এবি ব্যাংক
মুনাফা প্রথম ডিপোজিট

আবেদন করুন

Profit First Deposit

 

What is “Profit First”?

This is a fixed deposit product which will enable the clients to take the interest of the
intended period at the beginning of the tenure. Highest tenure of the product will be 1 year. This will
be a non-cheque account.

Tenor?

Customer can open the account for 03(three)/ 06(six)/ 12 (twelve) months

Profit rate?
  • 3 months (0.50% lower than band rate of 8.00% (Currently 7.50% with effective rate 7.64%)
  • 6 months (0.50% lower than band rate of 9.50% (Currently 9.00% with effective rate 9.41%)
  • 12 months (1% lower than band rate of 10.00% (Currently 9.00% with effective rate 9.81%)
  • However, rate will be varied based on ALCO decision.
What is Special of this Account?
  • Receive profit at the time of opening the account
  • Support emergency fund requirement
  • 12 months (1% lower than band rate of 10.00% (Currently 9.00% with effective rate 9.81%)
  • Client will feel comfort with profit in advance
Renewal?

Allowed, but client (individual and non-individual) will have to maintain link CASA account.

Option of Auto Renewal?

The process will be completed manually as CBS has no auto renewal option for this product.

Who are eligible?

Any individual or Company either in single or in Joint name ( proprietor/ partnership farm/
limited liability company) including the existing clients of the Bank.

Age Limit

It can be opened by all including minors.

Minimum deposit amount
  • Individual: Tk.100,000
  • Non Individual: Tk.1,000,000
Maximum Amount

No ceiling

Link account mandatory?
  • Individual including Partnership & Proprietorship: Mandatory
  • Non Individual: Optional
Client disagreed to open CASA account as he intends to park the profit into account of his
1st Blood or any other accounts?

No

Meaning of Munafa, Profit and Interest

All are same

Tax and Excise Duty?
  • Excise Duty: On Maturity
  • Tax: Immediately on payment of profit.
Loan against Profit First?

Loan facility up to 70% of the deposited amount, however, if a client failed to repay 3
installments or interest for 2 quarter the loan will be adjusted encashing the instrument.

Nomination

Existing nomination policy will be applicable

Premature encashment

Rate: Generic Savings rate for any unbroken period of 1 month.

Tax: Deducted tax is not refundable.

Tax on Manual Calculation: No tax to be deducted on the amount paid on Instrument value @ generic savings.

Procedure: The Branch will have to cancel the Deal and the overall entries will be reversed

Effect of Cancelation Branch Activities (AGI posting)
Customer A/c Internal A/c Customer A/c Internal A/c
Principal Cr Dr
Interest Dr Cr Cr (as per savings rate) Dr
Tax Cr Dr(reversal Entry) Dr Cr
GED Dr (as per savings rate) Cr
Death of account holder
  • Nominee will be entitled with the benefit, otherwise, succession certificate will be required.
  • Procedure of Pre-matured encashment will be followed.
Account Opening Form
  • Existing FDR Form will be used to open Profit First Account.
  • Terms and Condition affixed in the email will be signed in addition to the existing Terms and Condition,
  • however, this will be incorporated in the form at the time of reprinting.
Customer Instrument
  • Existing FDR blocks will be used. Branch will keep a certain serial number for Profit First.
  • Before instrument number the Branch will write “Profit First”

 

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