Describe about Premier Genius Account

Details about Premier Genius Account:

Introduction:

The Executive committee/ board of directors of The Premier bank Ltd in its 662nd meting held on March 172008 have approved a new product named “Premier Genius Account\’-a saving account for the student s of our country.

Premier Bank Ltd offers a banking pack for the students if you are a student, you will appreciate their new premier genius account with a number of extra benefits specially a higher rate of interest with some other benefits designed for the students of Bangladesh.

What are the features:

1. 7.5% p.a simple interest on daily closing balance. Effective rate will be 7.645however in case of Islamic Banking Branch, they will determine provisional profit rate, in the light of changes made, by themselves.

2. Interest is payable on half yearly.

3. Daily interest paid on daily closing balance.

4. Withdraw a maximum amount of tk.10000/-per day from any of our ATMs.

5. Free online banking for any amount in between of Dhaka clearing house area and Chittagong clearing area only

6. Free of charge standing instruction to transfer fund

7. free-pay order service (for self job application, admission and education purpose only)

8. Aftercompletion of the education, premier Genius Account will be converted in to regular savings account

9. VISA debit card for ATM users named Premier Genius Card”. Free for the 1st year.50% discount on annual free for rest of the years.

10. Premier Genius A/C holder will get priority service /discount for opening student. File for abroad.

 

Benefits of the parents

Parents can transfer fund from their bank account to Childs premier Genius account free of charge. So that his or her collage fees,tution, living expenses etc. are taken care of it.

If you have a premier bank VISA credit card, you can give your son /daughter a supplementary card specify a pre determined spending limit.

Who are eligible?

  • 18 years old or above
  • Bangladeshi by national
  • Enrolled in a full time program at under graduate/Post Graduate Level or equivalent in a recognized university or educational instution

 

Documentation needed to open this account

The applicant must provide the following documents:

1. Two copies of photograph

2. Acceptable Identity proof of the applicant such as an identity card, library card, pay slip, passport, if any, and a letter of conforming admission to the university or educational institution.

3. Photocopy of SSC or equivalent

4. A letter of introduction from the university/institutions where the course particulars including end date of the course to be mentioned.

Completed Account Opening from with a nominee From, KYC From 7 Photograph of nominee attested by applicant.

5. Details of parents/Gardians-name,address ,phone numbers,nationality,residential status.

 

Interest calculation:

Interest will be calculated @7.00%p.s on Daily closing balance.

Suppose an account holder maintained balance TK.2000/-from the 1ST November to 9th November, TK .00/- from 10th November and tk-5000/- from 16th November, the interest on that account for the month November will be calculated as follows:

  1. TK2000.00 X 9 days={(TK.2000X0.07)/360}X 9 days=TK.3.5
  2. TK  00.00 X 6 days={(TK0.00X0.07)/360}X 6 days=TK.0.0
  3. TK5000.00 X 15 days={(TK.5000X0.07)/360}X15 days=TK.14.58

So total interest on the above account for the month April will be TK3.50+TK0.0+TK14.58 = TK.18.08

Therefore to maximize the benefit of Interest from the account, student will be encouraged to maintain at least minimum balance of take 00/- in their Genius Account at all the times.

 

Fees and charges of the Premier Genius Account:

Account Closing chargeTK-200/-
Standing InstructionFree
Issuance of Solvency CertificateFree
Supply of Regular Statement of AccountFree of Charge
Supply of Duplicate Statement of AccountFree
Stop payment InstructionTK.50/-per instruction
Issuance of cheque bookIssuing 10 leaves=TK.25/-

Issuing 25 leaves=TK.50/-

Issuing 50 leaves=TK.100/-

 

Account Reactivation charge(if the minimum balance go below TK500/- at any time Account will be inactiveTK100/-
ATM fee for the Premier Genius Card(Free for 1st year only)50%discoun for the rest years.
Pin replacement FeeAt Actual
Cash withdrawal Fee(ATM)Nil(Premier Bank ATM)Other ATM at actual
Replacement Card FeeAt Actual
Payment Order (self job application, admission& educational Purpose only)Free of Charge
Online Transfer Charge For any amount in between Branches of Dhaka Clearing house area onlyFree of Charge
Online Transfer Charge For any amount in between Branches of Chittagong Clearing house area onlyFree of Charge
Online Transfer up to TK. One lac charge outside Dhaka and Chittagong cityTK.50/-
Online Transfer Above  TK. One lac to 10 lac charge outside Dhaka and Chittagong cityTK.100/-
Online Transfer Above  TK. 10 lac to 25 lac charge outside Dhaka and Chittagong cityTK.200/-
Online Transfer Above  TK. 25 lac charge outside Dhaka and Chittagong cityTK.300/-
Service ChargeFree

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Frequently Asked Questions:

  • How do I approach Premier Genius Account?

Any one can just walk into any of our branch with your supporting papers as stated.

  • How much amount required opening this account?

Any one can open this account by deposit of TK 2000/- only

  • What is the minimum balance required to be maintained for a premier Genius Account?

The minimum balance required to be maintained is TK 500/- only to keep the account active.

  • At what frequency will the interest be paid to me?

Interest earned on your premier Genius account balance shall be credited to your account on half yearly basis.

  • Do I need an introduction from an existing premier bank account holder?

The Bank needs no introduction from an existing premier bank account holder if you are submitting satisfactory proof of identity with address as prescribed.

  • Can this account to be opened jointly? Whom can I joint Applicant?

Nobody can’t open this account jointly, but can nominate someone

  • Can this account opened in the name of any organization or firm?

No this is a personal account for the regular student which can be opened individually

  • What is premier genius card?

Premier Genius card is a regular Premier VISA Debit card issued by the Premier bank Ltd which is only for the Premier Genius Account Holder.

  • What is the difference Between a Premier Student Account and other Savings Account offered by Premier Bank ltd.
  • Premier Savings Account:

Anyone Can Competent Person

Daily interest amount TK10000/-

Interest rate6.5% p.a

Service charge, online transfer fee is free with condition

  • Premier genius Account:

Only a regular student at a minimum the age of 18 years old

Daily interest on any amount

Interest rate is 7.50 pay

No Service Charge, online Transfer Fee is Free with conditions