Education Savings Scheme

The educational expenses particularly the expenses for higher education are sharply increasing day by day in our country. Sometimes, the children are deprived of getting the desired level of education because of the inability of the parents to meet their educational expenses. But the parents would not feel any difficulty to defray such expenses if a proper financial planning is made much ahead of time.

- The instrument will be acceptable as collateral security against any investment subject to registering the lien with the issuing Branch.

- In case of death of the depositor, the amount of Instrument will be paid to the nominee of the depositor or in absence of nomination to legal heirs of the depositor on production of Succession Certificate.

- But if the nominee after the demise of the depositor intends to continue the deposit to get the monthly educational allowance for 6 years as admissible under the rules of the Scheme, the Receipt of the deposit should be surrendered to the Bank duly discharged by the nominee and duly authenticated by the legal guardian on Maturity.

- In case of instrument being lost, the procedure for issuance of the duplicate will be the same as applicable in case of loss of TDR.

Education

Tk. 50,000/-

5 years

Tk. 80,000/-

- To avail the education allowance, the depositor is required to deposit the receipt or Instrument with the Bank duly discharged by him with the written instruction to pay the amount to his /her son /daughter nominated by him/her on monthly installment