Padma Special Term Deposit

This is a pleasure to inform you that Padma Bank Ltd. has devised a new Deposit product tiled Padma Special Term Deposit Booking of deposit under this account is applicable for “Absolutely Fresh Deposits”he objective of the product is to attract high deposit niche of customers who are looking for better investment. The product will also help us to retain our customers.

Features:

The proposed core feature of the product is as follows:

  Category Tenure
PADMA Progress 60 Any Amount 60 Days
Padma Privilege 100 Below 50 Lac 100 Days
From BDT 50 Lac to BDT 1 Crore
Greater than BDT 1 Crore
PADMA Priority 200 Below 50 Lac 200 Days
From BDT 50 Lac to BDT 1 Crore
Greater than BDT 1 Crore
PADMA Comfort 400 Below 50 Lac 400 Days
Greater than 50 Lac

Terms and Conditions:
  •  A customer can open an account with minimum deposit of BDT 10,000 and its any multiple.
  •  The account is applicable only for “Absolutely Fresh Deposits Only”.
  •  The customer will receive a deposit receipt. If the customer loses the deposit receipt, s/he has to inform the Bank in writing immediately and have to lodge GD for the stolen FD receipt.
  •  The customer can receive SOD facility up-to 90% against deposit of the Term Receipt.
  •  If there is no written instruction of renewing the instrument within 10 days, the instrument will be automatically renewed for the same period. In that case, the prevailing interest rate will apply on the renewed instrument.
  •  If the customer encashes the instrument before one (1) month, there will be no interest. If the customer encashes the instrument after 1 month but before 100 days, interest will be given at the prevailing general FDR rate for 1 or 3 months. If the customer encashes the instrument after 60 days but before 100 days, interest will be given as per the availing FDR rate of 3 months only, the rest period’s interest will not be considered .If the customer encashes the instrument before 200 days but completes at least 6 months, interest will be provided at the prevailing FDR rate of 6 months. If the customer encashes the instrument before 400 days and completes at least one year, s/he will be provided interest rate at the prevailing FDR rate of 1 Year. For any extra days after1/3/6/12 months, interest will not be provided.

Requirements:
  •  All necessary similar documents for opening an FDR will be required.