Interest First Fixed Deposit works like normal Fixed Deposit. In this deposit the customer receives interest in advance. The customer does not have to wait for maturity of the fixed deposit; instead he/she can use the interest immediately and keep the investment intact till the maturity. This is a smart scheme in the sense; depositor gets the interest first and can reinvest it.

Customer type: Individual / Joint.

Terms & Conditions:

1. A person can open more than one account for any amount in any branch of the Bank
2. Interest is payable in advance i.e. at the time of placing the deposit
3. Minimum deposited amount is Tk. 1000,000 (Taka one lac) under the Scheme. Maximum limit is no upper ceiling
4. Terms of this scheme are 3/6/12 months
5. Interest rate :
   

   Amount/slab wise Deposit	Tenure
   	03 Month	06 Months	12 Months
   Any amount	9.00%	9.25%	9.50%

6. Loan may be allowed up to 80% of the deposited amount against lien on the same
7. Interest can be re-invested in other deposit schemes
8. Principal amount can be reduced for adjusting paid interest & income tax in advance, incase of pre-mature encashment
9. To strengthening the base of long term deposit and with a view to extend banking support to lower and middle income group, we offered above type of deposit scheme
10. Early Encashment :
1. In case of premature encashment the Bank shall adjust the interest and income tax (paid in advance at the time of the deposit & after adjustment of excise duty as & when recovered on deposit) from the principal amount. So that principal amount can be reduced for adjusting paid interest & income tax in advance

 
2. An account holder may encash Interest First Fixed Deposit in advance at any time (prior to maturity) by a written application. That account holder will get back the principal amount as per the following manner :

 
1. If the account is closed within 3 (three) months the account holder will get back the self-deposited principal amount after adjusting the paid Interest, tax & exercise duty. The customers receive interest at the prevailing rate of Savings account only for the fraction period

 
2. If the account is closed after 3 (three) months but before 6 (six) months, the account holder will be entitled to get back the deposited principal amount (after adjusting the paid Interest, tax & exercise duty if applicable) along with the IFFD interest for the previous completed term (i. e. 3 months) and the savings interest rate for the rest fraction period

 
3. If the account is closed after 6 (six) months but before 12 (twelve) months, the account holder will be entitled to get back the deposited principal amount (after adjusting the paid Interest, tax & exercise duty if applicable) along with the IFFD interest for the previous completed term (i.e. 6 months) and the savings interest rate for the rest fraction period

 
4. After completing the full term or at the maturity account holder will be entitled to get back the principal amount only