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| You are here: Home » Consumer Banking Products (Deposit) » EBL Secure DPS |
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EBL Secure – Deposit Protection Scheme is a monthly savings scheme which is an unique one and gives the opportunity of saving money for the future as well as assures that in case of sudden demise of the depositor his/her family gets the much needed financial support. EBL Secure DPS is such a product that ensures both savings and security for a depositor. |
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Under the scheme, a depositor can save Tk. 500 up to a maximum of Tk. 13,000 per month for a period of 5 years. The monthly installments have built in life insurance coverage which assures the maturity value of the deposit in case of depositor’s death due to any cause (excluding pre-existing illness/disability, AIDS, suicide, murder or assault, war or warlike operation etc.). Other than insurance coverage on the maturity value – EBL Secure DPS offers very attractive interest rates on the deposits made. For example – by depositing Tk. 3,000 per month a person can get a return of Tk. 221,838 at the end of 5 years (60 monthly installments). And if the depositor dies anytime during the DPS period - even after depositing a single installment – EBL shall pay back the full maturity value of Tk. 221,838 subject to fulfillment of Insurance requirements. The monthly installments of the DPS has built-in insurance premium. World's leading insurer American Life Insurance Company is providing the life insurance coverage in EBL Secure DPS. |
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| Information that we should know |
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The name of the scheme is "EBL Secure – Deposit Protection Scheme". |
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EBL Secure DPS is a monthly recurring savings scheme with full maturity value insured in case of death of the depositor due to any cause (excluding Pre-existing conditions/disability, Suicide, AIDS, assault or murder, war or warlike situation etc. details of which is available in the master group insurance policy). |
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Any citizen of Bangladesh aged 18-55 years can open this account. |
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This account can be opened in the name of an Individual only. |
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To open EBL Secure, the applicant must have a Current/Savings account at EBL. |
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Under this scheme, accounts can be opened for a period of 5 Years (60 monthly installments) only. |
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Monthly installments can be opened in any denomination of Tk. 500 per month but not exceeding Tk. 13,000 per month in total. |
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A person can open multiple deposit schemes but the total monthly deposit shall not exceed Tk. 13,000 per month. |
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Depositor can choose any denomination of deposit per month at the time of opening the scheme which can not be changed later on. |
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Any benefit from EBL Secure my come under purview of income tax or any other levy as decided by the Government of Bangladesh. |
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Monthly installments will be automatically realized from the customer’s personal EBL account linked with EBL Secure. |
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The deduction of the monthly installments will start from the day of opening EBL Secure and all subsequent installments will be deducted on the same day of following months. |
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If sufficient balance (full value of installment) is not available in the corresponding account of the applicant for realizing monthly installment in time, accountholder will have to pay @2% installment arrear(s) at the time of realization of the next installment. |
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If three consecutive monthly installments are not paid – then the scheme will be closed and the account value will be transferred to customer CASA deducting necessary insurance fees and taxes. |
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In-case of pre-mature closure of EBL Secure, Tk. 1,000 (One Thousand Only) will be charged as Closing Fee. |
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If there is any loan in the depositor with EBL, then EBL holds the right to adjust the loan amount from the deposit which has been deposited by the EBL Secure accountholder for deposit under the scheme of EBL Secure. |
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EBL has entered into an agreement with American Life Insurance Company, Bangladesh where EBL Secure DPS maturity value is assured; the depositor shall be bound by the terms and conditions stated in the master group insurance policy and EBL shall not be liable for any claim declined by American Life Insurance Company, Bangladesh. |
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| Maturity Value Table |
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| Monthly Deposit Amount |
Pre-tax Maturity Value at the end of 5 Years (60 Monthly Installments) |
Monthly Deposit Amount |
Pre-tax Maturity Value at the end of 5 Years (60 Monthly Installments) |
| 500 |
36,973 |
7,000 |
517,623 |
| 1,000 |
73,946 |
7,500 |
554,596 |
| 1,500 |
110,919 |
8,000 |
591,569 |
| 2,000 |
147,892 |
8,500 |
628,542 |
| 2,500 |
184,865 |
9,000 |
665,515 |
| 3,000 |
221,838 |
9,500 |
702,488 |
| 3,500 |
258,811 |
10,000 |
739,461 |
| 4,000 |
295,784 |
10,500 |
776,434 |
| 4,500 |
332,757 |
11,000 |
813,407 |
| 5,000 |
369,730 |
11,500 |
850,380 |
| 5,500 |
406,703 |
12,000 |
887,354 |
| 6,000 |
443,677 |
12,500 |
924,327 |
| 6,500 |
480,650 |
13,000 |
961,300 |
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