What is Fixed Deposit General?
Fixed Deposit General is a non-transactional account that gives interest and principal at maturity. Minimum required amount to open a General FD account is BDT 100,000 upto any amount and through digital platform (Astha App) is BDT 10,000. Interest Rate and tenure will be applicable as per published Bank Treasury Rate. Interest is paid on maturity; calculated at 360 days, as per the Interest Rate Matrix. This account is available on a roll over basis until the customer authorizes its closure. Government Tax as per prevailing Bangladesh bank Guideline shall apply to the interest amount.
What is Freedom Fixed Deposit (FFD)?
Freedom Fixed Deposit is a non-transactional account that gives interest quarterly to the link account (i.e. saving/current account) automatically. Minimum amount required to open a FFD account is BDT 100,000 upto any amount. Interest Rate and tenure will be applicable as per published Bank Treasury Rate. This account is available on a roll over basis until the customer authorizes its closure. Interest is paid on a Quarterly basis after adjusting for Government tax as per prevailing Bangladesh bank Guideline on the interest amount, as per the Interest Rate Matrix.
What is Abiram Fixed Deposit?
Abiram Fixed Deposit is a non-transactional account that gives interest monthly to the link account automatically. Amount required to open the Abiram FD account is BDT 100,000 upto any amount. Interest Rate and tenure will be applicable as per published Bank Treasury Rate. This account is available on a roll over basis until the customer authorizes its closure. Interest is paid on a monthly basis after adjusting for Government tax as per prevailing Bangladesh bank Guideline on the interest amount, as per the Interest Rate Matrix.
What is Fixed Deposit Plus?
Fixed Deposit Plus is a non-transactional account that gives interest and principal at maturity. Minimum amount required to open the FD Plus account is BDT 100,000 upto any amount. Interest Rate and tenure will be applicable as per published Bank Treasury Rate. Interest is paid on maturity, calculated at 360 days, as per the Interest Rate Matrix. This account is available on a roll over basis until the customer authorizes its closure. Government Tax as per prevailing Bangladesh bank Guideline shall apply to the interest amount.
What is Flexi Deposit Premium Scheme?
Flexi Deposit Premium Scheme is a non-transactional account that a customer uses for interest earning and savings purposes through monthly installment basis. Customers of any age can open the FDPS, if it is opened in the name of Minor, it is to be operated by the legal guardian of the minor. Minimum amount required to open the FDPS account is BDT 500 and its multiples upto any amount. FDPS Interest Rate and tenure will be applicable as per published Bank Treasury Rate. Interest (adjusting for Government tax as per prevailing Bangladesh bank Guideline on the interest amount) will be paid at maturity date, as per the Interest Rate Matrix published by Bank Treasury.
What is Resident Foreign Currency Account
(RFCD)?
Resident Foreign Currency Deposit (RFCD) Account is a foreign currency account. The fund in this account is kept as deposit. The account can be maintained in USD, GBP or Euro. RFCD debit card is available in this account. This international debit card can be used worldwide at Visa ATMs for cash withdrawals, Visa enabled Point-of-Sales (POS) terminals for purchases and for online purchase (e-commerce) against US Dollar RFCD Account maintained with BRAC Bank. Any Resident Bangladeshi National, who has returned from travelling abroad can deposit upto USD 10,000 without FMJ Declaration. If the amount is above USD 10,000 then it must be deposited within 30 days of return along with FMJ Declaration, as per Bangladesh Bank requirement. However, proceeds of export of goods or services from Bangladesh or commission arising from business deals in Bangladesh cannot be credited to this account. This account cannot be opened in joint name. Interest in foreign exchange shall be payable on balances in such accounts if the deposits are for a term of not less than one month and the balance is not less than US $ 1000 or GBP 500 or its equivalent.
What is Non-Resident Foreign Currency Account
(NFCD)?
Non-Resident Foreign Currency Deposit (NFCD) Account is an interest bearing foreign
currency account. The accounts are kept in the nature of Term Deposits. The account
can be maintained in USD, GBP, or Euro. The account does not have ATM or debit card
facility. Bangladeshi nationals staying in another country and earning foreign
currencies or after their return to Bangladesh within last six months can open NFCD
account. Minimum amount required to open is USD 1000 or GBP 500 or equivalent
currency in Euro. Foreign nationals and companies/firms registered and/or
incorporated abroad, banks, other financial institutions including institutional
investors and 100% foreign owned (A-Type) industrial units in the Export Processing
Zones in Bangladesh, are also allowed to open and maintain NFCD accounts with the
BRAC Bank authorized dealer branches. The minimum amount of time deposits in such
cases should be USD 25,000 or its equivalent in GBP or Euro. The accounts are in the
nature of term deposits maturing after one month, three months, six months and one
year. In case of premature repayments, the interest amount will be forfeited.
Interest on deposit of NFCD account is exempted from the tax payable under the
Income Tax Act.
Foreign Currency Account for Mariners
What is Foreign Currency Account for Mariners?
Mariner's Current FCY Account in USD is specially for Bangladeshi Mariners working in foreign shipping companies.
What is the opening balance of this account?
No minimum opening balance is required for this account.
What is the interest feature of this account?
No interest will be available for this account.
Is Cheque book available for the account?
The account comes with a Free Cheque book upon request.
BRAC Bank Foreign Currency (FCY) Account for NRB
What is the opening balance for this account?
Any amount can be deposited to open this account.
What is the interest feature?
This is a non-interest bearing account for the Non Resident Bangladeshis (NRBs).
What is the Debit Card feature?
International Debit Card (USD only) available for this account.
Is Cheque book available for this account?
No, Cheque book is not available for this account.
What is the Debit Card & Account maintenance fee?
All kinds of fees & charges will be applicable as per Schedule of Charges.
Travel Related Services (TRS):
Travel Related Services deals with the sale of Cash FCY against Individual’s Travel Quota and Medical Quota. This entitlement is for a Calendar Year i.e. from 1st January to 31st December.
As per Bangladesh Bank Guideline –
Travel Quota (For a Calendar Year)
Medical File Quota (For a Calendar Year)
- USD 10,000.00 or equivalent (If patient requires more than USD 10,000.00 for treatment, Bangladesh Bank’s permission is required)
Required Travel Document for FCY Endorsement -
- Valid Passport
- Valid Visa (e-Visa/Sticker Visa)
- Copy of Ticket(s)
- One-way ticket--- Immigrant Visa, Student Visa, Permanent Resident (PR) Card Holder, Work Visa etc.
- Two-way ticket--- Tourist/Travel Visa, Business Visa, Medical Visa/Medical Attendant Visa, or any other Short Trip Visa etc.
- Date of departure should not be more than 2 weeks.
Required Documentation for Medical File and payment through SWIFT-
- Valid Passport with Visa (Parent’s Passport for Infant)
- Photo copy of Air ticket/ Bus ticket (with return)- Original ticket needs to be shown. (Kindly, note that, only confirmed ticket will be entertained, Booked Ticket/Reservation will not be entertained)
- Invoice from prospective foreign hospital or Cost estimation from the foreign hospital
- Recommendation letter from personal physician
- Related medical documents (Prescriptions, Diagnosis Reports, Doctor’s Appointment/Serial etc.)
- Previous overseas medical treatment documentation (If any) & Proof of treatment (After return from abroad)
Fees & Charges –
FCY Endorsement Fee
- Fee will be as per Schedule of Charges.
FCY Commission
- Fee will be as per Schedule of Charges.
Certificate of FCY Encashment (If required by the Customer only)
- Fee will be as per Schedule of Charges.
FCY Encashment Charge
- Fee will be as per Schedule of Charges.
Medical File Opening Fee
- Fee will be as per Schedule of Charges.