MTB Millionaire Plan
It is a monthly deposit scheme which will make a client millionaire after a certain period. This scheme will be very much helpful to implement a future plan successfully by small savings.
- Any person/persons, government and non-government organization can open this account singly or jointly.
- The tenure of this scheme is 4/6/8/10/12/15/20 years. More than one account can be opened by the same depositor in the same branch.
- If the depositor wishes to withdraw the deposited amount before agreed term, the interest will be paid at prevailing savings rate.
- Instalment may be deposited within 20th of every month by cash/cheque or under the depositor’s instruction from another deposit account. If the 20th day of the month happens to be a holiday, the instalment will be deposited by the next working day.
- If the depositor fails to pay 3 consecutive instalment, the account will be closed and net payable amount will be transferred to link account (if any) or to Sundry Deposit account and the customer will be informed accordingly.
- If the depositor wishes to withdraw the deposited amount before agreed term, the interest will be paid at prevailing savings rate but no interest will be paid if the depositor withdraws the deposited amount before 1(one) year.
- 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 bank’s rules and regulations.
- Advance instalments may be deposited but no additional interest will be paid for this.
- Late fees @ 2% of instalment amount will be charged per month for failure to deposit the instalment in time.
- If the address of the depositor is changed, it would be informed instantly in writing.
- 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 the plans if deemed necessary.
- The customer may avail loan up to 90% of the payable amount. But this facility will be eligible after 1(one) year from opening the account.
- The customer can avail credit card limit up to 80% of the payable amount. Minimum credit card limit will not be less than BDT 10,000.00.
Monthly instalment & Deposit:Effective from March 11, 2020
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