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TRUST MONEY DOUBLE SCHEME(TMDS)
The objective of this scheme is to double the deposited amount in the following way:
| Deposit Value | Maturity Value | Years | Rate of interest |
|---|---|---|---|
| 10,000/- or multiple thereof | 20,000/- or multiple thereof |
Terms & Conditions
- Interest rate 7.78% to be created quarterly and effective interest rate 8.00% p.a. pricipal will be doubled by 9 years
- The name of the scheme is "TRUST MONEY DOUBLE SCHEME(TMDS)" and an Account holder subscribing to this scheme will be called TDLS Account holder.
- An applicant can open TDLS account in his own name, in his/her spouse's name or in the name of his/her children operated by the guardian. The maximum no. of TDLS accounts from a single family cannot exceed five.
- An order instrument mentioning the amount payable after maturity shall be issued favouring the depositor(s).
- In case of discontinuation of the scheme, account will be settled as below:
Different duration Treatment
Applied Rate of Interest Less than 1 year No interest More than 01 years but less than 03 years Prevailing interest rates on Savings Account More than 03 years but less than 05 years Interest of first three years More than 05 years but less than 07 years Interest of first five years
- The depositors may select nominees.
- In case of death of the depositor, the amount at discounted rate will be payable to the nominees or in the absence of nomination, to the legal heirs of the depositor.
- Loan facility may be allowed up to 80% of deposit against lien/pledge on such instrument at Bank's prescribed rates and rules but not below taka 50,000/-.
- In case of lost instrument, duplicate instrument shall be issued as per rules of lost instrument in FDR.
- Any Account can be transferred from one branch to another, in that case, TK. 25/- will be charged as Account Transfer Fee.
- The depositor should fill up to Prescribed form designated for this purpose.
- Interest on this scheme is subject to Income Tax/Levi/Vat etc. as and when imposed by the government.
- The Bank reserves the right to make change / alternation / amendment / additions / modification etc. to the account and to its related charges fees etc. at any time / stage without assigning any reasons whatsoever
