Probashi Wage Earner Development Bond (WEDB) is a product designed by Bangladesh Central bank for Bangladeshi national living abroad. The objective of this product is for NRBs to invest their hard earned deposit to buy W.E.D.Bond on which the government guarantees a fixed interest rate on the deposit amount. It is a product to facilitate Probashi FC (Foreign Currency) account holders (NRBs) to purchase a Wage Earner Development Bond through BRAC Bank Probashi Banking from abroad.

Probashi Current Account

• Tax exemption on the principal and interest amount
• Loan Facility on the bonds in Bangladesh
• No maximum limit on bond purchase
• Death risk benefit up to 30% to 50% of investment.
• Interest payable every six months in BDT
• Can be used as security for any loan*
• Purchaser of Wage Earner's Development Bond can repatriate the principal amount of the bond in foreign currency

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• Wage Earners serving abroad
• In the name of any other person named in Wage earners application
• Government employees working abroad
  

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• The purchaser must have an FC account with the Bank
• The purchaser must have a photocopy of the relevant pages of the passport with the purchasers name, date of birth, date and place of issue; expiry date, photograph and signature appear.
• Address Proof of the Bond Holder or in abroad.
• 2 Copy passport photo of the Bond Holder & 2 copy for the Nominee.
• Legal work permit /proof of employment abroad

 

 

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