The beneficiary (senior citizen) gets an interest amount on a monthly basis against a fixed deposit amount which is credited by the customer when opening the account.
The scheme deposit product: Special Savings for Senior Citizen scheme is offered by Bank Asia as a special deposit scheme for the senior citizens of Bangladesh. The beneficiary (Senior Citizen) gets earning (interest amount) on a monthly basis against a fixed amount of money which is deposited by the customer in the time of opening the account. The monthly earnings from this deposit scheme is relatively higher than that of other similar deposit schemes.
Your Requirements as a Potential “Special Savings for Senior Citizen” Customer
In order for you to be eligible to open any of the bank accounts listed above in Bank Asia, you will need have to fulfil certain requirement. Such as;
- The beneficiary needs to be a citizen of Bangladesh,
- The beneficiary needs to be 60 or above,
The Documents You Will Need at Hand to Open an “Special Savings for Senior Citizen” Account when We are at Your Doorstep
The common documents/papers required to open any of the available account opening services from Bank Asia are listed below:
- Two Passport-Sized Copies of the Applicant’s Recent Photograph.
- One Copy of Valid NID/Birth Certificate/ Bangladesh Passport/ Driving License of the Applicant.
- One Passport Sized Copy of Nominee’s photograph.
- One Copy of Valid NID/Birth Certificate Bangladesh Passport/ Driving License of the Nominee(s).
- Proof of Address
- One Copy of Valid TIN Certificate (if applicable).
Benefits of Opening a “Special Savings for Senior Citizen” Account with Bank Asia
The benefits of opening a fixed deposit account on Bank Asia are:
- Attractive and competitive interest rates
- No hidden charges
- SOD (Secured Over Draft) loan facilities can be availed
- Monthly earning BDT 600/- per lakh
Terms and Conditions of Opening a “Special Savings for Senior Citizen” Account with Bank Asia
The terms and conditions of FDR from Bank Asia are:
- The tenure of deposit minimum of 3 years and maximum of 5 years.
- Only individuals (NOT Corporate) can open this account
- All the relevant source tax, excise duty and other levies as per govt. laws and regulation or instruction of NBR.