Deposit Pension Scheme (DPS) is a popular investment scheme in Bangladesh that allows individuals to save a fixed amount of money every month for a specific period. The schemes are designed to help individuals save a considerable amount of money by contributing a small portion of their earnings monthly. DPS can also help people develop financial discipline by encouraging them to save. This can help them develop a savings habit and build a financial nest for their future.
DPS can also help people plan for their retirement by providing a regular income stream after they retire. It allows people to deposit a fixed amount of money and earn interest on their savings, which can be used to generate a monthly pension. In this article, we will discuss the 7 best monthly DPS schemes in Bangladesh.
List of the best monthly DPS scheme providers in Bangladesh:
- Eastern Bank Limited Monthly DPS
- BRAC Bank Monthly DPS
- Dutch Bangla Bank Monthly DPS
- Prime Bank Monthly DPS
- Trust Bank Monthly DPS
- Southeast Bank Monthly DPS
- City Bank Monthly DPS
1. Eastern Bank Limited Monthly DPS
Eastern bank Limited is one of the premier service-providing banks in Bangladesh which was founded in 1992. It offers top-of-the-line banking services including great DPS that comes with lucrative offers. Two of those being the Kotipoti Scheme and Millionaire Women Scheme; both offer similar services up to winning 1 Crore in prize money. Both have a tenor of 3 months, 6 months, 1 year, or 2 years. The interest rate on these deposits come with other benefits such as a free debit card and online banking.
There are two other schemes named Multiplier Scheme and Confidence Scheme. Customers with high balance can use the Multiplier Scheme with an interest rate of up to 7% per annum. On the other hand, the Confidence Scheme is designed to provide financial assistance to individuals for various purposes such as education, healthcare, and travel. The loan offers flexible repayment options and competitive interest rates. Customers can borrow up to BDT 50 lakh under the Confidence Scheme. This is how Eastern Bank Limited offers a great deal of monthly DPS schemes that can help customers in saving money for the welfare of their future.
2. BRAC Bank Monthly DPS
BRAC Bank is one of the most prolific banks in Bangladesh with a great number of branches all throughout Bangladesh. They also offer some of the best DPS schemes in the market. The first to be mentioned is Shonchoy SME DPS which requires a monthly contribution of 500 BDT with an interest rate of 7.50% per autumn. The tenure for the Shonchoy SME Deposits ranges from 1 month to 5 years. Their Prachurjo Fixed Deposit tenor ranges from 3 months to 5 years.
BRAC Bank also has a distinctive DPS service for women called Tara SME Deposits and customers can make regular deposits into their account on a monthly basis for a period of 3, 5, 7, or 10 years. The minimum deposit amount is relatively low, making it accessible to women of all classes. Furthermore, their Probashi DPS has a monthly installment of minimum Tk. 500. For Probashi DPS, the installment will be realized automatically on the due date. Loans are provided against 90% of the deposited amount. To apply for any of these Monthly DPS schemes, a customer can visit a BRAC Bank branch or contact the bank’s customer service center.
3. Dutch Bangla Bank Monthly DPS
Being one of the largest banks in Bangladesh, Dutch Bangla Bank has 220 branches in locations all around the country. They offer the best mobile banking services including some attractive DPS schemes as well. Their Deposit Plus Scheme has a tenor of 3 months to 5 years. Customers can avail a loan facility against their DPS deposit and earn interest on the loan amount as well. They also offer a DPS scheme for children’s education called Children Education Saving Schemes which helps parents save for their children’s education.
The scheme offers a higher rate of return than a regular savings account and comes with a guaranteed sum of money for the child’s education. Customers can choose from various tenures ranging from 5 to 25 years. There is also the Millionaire Deposit Scheme which is a fixed deposit scheme that allows customers to potentially win a large sum of money through a lottery system. The prize money for MDS ranges from BDT 10 lakh to BDT 1 crore. Overall, Dutch Bangla Bank’s Monthly DPS scheme is a good option for those who want to secure a regular source of income after retirement or for any other purpose.
4. Prime Bank Monthly DPS
Founded in 1995, Prime Bank is one of the most prominent banks in Bangladesh. Prime Bank has a vast range of DPS schemes which include- Prime Kotipoti, Prime Millionaire, and Prime Lakhpoti, which almost serve the same purpose of winning a big sum of money by using the service of these DPS schemes. These schemes offer an automatic realization of monthly installments and attractive interest rates. The Double Benefit Deposit Scheme offers an interest rate of 7%. The deposited amount will double in 11 years and 7 months.
They also offer two unique DPS schemes named Neera Education Savings Scheme and Neera Motherhood Scheme. Customers who will use these two schemes can open a savings account with a minimum initial deposit of BDT 5,000 and then can make monthly contributions of at least BDT 500. The account can also be opened for a child who is under 18 years old, while the parent or legal guardian remains the account holder. Moreover, the Neera Motherhood Scheme is a monthly DPS for women of all ages, whether married or unmarried, who is planning to have a child or is already pregnant. Neera Education Scheme is especially for mothers who want to save for the welfare of their children.
5. Trust Bank Monthly DPS
With an asset of BDT 354.8 billion, Trust Bank is one of the leading Banks in Bangladesh right now. It is the only bank that offers DPS schemes for almost every type of people in need. While Lakhopoti Scheme, Trust Kortipoti, Mudaraba Millionaire Scheme cater to a larger sum of money being associated, they also have schemes to help people save money for their future. They offer Mudaraba Monthly Savings Scheme and Trust Mudaapah Deposit Scheme that allow customers to save a fixed amount of money each month for a fixed period and earn a profit on their savings. Customers can choose from various tenures ranging from 3 years to 10 years. The tenor for TMDS is 3 months to 5 years.
The Barakat Hajj Deposit Scheme is for Hajj pilgrimage. The scheme offers a higher rate of return than a regular savings account and comes with a guaranteed sum of money for Hajj expenses. Customers can choose from various tenures ranging from 1 year to 5 years. They also provide a DPS service for students. The tenure for the Trust Student DPS ranges from 3 years to 10 years. The minimum deposit amount for the Trust Student DPS is BDT 5,000. The interest rate on the deposits varies based on the deposit amount and the tenure chosen by the customer. The interest rate is higher than the regular savings account interest rates offered by the bank.
6. Southeast Bank Monthly DPS
Southeast Bank Monthly DPS is a popular scheme that offers a flexible deposit tenure ranging. The SEBL Millionaire DPS scheme is a savings plan designed to help customers save for their future needs. At the end of the deposit tenure, customers have the opportunity to win a prize money of BDT 1 crore through a lottery system. They also offer Mudaraba Monthly Savings Scheme which has a tenor of 3 years, 5 years, or 10 years. The minimum monthly deposit amount for MMSS is BDT 1,000.
The profit rate on the deposits varies based on the deposit amount and the tenure chosen by the customer. There is a Pension Scheme which is designed to help customers save for their retirement. Customers can deposit a fixed amount of money on a monthly basis for a certain period of time and earn interest on their savings. At the end of the deposit tenure, the customer will receive a lump sum amount that can be used to fund their retirement plan.
7. City Bank Monthly DPS
City Bank is a commercial bank in Bangladesh that offers several fixed deposit schemes (DPS) with varying tenures and interest rates to help customers grow their savings. It is one of the oldest Banks in Bangladesh. It was founded in 1983. They offer one of the best banking services in Bangladesh which include three top DPS schemes in the market- Goal Based DPS, Insurance Backed DPS, and Fixed Deposit Scheme. Goal Based DPS has a monthly tenor of 6 months to 10 years. The monthly installment size can range from 500 BDT to 50,00 BDT.
The interest rate is 5.50% per 6 months to 12 months. Under Insurance Backed DPS, customers can open a fixed deposit account with a tenure of 3 years, 5 years, or 10 years. The minimum deposit amount is BDT 100,000, and the depositor can choose to invest in BDT or using foreign currency. With the Fixed Deposit Scheme, customers can choose a tenure for their fixed deposit ranging from 1 month to 5 years. The interest rate on the fixed deposit varies depending on the deposit amount, the tenure, and the prevailing market rates. City Bank offers competitive interest rates on its fixed deposit schemes.
- Wrapping Up
These are some of the best Monthly DPS schemes available in Bangladesh offered by different banks and financial institutions. Customers can choose the one that best suits their needs based on interest rates, flexibility, and ease of account opening and finance management.