What is Smart Plant?
Smart Plant offers you to multiply your initial cash to 10 times in 6 years. You are required to deposit at least Taka 10,000 or multiple of it to avail the opportunity. In single name you can deposit maximum Taka 50,00,000. Dhaka Bank shall contribute 4 times of your deposited amount to build up a fund for issuance of Smart Plant.
What is the maturity period of Smart Plant?
Maturity period of the Smart Plant is 6 years.
What would be the matured value?
The total Smart Plant amount (your deposit + Bank Contribution) will double in 6 years. For example; if you deposit Taka 10,000, bank shall contribute Taka 40,000, altogether the Smart Plant amount will be Taka 50,000. On maturity (after 6 years) the Smart Plant amount will be Taka 1,00,000¹.
How can I repay bank contribution?
You will repay the bank contribution amount in 72 equal installments. After repayment of all installments the matured value will be credited in your savings account1
Is there any late payment fee on equal monthly installment?
If you fail to pay the installment within the due date, a late payment fee of 2% per month of the installment amount will be charged.
Is there any age limit for availing this opportunity?
If you are a Bangladeshi with an age more than 18 years and not exceeding 54 years, you can avail Smart Plant.
Can I discontinue Smart Plant?
Yes, you can discontinue the Smart Plant subject to the following.
Do I require opening a Savings Account?
- Before the 1st year, no interest
- After 1st year, prevailing savings rate.
- Closing fee is 1% of your deposited amount or subject to minimum Taka 500.
Yes you are required to open a Savings account or Smart Account to maintain the Smart Plant.
Can I take loan against my Smart Plant contribution?
You will have the option of taking advance up to 90% of your contributed amount. The lending rate will be tied up with the interest rate offered on the deposit.
What will happen if I die before Smart Plant maturity?
Your nominee shall get matured value of Smart Plant if you demise prematurely before completing Smart Plant period. However, death from Self-inflicted injury, Suicide during the first year of insurance coverage, AIDS and HIV related disease, Abuse of alcohol or drugs, War, or riot, or civil commotion, Illegal act/criminal activity, Death due to any reason within the first 3 months of coverage except for accidental death, Natural Disaster viz. Earth Quake, Tsunami etc.
1Subject to Income Tax Deduction