MDB Saalam Term Deposit - Corporate

MDB Saalam Term Deposit-Corporate is a Shariah compliant non-checking term deposit product to be governed by Shariah (Islamic Law) in Mudaraba mode.
Title Details
Eligibility
  • All Private and Public Limited Companies registered under RJSC.
  • All Government/Semi-Government Organizations.
  • NGOs
  • Company Provident Fund Account, Company Gratuity Fund Account.
  • Association/Club/Charity account.
  • Sole proprietorship and Partnership
  • Workers Prettifications Fund (WPF)
  • Non Individual Customer Segment etc
Availability
  • All MDB branches/Uposhakha or Sub Branch.
Minimum initial deposit amount
  • Tk 10, 000
Tenure
  • 1/3/6/12/18 & 24 months
Profit Calculation
  • Weighted Average Method
Profit Accrual & Payment
  • Profit will be accrued on monthly basis and applied to the account at maturity
Mode of Shariah
  • Mudaraba
Account Maintenance Fee
  • No fee
Account Closure Fee
  • No fee
Tax, Excise Duty & VAT
  • Will be deducted as per NBR rules
Tax, Excise Duty & VAT
  • Will be deducted as per NBR rules
Required document
  • MDB Comprehensive Account Opening Documentary Checklist and Bangladesh Bank guidelines.
Introducer's Eligibility Introducer is not required for existing customer. For new customers, introducer is required. Following persons can act as introducer:
  • Any existing MDB Bank account holder or
  • Any MDB officials (including Direct Sales Officer)
  • Socially known person acceptable to the Bank
Pre-mature Encashment*
  • As per premature encashment policy of the bank