Benefit Features:

1. The maturity period of the deposit will be 6 (six) months.
2. The Interest Rate of this product will be the prevailing rate of 6 (six) months FDR plus 0.50% p.a.  (More specifically, if single slab of 6 (six) months FDR interest rate prevails, interest rate of this account will be 0.50% higher than the 6 (six) months FDR interest rate. If multiple slabs of 6 (six) months FDR interest rate prevail then multiple slabs will be followed i.e. interest rate of this account will be 0.50% higher than the corresponding rate of multiple slabs of 6 (six) months FDR interest rate depending on the amount of this account).
3. Interest calculation basis will be 360/360.
4. Terminal/Liquidation amount (principal without interest / principal with interest) of existing recurring deposit accounts such as NBL Monthly Savings Scheme (NMS) / NBL Millionaire Deposit Scheme (MDS) / Shwapno / Apon Thikana Shonchoy Prakalpa (ATSP) / Luxury Savings Deposit Scheme (LSDS) accounts will be transferred to Souharda Account on or after maturity if the customer desires.
5. Terminal / Liquidation amount (principal without interest / principal with interest) of Double Benefit Account (DBA) / Shadhinota: A Bi-Monthly Income Scheme / Monthly Earning Scheme (MES) may be transferred to Souharda account on maturity if the customer desires.
6. This account will be opened in the name of existing account i.e. the account maintained under serial # (b) 4 & 5 above.
7. This account can be opened at any amount from the above mentioned existing deposit accounts on maturity under serial # (b) 4 & 5.
8. One customer can open more than one account depending on existing accounts under serial # (b) 4 & 5 above.
9. Loan facility up to 80% of the principal amount can be availed against lien on balance of the account at the prevailing rate of interest of the Bank.
10. This product is auto renewable (principal without interest / principal with interest) at the rate as mentioned in serial # (b) 2 above.

Eligibility Features:

1. The existing link account will be the link account of the scheme.
2. The account will be opened in the name of existing account automatically. However, if the existing account holder desires to change the name of the account in that case separate Account Opening Form shall be required with necessary required documents of the newly opened account holder. A Consent letter from the existing account holder will be obtained by the Branch on his/her presence.
3. Bangladeshi citizen, resident or non-resident, aged 18 years or above can open the account either individually or jointly.
4. Minor citizen of Bangladesh can also open this account. In that case, his/her legal guardian will operate the account.
5. One customer can open more than one account with same branch or any other branches of NBL.

Encashment Features:

1. No interest will be paid if en-cashed or closed before 1 (one) month from the date of opening.
2. Interest will be paid at Savings Bank Deposit rate prevailing in our Bank at the time of encashment or at the time of issuance, whichever is lower, for the completed month if the account is en-cashed / closed after 1 (one) month but before expiry.
3. Interest will be paid at Savings Bank Deposit rate prevailing in our Bank at the time of encashment or at the time of renewal, whichever is lower, for the completed months if the account is en-cashed / closed after renewal but before maturity.
4. Interest will be paid for the completed months only and no interest will be paid for fraction month (i.e. for days together if month is not completed) in case of premature encashment.
5. Month to be counted by date to date from the date of issuance.

Declaration of Nominee:

1. Existing nominee shall continue in this account. However, account holder may change the nominee with necessary documents. In that case only nominee form will be filled up & kept with the existing account opening form.
2. If the Account holder expires at any time during the period, the amount will be paid to the nominated person(s) of the Account holder. If the Account holder does not nominate any person(s), the deposited money shall be paid to the Successor on production of Succession Certificate in consultation with Branches Operations Division, Head Office.
3. Depositors may nominate one or more persons against the account as “Nominee”.
4. An Account holder may fix the share payment to each Nominee by fixing the share of amount receivable by such nominee(s) in case the number of Nominee is more than one person.
5. The nomination will be cancelled if the Nominee expires in the lifetime of the Account holder.  A new nominee may be nominated by the Account holder in such case.
6. In the event of Account holder’s death, his/her nominee(s) will not be allowed to continue the Account.
7. A Minor can also be made as Nominee; in that case the minor’s legal guardian will receive on his/her behalf.
8. Photograph of the Nominee duly attested by the Account holder to be enclosed along with the AOF at the time of opening account.

 Other Conditions:

1. This deposit scheme is not transferable.
2. Changes of address must be informed immediately to the issuing branch of NBL.
3. Bank can exercise the right of set-off, if necessary, in case of lien.
4. Outstanding amount against Loan to be adjusted as per terms and conditions of the contract.
5. Excise duty, VAT & income tax to be realized from the account as per approved rate as circulated by the government from time to time.

It is to be mentioned here that this type of account will be treated as Fixed Deposit Account and Account Opening Form applicable for Fixed Deposit Account (FDR) will be used for opening of this account when applicable.