Mudaraba Deposit Pension Scheme (MDPS)

Nature of the Product:

Planed savings in the job life brings financial security and peace of mind in the retired life. Many of those presently engaged in job, trade and business, other professions and earn limited perquisite, suffer financial constraint in the retired life. For bringing smile in the life of these peoples AL NOOR ONE Bank Islami Banking Branches has introduced Mudaraba Pension Deposit (MPD) Scheme. Deposit is received here on monthly basis and profit is paid on yearly basis.

Key Features:

• Any adult Bangladeshi citizen can open this account.
• Account may also be opened in the name of minors.
• One or more account may be opened in a single name.
• Non-resident Bangladeshies also can open this account.
• Tenor of the deposit is 3, 5, 8 and 10 years.
• Profit is applied considering weightage at higher side.
• After maturity total amount with profit can be drawn at a time or on installment basis in pension for a certain period.
• No Closing fee/No Early Closing fee