Overview Of Private Banks For Savings Accounts in Bangladesh

Savings Account is a dependable, profitable, and convenient way to manipulate your recurring cash subjects effectively. 

One of the basic rules of the universe is that nothing is perfect. Perfection simply doesn’t exist… without imperfection, neither you nor I would exist._Stephen Hawking.

Because of some recent political decisions and the financial imbalance of Bangladesh, it is quite difficult to put your money in a safe hand. People have lost their faiths in banks rather they would prefer to keep the money on their own. In this critical situation, there are still some banks in Bangladesh, and they are serving to have this motto on their mind that they are of the people for the people by the people. In this article, we are going to demonstrate the 10Best private banks for savings accounts in Bangladesh.

Supersize Your Wealth With HSBC

HSBC-Hong Kong Shanghai Banking Corporation company is an international bank and money agency with its headquarters in London. it has branches all across the world. The Savings Account policy in HSBC is trustworthy, customer-friendly, and convenient in the market. Afterward, you will get a brief description to go with HSBC for your savings account in the process.

*You need to keep a minimum balance of BDT 100,000 in your account to get the daily interest.

Features:

  • No ledger fees required
  • Limitless transaction facilities with no charge and no loss on earning interest 
  • Accessing your Savings Account via ATM 24/7
    Daily basis interest calculation facility which will be credited to your account every 6 months
  • Personalized checkbook

Compulsory Documents:

  • Completed account opening form.
  •  Passport size photograph for each account holder.
  •  Proof of identification such as passport, driving license, or voter’s ID.

Please contact any of our branches or our Call Centre for more complete guidance.

 

With the following guidelines, you will be able to avail of the incredible Savings Account facility on your way of maintaining money matters effectively with HSBC.

Pump up Your Wealth With Islami Bank Bangladesh Ltd

Islami Bank Bangladesh Limited was founded in 1983. As It was the first Islamic bank in Southeast Asia, providing a variety of economic banking services that supported Islamic Shari’ah law. With 332 branches, it owns the biggest branch network among the non-public sector banks in Bangladesh.

IBBL is providing Savings Account service in the name of Mudaraba Savings Account (MSA) according to the guideline of Islamic shari’ah law. As it is one of the leading commercial banks in Bangladesh, subsequently you will learn the way of going with IBBL for Savings Account in the process.

Features:

Mudaraba’s savings account is opened under the Mudaraba principle of Islami Shariah. Under the above principle, the clients are the Shaheb-Al-Mal and the Bank is Mudarib. Mudaraba Saving’s accounts are mainly meant for Non-Trading customers who have some potential savings with a small number of transactions taking place. More than one person can open and operate a Mudaraba savings account. A guardian on behalf of a minor can open a Mudaraba Savings A/C. In which case, a declaration stating the date of birth of the minor should be obtained from the guardian.

 

Compulsory Documents:

  • Complete account opening form
  • 02 copies passport size photographs of account holder duly attested by introducer
  • 1 copy photograph of nominee duly attested by the account holder
  • Identification proof like National ID Card/Passport/Chairman certificate
  • Initial deposit Tk.500/-
  • Introducer signature

With the following guidelines, you will be able to avail of the incredible Mudaraba Savings Account (MSA) facility on your way of maintaining money matters effectively with IBBL.

Accelerate Your Wealth with Standard Chartered Bank

While Standard hires PLC, it’s a British transnational banking and cash offerings company, headquartered in London. They are increasing their business everywhere on the international surface and it has 87,000 employees who are working on more than 1200 branches in 70 countries including Bangladesh. This is due to the fact it’s one of the pleasant banks in Bangladesh. SCB Bangladesh is offering you 4 types of savings account and you will know all of those subsequently through this article. All the four types of savings account come with Super with all benefits of a savings account having full transactional convenience.
Super Savers Account:

FEATURES

 

Minimum Balance Interest Debit Card Bill Payment
Maintain a minimum balance of BDT 100,000 Interest will be accrued on the monthly average balance and applied at each quarter-end. You will be provided a debit card for ATM & POS transactions. Make utility Bill Payment through auto bills pay and online banking.

 

Fees & Charges:

FEES CHARGES
Account Maintenance Fee Half-yearly average balance:

  • Up to Tk. 10,000 – Free
  •  Above Tk. 10,000 up to Tk. 25,000 – Tk. 100 on a half-yearly basis
  • Above Tk. 25,000 up to Tk. 200,000 – Tk. 200 on a half-yearly basis
  • Above Tk. 200,000 up to Tk. 1,000,000 – Tk. 250 on a half-yearly basis
  • Above Tk. 1,000,000 – Tk. 300 on a half-yearly basis
Counter Transaction Fee Free
Debit Card Annual Fee BDT 600

 

*VAT is applicable @15% on all fees & commissions

Eligibility & Documents:

ELIGIBILITY DOCUMENTS
*Nationality

  • Applicant must be a Bangladeshi Citizen 

*Age

  • For Below 18, a Minor Account will be opened.
*You will need

  • Copy of valid Photo ID for Applicant and Nominee (such as Passport/National ID/Driving License, etc.)
  • Photograph of the applicant duly attested by the introducer
  • Photograph of the nominee duly attested by the applicant
  • Copy of e-TIN Certificate
  • Resident address verification document (e.g. Utility Bill, etc.)

*For Salaried

  • Proof of Income document (e.g. Letter of Introduction/Appointment letter/Salary Certificate/Bank Statement reflecting salary, etc.)
  • Proof of occupation document (e.g. Employment contract/Business Card/employee photo ID, etc.)

*For Self-employed

  • Proof of Income document (e.g. Bank Statement/Companies Audited Financial report/ Tax Return Acknowledgment Receipt with monetary indication, etc.)
  • Proof of occupation document (e.g. Trade License/Partnership deed/Certificate of incorporation/Memorandum of Articles/BMDC/BEI Registration/Bar license/Chartered Accountant license as appropriate)

Super Savers Premium Account

FEATURES

 

Initial Opening Balance Monthly Average Balance Interest Debit Card Bill Payment
Initial Opening Balance with BDT 100,000 Maintain a monthly average balance of  Interest will be accrued on the monthly average balance and applied at each quarter-end. You will be provided a debit card for ATM & POS transactions. Make utility Bill Payment through auto bills pay and online banking.

Fees & Charges:

FEES CHARGES
Account Maintenance Fee Half-yearly average balance:

  • Up to Tk. 10,000 – Free
  •  Above Tk. 10,000 up to Tk. 25,000 – Tk. 100 on a half-yearly basis
  • Above Tk. 25,000 up to Tk. 200,000 – Tk. 200 on a half-yearly basis
  • Above Tk. 200,000 up to Tk. 1,000,000 – Tk. 250 on a half-yearly basis
  • Above Tk. 1,000,000 – Tk. 300 on a half-yearly basis
Counter Transaction Fee Free
Debit Card Annual Fee BDT 600

 

*VAT is applicable @15% on all fees & commissions

Eligibility & Documents:

ELIGIBILITY DOCUMENTS
*Nationality

  • Applicant must be a Bangladeshi Citizen 

*Age

  • For Below 18, a Minor Account will be opened.
*You will need

  • Copy of valid Photo ID for Applicant and Nominee (such as Passport/National ID/Driving License, etc.)
  • Photograph of the applicant duly attested by the introducer
  • Photograph of the nominee duly attested by the applicant
  • Copy of e-TIN Certificate
  • Resident address verification document (e.g. Utility Bill, etc.)

*For Salaried

  • Proof of Income document (e.g. Letter of Introduction/Appointment letter/Salary Certificate/Bank Statement reflecting salary, etc.)
  • Proof of occupation document (e.g. Employment contract/Business Card/employee photo ID, etc.)

*For Self-employed

  • Proof of Income document (e.g. Bank Statement/Companies Audited Financial report/ Tax Return Acknowledgment Receipt with monetary indication, etc.)
  • Proof of occupation document (e.g. Trade License/Partnership deed/Certificate of incorporation/Memorandum of Articles/BMDC/BEI Registration/Bar license/Chartered Accountant license as appropriate)

 

Super Savers Premium Account

FEATURES

 

Initial Opening Balance Monthly Average Balance Interest Debit Card Bill Payment
Initial Opening Balance with BDT 100,000 Maintain a monthly average balance of  Interest will be accrued on the monthly average balance and applied at each quarter-end. You will be provided a debit card for ATM & POS transactions. Make utility Bill Payment through auto bills pay and online banking.

 

Fees & Charges:

FEES CHARGES
Account Maintenance Fee Half-yearly average balance:

  • Up to Tk. 10,000 – Free
  • Above Tk. 10,000 up to Tk. 25,000 – Tk. 100 on a half-yearly basis
  •  Above Tk. 25,000 up to Tk. 200,000 – Tk. 200 on a half-yearly basis
  • Above Tk. 200,000 up to Tk. 1,000,000 – Tk. 250 on a half-yearly basis
  • Above Tk. 1,000,000 – Tk. 300 on a half-yearly basis
Counter Transaction Fee Free
Debit Card Annual Fee BDT 600

 

*VAT is applicable @15% on all fees & commissions

Eligibility & Documents:

ELIGIBILITY DOCUMENTS
Nationality

  • Applicant must be a Bangladeshi Citizen

Age

  • Minimum 18 years old
You will need

  • Copy of valid Photo ID for Applicant and Nominee (such as Passport/National ID/Driving License, etc.)
  • Photograph of the applicant duly attested by the introducer
  • Photograph of the nominee duly attested by the applicant
  • Copy of e-TIN Certificate
  • Resident address verification document (e.g. Utility Bill, etc.)

For Salaried

  • Proof of Income document (e.g. Letter of Introduction/Appointment letter/Salary Certificate/Bank Statement reflecting salary, etc.)
  • Proof of occupation document (e.g. Employment contract/Business Card/employee photo ID, etc.)

For Self-employed

  • Proof of Income document (e.g. Bank Statement/Companies Audited Financial report/ Tax Return Acknowledgment Receipt with monetary indication, etc.)
  • Proof of occupation document (e.g. Trade License/Partnership deed/Certificate of incorporation/Memorandum of Articles/BMDC/BEI Registration/Bar license/Chartered Accountant license as appropriate)

 

eSavers Account (a unique Savings Account based on Remote Banking solutions):

 

FEATURES

 

Attractive Interest Rates World Class Alternate Channels   Low Minimum Deposit No Counter Transaction Debit Card Bill Payment
Get attractive interest rates from your e-savers account and watch your savings grow.  Excellence in digital services ensured through 24 hours client center, internet banking, e-statements, ATMs, Billspay Centers, and SMS banking. Your e-Savers account has a minimum balance requirement of just BDT 50,000. Counter transactions at branches are not allowed. Receive a debit card for ATM and POS transactions at only BDT 600+VAT. Make utility bill payments through auto Billspay and online banking.

 

Fees & Charges:

FEES CHARGES
Account Maintenance Fee Half-yearly average balance:

  • Up to Tk. 10,000 – Free
  • Above Tk. 10,000 up to Tk. 25,000 – Tk. 100 on half-yearly basis
  • Above Tk. 25,000 up to Tk. 200,000 – Tk. 200 on half-yearly basis
  •  Above Tk. 200,000 up to Tk. 1,000,000 – Tk. 250 on half-yearly basis
  • Above Tk. 1,000,000 – Tk. 300 on half-yearly basis

Eligibility & Documents:

ELIGIBILITY DOCUMENTS
Nationality

  • Applicant must be a Bangladeshi Citizen

Age

  • Minimum 18 years old
You will need

  • Copy of valid Photo ID for Applicant and Nominee (such as Passport/National ID/Driving License, etc.)
  • Photograph of the applicant duly attested by the introducer
  • Photograph of the nominee duly attested by the applicant
  • Copy of e-TIN Certificate
  • Resident address verification document (e.g. Utility Bill, etc.)

For Salaried

  • Proof of Income document (e.g. Letter of Introduction/Appointment letter/Salary Certificate/Bank Statement reflecting salary, etc.)
  • Proof of occupation document (e.g. Employment contract/Business Card/employee photo ID, etc.)

For Self-employed

  • Proof of Income document (e.g. Bank Statement/Companies Audited Financial report/ Tax Return Acknowledgment Receipt with monetary indication, etc.)
  • Proof of occupation document (e.g. Trade License/Partnership deed/Certificate of incorporation/Memorandum of Articles/BMDC/BEI Registration/Bar license/Chartered Accountant license as appropriate)

 

School Banking Account

FEATURES

 

Interest Deposit Requirement Minimum Balance Account Maintenance
Interest will be earned on a monthly average balance and applied to the account quarterly. No initial deposit requirement. No minimum balance requirement. No account maintenance.

 

Eligibility & Documents:

ELIGIBILITY DOCUMENTS
Nationality

  • Applicant must be a Bangladeshi Citizen

Age

  • Below 18 years of age
  • This is a Minor account opened jointly with Parent/Legal Guardian
Document Requirements

  • Photocopy of Parent’s NID
  • Photograph of the applicant duly attested by the introducer
  • Photocopy of Student’s School ID Card and Birth Certificate
  • Resident address verification document (e.g. Utility Bill, etc.)

Supporting Documents of Legal Guardians who are Salaried

  • Proof of Income document (e.g. Letter of Introduction/ Appointment letter/ Salary Certificate/ Bank Statement reflecting salary, etc.)
  • Proof of occupation document (e.g. Employment contract / Business Card/ employee photo ID, etc.)

Supporting Documents of Legal Guardians who are Businessmen/Self-Employed

  • Proof of Income document (e.g. Bank Statement/ Companies Audited Financial report/ Tax Return Acknowledgment Receipt with monetary indication, etc.)
  • Proof of occupation document (e.g. Trade License/ Partnership deed/ Certificate of incorporation/ Memorandum of Articles/ BMDC /BEI Registration /Bar license/Chartered Accountant license as appropriate)

 

Resident Foreign Currency Deposit Account

Interest Bearing Account Opening Balance Deposit Facility Debit and  Credit card Cheque Book Balance Requirement Maintenance Fee
Interest bearing foreign currency account. The minimum account opening balance is USD 1000 or GBP 500 or equivalent EUR. Multi-Currency deposit facility. International Debit and Credit is available(Only for foreign currency deposit accounts in USD) No Cheque book facility. No Minimum Balance requirement. No Account maintenance fee.

 

Eligibility & Documents:

ELIGIBILITY DOCUMENTS
Nationality

  • Applicant must be a Bangladeshi Citizen

Age

  • Minimum 18 years old
  • Applicant must have a Current/Savings account
Document Requirements (for New to CASA Accounts)

  • Copy of valid Photo ID for Applicant & Nominee (such as Passport/National ID/Driving License, etc.)
  • Photograph of the applicant duly attested by the introducer
  • Photograph of the nominee duly attested by the applicant
  • Copy of e-TIN Certificate
  • Resident address verification document (e.g. Utility Bill, etc.)
  • RFCD Declaration Form
  • Passport (to check the date of arrival during deposit)
  • Foreign Money and Jewellery Form for deposits over USD 10,000 or its equivalent
  • Supporting Documents for Salaried Customers
  • Proof of Income document (e.g. Letter of Introduction/ Appointment letter/ Salary Certificate/ Bank Statement reflecting salary, etc.)
  • Proof of occupation document (e.g. Employment contract / Business Card/ employee photo ID, etc.)

Supporting Documents for Businessman/Self-Employed

  • Proof of Income document (e.g. Bank Statement/ Companies Audited Financial report/ Tax Return Acknowledgment Receipt with monetary indication, etc.)
  • Proof of occupation document (e.g. Trade License/ Partnership deed/ Certificate of incorporation/ Memorandum of Articles/ BMDC /BEI Registration /Bar license/Chartered Accountant license as appropriate)

Expand Your Wealth with Premier Bank Ltd.

The Premier Bank Savings Account will provide you the chance to enjoy your banking process through a simple path. They are offering a competitive interest rate on the outstanding balance. In addition, all account holders get a VISA/MasterCard Debit Card and ATM facility for 24 hours of banking convenience.

 

Features & Benefits Eligibility Document Required
  • An Interest-bearing checking account.
  • Initial Balance Tk: 1000
  • Visa/MasterCard Debit card and 24-hour free access to ATMs.
  • Interest payable on Half Yearly basis.
  • Quick & easy processing
  • Unlimited transactions allowed
  • Online banking facility
  • E-statement of account at a regular frequency
  • Minimum Age: 18 years
  • Citizen of Bangladesh
  • Photograph of A/c holder – 2 copies
  • Photocopy of Valid NID/Passport/Driving License
  • Photograph of Nominee – 1 copy
  • Copy of Utility Bill

Increase Your Wealth with Shahjalal Islami Bank

Shahjalal Islami Bank is providing an amazing Savings Account policy which is attractive, customer-friendly, and convenient as well. Mudaraba Savings Deposit Accounts (Msd) is provided by Shahjalal Islami Bank, you will learn accordingly how it will be benefited on the way of your banking journey.

The minimum amount for MSD:

  • Mudaraba Savings Deposit Account shall be opened with a minimum of Tk.2,000/ which is also the minimum balance required to be maintained by the Account holder for sharing profit on his deposit.
  • The deposit is accepted on the basis of the Mudaraba principle of Islamic Shariah and the fund is invested in accordance with Islamic principles and the Bank will have the right to invest such fund, at its own judgment in any Halal business with the consent of the depositors signing the rules contained on the reverse of the relative AOF.

The number of names under an account:

 Not more than one account should be opened in one name for the same purpose.

Rate of profit:

Profit on Mudaraba Savings Deposit Accounts shall be allowed at the rate as advised by Head Office from time to time under the Mudaraba Principle.

Profit application of:

Profit is to be applied on half-yearly basis i.e. in June & December and Profit shall be accrued in each month.

 

Maximum withdrawals in a week:

  • Maximum withdrawals of Tk.25,000/ from Mudaraba Savings Deposit Account twice a week are admissible.
  • Withdrawals from Mudaraba Savings Deposit Account up to a maximum of 25% of deposits, which should not exceed Tk. 25,000/ in a week. For withdrawals of amounts over the above limit, the customer shall be required to give 7 days’ prior notice in writing. But any amount can be withdrawn on surrender of profit for the month.
  • No profit will be paid in a Mudaraba Savings Deposit Account for the month in which withdrawals have been made more than four times in a month or over 25% of the total deposit and above Tk. 25,000/ without notice.
  • Service charge is applicable as in the case of Al-Wadiah Current Deposit Account and profit may be forfeited from the customers in cases where withdrawal is made more than twice a week or 25% of the deposit as detailed above
  • The Bank at its discretion may realize a maximum of Tk.50/ for each cheque returned unpaid in Mudaraba Savings Deposit Account outside the Clearing House area.
  • The Bank may at its discretion and without assigning any reason stop issuance of a new checkbook or any form to a customer.
  • The Bank may close the Account without assigning any reason, therefore.

Overdrawing Policy:

No Mudaraba Saving Account shall be allowed to be overdrawn.
Wrapping Up:
As it is important to pick the right bank for the savings and security issues of your wealth, having that thought in our mind we tried to demonstrate the best possible savings account providing 5banks in Bangladesh. This article will guide you through the way of choosing the right bank for the savings account to simplify your banking journey.