Monthly Benefit Plan

In this plan a depositor will get monthly interest against deposited amount on a regular basis. If this plan is opened, it will ensure the future security of the investor. It is introduced considering mainly the future security of the retired government and non-government employees and other calculative depositors.

Terms & Conditions

  • A person/persons can invest in this plan singly or jointly.
  • The tenure of this plan will be 1(one) year to 5(five) years and after the tenure, the account will be renewed automatically.
  • The minimum amount to be deposited to avail an MTB Monthly Benefit Plan is BDT 100,000.00 and multiples of BDT 100,000.00.
  • More than one account can be opened by the same depositor in the same branch.
  • This account can be opened on any day of the month.
  • The date, on which the deposit is received, the interest will be paid on the same date of the next month in the depositor’s Savings/Current account.
  • Any change in address should be notified to the branch in writing immediately.
  • If the depositor wishes to withdraw the deposited amount before the agreed term, the interest will be paid at the prevailing savings rate and the already paid excess interest money will be adjusted from the depositor’s principal amount.
  • In case of death of the depositor, the plan will cease to function. The amount will be paid to the nominee(s) with applicable interest as per the rules on proper identification.
  • Government Tax/Tax at Source etc. will be deducted from the payable amount as per Govt. rules.
  • Other terms and conditions shall be governed by the rules and regulations of Mutual Trust Bank Limited under the existing laws applicable in Bangladesh.
  • The bank reserves the right to change the rules/procedures of this plan if deemed necessary.

Credit facility

  • The customer may avail loan up to 90% of the deposited amount.

Example

Principal
Amount
(For Example)
Rate of
Interest
PeriodMonthly Benefit
before Tax
Monthly Benefit
after Tax @ 10%
Monthly Benefit
after Tax @ 15%
100,000.008.40%1 year700.00630.00595.00
100,000.008.40%2 years700.00630.00595.00
100,000.008.40%3 years700.00630.00595.00
100,000.008.40%4 years700.00630.00595.00
100,000.008.40%5 years700.00630.00595.00