IDLC’s savings scheme through bKash app just in two minutes

bKash users can now avail digital savings service of IDLC Finance through their bKash accounts from anywhere in the country.

They can start IDLC's monthly savings schemes of different terms and amounts in just two minutes without any hassle of papers and forms

Since the inception of this service in September 2021, some 90,000 customers have availed the savings schemes amounting Tk14 crore, reads a press release.

Starting from opening savings to depositing monthly installments and even getting the total amount upon maturity through bKash app, this savings service has already gained popularity among the customers.

If customers want, they can withdraw their savings amount through bKash app at any stage after three months of opening the scheme.

They can also cash-out the full amount including interest without any charge upon the maturity of savings schemes.

Ali Ahmmed, chief commercial officer of bKash, said "Saving money after covering monthly expenses is a long-practiced tradition to secure future. IDLC and bKash has made this practice more convenient and easier through technology. Opportunity of saving small amount of money without any hassle will help all to save money. This will bring good for the economy as well as improve the living standard of people."

To open savings account in IDLC, customers need to click on "Savings (in bank and financial institution)" icon from the home screen of bKash app and follow some easy steps.

Users can avail the savings schemes of IDLC Finance in monthly installments of Tk500, Tk1,000, Tk2,000 and Tk3,000 starting from a minimum period of two years to a maximum of four years. 58.5 million bKash customers can avail the savings service through bKash app.

This convenient digital savings service through bKash app has created a positive vibe among the youths mostly.

Syed Javed Noor, deputy managing director of IDLC, said, "This digital savings opportunity has created a positive vibe among the people who are still out of financial inclusion. We believe, this service of IDLC and bKash will play a vital role in the structural transformation of country's economy and fulfilling dream of Digital Bangladesh"

Of the 90,000 customers, 64% has availed the service for future purpose, 25% to secure financial security, 6% to bear educational expenses and rest 5% have availed savings service for other purpose, the release stated.

In this new service, the savings installments are automatically transferred from the bKash account to IDLC Finance on a specific date of each month.

The customer is notified before each due date to keep sufficient balance in the account. Customers can see all the important information live from the bKash app, including total savings amount, savings period, and profits.