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Millionaire Deposit Scheme (MDS) Account
Millionaire Deposit Scheme (MDS) Account is a time specified monthly deposit scheme for clients where the deposited money will become one million on maturity.
Features and Benefits
Tenor: 4,5,6,7,8,9 and 10 years term;
Deposit on monthly installment basis;
Attractive rate of interest;
Account can be opened at any working day of the month;
Monthly installment can be deposited through a standing debit instruction from the designated CD/SB Account;
Monthly installment can be deposited in advance;
An account can be transferred from one branch to another branch of the bank;
Credit facility for maximum of 2 years can be availed at any time during the period of the scheme;
Allowed to open more than one MDS Account for different amount at any branch of the Bank;
Eligibility
MDS Account can be opened both for Individual and Corporate bodies.
Only Resident Bangladeshi National is allowed to open MDS Account.
Age bar for opening of Personal MDS Account: 18 years or above.
Single/Joint account can be opened.
Account can be opened in the name of minor. In that case his/her legal guardian will operate the account.
Requirements
Applicants must satisfy the following documentation requirements:
Photocopy of Citizenship Certificate / Passport/ National I.D. Card / Driving License.
Two copies of recent passport size photograph duly attested by the introducer.
Certified document(s) for source of income.
TIN Certificate.
Cheque on Self or Cash deposit;
Single/Joint A/C can be opened.
Fees and Charges: As per existing schedule of charges which is separately displayed/shown in web site.
Rates for Millionaire Deposit Scheme (MDS):
Period of Deposit Monthly Installment Payment After Maturity Monthly Interest/Profit Rate Rate of Interest/Profit
(Per Annum)
4 18,090 1,000,000 6.7960% 7.00%
5 13,967 1,000,000 6.7958% 7.00%
6 11,228 1,000,000 6.8038% 7.00%
7 9,281 1,000,000 6.8073% 7.00%
8 7,829 1,000,000 6.8048% 7.00%
9 6,706 1,000,000 6.8088% 7.00%
10 5,813 1,000,000 6.8152% 7.00%
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