Monthly Profit Based Fixed Deposit (MFD) Bangladesh : Pubali Bank Limited
Name of the Organization : Pubali Bank Limited
Type of Facility : Monthly Profit Based Fixed Deposit (MFD)
Country : Bangladesh
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Website : http://www.pubalibangla.com/Monthly-Profit.asp
Monthly Profit Based Fixed Deposit :
Customer Eligibility:
Adult Individual
Related : Pubali Bank Bangladesh Target Based Small Deposit : www.statusin.org/6709.html
Account Opening Procedure:
** Prescribed application form
** Photograph of Account holder is required
** Photograph of the nominee(s) is/are required
** Specimen Signature required
Introducer:
May not be required
Joint Account Concept:
Joint Account allowed
Term (Period):
5 (five) years
Interest Rate:
At present 11.00%. Interest rate may change time to time.
Source Tax & Excise duty to be deducted from the interest amount as per rule.
Principal withdrawal:
On maturity
Interest withdrawal:
Monthly basis to be transferred to SB A/C of the depositor.
Premature Encashment:
Before 3 months: No interest and no penalty.
After 3 months: Interest to be paid for 3 months on applicable rate but no interest for remaining days.
After 6 months: Interest to be paid for 6 months on applicable rate but no interest for remaining days.
After 12 months: Interest to be paid for 12 months on applicable rate but no interest for remaining days.
After 24 months: Interest to be paid for 24 months on applicable rate but no interest for remaining period.
Excess interest, if paid earlier, to be recovered.
For any query please Contact at:
Tel: (PABX) 9551614
Fax: 880-2-9564009 or
Email us at gsdd [AT] pubalibankbd.com
Monthly Profit Based Small Deposit (MPSD) :
Product Features :
Object :
The object of the scheme is to enable the small depositor to make the financial provision for his future need or to meet the monthly basic/specific need by paying deposits in monthly installments for an agreed period.
The product will be known as “Monthly Profit based Small Deposit (MPSD)”. However, we may also give attractive name like “Pubali Shadhin Shanchay”
Who can open?
The accounts may be opened for persons, after they are properly introduced by the Bank. The accounts may be opened by (a) a person in his or her own name (b) two or more persons, in their join names, who will be beneficiaries jointly, anyone or more among them or survivors or survivor of them.
Customers must be registered and KYC compliant. Photographs and necessary papers such as National ID etc. will be required to prove identity. Nomination is required but it can be changed.
Payment of Deposits :
Interest may be paid monthly if interest exceeds the threshold for that period as defined by the customers. Threshold of the interest to be paid monthly is of Tk. 100 or in multiples thereof.
If a customer wants interest to be paid monthly with a threshold value of Tk.500, unless until her/his deposits generates interest Tk. 500 or more per month, interest will be added to deposits.
Customers may also take single payment for entire deposits. Payment will be made by way of account payee cross cheque/draft or cash or by way credit to saving or current account.