Consumer Credit Scheme: A Major Weapon in Banking Sector of Bangladesh to Attract the Limited Income People

Abstract

Consumer credit scheme is one of the most important ranges of credit in banking. It is such an approach that enables the enhancement of the buying capacity of small as well as big scale consumers. Not only that, it also provided the bank an opportunity to make substantial amount of profit. It means that this scheme serves twofold interest; it benefits consumers as well as banks. Today Consumer Credit Scheme has become an integral part in the field of banking in Bangladesh. Consumers as a group are not only a source of deposit but also a vivacious and dynamic source of lending for banks. Rapid economic growth along with evolving of service sector espouses a substantial number of middle class families which have regular income with diversified need. They are aggressively active in financial market for securing loans in convenient term to purchase consumer goods in order to maintain as well as to improve their standard of living.

Key words: Consumer credit scheme, weapon of banking, customer’s attitude.