Priority Deposit Scheme
Terms & Conditions:
Customer shall be allowed to open this scheme in his/her own name or jointly or in name of institution/organization by depositing multiple of Tk.1.00 Lac but not less than Tk. 20.00 Lac.
Tenor of the scheme: 3 months, 6 months, 1 year, and 2 years. Renewal of this scheme is not allowed.
Rate of interest: 3 Months @7.10%, 6 Months @7.25%, 1 Year @7.50%, and 2 Years @7.50%.
Payable amount at maturity will be as under.
Tenor Principal Maturity value Remarks
03 Months 20,00,000.00 20,35,500.00 The table mentioned beside is example of calculation of maturity value of principal amount of Tk.20.00 Lac. Maturity value for other amount(s) in excess of Tk. 20.00 Lac shall be calculated in proportion to the table mentioned beside. For instance, maturity value of Tk. 50.00 Lac after two years will be Tk. 57.50 Lac.
06 Months 20,72,500.00
01 Year 21,50,000.00
02 Years 23,00,000.00
Premature Encashment Rule
Premature encashment of 3 months tenor scheme: No benefit
Premature encashment of 6 months, 1 year and 2 years tenor scheme:
i. Before 3 months: No benefit
ii. On or after 3 months: Benefit @ prevailing lower slab interest rate of savings deposit account for the days completed.
Other Information :
Depositor may avail credit facility against deposited amount or encashment value of the scheme according to credit policy of the bank.
All government tax, levy, duty or surcharge etc. applicable to the scheme will be deducted from encashment value of the scheme.
In case of death of the account holder, the nominee can continue it by submitting written application to the Branch/Bank or encash it according to premature encashment rule mentioned above.