| 1 |
Eligibility |
Any Bangladeshi adult citizen, Proprietorship or Partnership concern, Limited Company, Club, Society, Trustee, NGO, Educational Institution and Non-Resident Bangladesh can open deposit account.
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| 2 |
Nomination Facility |
A Depositor can nominate one or more individuals as his/her nominee who can withdraw the deposit amount with profit in case of death or at the instruction of the depositor.
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| 3 |
Account Operation |
You can apply signally or jointly. In case of joint account, there is option to have the account operated by either or survivor, or anyone to survivor(s) of the joint depositors to operate the account singly.
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| 4 |
Mode of Deposit |
You can deposit either by way of A/C payee cheque or Pay Order or Demand Draft of any schedule bank or account deposit in favor of FFL.
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| 5 |
Deposit Receipt |
For each scheme, a Deposit Receipt will be issued in favor of the depositor(s). You should keep it safely as you have to discharge the Receipt at the time of encashment.
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| 6 |
Maturity and Renewal |
The maturity will be dependent on the day of deposit. At maturity, the deposit will be renewed with profit unless notice is given to the contrary to FFL.
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| 7 |
Loan Against Deposit |
A depositor can avail loan(s) up to 80% of the deposited amount. The rate of interest would be 2.50% - 3.00 % higher than the rate of interest on existing deposit.
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| 8 |
Encashment of Deposit |
On maturity or at least after 3 months of the deposit, unless instructed otherwise and acceptable by FFL, repayment will be made by crossed cheque favoring the first named depositor upon receipt of duly discharge Deposit Receipt. If maturity falls on any holiday, repayment shall be made on the next working.
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| 9 |
Renewal of Deposit |
Unless any written request for renewal is received at least three days before the date of maturity, the deposit will be automatically renewed for the same period and scheme, at the prevailing rate of return.
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| 10 |
Premature Withdrawal |
For all products, premature withdrawal will be allowed only after 3 months. In case of premature withdrawal, at the discretion of FFL return on your deposit interest will be calculated at savings rate. Before 3 months we pay only principal amount subject to prior approval from Bangladesh Bank.
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