Terms and conditions for maintaining Deposit Pension Scheme
Customer can open this scheme in his own name or jointly by depositing the first installment.
Under this scheme customers will deposit amount of Tk. 1000.00, 2000.00, 3000.00, 4000.00, 5000.00 or 10000.00 in every month for the period of 6 years, and will have the following two options at maturity as per following table :
Installment Amount Option: 1 Option: 2
At a Time Benefit after 6 Years Pension Amount after depositing installments for 6 Years At a time payment after receiving pension for 5 Years
1,000 95,200 700 95,200
2,000 1,90,400 1,400 1,90,400
3,000 2,85,600 2,100 2,85,600
4,000 3,80,800 2,800 3,80,800
5,000 4,76,000 3,500 4,76,000
10,000 9,52,000 7,000 9,52,000
Installment can be deposited from any branch of the bank.
Scheme can be opened at any working day of the month and from the next month installment must be deposited within 28th day of every month. If 28th day is holiday then installment must be deposited at previous working day.
In case of failure to deposit installment in due time, depositor must pay overdue installment along with 5% late fee per month at his/her own responsibility.
Installment can be deposited from Current Account/Savings Account/SND Account through standing order without any charge.
If depositor fails to deposit four consecutive installments then account will be closed.
If depositor wants to withdraw money before maturity or fails to deposit four consecutive installments then benefit will be given as following;
i. No benefit will be given before one year,
ii. After one year but before maturity, benefit will be given at prevailing bank rate + 2.50%.
Any number of installment amounts can be deposited in advance.
Depositor may avail credit facility against deposited amount or encashment value of the scheme according to the credit policy of the bank.
Any types of government tax, levy, duty or other surcharges which are applicable to the scheme will be borne by the customer.
In case of death of the scheme holder before maturity of the scheme, the nominee can continue it by giving written application or preclose it according to preclosure rules as mentioned above.