This is a monthly benefit deposit scheme for non-individuals, such as Govt. /Semi Govt., Private/Public Limited Companies etc. Here a company or institution can save their fund and earn competitive interest on their valued fund each month for a chosen frame of tenure
|
Tenor |
Interest Rate |
Monthly Interest per Lac |
|
1, 2 & 3 yrs |
9.50% |
Tk. 791.66/- |
- Minimum principal amount Tk. 500,000 (Taka Five Lac Only) with no upper limit.
- Time frame of 1,2 or 3 years
- Payment of monthly profit shall start from the subsequent month after clear a minimum gap of 30 days from date of deposit.
- Auto renew facility
- OD facility up to 85% of the value of the deposit
- Nominee not required
- All payments, principal & interest, shall be paid to the specified deposit account or through PO as per demand of the client
- The Receipt will not be transferable.
- Excise Duty and TDS (Tax Deducted at Source), (if any) will be deducted as per Govt. rules.
The below Maturity Value Table shows the different installment amounts on available tenures:
| Tenor | Monthly Interest Per Lac (Before Tax) |
|---|---|
| 1,2 & 3 yrs | TK.541.67/- |
Can be opened by Govt/Semi Govt organization to save their funds, PF or any other Contributory Fund; Corporate bodies, Private/Public Limited companies; Associations, Clubs; Hospitals; Educational Institutions, NGOs etc.
- Under this scheme, minimum principal amount is Tk. 500,000 (Taka Five Lac Only). There is no upper limit.
- Trust Echo Plus must be kept for a term of 1 year (12 Months)/ 2 Years (24 Months) / 3 years (36 Months).
- Payment of monthly profit shall start from the subsequent month after a clear minimum gap of 30 days from date of deposit.
- All payments, principal & interest, shall be paid to the specified deposit account or through PO as per demand of the client.
- TDS (Tax Deducted at Source), (if any) will be deducted as per Income Tax Rules.
- The Receipt will not be transferable.
- Unless prior written notice is received by the Bank, the Bank will automatically renew the deposit for the same period on the maturity date at the prevailing rate of interest.
- Excise Duty is to be deducted from the interest realized on maturity date or at the time of encashment of Echo Plus as per the existing general FDR rule.
