Shikha Sonchoy

Money Builder Deposit Scheme for Women

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Product Definition

A Term Deposit scheme where customers of female segments have to deposit a specific amount of money on every month and eligible to earn interest at the time of maturity.

Core Benefits

  • Loan/SOD processing charge free
  • Minimum deposit balance BDT 500 per month
  • Opportunity for short and long term investment

SONCHOY Money Builder

Deposit Scheme

Shikha Sonchoy

SHIKHA – Sonchoy Money Builder Deposit Scheme (SMBDS) is an installment based savings deposit (on monthly basis) for female customer. It is targeting to our valued female group to leverage the deposit collection. In this scheme female customer deposits certain amount of money monthly for a certain period and an agreed amount will be paid to the customer on maturity. This scheme offers a special interest rate of 0.25% higher than our regular term deposit product to motivate female customer segment.

Why Choose

LankaBangla Shikha Sonchoy

  • Minimum deposit balance BDT 500 per month or any of its multiple.
  • Tenure will be 36 months to 120 months
  • Interest will be calculated on monthly cumulative basis
  • Any credit facility to be governed by the personal Loan PPG regarding Secured Loan/SOD)
  • Term deposit can be renewed on maturity for the same tenor but at prevailing rate of interest (Approved by ALCO)
  • Opportunity for short and long term investment
  • Higher rate of interest to our female customer segment
  • Clients will have flexibility of encashment. They will earn full value of any completed tenure of either 3Y/5Y/10Y and earn bank rate on the rest of the period.
  • SOD up to 80% of cumulative principle amount when total cumulative deposit amount will be minimum BDT 50,000
  • Loan/SOD processing charge free

  • Applicant’s one photo (passport size studio print photo) and NID/ passport/ driving license photocopy
  • Nominee’s one passport size studio print photo with NID/passport/driving license photocopy
  • Applicant’s E-TIN certificate
  • Payable interest amount is subject to Tax Deduction at Source (TDS) and Excise duty as per Government rules and regulations and interest will be paid through pay-order/ account payee cheque / credited to client’s mentioned bank account through BEFTN, RTGS etc.
  • LankaBangla’s interest expense account will be debited for onward payment of interest to the client

Encashment :

    Before 12 months 0 %( Only Principal)
    But after completing 12 months to before maturity client will get Bank Rate (i.e. 5% p.a.) as per monthly pro – rata basis subject to payment of 6 number of installments.
    After the completion of 36 months, Client will be eligible to collect full value of any completed maturity 3Y/5Y/10Y (as per the agreed upon rate at the time of starting the deposit). If the client wants to go for encashment in between completion of maturity periods, she will get full value of completed maturity and earn bank rate for the rest of the period. [i.e. – If the client goes for encashment at 3 years and 5 months, she will get the full maturity value for 3 years and earn bank rate for the 5 months.

Encashment and Premature encashment as per our SHIKHA – Money Builder Term Deposit Policy

Regulatory Requirement: The product will comply with exiting internal and external regulations of the country.

Government Levy/Excise Duty: As per government regulatory policies

Particulars 2021 2020
Long Term AA3 AA3
Short Term ST-2 ST-2
Outlook Stable Stable
  • AA3

    Very strong capacity
    Very high quality
    Very low credit risk

  • ST-2

    High grade
    Strong capacity
    Commendable liquidity

Rated by Credit Rating Agency of Bangladesh Limited(CRAB)
Based on audited financial statements up to December 31, 2020, unaudited financial statements as of March 31, 2021 and other relevant quantitative as well as qualitative information up to the date of rating declaration (July 19, 2021)
Valid up to June 30, 2022