No investment limit in savings tools for agencies working for autistics
The investing agencies will enjoy an 11.04% interest rate in the three-year savings instruments at the end of the term
From now on, organisations working in the development of autistics in Bangladesh and having registration with district social services offices will enjoy an unlimited opportunity to buy savings certificates in favour of their specialised educational institutions.
These agencies will be able to invest any amount of money in the three-month profit-based three-year savings certificates.
The Bangladesh Bank issued a circular in this regard on Monday, stating that a sub-rule (sub-rule 7) in this regard will be added under the Rule-5 of the National Savings Certificate Policy.
According to sub-rule 6 of the Rule-5, only agri-based institutions can invest an unlimited amount in five-year term savings certificates.
As per the circular, the investing agencies will enjoy an 11.04% interest rate in the three-year savings instruments at the end of the term.
They can also encash the tools even before they mature. In that case, the profit rate will be 10% at the end of the first year and 10.50% after the second year.
These savings certificates, as per the policy, allow a maximum of Tk30 lakh individual investment and Tk60 lakh joint investment.
At present, there are five types of savings certificates: five-year Bangladesh Savings Certificates, three-month profit based savings certificates, family savings certificates, pensioner savings certificates and post office savings certificates.
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