Customers can now avail digital savings scheme of Dhaka Bank and Mutual Trust Bank (MTB) through bKash accounts from anywhere in the country, 24/7.
They can open savings schemes of different tenures and amounts of these two banks in just a few minutes from the comfort of their homes, avoiding the hassle of paper documents or forms, reads a press release.
With this, people outside the banking channel can now open savings accounts easily without going to the bank counters. This service will further encourage people from all walks of life to save money and help ensure future financial security.
Last year, Bangladesh’s largest non-banking financial institution, IDLC Finance, introduced the country’s first ‘Digital Savings Scheme’ to enable customers to avail of the service through their bKash accounts.
Following the success, the recent addition of these two banks will further strengthen the digital savings platform of bKash.
To open a savings account, customers need to click on the ‘Savings (in a bank and financial institution)’ icon from the home screen of bKash app and follow some easy steps. They can avail of the savings schemes in monthly instalments of Tk500, Tk1,000, Tk2,000 and Tk3,000 starting from a minimum period of two years to a maximum of four years.
After maturity of the scheme, customers can cash out the entire amount including profit from their bKash account without any charge.
The savings instalments will be automatically transferred from the bKash account to Dhaka Bank or MTB on a specific date of each month.
The customer will be notified before each due date to keep a sufficient balance in the account.
Customers will be able to see all the important information ‘Live’ from the bKash app, including total savings amount, savings period, and profits.
Any customer, who is currently registered through e-KYC, can avail of this Savings service using the bKash app.
However, customers can update their account information through the bKash app.
In this regard, Emranul Huq, managing director and CEO of Dhaka Bank said: “Dhaka Bank is working relentlessly to make financial inclusion meaningful. In continuation of this, the small savings scheme is launched in collaboration with bKash. As a result, marginalized people, who are outside the financial inclusion, will be able to deposit their hard-earned money in a completely hassle-free and secure way with the help of technology and without coming to the bank.”
Syed Mahbubur Rahman, managing director and CEO of MTB said: “A small amount of savings can be very helpful for meeting up any future need. In a bid to encourage this perspective, MTB and bKash have jointly made Savings easier, more comfortable and safer using the latest and secured technology. We believe this service is making financial inclusion more effective and meaningful by enabling everyone under and outside the reach of banking services to adopt digital savings schemes. It will contribute to the social security of people at large.”
Kamal Quadir, CEO of bKash said: “Utilizing the latest technology, bKash has partnered with banks and financial institutions to make Savings more accessible and convenient for the customers. By enabling all the unbanked and underbanked customers to avail of digital savings, this service will further cement the ecosystem of digital transactions.”
