Student Savings Scheme
Monthly Deposit Amount Range : From Tk. 1,000/= to Tk. 10,000/= (Any Amount)
Tenure : From 6 years to 15 years (any number of years)
Maturity Value for Monthly Deposit of Tk.1,000/=:
Terms and Conditions:
- Only Students up to Class-XII are eligible to open this account. The account shall be operated by Parent/ Legal Guardian if the age of the accountholder is below 18 (eighteen) years and the accountholder shall be eligible to operate the account at the age of 18 (eighteen) years. Proof regarding studentship to be provided.
- Depositor may choose any amount and tenure at the time of opening the account which will not be changed in future.
- More than one account may be opened in one name.
- Monthly deposit to be made within the month. Advance deposit is allowed. In case of failure to deposit in any month, deposit may be made in following months with 3% penalty per month.
- Account cannot be closed before 3 (three) months and no interest will be given if closed before one year. For close of account after 1 (one) year but before 6 (six) years, interest shall be paid @6% p.a. In case of pre-mature encashment, the depositor shall get the previous period’s maturity value and no interest shall be given on fractional period.
- If any depositor fails to deposit 3 (three) consecutive months then the account will be automatically closed.
- The account shall be matured for payment after one month of the last installment deposited.
- Loan facility may be allowed up to 90% of the amount deposited and interest accrued. Interest of loan shall be 15% p.a. with quarterly rest and minimum loan amount to be Tk.50,000/=.
- Tax and Excise Duty shall be deducted as per the Govt. rules.