Objective

• To help the retired persons, service holders and Non-Resident Bangladeshi for maximization of their wealth by providing a consistent return of their savings.

Tenors

Features

• Minimum deposit amount is BDT50,000.00 (Fifty Thousand) or its multiple.
• BDT 650.00 (Six Hundred Fifty including Tax & Excise Duty) will be paid each month against the deposit of BDT 1.00 lac.
• A Savings Bank account is mandatory for opening PSAP account. Multiple PSAP account can be operated under a SB account.
• The Depositor will be given a deposit receipt which is not transferable.
• All Taxes/Duty/Levy and or any other surcharges presently in force or that may be imposed by the government of Bangladesh (GOB) from time to time will be deducted/recovered from the balance amount under this scheme.
• Deposit will be received on any working day of a month. Payment of benefit shall start after the first month of opening date of the account.
• The amount of benefit shall be automatically transferred in each month to the savings account of the depositor in MBL.
• In case of the account is closed before maturity, benefits paid earlier shall be deducted proportionately from the principal amount after adjusting with the interest applied at savings rate (if any).
• Even if customer lives abroad or remote place, he/she can authorize a person for withdrawing the monthly benefit amount from the Scheme.
• Loan may be granted up to maximum 80% of the forced encashment value on the date of loan processing.
• Savings Interest Rate will be applicable in case of premature encashment after 30 days and before maturity of the PSAP.