SME
Business
Solutions
For more information, please contact SME Banking: Bahrain World Trade Center, East Tower – 15th Floor Tel: 17 13 3383
Fax: 17 13 1043 E-mail: [email protected]
ABOUT BMI BANK
We’re a young, dynamic Bahraini retail and commercial banking institution.
We offer our customers a comprehensive range of financial services, with a strong
regional focus.
Operating in Bahrain through a network of 8 branches, BMI offers customers access to 25 ATMs and award-winning internet banking. Our range of services include:
u Savings and current accounts u Al Mazyona saving certificates u Sapphire – Premier Banking services
u Credit cards – including Diners Club and La Carte (a co-branded credit card in partnership with
Geant Hypermarket Bahrain)
u Consumer and vehicle loans u Mortgages
u Fixed deposits
In addition to Retail Banking, BMI offers full SME Banking, Premier Banking, Private Banking, Corporate Banking, Islamic Financial Services and Treasury Services.
We’re committed to being a stronger regional bank.
BMI is registered in the Kingdom of Bahrain and regulated by the Central Bank of Bahrain. We also operate an Offshore Bank in Seychelles, a branch in Qatar and have a 21.33% shareholding in the Gulf African Bank in Kenya. BMI owns Diners Club Services Bahrain W.L.L and operates the Diners Club cards franchise in Bahrain, Syria and Yemen.
BMI shareholders include some of the strongest and most respected financial institutions across the GCC, including BankMuscat. Rated Investment Grade, BMI maintains total equity (share capital and reserves) of USD 341 million.
BMI is proud to be a catalyst of domestic economic growth by providing services that are tailored to the specific requirements of growing businesses like yours.
ABOUT SME BANKING
At BMI our specialized SME Banking division has been designed to
help your local business grow and flourish. We utilize a relationship
banking approach to doing business.
You will benefit from having an experienced Relationship Manager assigned to look after your account. They will help you grow by first understanding your business and then providing you with advice on which of the extensive range of products and services available will best help you achieve your objectives. Our goal is to build long term relationships with you. Your Relationship Manager will be on hand through the different cycles of your business, by providing flexible business solutions that can be adapted as your business requirements change.
SME Banking provides complete banking solutions including trade finance products (letter of credit, letter of guarantee, trust receipts, etc), overdraft facilities, loans (term, auto, mortgage, etc), current/call accounts, fixed deposits and much more.
A brief summary of the product mix available with SME Banking:
u Super Current Account: Up to 2.0% interest rate per annum with an initial deposit requirement
of only BD 500.
u Unsecured Business Installment Loan: Up to BD 25,000 unsecured term loan to finance your
working capital needs.
u Partially Secured Loan: Up to BD 100,000 partially cash secured facility to finance your working
capital needs.
u Term and Mortgage Loan: Up to BD 1 million fully secured facility to finance your working
capital needs and motor vehicle or property acquisition.
u Overdraft Facility: Up to BD 1 million fully secured overdraft facility to meet your working
capital needs.
u Global Trade Services: Up to BD 1 million in trade financing facilities that include letters of
guarantee and letters of credit.
u Current Account: This features minimum balance BD 300, free BMI Visa Electron Debit card,
free net banking and access to cheques.
u Fixed Deposits: Great rates on fixed deposits over a time period to suit your requirements.
At SME Banking, we are continuously improving our products and services and we encourage you to visit our website: www.bmi.com.bh/sme to see our latest up to date information.
Super Current Account
A smarter way to manage your money - the Super Current Account is an account that
combines the convenience of a current account with the market beating interest rate of
a savings account. Banking has never been so rewarding.
Features
Interest rate, p.a. Up to 2.0%, tiered Interest payment frequency Monthly
Statement frequency Quarterly, free Teller cash withdrawal Free
SMS Banking Free
Net Banking Free
Initial deposit requirement BD 500
Currency Bahraini Dinars
*Standard charges apply for all other transactions.
Interest Rates
Average Monthly Balance Interest Rate*, % p.a.
< BD 500 Nil
BD 500 - BD 9,999 0.5%
BD 10,000 - BD 99,999 1.5%
BD 100,000+ 2.0%
* For individuals & SME
Receive a higher return on your funds by maintaining an Average Monthly Balance (AMB) of BD 500 only.
u Interest is calculated on AMB and will be credited on monthly basis. u Non Maintenance charge of BD 3 will be levied if AMB is below BD 500 u BMI reserves the right to revise rates / balance tiers at any time
Unsecured Business Installment Loan
A simple way to provide you with capital to meet your financing needs, without the
need to pledge security. Ideal for the purchase of land, equipment, inventory and
construction activity.
Features
Minimum loan amount BD 15,000 Maximum loan amount BD 25,000
Tenure Up to 5 years
All loans are granted at the sole discretion of BMI
APR (Annual Percentage Rate) for loan of BD 25,000 over 60 months is 17.31% p.a.
Partially Secured Loan
Another simple financing solution to help you fulfill your business plans. The partially secured loan is a simple way of raising capital to finance your business.
Features
Minimum loan amount BD 15,000 Maximum loan amount BD 100,000
Tenure Up to 5 years
Acceptable collaterals Cash All loans are granted at the sole discretion of BMI
Term Loans
Perfect if you require financing to purchase equipment or for working capital – request for a term loan to meet your business needs.
Features
Minimum loan amount BD 50,000 Maximum loan amount BD 1 million
Tenure Up to 5 years
Acceptable collateral Real Estate, Cash, Stock All loans are granted at the sole discretion of BMI
APR (Annual Percentage Rate) for loan of BD 1,000,000 for 60 months is 10.17% p.a.
Mortgage Loans
Ease your path to fulfill your future needs for the purchase of a new building or construction of your own facility – request for a mortgage loan to meet your financial needs.
Features
Minimum loan amount BD 50,000 Maximum loan amount BD 1 million
Tenure Up to 10 years
Acceptable collateral Real Estate, Cash, Stock All loans are granted at the sole discretion of BMI
Auto Loan
Purchase the vehicle that you or your business need with the choice of new or used vehicles from auto manufacturers and dealerships - request for our auto loan to meet your needs.
Minimum Loan Amount BD 3,000
Maximum Loan Amount BD 75,000 per industrial vehicle/truck/dumper Tenure
Vehicle Age Maximum Tenure
Brand New 7 years
Used Vehicles 5 years
All loans are granted at the sole discretion of BMI
APR (Annual Percentage Rate) for loan of BD 75,000 for 84 months is 10.31% p.a.
Overdraft facility
Our overdraft facility provides you with the flexibility to meet your cash flow needs without a fixed monthly commitment.
Features
Minimum loan amount BD 50,000 Maximum loan amount BD 1 million
Tenure Renewed annually
Application Processing Requirements for:
•
Unsecured Business Installment Loan•
Partially Secured LoanPlease provide the following to ensure prompt processing of your application:
•
Completed application form•
Bank certified copy of CR•
Bank certified copy of CPR and passport•
6 month bank statements•
Outstanding liability statement•
Bank certified copy of latest utility bill•
Any additional support information to supplement your application including audited financials, contract in hand, etcApplication Processing Requirements for:
•
Term Loans•
Mortgage Loans•
Auto Loans•
Overdraft facilityPlease provide the following to ensure prompt processing of your application:
•
Completed application form•
Bank certified copy of CR•
Bank certified copy of CPR and passport•
12 month bank statements•
Outstanding liability statement•
Bank certified copy of the title deed, if applicable•
Any additional support information to supplement your application including audited financials, contract in hand, etc