Dhaka Bank is well poised to be the leading Retail Banking business amongst the local private banks. Bank's conscious efforts in brand building, introducing and supporting new packaged products, developing PB organization along with non-traditional delivery channels have resulted in good brand awareness amongst its chosen target markets. Installment based savings schemes are a major category of saving instruments amongst mid to upper middle-income urban population . DPS is an installment based savings scheme (Deposit Pension Scheme) of Dhaka Bank for individual clients. The key differentiators of the product will be –

1. Amount of monthly deposit - The scheme offers the clients the flexibility of tailoring the amount of monthly deposit based on his monthly cash flow position. The minimum monthly deposit will be BDT 500.00 The client will have the option of depositing any amount in multiples of BDT 500.00 subject to a maximum of Tk 20,000.
2. Flexible tenor of the scheme- The client has flexibility of deciding on the tenor of the scheme in-terms of number of months. However, the minimum tenor would be 48 months and the maximum would be 144 months.
3. Flexibility to open any number of DPS Account- A client can open maximum five DPS accounts in client’s name, in his/her spouse’s name or in the name of his/her children or in joint names with any of his/her family members.
4. Bonus point - if the client continues the scheme up-to maturity then at maturity, the client will be awarded a bonus 1% on the total deposit amount. However, to qualify for the bonus point, client may default in paying maximum 2 installments within the tenure of the DPS.
5. Premature encashment – if any client closes the deposit account before one year, s/he will not be entitled to any interest. Account running more than a year will be eligible for the prevailing interest offered in the savings account.
6. Late payment fee – Clients failing to deposit any installment will pay 5% late payment fee on the deposit installment amount as late payment fee, which will be realized at the time of depositing the next deposit Installment.
7. Payment through Account – Clients will have to open an Account with Dhaka Bank Limited and a standing instruction will be executed for auto-debit to effect the monthly installment.
8. OD Facility against DPS - Clients will have the option of taking advance upto 90% of the deposited amount at the time of application. However, to be eligible for the OD facility, the account must be at least 2 years old or the minimum ticket size of the advance will be Tk 20,000.00.

RESTRICTIONS AND CLIENT ELIGIBILITY

• Any Bangladeshi Citizen attaining 18 years of age will be eligible to avail this product by opening an account in any of the branches of DBL. Branch will ensure compliance with account opening formalities.
• A minor operated by the legal guardian may also open the account.
• The tenor and the deposit amount agreed by the applicant and accepted by the Bank at the time of opening the account cannot be changed afterwards.

CLOSURE OF ACCOUNT
The account will immediately cease to operate in case of the following:

• Death of the account holder.
• Failure to pay 5 consecutive installment

SETTLEMENT OF THE ACCOUNT
DOCUMENTATION - In order to open the account, the account holder will execute the following documentation:

• Fulfilling Account opening formalities
• Filling up the DPS Application form
• 2 copy Pass port size Photograph of the applicant
• 1 copy passport size photograph of the nominee attested by the applicant