MDB Digital SAVINGS
This is an online Savings Account developed to facilitate the customers to open this account from anywhere and anytime through internet via the account opening page. The product is designed in such a way that the customers do not need to visit branches except to make cash or cheque deposits as per their choice and convenience.
Title |
Details |
Product Description |
- The account can be opened through MDB website.
- The accounts will be in local currency (BDT).
- No initial deposit is required.
- Free Debit Card facility (Lifetime).
- Free Internet Banking facility.
- Free SMS Banking facility (1st year only).
- Free monthly e-statement facility.
- Daily ATM transaction amount of up to BDT 50,000 and POS transaction amount of up to BDT 50,000. However, it can be increased at the request of the customer.
- Daily Debit Card transaction limit (up to 10 transaction, ATM + POS).
- 50% waiver on Foreign Currency endorsement.
- A one time in person meeting is needed for introduction and obtaining original ID documents as per BANGLADESH BANK regulation. If within 35 KM of any of our Branches, Banking Booths or Agent Banking Centres, one of our staff will visit you. If outside 35 KM, the one time visit to any of our offices is needed for introduction and submission of original ID documents.
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Eligibility |
- Any Resident Bangladeshi citizen can open this account.
|
Availability |
- Through MDB website (www.midlandbankbd.net).
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Minimum Initial Deposit Amount |
- There is no initial deposit required to open the account.
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Interest |
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Account Opening Process and Required Document |
- Bank’s prescribed online Account Opening Form (AOF) that will be available in MDB website (www.midlandbankbd.net).
- 02 (Two) passport size photographs of account holder(s) attested by the introducer
- Photocopy of valid Photo ID: Passport/National ID attested by the introducer.
- 01 (one) passport size photograph of nominee(s) attested by account holder(s).
- Photocopy of valid Photo ID: Passport / National ID / Birth Certificate (supported by valid Photo ID to be obtained as per BFIU, Bangladesh Bank guideline) of the nominee(s)/legal guardian (if any) attested by the account holder(s).
- The account opening procedure shall be strictly followed as per MDB Branch Operations Manual and Bangladesh Bank guidelines that may change from time to time.
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Joint Applicant Option |
- Customer can open the MDB Digital Savings Account either in the single name or in joint names.If anyone wants to open a joint account, the mode of operation of the account will be “Either or Survivor”.
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Interest Accrual, Payment & Forfeiture Rules |
- Interest will be calculated on End of Day (EOD) balance of the account and applied to the account on a monthly basis.
- The customers may withdraw fund any time without losing interest on the End of Day (EOD) balance. However, if a customer does more than 10 transactions (either through ATM or POS) in a day, the interest will be forfeited for the month.
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Cheque Book Facility |
- No Cheque Book will be allowed/issued under this product.
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Debit Card Facility |
- Debit Card is MANDATORY. If the customer requests for a Debit Card, the account must be activated first by fulfilling all the necessary criteria as per the Bank’s requirements and the customer must have an available balance of at least BDT 1,000.
- The annual fees for the debit card is waived for LIFETIME. However, for any card replacement (lost/stolen/damaged), the customer needs to pay "As per Schedule of Charges" of the Bank.
- The Debit Card and its PIN will be sent to the customers’ residence through 2 different couriers in different days.
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Debit Card Transaction Limit |
- The Debit Card transaction limit is restricted to 10 transactions in a day. However, the customer may request to increase the number of transaction limit in a day based on his/her requirement. In that case, the interest will be forfeited (for more than 10 transaction in a day) for the month.
- A customer can withdraw up to BDT 50,000 through ATM and up to BDT 50,000 through POS in a day. However, the customer may request to increase/decrease the limit as per their convenience.
- The above transaction limits must be supported by the Transaction Profile (TP) declared by the customers.
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Internet Banking Facility |
- Internet Banking Facility (midland online) is MANDATORY for all the accounts under this product.
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Account Maintenance Fee |
- BDT 300 plus VAT applied to the account on half yearly basis.
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Account Closure Fee |
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Other Fees & Charges |
- 50% waiver on Foreign Currency endorsement.
- Government Excise Duty is applicable.
- Withholding Tax is applicable on the interest earned in the account which will be deducted at source. The operation of MDB Digital Savings Accounts are subject to the laws, banking regulations or banking practices that may change from time to time.
- 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 account.
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MDB Digital Fixed Deposit Account
This is an online based Term Deposit Account that is made to facilitate the customers to open this account from anywhere and anytime through internet through their computer and mobile. The product is designed in such a way that the customers do not need to visit branches or other stakeholders. There would be no traditional FDR receipt for this. Receipt has replaced by FDR acknowledgement/advice.
Title |
Details |
Product Description |
- The Fixed Deposit can be opened through existing MDB online user only;
- This is a non-transactional term deposit account;
- The accounts will be in local currency (BDT);
- Free SMS Banking facility
- Minimum 10,000 BDT and no maximum limit for fixed deposit.
- No Account –opening Form and No Wet Signature are required.
- Virtual banking facility.
|
Eligibility |
- Any Resident Bangladeshi citizen having registered with MDB online facility can open this term Deposit account.
- In case of minor account. Legal Guardian having registered with MDB online facility can open and operate the account on behalf of the minor until the minor reaches the age of 18.
- Proprietorship concern having registered with MDB online facility can open this Term deposit
- Any mandate holder, Partnership concern and any limited or unlimited liability institutions are NOT eligible for this product.
- A CASA account is mandatory to avail the facility.
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Availability |
- Through MDB online portal of the account holders using their personal computer and mobile applications.
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Minimum initial deposit amount |
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Account Opening Process and Required Document |
- Enrolled MDB online users will log in to their secured web portal and place request through that by filling the digital template and agreeing all the related terms and conditions therein.
- No Account opening Form will be required
- No wet signature will be required.
- No documentation is required.
- Existing regular or digital Account’s KYC will serve the requirement.
- Before opening the Term deposit account screening process will be run.
- Before opening the Term deposit account sufficient balance must be ensured by the client.
- Term Deposit Account name will be as similar as CASA Account Name.
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Tenure |
- 1 Month, 3 months, 6 months, 12 months, 18 months & 24 months.
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Interest Rate |
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Interest Accrual & Payment |
- Interest will be accrued monthly and paid at maturity.
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Premature Encashment rule |
- As per premature encashment policy of the bank
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Account Closure Process and Fee |
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Closing proceeds Payment Method |
- To the source MDB CASA Account only.
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Other Fees & Charges |
- Government Excise Duty is applicable.
- Withholding Tax is applicable on the profit earned in the account which will be deducted at source. The operation of MDB Digital Term Deposit Accounts are subject to the laws, banking regulations or banking practices that may change from time to time.
- 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 account.
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Bank’s Terms & Conditions |
- Details terms and conditions will be displayed to their MDB online user’s panel before opening the term deposit. It will be required to read and accept before establishing the relationship.
- The Bank reserves the right to change the rules/procedures of the product if deemed necessary.
- Any compliance issue to be ensured as per circulars of the bank as well as Bangladesh Bank from time to time.
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MDB Digital Monthly Savings Scheme
Midland Bank Ltd. has always been in the upfront of implementing technology based solutions. The Bank offers multiple customized solution to its valued customers to meet their varied demands. MDB DIGITAL MONTHLY SAVINGS SCHEME is one of the lucrative additions to the technological advancement of the Bank which is an online based monthly scheme Deposit Account that is made to facilitate the customers to open this account from anywhere and anytime through internet.
Title |
Details |
Product Description |
- The Monthly Scheme Deposit can be opened through existing MDB online user only;
- This is a non-transactional term deposit account;
- The accounts will be in local currency (BDT);
- Free SMS Banking facility (1st year only);
- E-statement facility;
- EMI starting from Minimum 250 BDT, 500 BDT & its Multiple (But limited up to 25000 BDT)
- No Account –opening Form and No wet Signature are required.
- Virtual banking facility.
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Eligibility |
- Any Resident Bangladeshi citizen having registered with MDB online facility can open this term Deposit account.
- In case of minor account. Legal Guardian having registered with MDB online facility can open and operate the account on behalf of the minor until the minor reaches the age of 18.
- Proprietorship concern having registered with MDB online facility can open this Term deposit
- Any mandate holder, Partnership concern and any limited or unlimited liability institutions are NOT eligible for this product.
- A CASA account is mandatory to avail this facility.
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Availability |
- Through MDB online portal of the account holders using their personal computer and mobile applications.
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Minimum Initial Deposit Amount |
- The first instalment amount will be the initial deposit. Initial amount will be minimum BDT 250,BDT 500 & it multiplies up to BDT 25,000.
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Interest |
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Account Opening Process and Required Document |
- Enrolled MDB online users will log in to their secured web portal and place request through that by filling the digital template and agreeing all the related terms and conditions therein.
- No Account opening Form will be required
- No wet signature will be required.
- No documentation is required.
- Existing regular or digital Account’s KYC will serve the requirement.
- Before opening the monthly scheme deposit account screening process will be run.
- Before opening the monthly scheme deposit account sufficient balance must be ensured by the client.
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Tenure |
- 3 years / 5 years / 8 years / 10 years
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MDB Digital Probashi SAVINGS
This is an online Savings Account developed to facilitate the Non-Resident Bangladeshi (NRB) customers to open this account from anywhere and anytime through internet via the Bank’s website (www.midlandbankbd.net). The NRB customers who are working abroad and would like to save their earnings in Bangladesh for their family and for future benefits can open this account through MDB Website and avail the benefits. The product is designed in such a way that the customers do not need to visit branches except to make cash or cheque deposits as per their choice and convenience.
Title |
Details |
Product Description |
- The account can be opened through MDB website.
- The account will be opened in local currency (BDT).
- No initial deposit is required.
- Free Debit Card facility (Lifetime).
- Free Internet Banking facility.
- Free SMS Banking facility (1st year only).
- Free monthly e-statement facility.
- Daily ATM transaction amount of up to BDT 100,000 and daily POS transaction amount limit to be BDT 200,000 (max. 1 lac Tk. Per transaction). However, it can be increased at the request of the customer.
- Daily Debit Card transaction limit (up to 10 transaction, ATM + POS).
- Check book facility can be availed by physically visiting account bearing branch.at the time of traveling to Bangladesh.
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Eligibility |
- Any Non Resident Bangladeshi (NRB) residing abroad can open this account.
- Dual citizen holding foreign passport
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Availability |
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Minimum Initial Deposit Amount |
- There is no initial deposit required to open the account.
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Interest |
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Account Opening Process and Required Document |
- Bank’s prescribed online Digital Probashi Savings Account Opening Form (AOF) will be available in MDB website (www.midlandbankbd.net).
- The customer will fill-up the online form, generate a tracking number, and download the filled account opening form.
- The customer will sign in the required places of the account opening form, attach photographs including nominee’s photograph.
- The customer will then scan both account opening form and relevant documents and send those necessary documents through e-mail to the group email address of International Division and NRB, nrb.banking@midlandbankbd.net from his/her registered e-mail.
- International Division & NRB will conduct all the necessary checking, do necessary correspondence with the customer before account opening.
- If AOF and its relevant documents are found in order, then International Division & NRB will forward the file to respective branch for account opening.
- Respective Branch will open the account and e-mail the account number and other details to the customer with CC to International Division & NRB Group e-mail nrb.banking@midlandbankbd.net
Applicant Identification documents:
- In case of Bangladeshi Passport, photocopy of valid passport (first 2 pages) with identification information.
- In case of foreign passport, photocopy of the pages containing identification information and picture of the Applicant and the page that have the NVR seal /“No Visa Required for Travel to Bangladesh” will be additionally required.
Valid Residency Proof Documents:
- In case of Bangladeshi Passport, photocopy of valid Visa / Work Permit / Green Card / Residence Permit (if it is in any other language other than English, no translation is required).
Address Proof documents: Any of the following document will suffice-
- Work ID.
- Utility Bill.
- Pay Slip / Job Contract Letter.
- Driving License.
- Government issued ID Card.
- Credit Card Bills.
- Rent Receipts / Contracts.
- Health Card.
- Overseas Bank Statement.
Source of Income Proof documents: Any of the following document will suffice-
- Pay Slip / Job Contract Letter.
- Overseas Bank Statement.
- Overseas TAX Certificate.
- Any other valid document acceptable to the Bank.
Nominee Identification Document:
- Any Valid Copy of Photo ID of the Nominee(s).
- Nominee photo: 1 passport sized photograph for each Nominee(s) attested by account holder.
Note: The account opening procedure shall be strictly followed as per MDB Branch Operations Manual and Bangladesh Bank guidelines that may change from time to time.
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Document Endorsement and Attestation Process |
- It is NOT MANDATORY to send original documents to MDB Head Office or any concerned branch.
- If the applicant is NRB carrying VISA/port entry seal in their Bangladeshi passport, then NO attestation is required.
- If the applicant is Dual citizen carrying foreign documents like foreign passport, source of income document, then attestation will be required. The attestation can be done from the below organization by taking sign with seal of the respective official of that organization on the above photocopied document ('Original Seen' marking):
- Bangladesh High Commission
- Any MDBL affiliated Exchange House
- Any reputed Bank's branch
- Notary public in his/her currently residing country
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Joint Applicant Option |
- Customer can open the MDB Digital Probashi Savings Account either in the single name or in joint names.If anyone wants to open a joint account, the mode of operation of the account will be "Either or Survivor".
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Joint Applicant’s Required Documents |
In case of the joint Applicant is a Non Resident Bangladeshi:
- The similar documentations mentioned for the Applicant would need to be obtained.
In case of the Joint Applicant is a Resident Bangladeshi:
- National ID/ Passport Copy.
- Photocopy of valid Photo ID: Passport/National ID/ Birth Certificate (supported by valid Photo ID to be obtained as per BFIU, Bangladesh Bank guideline) .
- Photo: 2 passport sized.
- Address proof documents i.e. any utility bill, lease agreement.
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Interest Accrual, Payment & Forfeiture Rules |
- Interest will be calculated on End of Day (EOD) balance of the account and applied to the account on a monthly basis.
- The customers may withdraw fund any time without losing interest on the End of Day (EOD) balance. However, if a customer does more than 10 transactions (either through ATM or POS) in a day, the interest will be forfeited for the month.
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Cheque Book Facility |
- Cheque book shall be allowed only after visiting concerned branch by the customer.
- Online Application shall not be entertained.
- Signature Card shall be taken and uploaded in the CBS only after visiting the account bearing branch by the account holder.
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Debit Card Facility |
- Debit Card is MANDATORY. If the customer requests for a Debit Card, the account must be activated first by fulfilling all the necessary criteria as per the Bank’s requirements and the customer must have an available balance of at least BDT 1,000.
- The annual fees for the Debit Card is waived for LIFETIME. However, for any card replacement (lost/stolen/damaged), the customer needs to pay as per “Schedule of Charge” of the Bank.
- The Debit Card and its PIN will be sent to the customers’ foreign address through 2 different couriers in different days through reputed insured courier services. However, the customer must bear the courier charge (at actual) if s/he wishes to get it delivered it to the desired foreign address.
- The customer can also choose to avail the card while s/he will be available in Bangladesh to physically collect the Debit Card and it’s PIN.
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Debit Card Transaction Limit |
- The Debit Card transaction limit is restricted to 10 transactions in a day. However, the customer may request to increase the number of transaction limit in a day based on his/her requirement. In that case, the interest will be forfeited (for more than 10 transaction in a day) for the month.
- A customer can withdraw up to BDT 100,000 through ATM and up to BDT 200,000 (max. 1 lac Tk. Per transaction) through POS in a day. However, the customer may request to increase/decrease the limit as per their convenience.
- The above transaction limits must be supported by the Transaction Profile (TP) declared by the customers.
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Internet Banking Facility |
- Internet Banking Facility (midland online) is MANDATORY for all the accounts under this product.
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Account Maintenance Fee |
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Account Closure Fee |
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Other Fees & Charges |
- Government Excise Duty is applicable.
- Withholding Tax is applicable on the interest earned in the account which will be deducted at source. The operation of MDB Digital Probashi Savings Accounts are subject to the laws, banking regulations or banking practices that may change from time to time.
- 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 account.
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MDB DIGITAL FAMILY SUPPORT SCHEME
Midland Bank Ltd. has always been in the forefront of implementing technology based solutions. The Bank offers multiple customized solution to its valued customers to meet their varied demands. MDB DIGITAL FAMILY SUPPORT SCHEME DEPOSIT ACCOUNT is one of the innovative additions to the technological advancement of the Bank which is an online based Family Support Scheme Deposit Account that is made to facilitate the customers to open this account from anywhere and anytime through internet. The product is designed in such a way that the customers do not need to visit branches or other stake holders and the customer who is very keen to adopt e-banking technology to cater their various needs. This product is designed for existing internet banking users only.
Title |
Details |
Product Description |
- The Digital Family Support Scheme Deposit can be opened by existing MDB online user ONLY
- CASA Account is mandatory for this
- This is a non-transactional Family Support Scheme deposit account
- The accounts will be in local currency (BDT)
- Free SMS Banking facility
- Self-generated E-statement facility
- Minimum 50,000 BDT and No Maximum limit for Family Support Scheme Deposit
- No Account –opening Form and No wet Signature are required.
- Virtual banking facility.
- No traditional Family Support Scheme Receipt.
|
Eligibility |
- Any Resident Bangladeshi citizen having registered with MDB online facility can open this Digital Family Support Scheme Deposit account.
- In case of minor account. Legal Guardian having registered with MDB online facility can open and operate the account on behalf of the minor until the minor reaches the age of 18.
- ONLY proprietorship concern having registered with MDB online facility can open this Digital Family Support Scheme deposit.
Restriction:
- Any mandate holder, Partnership concern and any limited or unlimited liability institutions are NOT eligible for this product.
|
Availability |
- Through MDB online portal of the account holders using their personal computer and mobile applications.
|
Minimum Initial Deposit Amount |
- BDT 50,000.00 (Fifty Thousand) only and its multiples
|
Maximum Limit of Deposit |
- Any amount multiply with 50,000 BDT. No booking in fractional amount.
|
Account Opening Process and Required Document |
- Enrolled MDB online users will log in to their secured web portal and place request through that by filling the digital template and agreeing all the related Digital Family Support Scheme Deposit and conditions therein.
- No Account opening Form will be required
- No wet signature will be required.
- No documentation is required.
- Existing regular or digital Account’s KYC will serve the requirement.
- Before opening the Digital Family Support Scheme deposit account screening process will be run.
- Before opening the Digital Family Support Scheme deposit account sufficient balance must be ensured by the client.
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Joint Applicant Option |
- Customer can open the MDB Digital Family Support Scheme Deposit Account in the single name. Family Support Scheme Deposit Account name will be as similar as CASA Account Name. In this Joint Account Case, Account operating instruction must be EITHER or SURVIVOR and Number of applicants cannot be more than two (02).
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Tenure |
- 3 months, 6 months, 12 months, 18 months, 24 months and 36 Months.
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Interest |
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Interest Accrual & Payment |
- Interest will be accrued monthly and also paid monthly.
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Cheque Book Facility |
- No Cheque Book will be allowed/issued under this product.
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Account Closure Process and Fee |
- Digital Family Support Scheme Deposit Account holder can be closed at any time by providing online application by their MDB web-portal directly.
- Or apply through already registered e-mail of MDB online users. Encashment request will duly signed and attached in that email. They will sent e-mail to cos.mdb@midlandbankbd.net
- Or MDB online users can take their any branch or other stakeholders assistance to process the encashment application.
- No Digital Family Support Scheme Deposit Receipt or advice will be required for encashment.
- Account closure Fee is NIL
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Closing proceeds Payment Method |
- Closing proceeds will be credited to the source MDB CASA Account only.
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Other Fees & Charges |
- Government Excise Duty is applicable.
- Withholding Tax is applicable on the profit earned in the account which will be deducted at source. The operation of MDB Digital Family Support Scheme Deposit Accounts are subject to the laws, banking regulations or banking practices that may change from time to time.
- 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 account.
- As per Schedule of Charges
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MDB DOUBLE BENEFIT
The deposit amount will be doubled after 10 Years 03 months.
Title |
Details |
Short Description |
The deposit amount will be doubled after 10 Years 03 months |
Amount to be deposited |
BDT 10,000.00 and its multiples. |
Taxes |
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. |
Date of Maturity |
10 Years 03 months |
Age |
Any citizen of Bangladesh aged 18-55 years can open this account. |
Maturity |
On maturity he/she will get double on initial deposited after 9 Years 4 months from the date of opening. |
Loan facility |
Loan may be granted up to maximum 80% of the deposited amount. |
Premature Encashment |
In case of premature encashment interest will be paid as per table mentioned in terms & conditions. |
Highest amount |
BDT 50.00 lakh for Individuals & BDT 5.00 crore for Corporate. |
* Product on Hold, no fresh booking is allowed. |
MDB Double Benefit Plus Scheme
MDB Double Benefit Plus Scheme Account is a scheme account, which comprises of a primary deposit and monthly installment till maturity period.
It is a monthly interest bearing and yearly interest paying scheme account for any Bangladeshi Citizen.
Eligibility |
|
- Any 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.
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Joint Application |
|
- This scheme can be opened in single name or in joint names.
|
Availability |
|
- All MDB branches, Sub-branches and Agent Banking Centers.
|
Product Description |
|
- This account is in local currency (BDT).
- This is a Non-Transactional savings scheme.
- The primary deposited amount will be doubled after 3/4/5/6 years (as preferred by the
customer).
- Minimum primary deposit amount will be 25,000 and its multiples. Equal monthly
installment to be paid till maturity.
- Customer will deposit monthly installments through linked individual CASA.
- More than 01 (one) account can be opened by the same customer.
- Free internet banking facility.
- Free SMS banking facility.
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Monthly amount to be deposited |
|
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Account Opening Process and
Required Document |
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- Bank’s prescribed Scheme Account Opening Form (AOF).
- The documents required to open this account and account opening procedure shall strictly
follow MDB Branch Operations Manual, MDB Comprehensive Account Opening
Documentary Checklist and Bangladesh Bank guidelines that may change from time to time.
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Interest Accrual & Payment |
|
- Interest will be calculated at the end of month and applied to the account at the year-end or
at maturity whichever is earlier.
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Amount Payable |
|
- On maturity, primarily deposited amount (without first instalment) will be doubled and final
payment will be made after deducting taxes & duties applicable as per rules of NBR.
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Account Nominee |
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- Multiple nominees are allowed as decided by the account holder(s) for each account.
- Nomination will be cancelled if nominee(s) dies in the life time of
account holder(s). The account holder(s) in such cases will advise in writing to appoint new nominee(s).
- In case of minor nominee(s), a legal guardian is also required with Photograph and photo
ID.
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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 visit branch and submit closure request for closing of the scheme.
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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 have been realized.
- Customers can close the scheme account any time before maturity. In case of premature
encashment, ‘Premature Encashment’ rule will be applicable.
- 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 rate.
|
Maximum Limit |
|
- There is no maximum limit under this product. Amount has to be BDT 25,000.00 or its
multiplication.
|
Loan Facility |
|
- Loan may be granted up to 90% of the deposited amount.
|
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.
Eligibility |
|
- 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”.
|
Availability |
|
- 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
customer).
- 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
Scheme>Submit.
- 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
rate.
|
Loan Facility |
|
- Loan may be granted up to 90% of the deposited amount.
|
MDB SAVINGS ACCOUNT - GENERAL
Title |
Details |
Eligibility |
- Any Bangladeshi citizen with photo ID document as applicable for savings account
- Age 18 years and above
|
Availability |
- All Mdb Branches, Sub Branches & Agent Banking Centers
|
Minimum initial deposit amount |
|
Interest Calculation |
- Interest will be calculated on monthly balance of the account.
|
Interest Accrual & Payment |
- Interest will be accrued on monthly basis and paid half yearly basis.
|
Key Benefits |
- Attractive Interest rate
- Interest is credited to account on half yearly basis
- No debit card Fee for 1st year
- Free internet Banking.
|
Joint Applicant Option |
- Applicant can open account either in the single name or in the joint names.
|
Debit Card |
|
Cheque Book |
- Branch will issue cheque book against the account.
|
Account Maintenance Fee |
|
Account Closure Fee |
|
Tax, Excise Duty & VAT |
- Will be deducted as per NBR rules
|
Required document |
- Bank's prescribed AOF (signed by the applicant)
- Three PP size photographs of applicant(s) attested by the introducer
- Copy of valid photo ID like; Passport, NID etc.
- One PP size photograph of nominee attested by account holder
|
Introducer's Eligibility |
- Any existing MDB Bank account holder or
- Any MDB officials (including Direct Sales Officer)
|
MDB SUPER MONTHLY SAVINGS
Customer(s) will pay certain monthly installment for a definite period and after maturity he/she will be given an amount as agreed at time of account opening.
Title |
|
Details |
Deposit at type |
|
Installment monthly. |
Amount to be deposited |
|
As per Deposit Rate |
Date for installment |
|
Any time in the month. |
Maturity/Disbursement |
|
The scheme will be disbursed on the 30th of next month after the last installment. |
Force Closure |
|
If a customer fails to pay three (3) consecutive installment. |
Taxes, Duty, 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 |
|
In case of premature encashment, Savings Interest will be given if minimum 12 instalment is deposited & last instalment must stay for 1 month. |
Eligibility |
|
- Any Bangladeshi citizen with photo ID document as applicable for Super Monthly Savings account.
- Age 18 years and above.
|
Availability |
|
All MDB branches. |
MDB SUPER SAVER
MDB Super Saver account is a daily interest bearing and monthly interest paying savings account for any Bangladeshi citizen.
Title |
|
Details |
Eligibility |
|
- Any Bangladeshi citizen with photo ID
document as applicable for savings account
- Age 18 years and above
|
Availability |
|
|
Minimum initial deposit
amount |
|
|
Interest
Calculation |
|
- Interest will be calculated on daily balance of the account. If average
balance of the accounts falls below Tk. 15,000/-, client will lose the interest for the day.
|
Interest Accrual &
Payment |
|
- Interest will be accrued on monthly basis and paid monthly basis.
|
Key Benefits |
|
- Interest calculated on daily balance
- Interest is credited to account on monthly basis
- No debit card Fee for 1st year
- Free internet Banking.
|
Joint Applicant
Option |
|
- Applicant can open account either in the single name or in the joint names.
|
Debit Card |
|
|
Cheque Book |
|
- Branch will issue cheque book against the account.
|
Account Maintenance Fee |
|
|
Account Closure Fee |
|
|
Maximum allowed debit transaction per month |
|
- Maximum 10 (ten) debit transaction are allowed in a month to qualify interest for the month
|
Tax, Excise Duty & VAT |
|
- Will be deducted as per NBR rules
|
Required document |
|
- Bank's prescribed AOF (signed by the applicant)
- Three PP size photographs of applicant(s) attested by the introducer
- Copy of valid photo ID like; Passport, NID, Driving License etc.
- One PP size photograph of nominee attested by account holder
|
Introducer's Eligibility |
|
- Any existing MDB Bank account holder or
- Any MDB officials (including Direct Sales Officer)
|
MDB SCHOOL SAVER
MDB School Saver Account is a daily interest bearing and half yearly interest paying sayings account for school/college students.
Title |
|
Details |
Eligibility |
|
- Any Bangladeshi school/college student with photo ID
document as applicable for savings account
- Age bellow 18 years
|
Availability |
|
|
Minimum initial deposit
amount |
|
|
Interest
Calculation |
|
- Interest calculation as per MDB regular savings account.
|
Interest Accrual &
Payment |
|
- Interest will be accrued on monthly basis and paid half yearly basis.
|
Key Benefits |
|
- Interest calculated on daily balance
- Interest is credited to account on half yearly basis
- No debit card Fee
- Waiver of account maintenance fee
|
Joint Applicant
Option |
|
- Kids can open account either in the single name or in the joint names.
- Both applicants must be school/college students, under age 18 year.
|
Debit Card |
|
- Debit card is mandatory. Card will be issued in the name of the
guardian.
|
Cheque Book |
|
- No cheque book will be issued against the account
|
Account Maintenance Fee |
|
- Waiver of account maintenance fee
|
Account Closure Fee |
|
|
Maximum allowed debit transaction per month |
|
- Maximum 4 (four) debit transaction are allowed in a month to qualify interest for the month
|
Tax, Excise Duty & VAT |
|
- Will be deducted as per NBR rules
|
Required document |
|
- Bank's prescribed AOF (signed by the applicant)
- ID card of the school/college
- Three PP size photographs of applicant(s) attested by bank official/any person acceptable to MDB
- Intimation of Guardian as per bank's prescribed AOF
(Individual information form duly signed by guardian).
- 2 copies
PP size photographs of the guardian.
- Copy of valid photo ID like Passport, NID, Driving License
etc. of guarding and one copy PP size photograph
- One PP size photograph of nominee attested by guardian.
|
Introducer's Eligibility |
|
- Any existing MDB Bank account holder or
- Any MDB officials (including Direct Sales Officer)
|
Termination or
account conversion
time |
|
- Whenever the account holder become major (become 18 years)
the account will be terminated or account will be converted to
normal savings account followed by customer request (as per
bank discretion)
|
MDB COLLEGE SAVER
MDB College Saver is a daily interest bearing and monthly interest paying savings account for college/University students.
Title |
Details |
Eligibility |
- Any Bangladeshi college/university student with photo ID
document as applicable for savings account
- Age 18 years and above
|
Availability |
|
Initial deposit
amount |
|
Interest
Calculation |
- Interest will be calculated on daily balance of the account. If average
balance of the accounts falls below Tk. 2000/-, client will lose the interest for the day.
|
Interest Accrual &
Payment |
- Interest will be accrued on monthly basis and paid monthly basis.
|
Key Benefits |
- Interest calculated on daily balance
- Interest is credited to account on monthly basis
- No debit card Fee
- Waiver of account maintenance fee
- Free internet Banking.
|
Joint Applicant
Option |
- Applicant can open account either in the single name or in the joint names. Both applicants must be college/university students, age 18
years and above.
|
Debit Card |
|
Cheque Book |
- No cheque book will be issued against the account
|
Account Maintenance Fee |
- Waiver of account maintenance fee
|
Account Closure Fee |
|
Maximum allowed debit transaction per month |
- Maximum 10 (ten) debit transaction are allowed in a month to qualify interest for the month
|
Tax, Excise Duty & VAT |
- Will be deducted as per NBR rules
|
Required document |
- Bank's prescribed AOF (signed by the applicant)
- ID card of the college/university
- Three PP size photographs of applicant(s) attested by bank official/any person acceptable to MDB
- Copy of valid photo ID like; Passport, NID, Driving License etc.
- One PP size photograph of nominee attested by account holder
|
Introducer's Eligibility |
- Any existing MDB Bank account holder or
- Any MDB officials (including Direct Sales Officer)
|
MDB CORPORATE PAYROLL PACKAGE
Enjoy the exclusive benefits of our Corporate Payroll service.
Title |
Details |
Features |
- No minimum balance required.
- Interest will be calculated on day end balance and credited monthly.
- No Account Maintenance Fee.
- First chequebook Free.
- Account statement is free.
- Salary Disbursement Charge for the Organization is Free.
- Free Debit Card.
- Cross Branch Transaction Free.
- Daily withdrawal limit up to BDT 100,000 through ATM.
- Salary transferred electronically from company account.
- SMS Transaction Alert free (for first year).
- Free Internet banking through 24 hours Internet Banking facility midland online.
|
Discounts |
- Other attractive discounts on loan interest and processing fees available.
|
Taxes, Duty, Surcharges |
|
MDB FAMILY SUPPORT
MDB Family Support Scheme is a monthly interest bearing and paying scheme account for any Bangladeshi citizen. Where customer can withdraw the interest on monthly basis.
Title |
Details |
Tenure |
03/06/12/18/24/36 month (Renewable) |
Amount to be deposited |
BDT 50,000.00 (Fifty Thousand) only and its multiples |
Benefit |
Customer will get BDT 500 per month (before tax) for each deposit of BDT 1,00,000.00 |
Age |
Any citizen of Bangladesh aged 18-65 years can open this account. Minors will be allowed to open account subject
to completion of due formalities. |
Taxes, Duty, Surcharges |
Will be deducted as per NBR rules. |
Loan facility |
Loan may be granted up to maximum 90% of the surrender value. |
Premature Encashment |
In case of premature encashment interest will be paid ( only for those with more than 6 months continuation) as per bank policy |
Highest Amount |
Any amount can be booked without any prior approval |
MDB GIFT CHEQUE
MDB Gift Cheque as a unique instrument replacing traditional gift items or cash,
and the recipient will have his/her liberty for encashment, and hence the hassle as well as saves time,
for the purchaser.
Title |
|
Details |
En-cashibility |
|
En-cashable at any branch using either of the two modes: (a) cash or (b) Fund Transfer
|
Availability |
|
All MDB branches
|
Interest Applicable |
|
Interest is applicable only if the instrument is en-cashed after three months from the date of issuance in the following manner:
1. No Interest if en-cashed within three months from the date of purchase.
2. Attractive Interest if en-cashed after three months and within six months from the date of
purchase
3. Attractive Interest if en-cashed after six months and within one year from the date of purchase
4. Attractive Interest if en-cashed after one year or more, subject to a maximum period of 02 (Two)
years(Interest rate will be reset periodically upon review by Midland Bank Ltd.' s Asset Liability
Committee and will be subject to change as per deposit rate sheet)
|
Encashment |
|
Encashrnent of gift cheque will not be allowed over clearing (BATCH / BEFTN).
|
Gift Cheque
denomination |
|
To be issued in the denomination of Tk.500/-, Tk. 1000/-, Tk. 5000/- (Printed value).
|
Required document |
|
No documents require for purchase of gift cheque up-to Tk. 10,000/- and any higher
value would require KYC.
|
Service Charge |
|
No service charge is applicable.
|
Tax, Excise Duty & VAT |
|
Will be applicable as per NBR rules
|
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 |
|
As per Deposit Rate.
|
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.
|
MDB MILLIONAIRE SAVINGS SCHEME
MDB Millionaire Savings Scheme is a monthly deposit scheme which will earn the account holders BDT 1 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 1,000,000 (Ten Lac Taka) Only before tax and other charges
|
Interest |
|
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.
|
MDB PLATINUM SAVINGS SCHEME
MDB Platinum Savings Scheme is a monthly deposit scheme which will earn the account holders BDT 100 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 100,000,000 (Ten Crore Taka) Only before tax and other charges.
|
Interest |
|
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.
|
MDB TRAVELLERS'S SAVINGS
MDB Traveller's Savings Scheme is a short term deposit scheme product designed to facilitate the customers to accumulate fund and plan for a family vacation with the maturity amount of the scheme. The matured amount ranges from BDT 100,000 (One Lac Taka) to 500,000 (Five Lac Taka) (before Tax) and shall be transferred to a complimentary MDB Prepaid Card which shall additionally carry various benefits to make it an attractive package for the customer. 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 |
|
- A complimentary MDB VISA Prepaid Card will be given to the customer on maturity of the account where the matured amount (net) will be transferred to the Prepaid Card.
- 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.
|
Prepaid Card Benefits |
|
- Hassle free FCY endorsement on the MDB Prepaid card.
- Cash Back facility on overseas transaction through MDB Prepaid card.
- Discount facility at various shopping malls, hotels and restaurants nationwide with 2FA enabled for e-commerce/online transactions.
- No cash withdrawal fee at MDB ATMs for the issued MDB Prepaid Card.
|
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 |
|
- 1 year / 1 year 6 months / 2 years
|
Maximum Amount at Maturity |
|
- Up to BDT 500,000 (Five Lac Taka) Only before tax and other charges.
|
Interest |
|
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 |
|
- No credit facility shall be offered against the facility.
|
MDB e-Saver
MDB e-Saver Account, a paperless savings account that is made to facilitate the customers to open this account from any branch, sub branch and agent banking center of MDB. The product is designed in such a way that the customers can open the account using only NID card. MDB e-Saver Account holder will also be able to avail all the hassle-free digital services like SMS alert of any transaction to mobile phone, monthly e-statement and online fund transfer through BEFTN, NPSB, RTGS, bKASH without wasting time. Under the e-KYC guideline of Bangladesh bank, MDB e-Saver Account is going to be the most user-friendly, affordable & smart account in today’s banking industry.
Title |
Details |
Eligibility |
- Any Resident Bangladeshi citizen aged minimum 18 years & above can open the account.
- Minor can open this account along with legal guardian having NID card only.
|
Availability |
- All MDB Branches, Sub Branches & Agent Banking Centers
|
A/C Type |
Select one of the below two categories of MDB e-Saver a/c based on your monthly transaction pattern:
- Simplified e-Saver a/c (monthly transaction limit is 100,000 Tk. or below), or
- Regular e-Saver a/c (monthly transaction limit is above 100,000 Tk.)
- To open Regular e-Saver a/c, source of income document is required additionally.
|
Minimum initial deposit
amount |
- BDT 100 ( One Hundred) Only
|
Interest
Calculation |
- Interest will be calculated on daily EOD( End of Day) balance of the account.
|
Interest Accrual &
Payment |
- Interest will be accrued on daily basis and paid monthly basis.
|
Key Benefits |
- Account opening through thumb impression & face recognition technology,Paper less Instant Account opening, Attractive Interest rate, Interest is credited to account on monthly basis, No debit card Fee for 1st year, Free internet Banking, Free SMS alert facility for the 1st year.
|
Joint Applicant
Option |
- Customer can open the MDB e-Saver Account either in the single name or in joint names but every applicant must have NID as a proof of identity.
|
Debit Card |
- VISA Debit card is free for the 1st year .
|
Cheque Book |
- Branch will issue cheque book against the account. First issuance is completely free.
|
Account Maintenance Fee |
|
Account Closure Fee |
|
Tax, Excise Duty & VAT |
- Will be deducted as per NBR rules
|
Required document |
- National Identity Card of Account holder(s)
- Proof of Address (only If NID verified address mismatches)
- Bank may ask for additional documents based on customer category & transaction profile to fulfill the compliance from time to time as per Bangladesh Bank guideline.
|
Introducer's Eligibility |
- No Introducer Required for MDB e-Saver account as per Bangladesh Bank e-KYC guideline.
|
MDB INTEREST FIRST
MDB Interest First is a non-transactional account that a customer uses for interest earning in advance and savings purposes. The unique feature of this product is that interest is given upfront, at the time of opening the fixed deposit. Interest (after the adjustments of Government tax as per prevailing Bangladesh Bank Guideline on the interest amount) is immediately transferred to the link CASA account as per the bank prescribed Interest Rate Matrix.
Title |
Details |
Product Description |
- Interest is determined upfront
- It pays the interest instantly. Instant payment of interest to the agreed rate will be paid immediately upon opening the account.
- Minimum deposit amount will be BDT 100000/- (Taka One Lac) only.
- A CASA account is mandatory for this plan.
|
Eligibility |
- Any Resident Bangladeshi Citizen can open this account.
- Legal guardian will operate the account on behalf of the minor until the minor reaches the age of 18.
- All sorts of Firms, Institution, Organization and Companies having approval from proper authority in Bangladesh are eligible to open the account.
|
Availability |
- All The Branches/ Sub Branches/Agent Banking Centres
|
Tenure |
|
Minimum initial deposit amount |
|
Account Opening Process and Required Document |
- Bank's prescribed AOF (signed by the applicant).
- One Passport size photograph of applicant(s) attested by the introducer.
- Copy of valid photo ID like; Passport, NID, Birth Certificate with any photo ID of account holder(s) and nominee(s) (and legal guardian-if any).
- One Passport size photograph of nominee(s) (and legal guardian-if any) attested by account holder(s)
|
Joint Applicant Option |
- Customer can open the Deposit Account either in the single name or in the joint names.
|
Key Benefits |
- Interest paid in advance. can be further invested.
- Customers can enjoy Secured Overdraft facility up to 80% of the Fixed Deposit Face value.
- Credit facility is applicable for institutional customers and retail customers whose age is 18 years and above.
|
Interest Rate |
|
Premature Encashment rule |
- As per premature encashment policy of the bank
|
Account Closure Process and Fee |
|
Closing proceeds Payment Method |
- To the source MDB CASA Account only.
|
Other Fees & Charges |
- Government Excise Duty is applicable.
- Withholding Tax is applicable on the profit earned in the account which will be deducted at source. The operation of MDB Interest First is subject to the laws, banking regulations or banking practices that may change from time to time.
- 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 account.
|
Bank’s Terms & Conditions |
- Details terms and conditions will be displayed to their MDB online user’s panel before opening the MDB Interest First. It will be required to read and accept before establishing the relationship.
- The Bank reserves the right to change the rules/procedures of the product if deemed necessary.
- Any compliance issue to be ensured as per circulars of the bank as well as Bangladesh Bank from time to time.
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MDB PERSONAL RETAIL ACCOUNT
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Details |
Product Description |
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- This is a transactional current account.
- The accounts will be in local currency (BDT).
- Minimum initial deposit is not required to open the account.
- No limit in number and value of transactions.
- Free Debit Card facility (1st year only).
- Free Internet Banking facility.
- Free SMS Banking facility (1st year only).
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Eligibility |
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- Any business owner and individual entrepreneur above 18 years can open this account.
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Minimum Initial Deposit |
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Profit and its Application |
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- No profit is applied to this account.
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Account Opening Process and Required Document |
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- Bank's prescribed MDB Personal Retail Account Opening Form (Retail-AOF & KYC).
- NID of Applicant & Nominee.
- 2 copies passport size photo of applicant and 1 copy passport size photo of nominee.
- Utility bill copy (if own house).
- Office ID or Visiting Card, if available.
- Attestation from Local Representative (Union Chairman/Ward Commissioner/City Corporation) or Trade Associations required only in case of high risk customers.
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Account Nominee |
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- Multiple nominees are allowed as decided by the account holder(s) for each account.
- Nomination will be cancelled if nominee(s) dies in the life time of account holder(s). The account holder(s) in such cases will advise in writing to appoint new nominee(s).
- In case of minor nominee(s), a legal guardian is also required with Photo graph and photo ID.
- Account holder(s), with written instruction, may change the nominee(s) any time.
- In the event of account holder’s death, the nominee will not be allowed to continue the account and the amount deposited prior to the death of account holder(s) shall be paid to the nominee(s).
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Debit Card Facility & Transaction Limit |
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- Debit Card is available at the request of the customer. (For Individual, Joint & Proprietorship Concern only).
- The Debit Card needs to be collected from the respective branch (i.e. account opening branch) or it can also be sent to the customer’s desired branch for collection.
- Transaction limits must be supported by the Transaction Profile (TP) declared by the customers.
- The Debit Card annual fee is waived for the 1st year. The Debit Card annual fee (after 1st year) and re-issuance fee will be as per Schedule of Charges (SOC) of MDB.
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Cheque Book Facility |
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- The Cheque Book needs to be collected from the respective branch (i.e. account opening branch) or it can also be sent to the customer’s desired branch for collection.
- The cheque book issuance fee (after 1st cheque book) will be as per Schedule of Charges (SOC) of MDB.
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Internet Banking Facility |
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- Internet Banking Facility (midland online) isn’t MANDATORY for all the accounts under this product. However, customers’ will be pursued to avail the internet banking facility.
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SMS Banking Facility |
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- The SMS banking facility is offered free for 1st year only. After 1st year, the SMS banking fee will be as per Schedule of Charges (SOC) of MDB.
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Account Maintenance Fee |
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Account Closure Fee |
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- Account can be closed at any time by obtaining written instruction from the account holder.
- The account closure fee will be as per Schedule of Charges (SOC) of MDB.
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Other Fees & Charges |
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- Government Excise Duty is applicable.
- The operation of this account is subject to the laws, banking regulations or banking practices that may change from time to time.
- 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 account.
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Other Terms & Conditions |
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- The Bank reserves the right to change the rules/procedures of the product if deemed necessary.
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