Flexi Savings Plan

• Customer can deposit any amount at any frequency and anytime.
• Interest will be accrued on a daily basis and credited quarterly.
• This product is for individuals only.
• Account can be opened singly or jointly.
• The period of deposit is 1 (one) year which is renewable at rate existing at that time.
• Initial deposit is minimum Tk.5,000/- and maximum limit is Tk.5 million. Minimum deposit size is Tk.1,000/- and multiples thereof.
• Customer is allowed to open one flexi savings account only.
• Customer will deposit through account payee cheque in the name of Bay Leasing & Investment Ltd.
• Early encashment before 3 (three) months is not allowed except upon death of customer. In case of premature encashment after 3 (three) months, 2% lower interest will be calculated.
• Customer will be allowed to withdraw up to 25% of the balance after completion of 6 months. Maximum 2 withdrawals is allowed under this plan.
• The accounts shall be governed by the terms and conditions as contained herein and shall be subject to the laws of Bangladesh as applicable from time to time. BLI 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.

APPLY INSTRUCTION

Documents required to open an account
Individuals:
• Account Opening Form – duly filled in.
• Proof of Source of Income (wherever applicable).
• One photo of each applicant(s) and nominee(s).
• Copy of NIDs of each applicant(s) and nominee(s).
• Copy of Passport/ Driving License if NID not available.
• Copy of E-TIN of each applicant(s).

Institutional:
• Account Opening Form – duly filled in.
• One photo of each applicant(s) and nominee(s).
• Copy of NIDs of each applicant(s) and nominee(s).
• Copy of Trade License / Memorandum of Article & AoA.
• Certificate of Incorporation.
• Board Resolution for opening the deposit account.
• Form XII – wherever applicable.
• Copy of E-TIN of the institution.

Deposit Account Openning Form