Monthly Income Scheme (MIS) where an individual has the opportunity to receive monthly income in the long term.
Features:
- Profit will be paid monthly continuously for three/five years.
- No upper limit on initial deposit.
- Bangladeshis living abroad may also open this account for providing fixed amount of income to their dependent/families residing in Bangladesh.
- Deposit Amount: BDT 50,000 and its multiple.
- The full amount of deposit will be returned to the Depositor(s) at the end of the year or auto renewal for next term.
- The payable of income will start from the subsequent month after 30 days from the date of deposit.
- The monthly income may be credited to the savings/current account of the depositor(S) maintained with the Branch.
The Maturity Value Table is provided in the below table:
|
SL
|
Tenure
|
Interest Rate
(%)
|
Profit
(Before Tax) Per Lac
|
|
1
|
1 Year
|
11.00%
|
Tk 916.00
|
|
2
|
2 Year
|
12.20%
|
Tk 1,016.00
|
* Excise duty, Income Tax & VAT on Interest will be deducted at source.
Target Customers:
- It is for the account holder who wants to get benefit every month against his/her investment.
- At maturity, the account holder shall get back his/her full investment.
- Customer segment: 18+ years.
Terms and Conditions:
- CASA account required while opening the scheme.
- In case of premature encashment, after 6 (Six) months he/she will get savings rates, but before 6 (Six) months no interest will be paid.
- An account cannot be transferred from one branch to another branch. However, a client will have the option to collect the income/principal via bank’s collection mechanism and bank’s usual charge will apply (if any).
- All other terms and conditions as per opening of an account will apply.
