3-day HSBC loan fair begins
Star Business Report
A three-day loan fair organised by the Hongkong and Shanghai Banking Corporation (HSBC) began at Dhaka Sheraton Hotel yesterday to familiarise people with different loan schemes of the bank. Commerce Minister Altaf Hossain Choudhury inaugurated the show titled ‘My Loan Fair 2004’. Conference and Exhibition Management Services (Cems) is assisting HSBC to host the show. Advisor to Commerce Ministry Barkat Ulla Bulu, HSBC Chief Executive Officer David JH Griffiths, Manager (Personal Finance Service) Mamoon M Shah and Cems Managing Director Meherun N Islam were present at the inaugural ceremony. HSBC officials said the fair would provide visitors with unique opportunities to have different products and services under HSBC's loan schemes. Sixty-two companies including real estate and construction material firms, electronics, computer, furniture and automobile companies, travel agencies, and service providers are showcasing their products and services at the show. The bank has set up a service desk at the fair to assist customers in processing and getting loans at one percent less interest rate against the usual rates charged on different products. HSBC will charge 13 percent interest rate for home loan, 15.5 percent for education loan and 13 percent for car loan. The bank is also offering professional loan, lifestyle loan, furniture loan and wedding loan under its Personal Installment Loan Scheme. HSBC is sanctioning loans within 24 hours for HSBC clients and within 72 hours for non-HSBC customers on confirmation of valid documents. Nine educational institutions are also participating in the fair aiming to attract students for educational loans. Sohel Ahmed, a student who came to the fair to know about the education loan, said he found the loan conditions hard for him. Towfiqul Alam, officer (marketing and public relations), said around 3,000 visitors came to the fair yesterday. Visitors submitted 300 loan applications on the first day of which the bank found 210 eligible for loans, he added. Organisers said they will arrange a raffle draw on all the entry registrations and visitors can win various prizes including Dhaka-Kuala Lumpur-Dhaka air ticket. The fair is open to all until tomorrow from 10am to 8pm.
| 
