Millionaire Plan



“Millionaire” Plan
• Account can be opened and operated singly or jointly.
• The period of deposit is for 3/5/7/9 years.
• Customer is eligible to open more than one account in the same branch.
• Customer may pay installments through Cheques/pay orders in the name of Bay Leasing & Investment Ltd.
• If a customer fails to pay 3 consecutive installments then the plan will cease to function and payment will be made as per the following clause.
• For premature/forced encashment, for 1st year no interest will be paid but for 2nd year and beyond premature encashment rate will be 4% lower than agreed rate.
• The depositor must nominate one or more individuals as nominee. In case of death, deposit will be encashed with applicable interest and paid to the nominee(s).
• The accounts shall be governed by the terms and conditions as mentioned and shall be subject to the laws of Bangladesh as applicable from time to time. Bay Leasing reserves the right to change rules as and when deemed necessary.
• Maturity value is an indicative figure. Tax/Excise Duty will be deducted as per Govt. rules.
• Loan Advantage: Customer can avail loan up to 90% of the deposit but the minimum deposit balance should be BDT 100,000/-. The rate of interest will be minimum 2.5% above the rate of deposit.