Fixed Deposit
Monthly/Quarterly Profit Term Deposit
Under this scheme, the depositor will receive profit in every month/quarter against his/her deposit.Thus the monthly/quarterly profit distribution will help the depositor to maintain a regular income flow while keeping the original deposit amount intact.
Key Features
Minimum Deposit Amount : Tk. 1,00,000
Minimum Deposit Term : 1 year
Effective Date : 01.07.2024
Monthly/Quarterly Interest Rates:
| S.N | Term | Monthly Rate | Quarterly Rate |
|---|---|---|---|
| 1 | 1 yrs | 11.25% | 11.25 % |
Cumulative Term Deposit
Under this scheme, the deposited amount will mature to an attractive amount on completion of the deposit term. Thus the profit on the deposit will be accumulated and thereby, will help the depositor to meet his/her substantial future requirement.
Cumulative Term Deposit Key Features
Minimum Deposit Amount : Tk. 10,000
Minimum Deposit Term : 3 Months
Cumulative Interest Rates:
| S.N | Particulars | 3 Months | 100 Days | 6-11 Months | 200 Days | 12 Months | 12 Months Above. |
|---|---|---|---|---|---|---|---|
| 1 | Individual Client | 10.75 % | 10.75 % | 11.00 % | 11.00 % | 11.25 % | 11.25 % |
| 2 | Corporate Client | 10.25% | 10.25 % | 10.50 % | 10.50 % | 10.75 % | 10.75 % |
Effective Date: 06.03.2024
Taxes will be deducted from the profit earned on deposit scheme as per Government rules on payment thereof.
Interest rates are subject to change at any time without notice.
The followings are required along with the application
| S.N | Description |
|---|---|
| 1 | A copy of recent passport size photograph of both the depositor and the nominee. |
| 2 | Copy of National ID/Passport/E-TIN Certificate. |
| 3 | Compliance with KYC (Know your Customer) guideline of Bangladesh Bank. |
Aspects of Deposit Schemes
| S.N | Title | Description |
|---|---|---|
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 7 | Loan Against Deposit | 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. |
| 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. |
| 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. |
| 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. |
As the rate of return is subject to change from time to time please contact FFL to know the prevailing rate of return before placing your deposits.