Monthly benefit scheme is designed to provide benefit on monthly basis against a one-time deposit. Customer is allowed to open this scheme in his or her own name or jointly or in name of in name of institution or organization by depositing any amount of Tk 50,000 or its multiple. Tenor of the scheme is 1 year and 2 years. Benefit will be given upon completion of each month until completion of tenor. Principal will be given back to the customer upon maturity or encashment of the scheme.
Any Bangladeshi National (Adult, sound-minded having bonafide income) and institutions / organizations incorporated and operating in Bangladesh who are not adjudicated as insolvent by any Court of Law of the land can open this scheme in his/her own name or in joint name or in name of organization by depositing any amount of Tk. 50,000 or its multiple.
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)
In case of non-personal entity, related documents need to be submitted
Customer will get the principal amount along with last month benefit as per above table.
Encashment before maturity:
Before 6 months: Principal will be given back. Benefit already paid shall be adjusted with the principal amount.
On or after 6 months but before maturity: Principal plus benefit for completed month(s) only at the lowest prevailing rate of 6 months FDR and monthly benefit already paid shall be adjusted with the principal.
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. Benefit already given (if any) after the date of the death of scheme holder will be adjusted with the ledger balance.