<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <html><head> <title>New Page</title> <meta http-equiv="Content-Type" content="text/html; charset=UTF-16LE"> <meta content="MSHTML 6.00.6000.16525" name="GENERATOR"></head><body> <table class="style2" width="600" align="left" bgcolor="#ffffff" border="0" bordercolor="#ece9d8" cellpadding="0" cellspacing="0" height="524"> <tbody> <tr valign="top" align="left"> <td valign="top" width="599" align="center" height="435"> <blockquote> <p align="left">&nbsp;</p> <table style="width: 774px; height: 635px;" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td valign="top"><img style="width: 315px; height: 448px;" src="Productspic1.jpg"></td> <td valign="top"> <p style="margin-left: 40px;"><span class="style5"><font face="Arial"><em style="font-weight: bold;">Safe</em><span style="font-weight: bold;">Save </span>offers a savings account to anyone living within walking area of a branch office.&nbsp; Clients come as individuals: there are no groups nor guarantors for loans, and no meetings to attend. Clients may be men, women or children, though children under 16 may not borrow. Product rules are issued in writing to all clients, to ensure that service is fair and consistent, and a complaints phone line is open at all times during working hours. <br> </font></span></p> <p style="margin-left: 40px;"><span class="style5"><font face="Arial"><span style="font-weight: bold; font-style: italic;">Passbook Savings</span>: Clients may deposit as little as one taka ($0.015) when the collector calls at their house each day. Accounts with balances above 1,000 taka ($15) earn 6% interest. Clients may withdraw up to 500 taka per day&nbsp;($7.50) at their doorstep, or up to 5,000 taka&nbsp; per day ($75) at the branch office within a guaranteed maximum of 10 minutes (larger amounts within 24 hours).<i><b><br> </b></i></font></span></p> <p style="margin-left: 40px;"><span class="style5"><font face="Arial"><i><b>Long Term Savings</b></i>: All clients may also open a longer-term 'commitment savings' account. It is not linked to loans, and savers deposit regularly for a defined term and receive higher rates of interest.<br> </font></span></p> <p style="margin-left: 40px;"><font face="Arial"><span class="style5"><span style="font-weight: bold; font-style: italic;">Loans</span> are not mandatory, and there is no minimum amount. All borrowers start with a credit limit of 5,000 taka ($75). One loan may be taken per household at a time. Loan interest is 3% per month on the declining balance (36% per year in nominal terms, or about 30% in real (inflation adjusted) terms).&nbsp; A minimum passbook savings balance equal to 1/3 of the loan balance is required as collateral at all&nbsp;times.&nbsp; No other collateral is required, nor does <span style="font-style: italic;">Safe</span>Save&nbsp;require personal guarantors.&nbsp;&nbsp;Loans are taken and repaid flexibly, with no minimum nor maximum duration.&nbsp; Each month the minimum payment is the interest due, but principal repayment is left entirely flexible, to give clients the maximum flexibility in their use of loans.&nbsp;&nbsp; However, </span><span class="style5">steady repayment progress</span><span class="style5"> is required to earn increases to the credit limit, and this provides an indirect incentive (along with avoiding future interest) to repay as quickly as possible.&nbsp;&nbsp;Roughly 2/3&nbsp;of all clients hold a loan, with outstanding balances averaging 4700 taka ($69). </span></font></p> <p class="style5"><span style="font-style: italic;"></span></p> <br> </td> </tr> </tbody> </table> <p align="left"> </p> </blockquote> </td> </tr> </tbody> </table> </body></html>