Any citizen of Bangladesh [18 years or above] having sound mind and legal guardian on behalf of a minor [below 18 years of age] can open this account.
Any legal entity (Company/Organization/Institution/other)
Islamic Principles
Mudaraba is a partnership in profit whereby one party provides capital and the other party provides skill and labour. Profit is distributed as per pre-agreed ratio and loss is borne by Sahib Al Maal.
Required/Identification Document
Standard documents required to open the account of SBPLC.
Payment on maturity
On maturity of the scheme, the bank will pay the Capital (principal) and Profit amount (after deducting applicable Taxes, VAT, Excise duty etc.)
according to the customer’s preference either by cash, payment order or to the linked account.
Installment Deposit
Minimum Tk.10,000/-
Prematurity Profit
Calculation Method with
Rate
No Profit will be given if the account is closed before 1 year from the opening date. In case of closure of the account after 1 year but before 2 years, Mudaraba Savings Account (MSA) profit rate will be applicable.
In case of closure of the account after 2 years, MTDR profit rate for the tenor of 1 year will be applicable.
No profit will be given for several days of a fraction month.
Profit rate for Quard
amount
No Profit will be charged against Quard amount and no Profit will be given favoring the customer on the Quard amount of the scheme; profit will be given only for rest amount of account balance.
