INTERNSHIP REPORT

AT

SUBMITTED BY:
MISS SAHAR SHARIF
BBA (Hon’s)
JINNAH UNIVERSITY FOR WOMEN

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 INTRODUCTION OF SONERI BANK
Opened doors for operations in Lahore on April 16,1992 followed by Karachi
branch on May 09, 1992. The bank now operates with 117 Branches spread all
over Pakistan including the Northern Areas of the country where no other private
bank has ventured so far

DEPARTMENTS

• Account opening.
• Clearing department.
• Advance department.
• Cash department.
• Foreign currency department.
• Remittance.
• ATM.
ACCOUNT OPENING

If any person wants to open an account with the bank the account opening officer
first of all get the photo copy of CNIC of the customer and get it verified through
NADRA. After get verification from NADRA the officers give application from the
customer. Customer fills the form and gives back to officer with the required
document. After analyzing the document the officer make entries into the account
opening register and issue account number to the customer. Now the customer
can operate his account after depositing certain amount.
• Current account
• Profit and loss saving account
• Basic banking account
• Soneri saving account

CURRENT ACCOUNT

Current is a non profit account. Flexible account with a great convenience for
individual (in singles or joint names), minor ( to be operated by the guardian).
Current account can be opened with a minimum amount of Rs.10000/-( ten
thousand rupees) Rs.50 will be deduct per month from account if balance
decrease from Rs.10000/-

PROFIT AND LOSS SAVING ACCOUNT

PLS saving account is a simple, straight forward saving account with a great
convenience for individual ( in single or joint names) minors ( to be operated by
the guardian). The account can be opened with the minimum amount of Rs

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5000/- ( five thousand rupees). Rs.50 will be deduct per month if balance
decrease from Rs.5000/-

BASIC BANKING ACCOUNT

Basic banking accounts may be opened by individuals including minors under

guardianship. the account opened with the minimum amount of 1000/- ( one
thousand rupees). Rs.50 will be deduct per month if balance decrease from
Rs.1000/- 4 withdrawals from a BBA through cheques is one calendar month are
free of service charges basic banking account in non profit bearing account.

SONERI SAVING ACCOUNT

Soneri Savings Account is a flexible and fast growing cumulative profit account
with a great convenience for individuals (in single or joint names), minors (to be
operated by the guardian), the account can be opened with the minimum amount
of Rs.5000/- ( five thousand rupees), Rs.50 will be deduct per month if balance
decrease from Rs.5000/-.

CLEARING

The basic function of the clearing department is to facilitate the customer; it

provides them the services in collection of their cheque in other banks
In stamping procedure, the pay-in-slip counter foil the following three stamps are
used transfer, transfer delivery and clearing .If the cheques is for the same bank,
and drawer and the payee both have the account in the same bank, the simple
bank stamp is used, and this stamp indicates the transfer of cheques from one
account to another account. This cheque is directly moves towards posting in
computer terminal where the computer operator debit one account and credit the
account of another party. This stamp is known as the Transfer stamp. if the
cheque is for same bank but deferent branches, transfer delivery (TD) stamp is
used and the cheques is different banks then used clearing stamp. Inward
clearing cheque in our bank because of the clearing in my bank. Outward cheque
in other bank because of the clearing in other banks. OBC (outward bill
collection) there are two type of OBC direct OBC and indirect OBC. OBCs are
those bills which came from different cities for collection through mail. The
clearing officer collect the OBCs from dispatch at morning and enter them into
the OBC register after entering vouchers and after this he enter those OBCs into
the computer and logged them from clearing in NIFT.NIFT is working as clearing
houses on behalf of state bank of Pakistan. At the end of the day the OBCs come
back from NIFT. The OBCs which are realized the officer in register write realized
in front of it after entering he make three journal credit voucher income
commission, FED and courier charges . which are return he write return in front
of it and the bill which are return due to any reason are sent back to the branch
where it came from.

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 ADVANCE DEPARTMENT

• CONSUMER FINANCE

Consumer finance means any financing allowed to individual for meeting their
personal, family or house hold needs.
It is offered to salaried, self employed person and business person.

Following products categorized as consumer financing.

• GHAR FINANCE
• CAR FINANCE
• PERSONAL FINANCE
• GENERATOR FINANCE

• GHAR FINANCE

Purchase / construction of property for self-occupancy .Extension / renovation on

self-occupied residential property.
The finance is provided for following purposes provided it is used for self
occupancy.
• Purchase up to Rs.10M and up to 20 year
1. Construction up to Rs.10M and up to 20 year
2. Renovation up to Rs.03M and up to 07 year
3. Balance transfer facility up to 10M and up to 20 year

4. PURCHASE of pre-constructed residential property.

5. CONSTRUCTION of residential property on self-owned plot of land.
6. RENOVATION on self-self owned and occupied property.
7. BTF for any of the above finance.
8.
MARK UP RATES
1 year KIBOR + 2% p.a. to be revised on each anniversary of finance.

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 • CAR FINANCE

Purchase of brand new: un registered cars for private use and un registered light
commercial vehicles for private use .Maximum repayment period is 5 years.
Financing amount is for cars up to 2000 CC: Rs1.0M and for cars exceeding
2000 CC: Rs.2.0M.
Down payment up to Rs1.0M minimum 15% of the vehicle price. And on finance
over Rs1.0M :minimum 20%of the vehicle price.

MARK UP RATE
1 year KIBOR + 3% p.a. to be revised on each anniversary of finance.

• PERSONAL FINANCE

It is personal loan facility introduced by SBL in 2003.and the facility is allowed

against assignment of salary. characterized by flexibility and easy accessibility.
Amount of loans is calculated on the basis of take home salary and DBR 40%.
Maximum amount of loan is Rs.500,000.

Purpose of finance

• To meet medical expenses for self of applicant.

• To meet educational expenses of applicant’s children.
• To meet travel expenses for self family member.
• To meet domestic needs.

MARK UP RATE
1 year KIBOR + 6% p.a. to be revised on each anniversary of finance.

• GENERATOR FINANCE

For purchase of brand new Electric Power Generator to be installed at residential

/ commercial / industrial property owned by the borrower. Maximum repayment
period is 3 years .Financing amount Minimum Amount of Finance :Rs.0.1 Million
Maximum Amount of Finance: up to Rs.1.0 Million Down Payment A minimum
of 20% of price of the Generator (as per Quotation / Invoice) being financed shall
be paid by the borrower.

Mark-up Rate **

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 1 Year KIBOR + 3% p.a., to be revised on each anniversary of finance.

• Business finance

Business finance enhance to the business and existing business to require the
capital. It is offered to the individual, SME and corporate loan. repayment period
of 1years or demand.

Mark-up Rate **
KIBOR +2.5% p.a. it depend on security.

SME ( Small medium and enterprises)

Means an entity, ideally not a public limited company, which does not employ
more than 250 persons (if it is a manufacturing concern) and 50 persons (if it is a
service concern) following criteria of either a and c or b and c as relevant.
a) A service concern with total assets at cost excluding land and building up
to Rs.50 million.
b) A manufacturing concern with total assets at cost excluding land and
building up to Rs.100million.
c) Any concern with net sales not exceeding Rs.300million as per the latest
financial statement.

LOCKERS

Specially designed lockers of various sizes to meet the requirements of

applicants are available at our designated branches. The lockers may be
operated during the banking hours of the branch. Only Account holders of our
branches are eligible to apply for renting the Safe Deposit Lockers.

FOREIGN CURRENCY DEPARTMENT

We deal in ERU,DOLLAR and POND. There is outward and inward remittance in

foreign department. Inward remittance is coming from foreign country Outward
remittance, we send money foreign country. We launch to the main branch and
foreign currency is dealing with two days i.e. Monday and Thursday. USD open in
current and saving account ERU and POND open only current account.
International transaction we, maintain account and there are three account
Nostro, loro and wostro. our account is attach with the foreign account is known
as nostro. Foreign account attach with our account is known as wostro our
account and foreign account is open to the other bank is known as loro. inward
and outward remittance report we, make in monthly basis.

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 DEPOSITS

Deposits represent saving of the people and organizations which are

deposited with bank. Basic function of all commercial banks in mobilization of
deposits and use these funds in lending to business and industry as well as
investing in shares and securities.

TYPE OF DEPOSITS
There are two types of deposits

1) Demand deposits
• current deposits
• saving deposits
• sundry deposits
• call deposits
.
2) Time deposits
• term deposits
• special notice time deposits
• soneri saving certificate
• soneri diamond deposit certificate
• soneri premium deposit certificate

SONERI SAVING CERTIFICATE

Soneri bank 3 years soneri saving certificates provide investment

opportunities to small and medium income group investor.
• Annualized rate of expected return 11.50%p.a.
• Profit paid on completion of 6 months from date of investment.
• The certificates are issued in multiples of Rs 10,000/=
• Acceptable as security against finance

SONERI DIAMOND DEPOSIT CERTIFICATE

• Annualized rate of expected return 14% p.a.
• Profit payable at monthly intervals.
• Minimum investment Rs.10,000.

SONERI PREMIUM DEPOSIT CERTIFICATE

• Annualized rate of expected return 13% p.a.

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 • Profit payable after 12 months on maturity
• Minimum investment Rs.25,000.
• Acceptable as security against finance.

CASH DEPARTMENT

The cash department collected to the utility bills, cash payment and cash receipt,
cash on hand. We sale and purchase of national prize bonds and we deal in
ERU, DOLLAR, POND and PKR. Previous ending balance is opening balance to
the next day.

REMITTANCE
.
In the SBL, the remittance department is headed by one person who is
responsible for looking after the accounts of the branch and forming pay order,
demand draft. Remittance is transfer of funds from one city to another city or
within the city.
1. Pay Order:
A pay order is an instrument in writing issued by bank for a certain sum of
money payable on demand to the order of the payee mention within the city,
where as pay slip is used for bank’s internal use.
2. Demand Draft:
A demand draft is an instrument in writing drawn by one branch of a bank on
another branch of the same bank for a certain sum of money; payable on
demand to the order of the payee mention therein the draft.

ATM

• ATMs across Pakistan owned by soneri bank and other banks.

• Shopping/ purchasing/ payments through outlets displaying ORIX sing.
• Free 24/7 online funds transfer to any customer of soneri bank through
ATMs owned by soneri bank.
• Free cash withdrawal on ATMs owned by soneri bank.
• Soneri bank ATM card holders can pay their bills using ATM services.
• Easy way of paying bills for you and your dear ones.
• Bills once paid are automatically registered in our system.
• ATM service is currently available for payment of KESC, LESCO, GEPCO,
SNGPL, SSGC, warid and ufone.

CONCLUSION

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It provide a gateway to youngster and an insight of corporate world. It helps them
in the orientation phase of their first job as well.