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Deposit

MTB has a number of special scheme deposit products, which are the major source of long term deposit of the bank. That also helps the bank in treasury management. MTB Quarterly Benefit plan is one of the major deposit product and the depositor will get quarterly interest against deposited amount. It will ensure future security of the investor.

Terms & Conditions

  • A person/persons can invest in this plan singly or jointly.
  • The tenure of this plan will be 1 year to 2 years and after the tenure, the account will be renewed automatically.
  • The minimum amount to be deposited to avail an MTB Quarterly 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.
  • For pre-mature encashment within one year no benefit will be provided.
  • 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 80% of the deposited amount.

Monthly Interest Payment Table

Principal Amount (for example)Rate of InterestPeriodMonthly Benefit (before Tax)Monthly Benefit (after deduction Of Tax @ 10%)Monthly Benefit after Tax @ 15%
1,00,000.004.80%1 Year1,2001,080 1,020
1,00,000.005.04%2 Year1,260 1,1341,071
100,000.005.20% 5 year1,3001,1701,105

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