"Child's Education Care & Maturity Deposit Account" Scheme


This is a benevolent scheme to serve the genuine needs for education of the children of a depositor. The scheme will serve as a long term source of deposit for the bank also.

The salient feature of the scheme are as under:
 
 1. Eligibility    :

The deposit account is to be opened in the name of children of 4 to 8 years old admitted in any school in Bangladesh.
 2. Operation of      the account : The account will be operated by the parents/legal guardian of the children till maturity of the account i.e. 15 years from opening of the account.
 3.Tenure/Maturity     period of the     account: 15 (fifteen) years from the date of opening.
 4. Installment of      monthly deposit : Tk.500/-, Tk.1,000/-, Tk.1,500/-, Tk.2,000/-, Tk.2,500/-, Tk. 3,000/-, Tk.3,500/-, or Tk.4,000/-
 5. Date of deposit     of the monthly     installment : Within 1st to 10th of each month.
 6. Rate of interest : @ Tk. 12.00% PA (simple applicable yearly on days product).
 7. Withdrawal of     interest :

Interest credited to the account can be withdrawn by the depositor to meet the Educational Expenses of their children (No compound interest is payable on the account whether interest is withdrawn or not).
 8. Bonus :

Bonus @ Tk.5,000/-, Tk.10,000/-, Tk.15,000/-, Tk.20,000/-, Tk.25,000/-, Tk.30,000/-, Tk.35,000/- is payable to the account provided the monthly installments of Tk.1,000, Tk.1,500/-, Tk.2,000/-, Tk.2,500/-, Tk.3,000/-, Tk.3,500/- and Tk.4,000/- respectively are deposited in time up to the maturity period without fail.