BASIC Double Deposit Scheme

General Features:

  • The Scheme shall be implemented through all the branches of BASIC bank Limited.
  • Only adult individual(s) in single or in joint names can open this scheme.
  • Deposit of Tk. 25,000/- (Tk. Twenty Five Thousand) and multiplies thereof but maximum limit of Tk. 50,00,000/- (Taka Fifty Lac) at a time will be acceptable under the scheme.
  • The instrument shall be issued for 10 years (120 months) term.
  • Any other terms and conditions will follow the rules of other deposit account.


A specially designed Receipt shall be issued for the deposit under the Scheme in the same manner as issued in case of FDR. Branches shall use the existing receipts for issue of instruments under this scheme till separate receipts are supplied. BASIC Double Deposit Scheme Receipts duly signed by two authorized officials of the Bank on security paper is issued. Withdrawal can be made on presentation of the receipt duly discharged.

Interest Rate:

  • Interest rate will be 7.17% p.a.
  • Interest will be calculated yearly compounding method.

Taxes & Duties:

  • Source tax will be realized at the time of interest payment as per Government regulation.
  • Excise duty is chargeable in each year based on the amount of deposit at the prescribed rate of Government of Bangladesh. Excise duty will be realized from interest payment amount during year end. If interest amount is not sufficient to realize excise duty amount then due excise duty amount will be paid from bank's suspense account and will be kept in hovering mode. This due excise duty amount will be realized from next interest payment amount.
  • In case of premature encashment, if interest amount do not cover the Govt. charges then it will be realized from the principal amount.

In case of premature encashment:

(i) No interest will be applicable within 12 (twelve) months of opening the account i.e. 1 (one) year.

(ii) Annual simple interest at the interest rate of “1 (one) year fixed deposit (FDR)” will be applicable for each full year from 1 year till the end of the accounting period; No interest rate will be applicable for fractional years.

iv) AIT & Excise duty etc. to be deducted as per existing Govt. rules.

Loan Facility:

  • Up to 90% of deposit amount excluding interest accrued loan facility will be provided against legal lien. This facility is available at issuing branch only.
  • The loan interest rate will be 2.00% higher than the interest rate applicable to the deposit scheme + 1.00% annual processing fee will be applicable on the loan limit.
Tenure Currency Slab Wise Rate Effective Date
80 Months BDT 10.6675% May 28, 2024