.2 Million to BDT 0.8 Million | 12 Month |
| BDT 0.8 Million to BDT 1.5 Million | 24 Month |
| BDT 1.5 Million to BDT 2.5 Million | 36 Month |
| More than BDT 2.5 Million | 60 Month |
What is the Determination of Repayment Capacity?
- EMI amount should not exceed 70% of monthly income of the business.
TARA Premium Banking offers
Is TARA proposition applicable for Premium Banking Female customers?
- Yes. Any female customer opening a TARA TBS account with required balance for premium banking will be entitled for TARA Premium Branded chequebook and TARA Platinum Debit card.
What is the offer for existing Premium banking customers?
- Existing Premium Banking customers can replace the existing debit card to TARA Platinum Debit and avail the offers. She can replace the card via call centre and through her relationship manager as well.
Existing Premium banking customers can they avail TARA branded chequebook ?
- No TARA branded cheque book is only applicable for TARA TBS account holder of Premium Banking customers. They can only replace the debit card to TARA Platinum debit card.
TARA Credit Card
What are the features of credit card for TARA customers?
- TARA customers can now avail TARA Platinum Credit card with an annual fee, 30% discounted for life time in comparison with regular Platinum debit card.
- The annual fee for the card is 3500+VAT.
- Any female customer is eligible to avail TARA Platinum Credit Card.
- TARA Platinum Credit card is also applicable for customers who has limit sanctioned for Silver and Gold, which means if a female customers wants can avail TARA Platinum Credit Card with the card limit approved for herself instead of Silver and Gold Card.
- All Platinum features along with TARA Features will also be applicable for TARA Platinum card holders.
- Only 4000 reward points required for TARA customers to waive the annual fee.
What is TARA Tuesday ?
- On every Tuesday TARA customers holding TARA TBS account will receive double reward points for card transactions of minimum BDT 500 from the account. Also TARA Platinum Credit Card holders will receive double reward points for every BDT 50 spent from the card.
What is cash back feature for TARA customers?
- For the first time TARA customers holding TARA TBS account will receive monthly cash back in the account maximum BDT 500 or 2% of the grocery transaction made from her account through the debit card.
Is there any health benefits given to TARA customers under this proposition?
- Yes. TARA Lending customers can enjoy TARA-Tonic package from Telenor with one year subscription fully free. Detail of it will be available in the website of Telenor. Please search TARA-Tonic package or visit our page TARA women banking segment.
How is TARA debit /credit card different from regular cards of the bank?
- TARA cards have 54+ vendor offers for the first time which all are associated with Restaurants, Parlour, Lifestyle Shops, Online vendors.
Is there any Facebook Page for TARA?
- Yes. Please look for TARA- BRAC Bank in Facebook.
Is there any way to know all offers with TARA?
- Yes, please visit TARA Webpage under: www.bracbank.com /tara also our call centre : 16221 can help you with TARA Proposition.
Is there any privileged counter for women in the branches?
- For TARA customers there is a special service counter as well as cash counter, please look for 'TARA' in branches.
TARA is another women banking segment just like any other banks is this right?
- No, TARA is not only banking products it is especially designed for women baking customers which involves lifestyle offers with discounts round the year, higher interest rates on your savings, high value credit card with lower annual fee, development and networking activities with women customers, SME lending products with better features and retail loan products with better features. A 360* approach for women of our society.