Uttaran Probashi Deposit Scheme

Uttara Abnk PLC. opened “Uttaran Probashi Deposit Scheme” in our Bank to attract new depositors as well as existing depositors. The features of the above deposit product are as follows.

 

Customer eligibility    :    Any adult Bangladeshi citizen working abroad or going to abroad may open one or more account(s) singly/jointly.

 

Account Opening    :    All Branches/Sub Branches of Uttara Bank PLC. can open this scheme account in Taka for Non-Resident Bangladeshi only.

 

Mode of deposit    :     Cash/Transfer In case of transfer, monthly installment amount may be realized from the customer’s personal savings/Current/Foreign Currency Account (FCA) of Uttara Bank PLC. as per customer’s standing instruction.  

 

Tenor of Scheme    :    3/5/7/10 years.

 

Choice of account holder(s)    :    Account holder(s) will have to choose his/her/their installment amount from the following table.

 

        

 *The payable amount might be changed; Govt. Tax/Duty would be paid by the client.

Schedule of deposit          :

 

a) First installment to be deposited at the time of account opening and rest of the monthly installments to be deposited on or before the 10th day of each month, failing which penal interest will be imposed @ 1 % per month on installment amount or minimum Tk.50 per month for each irregular installment(s). If the 10th day of any month becomes govt. holiday, account holder(s) will deposit on the following working day without penalty. Installment(s) in advance may be allowed.
 b) Account will be closed, if account holder(s) fails to deposit 3 (three) consecutive installments.

 

Nominee    :    According to Section 103 of Bank Company Act-1991, account holder(s) must nominate his/her/their nominee(s). Account holder(s) may change his/her/their nominee(s) at any time.

 

Required documents    :    

a)    Bank prescribed account opening form dully filled up.
b)    2(Two) passport size photographs of the applicant.
c)    Copy of passport with valid visa, work permit and salary certificate or any proof of residence (other than salaried person).
d)    (One) copy of passport size photograph & photocopy of NID/Passport/ Birth Registration Certificate (BRC) of Nominee(s).
e)    Copy of valid photo ID of the applicant (i.e. photocopy of passport (6 pages) with due attestation).
f)    Entry Visa with due attestation (if it is any other language other than English, translation is required).
 

Charges    :    

a)    Bank will deduct applicable charges from the A/C as per schedule of charges.
b)    All charges i.e. source tax; excise duty etc. will be deducted from the maturity amount as per govt. rule

 

Mandatory Rules    :    Money Laundering Prevention Act-2012 (and all its amendments thereafter), Anti-Terrorist Act-2009 (and all its amendments thereafter) and Bank Company Act-1991 & 2013 (and all its amendments thereafter) will be applicable.

 

Special Instruction    :    Customer(s) will inform the bank in writing if any changes of Customer’s data i.e. address, phone number, etc. without delay.  

 

Special Notice     :    Bank Authority has the right to change any terms and conditions related to the account at any time and account holder(s) will have to abide by.

 

Transfer of account    :    Account may be transferred to any branch at the request of account holder(s).

Loan facility    :    Loan facility may be availed up to 80% of total deposited amount.

Maturity    :    Account will be considered as matured when completes its tenor with all instalments.

Mode of payment on maturity    :    

a. Branches may pay the maturity value to the customer’s account/nominee’s as per customer’s declaration and instruction. 
b. AD’s may take necessary steps for the payment of maturity value of the scheme (if the customer wants to return his/her scheme’s maturity amount abroad)

 

Premature encashment    :    

a) No interest will be paid in the account for less than one year.
b) Interest will be paid at prevailing SB rate for one year and above but less than 3 years.
c) Interest will be paid at prevailing SB rate+1% for 3 years and above.

Cheque Book    :    No Cheque Book will be issued against the account.