MBL Prabasi Masik Sanchaya Prokolpo

Masik Sanchaya Prokolpo (MSP) for NRBs is a monthly installment base savings deposit product with flexible long term tenure for individuals who is already living outside of Bangladesh or proceeding abroad for employment. It is the initiative of Bangladesh Bank to encourage NRBs in saving their hard earned income in Bangladesh.

Objectives

  • To facilitate inward wage remittances through banking channel
  • To encourage NRBs in saving their hard earned income in Bangladesh
  • To strengthen financial inclusion program

Eligibility

  • Any Bangladeshi passport holder who is living outside Bangladesh and working there with a valid work permit/resident visa.
  • Any Bangladeshi crew member working in foreign shipping company.
  • Persons who are leaving Bangladesh with a job offer (overseas posting/new job) can open NRB account before leaving Bangladesh.
  • Minimum Age: 18 years

Period & Benefits

Installment Size 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 10000 15000 20000 25000
Tenure  
 1 year  6,289 12,577 18,866 25,155 31,443 37,732 44,021 50,310 56,598 62,887 125,774 188,661 251,548 314,435
 3 Years  21,075 42,150 63,225 84,301 105,376 126,451 147,526 168,601 189,676 210,751 421,503 632,254 843,005 1,053,757
 5 Years  39,556 79,112 118,668 158,224 197,781 237,337 276,893 316,449 356,005 395,561 791,122 1,186,684 1,582,245 1,977,806
 8 Years  76,904 153,807 230,711 307,614 384,518 461,421 538,325 615,228 692,132 769,035 1,538,070 2,307,105 3,076,141 3,845,176
 10 Years  112,041 224,082 336,122 448,163 560,204 672,245 784,285 896,326 1,008,367 1,120,408 2,240,816 3,361,223 4,481,631 5,602,039


Main Features

  • Only Non Resident Bangladeshis (NRBs) may open this account in their own name.
  • Only Individual Customers (single account holder) is entitled to open this account. There is no option to open this account jointly.
  • Tenure: 1 year, 3 years, 5 years, 8 years and 10 years.
  • Monthly Installment: BDT 500, 1000, 1500, 2000, 2500, 5000 and in multiples of 5000 up to BDT 25000.
  • Interest Rate offered to Customers is 7% for 1 year and 7.25% for rest of the tenures.
  • The account will be matured after completing specified years (1/3/5/8/10) on the same date as it was opened.
  • Loan facilities (in taka) may be granted up to maximum 80% of the deposited amount (minimum amount Tk. 10,000).

Document Required

  • Two copies of recent passport size photographs of NRBs (duly attested).
  • Copy of passport size photograph of each nominee(s) attested by the NRB Account Holder (s).
  • Copy of Passport, Visa, work permit and salary certificate of NRB(s).
  • Documents regarding income source(s) of the Account Holder (s).
  • Copy of NID/Passport of each Nominee(s).
  • Copy of Utility Bill (Electricity Bill/ Land Phone bill/ Cell Phone Bill/ Gas Bill/ WASA Bill) in the name of applicants to identify present Address.
  • Copy of e-TIN Certificate of the Account Holder (s) (if any).

 

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