Bangladesh cuts interest on bigger investments in savings certificates

People investing more than Tk 1.5 million in six types of savings certificates will earn less from their savings than others and the profit will decline further in case of investment above Tk 3 million.

The finance ministry announced the readjusted rates on Tuesday with three thresholds among nine savings schemes, cutting profits on six of them for the investors who will buy savings instruments worth over Tk 1.5 million.

The six are: 5-Year Bangladesh Sanchayapatra, 3-Monthly Profit Bearings, Family Savings Certificates, Pensioner Sanchayaptra, Post Office Savings Bank’s Fixed Deposit and Wage Earner Development Bond.

The new rates are:

 

Up to Tk 1.5m (%)

 

Over Tk 1.5m-Tk 3m (%)

 

Over Tk 3m (%)

 

Family Savings Certificates

11.52

10.5

9.5

5 Years Bangladesh Sanchayapatra

11.28

10.3

9.3

3-Monthly Profit Bearings

11.04

10

9

Fixed Deposit at Post Office

11.28

10.3

9.3

Pensioner Sanchayaptra

11.76

10.75

9.75

Wage Earner Development Bond

12

11

10