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Mudaraba Happiness Monthly Savings Scheme (Inspiring Well-being…)
Objectives of the Scheme
A monthly savings scheme. Secure your future with ease. A small savings of today will provide you comfort tomorrow.
Key Features
More savings, more profit.
Account can be opened by depositing an amount of Tk.1,000/- or its multiple (maximum Tk.1,00,000/-).
Account can be opened in any banking day of the month.
After opening the account, the subsequent installments will be due on the 1st day of every month, but the depositor may deposit the installment amount and additional amount in any banking day of the month.
Additional amount (maximum Tk.1,00,000/-) excluding the installment (Initial deposit) can be deposited on any banking day of the month through depositing one or more times.
Installment or Excess money can be deposited through cash/transfer and BEFTN.
Account Operational Procedure
The account will be operated as per Mudaraba Principles.
Any adult person (individually or jointly) having sound mind can open a Mudaraba Happiness Monthly Savings Scheme (MHMSS) with any branch/sub branch of the bank by submitting the required documents and by signing the account opening form.
Account can be opened in the name of a minor under operation of a guardian.
One or more account can be opened in the same name at the same branch/sub-branch or at different branches/ sub-branches of our bank.
The tenure of Mudaraba Happiness Monthly Savings Scheme will be 01, 03, 05, 08 and 10 years and weightage will be 1.20, 1.30, 1.32, 1.35, 1.37 respectively.
Encashment after maturity
After completing any tenure i.e. 1/3/5/8/10 years the depositor can apply directly or through email for encashment.
The proceeds of encashment may be paid through cash, transfer, payment order and BEFTN according to the desire of the client.
Encashment before maturity
If the depositor fails to deposit for consequitive 06 (six) installments, the profit calculation will be stopped automatically and profit against deposited amount will be allowed as per prevailing provisional savings rate.
Normally, deposited amount of Mudaraba Happiness Monthly Savings Scheme is not encashable before maturity. If any depositor intends to encash his/her account before maturity due to certain unavoidable circumstances, the following terms & conditions will come into force:
a) No profit shall be allowed for premature encashment within 06 (six) months.
b) Profit shall be allowed at the prevailing provisional rate of Mudaraba Savings Deposit Account if it is encashed after 06 (six) months but before 01 (one) year.
c) If the account is encashed after completion of any tenure (as prescribed by the bank) but before maturity, depositor(s) will be entitled to receive full benefit for the completed tenure at the provisional rate of profit prescribed there-against. For remaining period, depositor(s) will receive benefit at the prevailing provisional rate of profit prescribed for Mudaraba Savings Deposit.
Availment of Investment facility
The depositor can avail investment facility upto 90% of deposited amount after completion of 01 (one) year subject to application of normal terms & conditions of investment of the bank.
If the depositor expires after availing an investment facility, the balance of the account will be paid to the nominee/heir(s) after making full adjustment of the Investment facility with accrued profit and other charges, if any.
Achievement from the scheme
Other Condition
Operation of this account will be guided by the Money Laundering Prevention Act-2012 and other terms & conditions as prescribed by the Bank from time to time.
VAT/Tax/Excise Duty or other charges (if applicable) to be deducted from the account as per prevailing rules of competent authority (ies).

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