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| Retail Banking » Recurring Deposits » Pubali Pension Scheme (PPS) |
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| Pubali Pension Scheme (PPS) |
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| Customer Eligibility |
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Adult Individual |
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| Account Opening Procedure |
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Prescribed application form |
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Photograph of Account holder is required |
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Photograph of the nominee(s) is/are required |
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Specimen Signature required |
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| Introducer |
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Required |
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| Joint Account Concept |
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Joint Account allowed |
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| Duration |
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3/5/7/10 Years |
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| Deposit Amount |
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Tk. 100/200/300/400/500/1000/2000/3000/5000/7000
/10000/15000 |
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| Deposit Date |
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1st to 12th day of each month. |
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| Interest Rate and Type |
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Initially it was 7.00, 8.00, 8.50, 9.00% based on duration. It may change time to time |
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It is compound in type |
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| Loan facilities |
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Period of A/C: At least 2 years |
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Loan Limit: 80% of total Deposit Amount |
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Loan Period: 2 years or within least period of Maturity |
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Loan Type: Demand Loan |
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Interest Rate(%): PSP rate+2% |
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Installment : Monthly Basis or Single |
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| Premature Interest Rate/Encashment |
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Allowed subject to following interest rate: |
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- Before 1 year - No interest and no penalty. |
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- After 1 year to before 3 years – SB interest rate. |
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- After 3 years before maturity – 5% simple interest. It may change time to time. No interest for fraction days |
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- After 5 years before maturity – 6% simple interest. It may change time to time. |
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- After 7 years before maturity – 7% simple interest. It may change time to time. |
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- No interest for fraction days. No interest for remaining days. |
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| Pension Payment Period |
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10 Years |
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| Pension Amount |
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Depend on installment size |
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| Pay off expire depositor's pension |
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if nominee is absent, Heir can withdraw Tk. 5000/- by indemnity bond without succession certificate |
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| Source Tax, Excise Duty, Incidental/Account Maintenance Fee and Other Charge |
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Source Tax for interest earned (if has TIN 10% or without TIN 15%) at the time of interest payment. |
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Excise Duty (charges) collected on yearly on Maximum credit Balance. |
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| Closing Procedure |
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Account is temporary closed if at a time 6 month Due after 2yr OR > 1yr < 3yr at a time 3 month due |
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Account is automatically closed if at a time 7 month Due after 2yr OR > 1yr < 3yr at a time 4 month due |
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| Withdrawal Procedure |
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Single or Monthly Pension Basis |
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| For any query please Contact at: Tel: (PABX) 02223381614 FAX: 880-2-9564009 or e-mail us at gsdd@pubalibankbd.com |
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