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
  • All MDB branches
Minimum initial deposit amount
  • Tk 10,000/
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
  • Debit card is mandatory
Cheque Book
  • Branch will issue cheque book against the account.
Account Maintenance Fee
  • Tk. 300 + VAT (Half Yearly)
Account Closure Fee
  • Tk. 300 + VAT
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
  • All MDB branches
Minimum initial deposit amount
  • Tk 2,000/
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 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
  • Tk.200 + VAT
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
  • All MDB branches
Minimum initial deposit amount
  • Tk 2,000/
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
  • Debit card is mandatory
Cheque Book
  • No cheque book will be issued against the account
Account Maintenance Fee
  • Waiver of account maintenance fee
Account Closure Fee
  • Tk.200 + VAT
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
  • As per NBR circular

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 he/she get no interest of the deposited amount.

MDB DOUBLE BENEFIT


The deposit amount will be doubled after 08 years 03 months..

Title Details
Short Description The deposit amount will be doubled after 08 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 08 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 08 years 03 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.

MDB FAMILY SUPPORT


Customer will be given BDT 625.00 (before Tax) per month for BDT 1,00,000.00.





Title Details
Tenure Minimum 02 years (Renewable)
Amount to be deposited BDT 1,00,000.00 and its multiples.
Benefit Depositor will get BDT 625.00 (before TAX) each month proportion to his/her deposit during the entire.
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 10% AIT will be deducted from each month's benefit subject to production of TIN Certificate; otherwise 15% will be deducted from each month's benefit
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 as per Savings Bank A/c interest rate.
Highest Amount BDT 50.00 Lac

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
  • No initial deposit is required.
  • 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.
  • 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.
  • No debit card Fee for 1st year
  • Late fees @ 2% of installment amount or BDT 200.00 whichever is higher will be charged per month for failure to deposit the instalment in time.
  • 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
    • No initial deposit is required.
    • 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
    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.
    • No debit card Fee for 1st year
    • Late fees @ 2% of installment amount or BDT 200.00 whichever is higher will be charged per month for failure to deposit the instalment in time.
    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
    • No initial deposit is required.
    • 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.
    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.
    • No debit card Fee for 1st year
    • Late fees @ 2% of installment amount or BDT 200.00 whichever is higher will be charged per month for failure to deposit the instalment in time.
    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
    • No initial deposit is required.
    • 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.
    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.
    • No debit card Fee for 1st year
    • Late fees @ 2% of installment amount or BDT 200.00 whichever is higher will be charged per month for failure to deposit the instalment in time.
    Credit Facility
    • No credit facility shall be offered against the facility.