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Foreign Currency (FC) Deposit Scheme
You can easily repatriate your saving in full, deposited in mercantile bank foreign currency (FC) Deposit schemes. Your income from mercantile bank foreign currency (FC) Deposit schemes is fully tax –free.
1. Private Foreign Currency (FC) Deposit Account
This is a saving A/c in which you can avert the risk/threat of exchange loss as this account is maintained in FC i.e. in USD, Euro GBP etc.
You can earn attractive interest in this account
You can withdraw money from this account at any time you wish
Presence of accountholder is not mandatory for opening this type of account.
If the accountholder wishes he/she can open the account by sending the necessary documents from abroad.
We are trustworthy to all our customers and your hard-earned money is safe with us.
Rate of interest for Foreign Currency (FC) deposit account is as under:
Currency Rate of Interest Equivalent(Approx.)
USD ECDR*+1.50% to 3.00%p.a. 2.00% to 3.50% p.a.
GBP ECDR+1.00% to 1.75%p.a. 1.50% to 2.25%p.a.
Euro ECDR+1.00% to 1.50%p.a. 1.50% to 2.00%p.a.
Higher interest will be offered for balance of USD 25,000.00 (or equivalent foreign currency) or higher. You can earn attractive rate even you maintain an average deposit of USD 1,000.00 (or equivalent foreign currency) or higher.
*ECDR stands for Eurocurrency Deposit rate.
2. Non-resident foreign Currency Deposit (NFCD) Account
You can deposit foreign currency for a term of 01/03/06/12 months and earn highly attractive interest on your deposit
Interest will be compounded automatically if you do not withdraw your fund after maturity
You can withdraw interest on maturity
Presence of accountholder is not mandatory for opening this type of account
If the accountholder wishes he/she can open the account by sending the necessary documents from abroad or after returning home (even returning permanently)
Rate of interest NFCD A/C is as under:
Currency Rate of interest Equivalent (Approx.)
USD ECDR*+2.50% to 3050%p.a. 3.00% to 4.00%p.a.
GBP ECDR+1.00% to 2.00% p.a. 1.50% to 2.50% p.a.
Euro ECDR+1.00% to 1.75% p.a. 1.50% to 2.25% p.a.
The higher interest may be offered if minimum deposit is USD 25,000.00 or equivalent foreign currency.
*ECDR stands for Eurocurrency Deposit rats.
**** Attractive rate may be offered for deposit of USD 1.00 million or more.
Persons/concerns eligible for opening private FC and NFCD accounts
Bangladeshi nationals working/residing abroad, foreign nationals residing abroad or in Bangladesh, foreign missions and their expatriate employees, foreign firms registered abroad and operating in Bangladesh or abroad and Bangladesh nationals working in foreign/international organization in Bangladesh with entitlement to receive salary in foreign currency may open private FC account with our branches in Bangladesh.
Bangladesh nationals proceeding abroad as employee / migration / self-employment
Documents required for private FC and NFCD account
Account opening form & signature card filled in and signed by the account holder,
Know your customer (KYC) form duly filled in,
Copy of passport/National ID/ Driving license etc.,
Photograph 02 copies of A/c holder
Photograph of nominees of the account duly attested by the A/C holder etc.
For any query you may please contact:
Mr. Jude mark rozario
CEO & Manager
Mercantile exchange House (UK) Ltd
London branch
108 whitechapel Rd
London E1 1JE, UK
Tel: +4420-3638-1919
Fax: +4420-3638-1919
Call: +4477-3870-4863
E-mail: mercantileexchangelondon@mblbd.com
Judemark@mblbd.com

You may also contact Mercantile Bank limited head office as below:

Mr. SHamim ahmed
Executive vice president and head of International division
Mercantile Bank limited
Head office, Dhaka
Tel: +880-2-9560662, +880-2-9559333 Ext- 119, 135
Call No. +880-(0)-1711535947
Fax: +880-2-9554526
E-mail: id.fc@mblbd.com
SWIFT:MBLBBDDH
ww.mblbd.com
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