Uttaran Swanirbhar Shanchaya Scheme (USSS)

Uttara Bank PLC. introduced a new deposit product named 'Uttaran Swanirbhar Shanchaya Scheme (USSS)' in our Bank to attract new depositors as well as existing depositors. The features of the above deposit products are as follows: -

Features of the ‘Uttaran Swanirbhar Shanchaya Scheme (USSS)’:

Customer eligibility :

Any Bangladeshi hard-earn-income individuals (like- Driver, Helper, Rickshaw-puller, small shopkeeper, Street vendors, Tea sellers, & all informal sector workers) can open this account singly or jointly.
Minor can open this account with parent or legal guardian; in that case his/her guardian must be one of the hard earners.

Account opening and deposit amount :

At the time of account opening, the initial deposit amount should be Tk.100/- or any multiple thereof.

Tenure of account :

6 (Six) months to maximum 5 (Five) years.

Mode of deposit :

Either Cash or Transfer.
In case of transfer, bank will take prior permission to deduct customer's declared amount from the customer's account.

Deposit Limit :

MinimumTk.50,000 to Maximum Tk.500,000

Nature of deposit :

Account holder can deposit any amount at any time within a month i.e. like a Savings Account. Hence, an account holder will enjoy complete freedom to deposit. However, the account holder must deposit at least once within each month.

Benefit :

More deposit, more profit.

Rate of Interest :

10.00% per annum

Calculation of Interest :

Interest will be calculated on a daily basis and compounded on a 6 (six) month basis.

Required documents :

Applicant-(For each):

02(Two) copies of recent photographs
01 (One) photocopy of NID/ Driving License/ Smart Card/ Passport/BRC/ Any valid photo ID
Copy of utility bill as a proof of residence (if any)
Other documents (if applicable)

Nominee-(For each):

01 (One) copy of recent photograph (Attested by the account holder)
01(One) photocopy of NID / Passport / BRC / Any valid photo ID

Nominee :

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

Credit facility :

Credit facility available up to 80 % of the deposited amount, subject to a minimum deposit of Tk.100,000/- (One Lac).

Charges :

All charges, i.e. source tax, excise duty, etc. will be deducted as per govt. rules (if any).

Mandatory Rules :

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.

Special Instruction :

Customer(s) has/have to inform the bank in writing in any changes of customer's data i.e., mailing address, phone/mobile number etc. without delay.

Special Notice :

Bank Authority has the right to change any terms and conditions related to the account at any time and account holder(s) will have to abide by.

Transfer of account :

Account may be transferred to any branch at the request of account holder(s).

Maturity :

Account will be considered as matured when it completes minimum 6 (six) months and the principal amount to be minimum Tk.50,000/-.

Premature encashment :

Premature encashment is allowed; however, in such cases, Interest will be paid at the prevailing Savings Bank (SB) rate.

Cheque Book :

No chaque book will be issued.