Deposit Pension Scheme

Deposit pension scheme allows customers to deposit a specific amount every month throughout six year. At the end of the 6 years customer can get either a lump sum amount or a specific monthly pension throughout next five years. At the end of the pension period customer will get a specific lump sum amount. Furthermore, at any time of the pension period, customer may stop enjoying pension and withdraw the full lump sum.

Any individual customers will be allowed to open any number of this scheme in his/her own name or jointly by depositing first installment.

  •  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 the credit policy of the bank.
  •  Any individual 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.
  •   Scheme can be opened through our any branch or agent point. But encashment of this scheme shall be made in the scheme maintaining branch.
  •   Installment can be deposited in any branch or agent point 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 must pay overdue installment along with 5% late fee per month at his/her own responsibility.
  •   If depositor fails to deposit six consecutive installments then scheme will be closed.
  •  Pension will be started after completion of regular installments. Delay to complete the deposit of installment(s) will cause delay of pension starting period.
  •   Any types of government tax, levy, duty or other surcharges which are applicable to the scheme will be borne by the customer.
Account Opening Tutorial