Mudaraba Monthly Saving Scheme (MMSS) is a mode of deposit under Mudaraba principles of Islamic Shariah. It is a monthly deposit scheme with option to deposit any amount multiple of BDT500. IT can be opened for 5 years, 8 years, 10 years & 12 years tenure.
- This deposit product is guided by the Mudaraba principles of Islamic shariah.
- Until otherwise decided, the profit sharing ratio is 65:35 between Client & the bank.
- Actual profit on the MMSS will be calculated at the day ended on the basis of weightage fixed by the bank.
- Bank will invest the MMSS fund through shariah compliant investment modes along with the other Mudaraba fund to earn profit.
- All Govt. Taxes, VAT, Excise duty etc imposed by the regulatory bodies time to time including management charges are applicable on MMSS.
- MMSS can be opened for 3 years, 5 years, 8 years, 10 years & 12 years tenure or for any other tenure as approved by the bank.
- No profit shall be payable if the MMSS is encashed before maturity. However, bank reserve the right to pay profit on the deposit amount at the rate of provisional Mudaraba Savings Deposits.
- Present Provisional Profit rate for MMSS is 6.00% p.a.
|
Inst. |
Prov. Profit Rate |
Tenor (Estimated Maturity Value) |
||||
|
3 Yr. |
5 Yr. |
8 Yr. |
10 Yr. |
12 Yr. |
||
|
500 |
6.00% p.a. |
19,722 |
34,922 |
61,315 |
81,655 |
104,509 |
|
1,000 |
39,445 |
69,844 |
122,630 |
163,310 |
209,019 |
|
|
2,000 |
78,890 |
139,687 |
245,259 |
326,620 |
418,037 |
|
|
5,000 |
197,224 |
349,218 |
613,148 |
816,550 |
1,045,093 |
|
*Client can open account for any amount multiple of BDT 500
Any Person (individual/joint) is eligible to open the account.
- National ID Card/Passport/Chairman certificate for A/C Holder and Nominee.
- 03 Passport size photographs of account holder duly attested by introducer
- 1 photograph of nominee duly attested by the account holder
