Uttaran Probashi Deposit Scheme

Category / Loan type: Non-Resident Savings Scheme

Purpose :

A dedicated monthly installment savings platform opened by Uttara Bank PLC to attract and encourage new and existing Bangladeshi depositors residing abroad to invest back home.

Customer Eligibility :

Any adult Bangladeshi citizen working abroad or planning to go abroad may open one or more account(s) singly or jointly.

Account Opening & Deposit Mode :

Account Opening: Can be opened at all Branches and Sub-Branches of Uttara Bank PLC in Taka for Non-Resident Bangladeshis only.
Mode of Deposit: Made through Cash or Transfer. In case of transfer, monthly installments may be realized from the customer's personal Savings, Current, or Foreign Currency Account (FCA) with Uttara Bank PLC according to standing instructions.

Tenor & Maturity Values Matrix :

Tenor of Scheme: Available for 3, 5, 7, or 10 years. Account holders must choose their flexible 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
25,000	1,042,137	1,890,156	2,859,945	4,542,948
30,000	1,250,581	2,267,800	3,431,389	5,451,217

Schedule of Deposits :

The first installment is to 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 falls on a government holiday, the deposit must be made on the following working day without penalty.
Failing to deposit on time will attract a penal interest penalty charged @ 1% per month on the installment amount or a minimum of Tk. 50 per month for each irregular installment.
Advance payments of multiple installments are fully allowed.
Forced Closure: The account will automatically close if the holder fails to deposit 3 (three) consecutive monthly installments.

Required Documents :

Duly filled up bank-prescribed Account Opening Form.
2 (Two) passport-size photographs of the applicant.
Copy of passport with valid visa, work permit, and a salary certificate or any valid proof of residence (other than salaried persons).
1 (One) copy of passport-size photograph & photocopy of NID/Passport/Birth Registration Certificate (BRC) of Nominee(s).
Attested copy of valid photo ID of the applicant (i.e. photocopy of passport, 6 pages with due attestation).
Entry Visa with due attestation (if it is written in any language other than English, a translation is required).

Nominee Rules :

According to Section 103 of Bank Company Act-1991, account holders must nominate nominee(s) in case of individual/joint holdings, and can modify their choices at any time.

Loan Facility :

Loan/credit facility can be availed up to a maximum of 80% of the total deposited principal amount accumulated.

Maturity & Settlement :

Maturity: Considered fully matured when it completes its declared tenor with all installment payments satisfied.
Mode of Payment: Branches will deliver the maturity value to the customer's account or nominee as per standing declarations. ADs (Authorized Dealers) may handle step execution if the customer desires to transfer maturity values back abroad.

Premature Encashment Policy :

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

Regulatory Framework & Rules :

Charges: Applicable schedule of bank fees along with statutory source tax, excise duty, etc. will be deducted directly from the maturity value as per government rules.
Operational Rules: Governed comprehensively by Money Laundering Prevention Act-2012, Anti-Terrorist Act-2009, and Bank Company Act-1991 & 2013 amendments.
Transfer: Accounts are highly portable and may be transferred to any branch at the explicit request of the holder.
Cheque Book: No Cheque Book will be issued against this scheme.

*Special Notice: The payable baseline maturity amounts might be updated over time; government taxes/duties are to be paid entirely by the client. The Bank Authority maintains the right to modify any terms and conditions of this account at any time without prior warning. Customers are strictly required to inform the bank in writing if any changes in account profile data (e.g., address, phone numbers) happen.