Money Maker Scheme (MMS)

To encourage small savings Money Maker Scheme is introduced to accept small amount of money on monthly basis from customer to inculcate the savings tendency among the small savers. It is a simple, safe and convenient way to make money grow.

Year / Installment 200 500 1,000 2,000 2,500 5,000 10,000 20,000 25,000
3 Years 8,000 20,000 40,000 80,000 100,000 200,000 400,000 800,000 1,000,000
5 Years 15,460 38,650 77,300 154,600 193,250 386,500 773,000 1,546,000 1,932,500
7 Years 24,020 60,050 120,100 240,200 300,250 600,500 1,201,000 2,402,000 3,002,500
10 Years 40,400 101,000 202,000 404,000 505,000 1,010,000 2,020,000 4,040,000 5,050,000
  •  Two copies of recent passport size Photographs of account holder duly attested by the Introducer.
  •   One copy of Passport Size Photograph of Nominee duly attested by the Account Holder.
  •  Duly attested photocopy of valid Passport/Employer’s Certificate/ID Card/Driving Licence/Voter ID Card/National ID Card or Certificate about credentials by the local Ward Commissioner/Chairman of Union Parishad
  •  Proof of address such as copy of utility bill viz. Electricity Bill/Land Phone bill/Cell Phone Bill/Gas Bill/WASA Bill, etc. in the name of applicants.
  •  Tax Certificate (if any)
  •   Depositor may avail credit facility against deposited amount or encashment value of the scheme according to credit policy of the bank.
  •  Customers will be allowed to open any number of this scheme in his/her own name or jointly by depositing first installment at any working day. 2nd and subsequent installments must be deposited within 28th of every month. If 28th day of the month is holiday, installment must be deposited at previous working day.
  •   Customers of ten years scheme will get a bonus equivalent to one month installment for depositing 120 installments in time
  •   Installment can be deposited in any branch of the bank by cash or transfer from customer’s account upon instruction. Any number of installments can be deposited in advance.
  •   In case of failure to deposit installment in due time, depositor will have to pay 5% late fee with overdue installment for each month.
  •  If depositor fails to deposit six consecutive installments then scheme will be closed.
  •  All government tax, levy, duty or surcharge etc. applicable to the scheme will be deducted from encashment value of the scheme.
  •   Encashment at maturity:
  •      Customer will get maturity amount as per the above table.
  •   Encashment before maturity:
  •      Before 6 months: Principal will be given back. Interest/benefit will not be allowed.
  •      On or after 6 months but before 3 years: Principal plus benefit for completed month(s) only at the lowest prevailing rate of savings account.
  •      Between two tenors: Contract value for the completed tenor as per schedule. For remaining period, benefit will be given for completed month(s) only at the lowest prevailing rate of savings account, for both completed tenor value and subsequent deposited installment(s).
  •   Encashment after maturity:
  •      Less than 1 month: Contract value of the scheme will be given. Interest/benefit will not be allowed for the days after maturity.
  •      1 month to 6 months (inclusive): Contract value of the scheme plus interest/benefit will be given at the lowest prevailing interest rate of savings account for the completed months after the maturity
  •      More than 6 months: Contract value of the scheme plus interest/benefit will be given at the lowest prevailing interest rate of 6 months FDR for the completed months after the maturity.
  •   Encashment at the death of the scheme holder
  •      For the period up to the date of death of scheme holder: Ledger balance (calculated based on scheme rate) will be given to the nominee(s) or legal successor(s) after deduction of government dues.
  •      For the remaining period: Benefit will be given for the completed month(s) on ledger balance at the date of the death of scheme holder at the lowest prevailing interest rate of savings account to the nominee(s) or legal successor(s) after deduction of government dues.