Special privileged people can open all deposit accounts without any deposits
Bangladesh Bank on Thursday instructed banks not to impose account maintenance fees on special privileged accounts.
The central bank also issued a number of instructions about charges, fees and commissions on deposit accounts, loan accounts, remittance earnings accounts, and other accounts.
Clients can open savings accounts by depositing Tk500 and open current accounts by depositing Tk1,000, but special privileged people can open all deposit accounts without any deposits, as per the notice.
Banks can impose Tk50 as fees for fund transfer from one branch to another branch in the district and the fees will be Tk100 for transfers outside the district.
The central bank slashed early settlement charge by 75% for term loans as it found the charge creates inconvenience for the borrowers if they intend to pay back loans before the tenure.
Banks will now be allowed to slap a highest 0.5% instead of 2% as early settlement charge on the borrowers’ outstanding loan amount that would be settled before the term of repayment.
A master circular would also make it easier for the customers to resist if any bank imposed any additional fee on them, it said.
Earlier, it was difficult for the customers to go through all the circulars since 2009 and protest or lodge a complaint to the central bank if they were slapped with any additional charge, the circular further said.