All the assets and liabilities of Bangladesh Krishi Bank, Rajshahi Division was handed over to Rajshahi Krishi Unnayan Bank by the Presidential Ordinance No. 58, 1986. Thus the bank RAKUB came into reality. It’s a government owned bank and started functioning with a vision to utilize properly the agricultural potential of Rajshahi Division (Presently Rajshahi & Rangpur Division).

As a development partner RAKUB is supposed to perform activities for improving Agriculture, Agri- business, and Agro-based industries. Poverty alleviation is another responsibility of the bank. From the very inception the bank is working hard to achieve the goals.

Deposit Accounts

RAKUB provide all deposit account facilities like Savings Account and Current Account. In addition to these the bank offers Fixed Deposit Receipt (FDR) Account and Short Notice Deposit (SND) Account. Savings Bank Account for rural area presents a better interest rate for the clients.

Krishok Sanchoy Scheme is a deposit scheme for farmers. A monthly installment is to be deposited for

duration of 7 years. After completion of the term the farmer gets the principal along with interest which is a good amount for him. Minimum installment is Tk. 50 only.

RAKUB Sanchoy Scheme is almost similar to the above except the monthly installment. Here it ranges from Tk. 300 to Tk.5000.

RAKUB Double Money Scheme is a fixed deposit program with a minimum deposit ceiling of Tk. 50,000. The interest rate gradually increases for longer stay of the money. After six and a half years you’ll get your money doubled.

Credit Programs

The credit programs of RAKUB are Small and Medium Enterprise, Revolving Crop Credit, Credit Program for Primary School Teachers, RAKUB Fishing Polly Credit.

SME Program provides loan in the following businesses:

• Software development
• Agro processing/Agro business/Plantation Agriculture/Tissue culture
• Leather goods
• Health service and Diagnostic Center
• Education service

All these loans are of two types, Short term (One year) and Medium term (Four years). In addition to this a special scheme for female entrepreneurs is there.

Those farmer families involved in cultivation round the year with different crops are eligible to get Revolving Crop Credit Loan. The credit limit of a farmer is fixed by the rules and directives of Bangladesh Bank. Payback time is 3 years for this loan.

A Government Primary School Teacher may have a loan from RAKUB Credit program. The teacher fulfilling some pre conditions may apply for the loan. The maximum credit limit is Tk.60, 000 and maximum payback time is 2 years.

RAKUB Fish Polly Credit program provides loan to fish cultivators. For a loan of up to Tk.50, 000 doesn’t require any security. Maximum allowable loan is Tk.5, 00000.

In addition to the above RAKUB finances 101 Agro-based projects and Agri-business projects. The major concern are, Seed and Crop production, processing and preservation; Rubber and Tea plantation, Horticulture, Poultry and Dairy farming, Fish farming etc.

In fact RAKUB tries to touch all fields of Agriculture and Agro-based businesses.

Poverty Alleviation Credit Programs

Under this Program RAKUB presents Zero Poverty Loan Scheme, Marginal & Small Farm System Crop Intensification Project (MSFSCIP), RAKUB Self-help Credit Program (RSCP), Black Bengal Goat Rearing Program, UN Capital Development Fund (UNCDF), RAKUB- NGO Linkage Program (RNLP), Women Entrepreneurship Development Program (WEDP), and Shasya Gudam Rin Prokalpo.

These programs are designed to blanket worst poverty stricken people of North Western Bangladesh. This is done through employment generation, facilitation of self employment and lean period loan for day laborers at easiest possible terms. Women Entrepreneurs are also given proper attention for bringing them up.

Foreign Aided Credit Program

Norwegian Government aid and RAKUB’s initiative have jointly developed a fund naming RAKUB - Small Enterprise Credit Program. This program aims at Agro-based small enterprises and non-farm activities. Maximum loan limit for a single enterprise is Tk. 5 lacs. Credit up to Tk. 75000 is collateral –free.

RAKUB runs all these activities through its 365 branches all over the two divisions of north western Bangladesh. In the mean time improvement of worst sufferer groups of people are quite visible.