Periodic Income Deposit can be divided into two parts:
- Monthly Income Deposit (MID) Scheme
Monthly Income Deposit (MID) Scheme is a special deposit scheme, where a person will get a certain some of money at the end of every month. While the deposited principal amount remain untouched.
Features & Benefits:
- A person having a sound mind can open the scheme singly or jointly or in the name of institution for Tk. 1 (One) lac and its multiple.
- The tenure of the scheme is 1 (One) year.
- The account holder can avail credit facility up to maximum 90 of the deposit amount against lien on the balance amount of the respective account at 2.00 higher than the deposit scheme rate.
- Premature encashment may be allowed only after expiry of minimum 3 (three) months. In such cases, interest will be calculated at least 2.00 less than the prescribed rate, which will be applicable for the period completed.
- The interest is payable subject to deduction of excise duty, withholding tax etc. as imposed by the government from time to time.
Quarterly Income Deposit (QID) Scheme is a special deposit scheme, where a person will get a certain some of money at the end of every quarter. While the deposited principal amount remain untouched.
Features & Benefits:
- A person having a sound mind can open the scheme singly or jointly or in the name of institution for Tk. 1 (One) lac and its multiple.
- The tenure of the scheme is 1 (One) year.
- The account holder can avail credit facility up to maximum 90 of the deposit amount against lien on the balance amount of the respective account at 2.00 higher than the deposit scheme rate.
- Premature encashment may be allowed only after expiry of minimum 3 (three) months. In such cases, interest will be calculated at least 2.00 less than the prescribed rate, which will be applicable for the period completed.
- The interest is payable subject to deduction of excise duty, withholding tax etc. as imposed by the government from time to time.
