MDB Kotipoti

MDB Kotipoti is a monthly deposit scheme account which will earn the account holders BDT 10 Million (before tax) after a certain period. The scheme is offered with a wide range of tenor flexibility to meet varied customer needs. This scheme will be very much helpful to implement a future plan successfully by small savings by the depositors.

Title Details
Product Description
  • More than 01 (one) account can be opened by the customers either in the single name or in the joint names.
  • Free internet banking & SMS Alert Service facility.
  • Automatic Fund Transfer (AFT) facility to scheme account from your Current/Savings Account.
  • Eligibility
  • Any Resident Bangladeshi citizen can open this 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.
  • Tenure
  • 3 years / 5 years / 8 years / 10 years / 12 years / 15 years / 20 years/
  • Maximum Amount at Maturity
  • BDT 10,000,000 (One Crore Taka) Only before tax and other charges.
  • Interest
  • Deposit rates
  • Account Closing / Method & Forfeiture of Earning Interest If the customer intends to withdraw his/her deposit before maturity (i.e. premature encashment) or if the customer fails to pay 03 (three) consecutive installments, the following rules will apply:
  • The account will remain on halt (i.e. no further interest shall be accrued and no further deposits to the account will be allowed) until the customer visits the branch and claims for the amount payable to the customer.
  • If the deposit scheme is en-cashed before 12 (twelve) instalments; No benefit including interest will be given to the depositor and any accrued interest will be reversed in this case.
  • If the deposit scheme is en-cashed after 12 (twelve) instalments (& before maturity of the scheme); the depositor shall receive interest at the prevailing savings account rate.
  • Fees & Charges
  • The operation of savings scheme accounts are subject to the laws, banking regulations or banking practices that may change from time to time.
  • All taxes / Government Excise Duty 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.
  • Late fees will be charged per month for failure to deposit the instalment in time as per MDB rules.
  • Credit Facility
  • The customer can avail a secured facility against this product up to 90% of the customer’s deposit amount (without interest). But this facility will be effective after 01 (one) year from opening the account.