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- The scheme is designed for the
benefit of the persons who intend to meet the monthly budget
of their families from the income out of their deposit.
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| The
salient features of the Scheme are given below: |
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| 01.
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Deposit of Tk.
25,000.00 (Taka twenty five thousand) and multiples thereof, but maximum Tk.
25,00,000/- (Taka twenty-five lac) shall be acceptable under the Scheme. |
| 02.
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The Deposit shall be
for a period of 5 (Five) years. The Principal amount is refundable on maturity.
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| 03.
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Profit shall be paid
on monthly basis @ Tk. 1,000.00 per Tk. 1,00,000.00. |
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04.
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Payment of monthly
profit shall start from the subsequent month after a clear minimum gap of 30 days from
date of deposit. |
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05. |
In case of death of
a depositor, the account shall cease to be operative and the amount
deposited so far shall be paid to the nominee, and in the absence of nominee, to
the legal heirs of deceased as per rules in force. |
| 06.
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Normally, the deposit
will not be encashable before 5 (Five) years. But if any depositor intends to withdraw his
deposit before maturity due to certain unavoidable reasons, he would be allowed to do so in the following
manner: |
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a.
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No benefit including interest
shall be allowed for pre-mature encashment within one year. |
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b.
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If the accounts / deposits are
closed/ encashed after one year of its opening, benefit shall be allowed on the
deposit at existing normal Savings Deposit rate. |
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c. |
If the amount of monthly profit already paid exceeds the amount
payable at normal Savings rate, the difference shall be realized
from the principal deposit amount, if and when necessary. |
| 07.
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Separate Application
Form specially designed for the purpose shall be obtained duly filled in and signed by the
depositor. In addition to this, the depositor must have a separate Savings Bank Account
with the branch wherein the benefit on the amount so deposited shall be credited every
month. |
| 08.
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A specially designed
Receipt shall be issued for the deposit under the Scheme in the same manner as issued in
case of FDR. |
| 09.
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The Receipt will not
be transferable. |
| 10.
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Advance against lien
on such Receipt can be allowed up to 80% of the deposit bearing normal rate of
interest prevalent at the time on Overdraft/ Loan. |
| 11.
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During the period of
such Overdraft/ Loan, the monthly benefit shall be credited to the concerned Overdraft/Loan. |
| 12.
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Payment will be made after deduction
of taxes as fixed by the Govt. from time to time.
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13. |
In case the instrument is lost, the
procedure for issuance of a duplicate will be the same as
applicable in case of loss of FDR. |
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N.B. Senior
Citizens will get 0.50% higher rate of interest as permissible
for all other deposits of our Bank. Monthly benefit shall be Tk.
1042/- per Tk. 1,00,000/- per month for Senior Citizens. |
