Uttaran Labonya Deposit Scheme

Uttara Bank PLC. opened a new deposit product, “Uttaran Labonya Deposit Scheme” in our bank to attract new and existing depositors. The features of the above deposit products are as follows:

Customer eligibility    :    Any adult Bangladeshi woman may open one or more account(s) singly/jointly.

Mode of deposit    :     Cash/Transfer.
-    In case of transfer, monthly instalment amount may be realized from the customer’s personal savings/current account 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 her/their installment amount from the following table:
 

   

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

Interest Rate: 10.25% per annum (at simple).
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 her/their nominee(s). Account holder(s) may change her/their nominee(s) at any time.

Required documents    :    

a)    2(Two) copies of recent passport size photographs of the applicant(s).
b)    photocopy of NID/Passport/Birth Registration Certificate (BRC) & TIN Certificate (if any) of the Applicant(s).
c)    1 (One) copy of passport size photograph & photocopy of NID/Passport/ Birth Registration Certificate (BRC) of Nominee(s).

Charges    :    

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

Mandatory Rules: The 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) has/have to 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.

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.