An extension of the Trust Kotipoti, this product is designed for non-individuals, such as Govt. /Semi Govt., Private/Public Limited Companies etc. Here, a company or institution can multiply their extra savings each month to Crore figures within their choice of time frame.
The Installment Size, Term and Future Value
| Years | Interest rate | Installment | Maturity value |
|---|---|---|---|
| 3 | 10.00% | 238,000 | 1 Crore |
| 4 | 169,400 | ||
| 5 | 128,500 | ||
| 6 | 101,500 | ||
| 7 | 82,400 | ||
| 8 | 68,200 | ||
| 9 | 57,300 | ||
| 10 | 48,800 |
- Depositor can choose any denomination (mentioned in the above table) of deposit per month at the time of opening the scheme which cannot be changed later on.
- To open this account, the institution must have a Current/SND account with TBL as a linked account from which monthly installment will be auto debited. Cheque will be provided free of charge until the maturity or cancellation of the account.
- Deposit of the monthly installments will start from the day of opening of the scheme and all subsequent installments will be realized from linked CD/SND account on or before 10th of every month.
- In case of irregular payments of the monthly installments, maturity value may vary from actual matured amount.
- OD / loan facility of 90% of the deposited principal after 6 months of the scheme, but minimum amount must not be less than Tk. 500,000/-. Lending rate and applicable charge will be as per TBL policy.
- Nominee for this a/c is not required.
Any institution, Private or Public Limited Companies, Associations, Clubs, Hospitals, Educational Institution of Bangladesh can open this account.
- The deposit of the monthly installments will start from the day of opening of TKP and all subsequent installments will be realized from the linked CD/SND account on or before the 10th day of each month.
- If sufficient balance (full value of installment) is not available in the corresponding account of the institution for realizing monthly installment in time, the institution will have to pay the Late Payment Charge for TKP @ 12.00% p.a. ( i.e. 1.00% per month) of the failed installment amount.
- In case of irregular payments of monthly installments of this scheme, maturity value of TKP may vary from the actual matured amount.
- In case of premature encashment, following rules will be applicable
- If encashed before 12 months, no interest will be paid.
- If encashed after 12 months and before maturity, interest will be paid as per prevailing saving account rate following rules of savings account.
