Uttaran Labonya Deposit Scheme

Category / Loan type: Women's Savings Scheme

Purpose :

A dedicated monthly installment savings scheme introduced by Uttara Bank PLC specifically to empower and encourage adult Bangladeshi women to build up sustainable financial savings.

Customer Eligibility :

Any adult Bangladeshi woman may open one or more account(s) singly or jointly.

Mode of Deposit :

Deposits can be made through Cash or Transfer. In case of transfer, the monthly installment amount may be realized from the customer's personal savings/current account with Uttara Bank PLC as per standing instructions.

Tenor & Maturity Values Matrix :

Tenor of Scheme: Flexible periods of 3, 5, 7, or 10 years. Account holders must choose their fixed monthly installment size from the baseline chart below.

Monthly Installment (Tk.)	Maturity Value (Tk.)
Monthly Installment (Tk.)	03 Years	05 Years	07 Years	10 Years
500	20,844	37,816	57,247	91,006
1,000	41,689	75,631	114,494	181,997
2,000	83,378	151,263	228,941	363,794
3,000	125,066	226,848	343,328	545,607
4,000	166,755	302,479	457,821	727,620
5,000	208,428	378,064	572,238	909,473
10,000	416,841	756,159	1,144,507	1,818,639
15,000	625,285	1,134,207	1,716,468	2,725,929
20,000	833,729	1,512,364	2,288,425	3,634,710

Interest Rate :

10.25% per annum (at simple).

Schedule of Deposit :

The first installment must be deposited at the time of account opening. Remaining monthly installments must be deposited on or before the 10th day of each month.
If the 10th day of any month becomes a government holiday, the account holder will deposit on the following working day without penalty.
Installment(s) in advance may be allowed.
Failing to pay on time will attract a penal interest imposed @ 1% per month on the installment amount or a minimum of Tk. 50 per month for each irregular installment(s).
Forced Closure: The account will be closed if the account holder(s) fails to deposit 3 (three) consecutive installments.

Required Documents :

2 (Two) copies of recent passport-size photographs of the applicant(s).
Photocopy of NID/Passport/Birth Registration Certificate (BRC) & TIN Certificate (if any) of the Applicant(s).
1 (One) copy of passport-size photograph & photocopy of NID/Passport/Birth Registration Certificate (BRC) of Nominee(s).

Nominee Rules :

According to Section 103 of Bank Company Act-1991, account holder(s) must nominate her/their nominee(s). Account holder(s) may change her/their nominee(s) at any time.

Loan Facility :

Loan facility may be availed up to 80% of the total deposited amount accumulated.

Maturity & Settlement :

The account will be considered as matured when it completes its declared tenor with all installment payments satisfied.

Premature Encashment Policy :

No interest will be paid in the account for less than one year.
Interest will be paid at the prevailing Savings Bank (SB) rate for one year and above but less than 3 years.
Interest will be paid at the prevailing SB rate + 1% for 3 years and above.

Regulatory Framework & Rules :

Charges: The bank will deduct applicable charges from the A/C as per the schedule of charges. All charges, i.e., source tax, excise duty, VAT, etc., will be deducted from the maturity amount as per government rules.
Mandatory Rules: The Money Laundering Prevention Act-2012 (and all its amendments thereafter), Anti-Terrorist Act-2009 (and all its amendments thereafter), and Bank Company Act-1991 & 2013 (and all its amendments thereafter) will be applicable.
Transfer of Account: The account may be transferred to any branch at the request of the account holder(s).
Cheque Book: No Cheque Book will be issued against the account.

*Special Notice: The payable amount might be changed; Govt. Tax/Duty would be paid by the client. Bank Authority has the right to change any terms and conditions related to the account at any time and the account holder(s) will have to abide by. Customer(s) has/have to inform the bank in writing in case of any changes of Customer's data i.e. address, phone number, etc. without delay.