5.

Key Figures of NBL-NOBO

Maturity Tenure 

120 Months

240 Months

360 Months

480 Months

Deposit Tenure

60 Months

120 Months

180 Months

240 Months

Pension Tenure

60 Months

120 Months

180 Months

240 Months

Monthly Deposit

Tk. 1,000

Tk. 1,000

Tk. 1,000

Tk. 1,000

Interest Rate for total Tenure

10.50%

10.75%

11.00%

11.25%

Pensionable Fund (Approx.)

Tk. 78,202

Tk.2,09,809

Tk.4,37,464

Tk.8,41,208

Monthly Pension (Approx.)

Tk. 1,681

Tk. 2,861

Tk. 4,972

Tk. 8,826

Total Pension Payable (Approx.)

Tk. 1,00,852

Tk.3,43,260

Tk. 8,94,997

Tk. 21,18,342

Monthly Deposit

Tk. 5,000

Tk. 5,000

Tk. 5,000

Tk. 5,000

Interest Rate for total Tenure

10.50%

10.75%

11.00%

11.25%

Pensionable Fund (Approx.)

Tk. 3,91,012

Tk.10,49,043

Tk.21,87,321

Tk.42,06,040

Monthly Pension (Approx.)

Tk. 8,404

Tk. 14,303

Tk. 24,861

Tk. 44,132

Total Pension Payable (Approx.)

Tk. 5,04,262

Tk.17,16,302

Tk. 44,74,984

Tk. 1,05,91,711

Monthly Deposit

Tk. 10,000

Tk. 10,000

Tk. 10,000

Tk. 10,000

Interest Rate for total Tenure

10.50%

10.75%

11.00%

11.25%

Pensionable Fund (Approx.)

Tk. 7,82,023

Tk. 20,98,087

Tk. 43,74,641

Tk. 84,12,080

Monthly Pension (Approx.)

Tk. 16,809

Tk. 28,605

Tk. 49,722

Tk. 88,264

Total Pension Payable (Approx.)

Tk. 10,08,524

Tk. 34,32,604

Tk. 89,49,967

Tk. 2,11,83,422

Monthly Deposit

Tk. 20,000

Tk. 20,000

Tk. 20,000

Tk. 20,000

Interest Rate for total Tenure

10.50%

10.75%

11.00%

11.25%

Pensionable Fund (Approx.)

Tk. 15,64,046

Tk. 41,96,173

Tk. 87,49,283

Tk. 1,68,24,161

Monthly Pension (Approx.)

Tk. 33,617

Tk. 57,210

Tk. 99,444

Tk. 1,76,529

Total Pension Payable (Approx.)

Tk. 20,17,047

Tk. 68,65,209

Tk. 1,78,99,934

Tk. 4,23,66,844

Monthly Deposit

Tk. 30,000

Tk. 30,000

Tk. 30,000

Tk. 30,000

Interest Rate for total Tenure

10.50%

10.75%

11.00%

11.25%

Pensionable Fund (Approx.)

Tk. 23,46,070

Tk. 62,94,260

Tk. 1,31,23,924

Tk. 2,52,36,241

Monthly Pension (Approx.)

Tk. 50,426

Tk. 85,815

Tk. 1,49,166

Tk. 2,64,793

Total Pension Payable (Approx.)

Tk. 30,25,571

Tk. 1,02,97,813

Tk. 2,68,49,902

Tk. 6,35,50,266

Monthly Deposit

Tk. 40,000

Tk. 40,000

Tk. 40,000

Tk. 40,000

Interest Rate for total Tenure

10.50%

10.75%

11.00%

11.25%

Pensionable Fund (Approx.)

Tk. 31,28,093

Tk. 83,92,347

Tk. 1,74,98,566

Tk. 3,36,48,321

Monthly Pension (Approx.)

Tk. 67,235

Tk. 1,14,420

Tk. 1,98,888

Tk. 3,53,057

Total Pension Payable (Approx.)

Tk. 40,34,095

Tk. 1,37,30,418

Tk. 3,57,99,869

Tk. 8,47,33,688

Monthly Deposit

Tk. 50,000

Tk. 50,000

Tk. 50,000

Tk. 50,000

Interest Rate for total Tenure

10.50%

10.75%

11.00%

11.25%

Pensionable Fund (Approx.)

Tk. 39,10,116

Tk. 1,04,90,433

Tk. 2,18,73,207

Tk. 4,20,60,402

Monthly Pension (Approx.)

Tk. 84,044

Tk. 1,43,025

Tk. 2,48,610

Tk. 4,41,321

Total Pension Payable (Approx.)

Tk. 50,42,619

Tk. 1,71,63,022

Tk. 4,47,49,836

Tk. 10,59,17,110

6.

Formalities & Documents

An Applicant must complete following formalities and submit below mentioned documents to open NBL-NOBO Account.

i.

Duly fill up required Account Opening Form (AOF) with 02 latest Passport size Photographs of Applicant. It is mandatory to mention Applicant’s active Telephone/ Mobile number and email address (if there is any) in AOF.

ii.

Copy of Applicant’s NID/valid Passport/Registered Birth Certificate (as applicable) & TIN Certificate (if tax payer).

iii.

Applicant must have Savings A/C in his/her single name with the concerned Branch/Sub Branch to make Monthly Deposit and to draw Monthly Pension.

7.

Nominee(s) of Account

Appointing Nominee(s) for NBL-NOBO A/C is mandatory. 02 latest Passport size Photographs, copy of NID/valid Passport/ Registered Birth Certificate (as applicable) of Nominee(s) (all duly attested by Applicant) must be submitted.

i.

If Nominee(s) is “Minor”, appointing “Guardian” for Minor Nominee(s) is mandatory. 02 latest Passport size Photographs, copy of NID/valid Passport/Registered Birth Certificate (as applicable) of Guardian (all duly attested by Applicant) must be submitted.

ii.

Nominee(s) and or Guardian may be changed any time during the Maturity Tenure. Account Holder shall apply to the concerned Branch/Sub Branch in writing alongwith submitting documents mentioned in Clause 7, & 7-i of newly appointed Nominee(s)/Guardian as the case may be.

All copy documents as mentioned in Clause 6-ii,  7-i & 7-ii  must be duly verified with the Original by Branch/Sub Branch authorized Official(s) and shall affix seal on copy documents “Original seen and Copy Verified” with his/her name and signature)

8.

Deposit Date

Monthly Deposit shall have to be deposited by 15^th day of each calendar month. In case 15^th day is a holiday, deposit shall be made on next working day. Fractional Monthly Deposit is prohibited.

9.

Advance Payment of Deposit Amount:

Account Holder shall have option to make Monthly Deposit in advance. Advance Monthly Deposit for fractional amount or for fractional Month is prohibited.

10.

Payment of Monthly Pension Amount:

“Pension Tenure” of an account (to receive Monthly Pension) shall commence from the following month an Account Holder completes his/her “Deposit Tenure”.

i.

Monthly Pension Amount shall be credited to Account Holder’s SB A/C within 5^th day of every month after deducting applicable AIT from Monthly Pension Amount.

ii.

Excise Duty (ED) as applicable, shall be paid as and when due and the paid ED shall be realized from Monthly Pension Amount of following month;

iii.

If Pension Tenure of an account commences prior to Account Holder attains 60 years of age he/she shall have  option to:

1. Receive Monthly Pension from the following month his/her “Deposit Tenure” is completed or

2. Withdraw the entire Pensionable Amount at a time.

3. Partial withdrawal of Pensionable Amount is strictly prohibited.

11.

Auto Closure and Revival of Account :

If an Account Holder fails to pay 6 consecutive Monthly Deposit, his/her NBL-NOBO A/C shall be automatically closed. However,

i.

Account Holder may have the option to revive the closed account if he/she applies to the Branch/Sub Branch in writing within the 5^th month of default.

ii.

Penal Interest @ 2% per month per monthly defaulted Deposit Amount must be realized for revival of account.

iii.

If the account is foreclosed for the reason mentioned above, interest as per prevailing SB interest rate shall apply only if the Account Holder had paid minimum 06 number of Monthly Deposit prior to the foreclose.

12.

Premature Encashment

An account holder may have the option for Premature Encashment of NBL-NOBO A/C any time.

i.

In case of Premature-Encashment during Deposit Tenure, Account Holder is entitled to receive interest @ prevailing SB interest rate only if, at least 06 Monthly Deposit had been paid prior to Premature-Encashment.

ii.

In case of Premature-Encashment during Pension Tenure, Account Holder shall receive “Outstanding Balance Amount” as it would appear on the date of Premature-Encashment.

13.

Loan Facilities:

Account Holder may have the option to avail loan (Demand Loan/Overdraft) against his/her NBL-NOBO A/C during the Maturity Tenure of his/her account as detailed below:

i.

Account holder shall be eligible to avail Loan Facility fulfilling the followings:

1. At least 12 Monthly Deposit is being paid in NBL-NOBO A/C and

2. Minimum Principal Deposit amount in NBL-NOBO A/C is Tk. 50,000/-

3. If an Account Holder maintains multiple NBL-NOBO A/C, in that case he/she shall be eligible to avail Loan Facility if total Principal Deposit Amount of all His/her NBL-NOBO A/C(s) is Tk. 50,000/- or more. Condition 13-i (a) 13-i (b) above shall not be applicable in this case.

ii.

Loan amount shall not exceed 80% of Monthly Deposit amount paid or 50% of Pensionable Fund Balance at the time of applying for the loan.

iii.

Rate of interest shall be the prevailing rate of interest of the bank.

iv.

Maximum Loan Period shall be 01 year and renewable.

v.

Loan must be repaid in monthly installment or lump sum amount at a time.

vi.

Collateral of loan shall be lien on his/her NBL-NOBO A/C(s). 

vii.

If loan is availed during “Deposit Tenure” and continues during “Pension Tenure” or If loan is availed during “Pension Tenure”, following conditions shall apply.

1. At every renewal date, outstanding loan amount must not exceed 50% of Unpaid Pension Payable Balance.  

2. The entire outstanding loan liabilities must be fully adjusted atleast 12 months prior to completion of “Maturity Tenure” irrespective of Renewal date.

3. Clause 13-vii (a) &13-vii (b) shall not be applicable and loan may be allowed to continue for further period if borrower agrees & provides additional collateral by way of lien on other FDR and or Term /Scheme Deposit Account wherein value of additional collateral sufficiently covers the loan liabilities till full adjustment.

Above condition 13-vii, vii-(a) vii-(b) vii-(c) must be an integral part of Loan Sanction Advice.

4. Branch/Sub Branch shall closely monitor loan account(s) to ensure outstanding loan amount till full and final adjustment is sufficiently covered by adequate collateral.

14.

Death of Account holder

In the event of death of account holder the following rules shall be applicable:

i.

The Account shall be marked as “Deceased A/C” immediately after it comes to the knowledge of the Branch/Sub Branch.

ii.

Deceased Account shall be settled as per “Guidelines/ Procedure for payment and settlement of Deceased Account” laid down in Circular Letter No.4775 dated March 25, 2024 issued by Branches Operations Division.

15.

Others Condition:

i.

This deposit scheme is not transferable.

ii.

In case of any material changes such as change of Address, phone number etc. it must be duly informed in writing to the bank.

iii.

Bank can exercise the right of set-off, it necessary, in case of lien.

iv.

Excise duty, VAT & Income Tax or any other charges imposed or to be imposed by government/regulatory bodies is applicable and be realized from the account as per Circular/Notification issued to be issued by the government/ regulatory bodies from time to time. The calculations of pension scheme shown above have been calculated excluding Excise duty, VAT & Income Tax and other charges (if any).

v.

Pensionable Fund and or Monthly Pension Amount may vary due to deduction of applicable Excise Duty (ED), Income Tax (IT) or any other levy/charges that may be imposed by Regulatory Authorities from time to time.