MDB Digital Double Benefit Plus Scheme

MDB Digital Double Benefit Plus Scheme Account is a scheme account which will be opened by existing CASA holder through our internet banking platform, i.e. midland online. The scheme is a monthly interest bearing and yearly interest paying scheme account for any Bangladeshi Citizen

  • Any Bangladeshi citizen having Midland Bank CASA Account and that account is registered with MDB online facility, can open this scheme Deposit account.
  • In case of minor account, legal guardian will operate the account on behalf of the minor until the minor reaches the age of 18.
Joint Application
  • This scheme can be opened in single name or in joint names. However, the title of the MDB Digital Double Benefit Plus Scheme Account will be same as respective MDB CASA Account Name.
  • The operating instruction of the account has to be “Either or survivor”.
  • In midland Online (under Internet banking).
Product Description
  • This account is in local currency (BDT).
  • This is a Non-Transactional savings scheme.
  • This product is for existing Midland CASA account holders only. They have to get registered in ‘midland online’ or Internet banking facility.
  • The primary deposited amount will be doubled after 3/4/5/6 years (as preferred by the
  • Minimum primary deposit amount will be 25,000 and its multiples.
  • Customer can deposit monthly installments through CASA account only.
  • More than 01 (one) account can be opened by the same customer.
  • Free internet banking facility.
  • Free SMS banking facility.
Monthly amount to be deposited
Account Opening Process and
Required Document
  • Enrolled MDB online users will log in to midland online through secured web portal or mobile
    apps and place request by filling the digital template and agreeing with all terms and conditions
    therein. Process to fill up digital template
    log in to ‘midland online’> Account Services>Schemes>fill up form and submit.
  • No Account opening Form will be required.
  • No signature will be required.
  • No documentation is required.
  • Existing regular KYC will serve the requirement.
  • Before opening the scheme deposit account screening process will be run.
  • Before opening the scheme deposit account sufficient balance must be ensured by the client.
  • Multiple accounts can be opened by the customer.
Amount Payable
  • On maturity, primarily deposited amount will be doubled and final payment will be made after
    deducting taxes & duties applicable as per rules of NBR.
Account Nominee
  • Nominee will be as similar as existing MDB CASA account.
  • Multiple nominees are allowed as decided by the account holder(s) for each account.
Installment Failure & penalty
  • Late fees will be charged per month for failure to deposit the instalment in time as per MDB rules.
  • If 6 (six) installments become overdue at any point of time, then the scheme will be halted.
    Customer will submit closure request through Midland Online or by visiting nearest bank outlet.
Maturity & Closing
  • 3/4/5/6 years from the date of A/C opening. However, if any installment is pending at the time of maturity then the scheme will be closed after 1 month from the date on which all installments has been realized.
  • Customer can close the scheme account any time before maturity. In case of premature encashment, ‘Premature Encashment’ rule will be applicable.
  • At maturity, if system allows then the account will be automatically closed and closing proceeds will be transferred to customers CASA account.
  • The Scheme can be closed at any time by providing online application through ‘midland online’.
    Process to submit online closing request
    log in to ‘midland online’> Account Services>Encashment Services> Select the concern
  • Or MDB online users can take any branch or other stake holder’s assistance to process the encashment application.
  • Matured amount will be paid to customer CASA A/C only.
  • Account closure Fee is NIL.
Taxes, Duties and Surcharges
  • All taxes/duty/levy and /or any other surcharges presently in force or that may be imposed by the
    Government of Bangladesh from time to time will be deducted/ recovered from the deposit
    account under this scheme.
Premature Encashment
  • If encashed before 1 (one) year then no interest will be paid.
    If encashed after 1 year and before the expiry, then interest will be paid as per savings a/c interest
Loan Facility
  • Loan may be granted up to 90% of the deposited amount.