To gather public's idle money in exchange of high return within the shortest possible time.
Terms and Conditions of the Scheme
Any individual, company, educational institution, government organization, NGO, trust, society etc. may invest their savings under this scheme.
The deposit can be made in multiples of Tk. 5,000.00.
Any customer can open more than one account in a branch in his/her name or in joint names. A Deposit Receipt will be issued at the time of opening the account.
The period of deposit is 10 (ten) years.
Highlights of the Scheme
Some examples are given in the table below. Any amount can be deposited in multiples of Tk. 5,000.00.
Amount payable approximately after maturity
payable amount will depend on projection and will be adjusted after the declaration of profit at the end of the year. The weightage of deposit will be 1.17.
Not less than 65% of investment income shall be distributed among Mudaraba Depositors as per weightage.
In case of premature encashment
In case of premature encashment before 1 year no profit shall be paid.
In case of premature encashment after 1 year but before 3 years profit shall be paid at Savings Rate plus 0.75%.
In case of premature encashment after 3 years but before 5 years profit shall be paid at Savings Rate plus 1.00%.
In case of premature encashment after 5 years but before 8 years profit shall be paid at Savings Rate plus 1.50%.
In case of premature encashment after 8 years but before maturity profit shall be paid at Savings Rate plus 2.00%.
In case of unexpected situation
In case of death of depositor before the term, the deposit amount will be given to the nominee according to the rules of premature encashment. In the absence of nominee, the heirs/ successors will be paid on production of succession certificate.
In case of issuing duplicate receipt the rules of issuing a duplicate receipt of Term Deposit will be applicable.
The nominee may, at his option continue the scheme for the full term.
Quard facility against the scheme
The depositor can enjoy loan up to 80% of the deposit under this scheme.
Additional Terms and Conditions
Bank reserves the right to change the weightage of deposit & the portion of distribution of Investment Income.
At the time of payment of deposit Income Tax on profit shall be deducted.