In a move aimed at promoting savings culture and providing long-term financial security for investors, NCC Bank has unveiled its new “Double Benefit Scheme”. The scheme allows customers to gradually grow their principal investment, offering flexibility through small monthly instalments alongside an initial deposit.
While banks in Bangladesh occasionally offer “double your money” schemes, many require a substantial initial deposit, limiting accessibility for a wide range of customers. NCC Bank’s latest offering addresses this challenge by enabling investors to participate with a modest initial deposit while contributing affordable monthly instalments to eventually double their investment.
Key Features of the Scheme:
Initial Deposit: BDT 25,000 – 2,000,000
Tenure Options: 2 to 6 years
Annual Interest Rate: 10%
The bank has provided illustrative examples showing the required monthly instalments to double an initial deposit of BDT 25,000 over different tenures:
2 years: BDT 731 per month
3 years: BDT 387 per month
4 years: BDT 216 per month
5 years: BDT 114 per month
6 years: BDT 47 per month
A comprehensive table shows instalment requirements for various initial deposits and tenures:
| Initial Deposit (BDT) | 2 Years | 3 Years | 4 Years | 5 Years | 6 Years |
|---|---|---|---|---|---|
| 25,000 | 731 | 387 | 216 | 114 | 47 |
| 50,000 | 1,462 | 774 | 432 | 228 | 93 |
| 100,000 | 2,924 | 1,548 | 863 | 455 | 185 |
| 200,000 | 5,847 | 3,096 | 1,725 | 909 | 369 |
| 500,000 | 14,618 | 7,736 | 4,313 | 2,272 | 922 |
| 1,000,000 | 29,236 | 15,472 | 8,625 | 4,543 | 1,844 |
| 2,000,000 | 58,470 | 30,944 | 17,249 | 9,368 | – |
Customers are also permitted to open multiple accounts under the scheme. Monthly contributions can be made through linked savings accounts or directly deposited at the bank. Additionally, account holders can monitor their progress conveniently via online banking services.
To open an account, the following documents are required: a personal photograph, valid National ID (NID), nominee details and photograph, bank referee information, and emergency contact information for a responsible person. All relevant signatures must be provided in the designated forms.
Economists emphasise that in developing countries such as Bangladesh, unexpected medical emergencies or accidents can impose severe financial burdens. Structured savings schemes like NCC Bank’s Double Benefit Scheme offer a reliable path to financial stability, self-reliance, and reduced future risk. Regular contributions not only ensure the growth of personal wealth but also provide peace of mind against unforeseen events.