Microcredit
Micro Credit has now been accepted and recognised as an effective tool for poverty alleviation, self employment and rural socio-economic development. In commitment to reduce poverty in urban and semi-urban and rural areas, Sonali Bank Limited has started micro credit function through a full fledged Micro credit division in its Head Office from 2003. As such the Bank has been striving its best to provide speedy and active support to this sector.
Presently, 32 Micro Credit projects/programmes are being run by the Bank. Amongst the programmes, Bank-NGO Linkage wholesale credit programme, Goat rearing,amb rearing, Fruit, Herbal, Medicinal and Nursery development credit scheme, Loan programme for Disabled persons, Swanirvor, different types of Credit through BRDB-UCCA ( Corp,Irrigation & Poverty Alleviation), ADB financed Rural Livelihood project (RLP) in 152 Upazillas, Daridro Bimochone Shahayta Rin Karmachuchi, Rural small business & Small Farming loan scheme , BARD Comilla - SB & RDA Bogra - SB Functional Research project etc. deserve special mention in channelising the financial resources for poverty alleviation and rural socio economic development of the country. Credit for Urban Women Micro Enterprise Development (CUMED) project without colleteral upto Tk. 5.00 lacs operating in 9 selected branches in Dhaka city, now CUMED has been extended in Dhaka city more 17 branches in addition to existing 9 branches, Chittagong two branches, Moulavi Bazar 3 branches and intotal 92 branches including all District branches of all over the country. Micro Entrepreneur development credit programme -`Unmesh' operating in Moulvibazar district, now this credit programme has been extended all over the country. Daridro Bimochone Shahayta Rin Karmachuchi now has been extended all over the country in the year 2010. In the year 2007 a special credit programme named ` SIDR ' has been introduced for SIDR affected areas in which there is a provision of collateral free loan upto Tk. 20,000.00.
More over to make the self dependency specially for the women Micro credit Division has been introduced a now Loan programme in the year 2010 named ~ Jago Naree Grameen Rin" through 250 Rural branches all over the country with a provision of collateral free upto Tk. 25,000.00.
Upto December, 2010 a total amount of Tk.422426 Lacs has been disbursed under various projects/programmes monitored by this Micro Credit Division, whereas it was Tk. 386529 Lacs Upto Dec. 2009. On the other hand total recovery position stands at Tk. 482839 Lacs as on December 2010, whereas it was Tk. 463854 Lacs upto Dec. 2009. The present outstanding position of Micro Credit is Tk. 98263 Lacs.

Features :

SL. Project/Programs Target group Loan size in Tk. Rate of Interest
A. Bank's own Program
1 Bank-NGO Linkage wholesale Credit. Poor people According to project size 13
2 Credit for Urban women Micro Enterprise Development- CUMED Urban women Enterpreneurs Highest - 5,00,000 11
3 Goat Rearing Small & Medium Enterpreneurs According to project size 12
4 Swanirvor Poor Landless people Highest - 40,000 11
5 Unmesh Micro Enterpreneurs Highest - 50,000 11
6 Daridra Bimochane Sahayta Rin Hard core poor Highest - 50,000 10
7 Rural small Business Small Enterpreneurs Highest - 50,000 11
8 Small Farming Loan Small Enterpreneurs Highest - 50,000 11
9 Loans for SIDR affected Area SIDR affected People Highest - 20,000 08
10 Marginal and small Farms System Crop Intensification Pro.- MSFSCIP Marginal,poor & small farmer Hightest - 10,000 09
11 Crop Godown credit project Small & Medium farmer Highest - 10,000 09
12 Herbal, Forestry, Medicinal and Nursery development Credit Poor energetic youth Highest - 25,000 10
13 Loan to Salt Growers Actual Salt producer Highest - 44,000 per acre 4+6=10
14 Loan for disabled people Disabled people Highest - 50,000 08
15 Sonali Bank-BARD, Comilla Priogik Gabesana Rin Prokalpa Bittahin rural male & female Highest 10,000 09
16 Sonali Bank-RDA, Bogra Priogik Gabesana Rin Prokalpa Bittahin rural male & female Highest - 10,000 09
17 Jago Nari Grameen Rin Karmachuchi Bittahin rural female Highest - 25,000 09
B. BRDB-UCCA
1 BRDB Crop Lending Small & Medium farmer Highest 8,000-15,000 10
2 Shrimp Culture Small & Medium farmer Highest 2,333-28,000 10
3 Women Development Program Co-operative poor female member Highest 1,500-20,000 10
4 RLP (Rural Livelihood program) Small & Medium farmer Highest 5,000-20,000 6.25