When you opt for the Cumulative Deposit with BDF, the Scheme aims to increase your savings into a higher average rate of return. The interest will be accumulated with the principal amount at the end of each year resulting in profit calculation on a higher amount the next year. This is an ideal product if you plan to invest for longer term.
Product Feature
- Profit compounding at the end of each year
- Option to make Double/Triple money within short period
- Available at both fixed and variable rate option
- Up to 80% quick loan facility against principal amount
- Embedded auto renewal facility
- Deposit tenure is 12, 24, 36, 48, 60 months
- Minimum deposit amount of BDT 25,000
Eligibility
- Minimum Age: 18 years
- Citizen of Bangladesh
Privilege offer
Senior Citizens and Home Loan customers are eligible for preferential rate over the prevalent rate.
Requirements
- Recent Passport size photograph of A/C Holder and Nominee
- Photograph of Nominee has to be duly attached by the account holder
- Photocopy of NID/Passport/Driving License of A/C Holder and Nominee
- TIN Certificate of A/C Holder ( IF available)
- Download the MDS Form/ Collect the Form from your nearest BD Finance Branch
- Provide completed Account Opening Form with all required documents.
- Pay your opening amount by BEFTN/Cheque/Pay order in favor of “Bangladesh Finance And Investment Co. Limited” and provide payment details to nearest BD finance Branch.
- Once your Payment has been cleared, an MDS account opening receipt will be issued to your name for delivery or pick up.
| INCOME TAX DEDUCTED AT SOURCE |
Deduction Rate (on interest) |
| If E-TIN is Submitted | 10.00% |
| If E-TIN is Not Submitted | 15.00% |
| EXCISE DUTY YEARLY PER ACCOUNT | Duty Amount |
| Balance up to Tk.1 Lac | N/A |
| Balance above Tk.1 Lac but not more than Tk. 5 Lac | Tk.150.00 |
| Balance above Tk.5 Lac but not more than Tk. 10 Lac | Tk.500.00 |
| Balance above Tk.10 Lac but not more than Tk. 1 Crore | Tk.2,500.00 |
| Balance above Tk.1 Crore but not more than Tk. 5 Crore | Tk.12,000.00 |
| Balance above Tk. 5 Crore | Tk.25,000.00 |